Industry Insider
A weekly newsletter of noteworthy articles pertaining to our industry.
Affordable Stock Needs Attention
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Society often becomes acutely aware of the value of affordable housing through its absence. The problems that accompany a shortage of affordable housing affect far more people than just the residents who cannot find an apartment home. Without it, businesses struggle to hire, economic development…
Senate Bill Introduced to End Federal CARES Act Notice to Vacate
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On February 7, 2024, Senators Marco Rubio (R-Fla.) and Bill Hagerty (R-Tenn.) introduced S. 3755, the Respect State Housing Laws Act, in the U.S. Senate. The legislation would end the CARES Act’s federal notice to vacate requirement for federally-backed and federally-assisted housing, a…
Wood Partners Transfers Property Management to Greystar
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Wood Partners is in a new relationship that transfers all of the Atlanta-based builder and developer's units under management to Greystar. The Charleston-based real estate firm adds more than 130 properties with 38,000 units across 17 states and will be the manager for Wood's future assets.
"Wood…
Small Multifamily Properties Reviewed in New Report
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A new report from the Terner Center for Housing Innovation at UC Berkeley looks to better understand multifamily housing and the businesses it operates. "The Ownership and Management of Small Multifamily Rental Properties: New Insights on an Overlooked Part of the Rental Market" sheds more light on…
Equus Acquires Six-Community Portfolio
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Equus Capital Partners has six new communities under its name. The real estate investment manager acquired Project Big Timber, which is six garden-style properties in the Atlanta, Philadelphia, Raliegh, N.C., and St. Louis markets totaling 1,249 units.
“The acquisition of the Big Timber Portfolio…
NMHC Names New Chair, Secretary
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The National Multifamily Housing Council (NMHC) has named James H. Schloemer, Chief Executive Officer of Continental Properties Company, has its Chair for the 2024-24 term. Antonio Marquez, Principal and Managing Partner of Comunidad Partners, joins as Secretary for the two-year term.
"As rental…
Stockbridge MORE Adds 3,000 BTR Homes in 2023
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Stockbridge MORE Communities, a joint venture between investor Stockbridge and management team MORE Residential formed in 2021, expanded with the acquisition of 17 communities with more than 3,000 homes in 2023. The communities are branded as Covey Homes.
"This venture continues to fund the…
Apartment Rental Application Fraud Omnipresent, Increasing
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Fraud in the rental housing industry continues to affect businesses and professionals. According to a new survey of National Apartment Association (NAA) and National Multifamily Housing Council (NHMC) members, 93.3% of the 75 owner, developer and manager respondents reported experiencing fraud in…
Congress Avoids Shutdown, Unveils Bipartisan Tax Package
By Greg Brown and Maria Spencer | | Updated
On January 18, 2024, the U.S. House and Senate passed a temporary extension of government funding until March to avoid a government shutdown. Additionally, Ways and Means Committee Chairman Jason Smith (R-Mo.) and Senate Finance Committee Chairman Ron Wyden (D-Ore.) unveiled a compromise tax…
Offices Continue Conversions into Apartments
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More than 55,000 office-to-apartment units are expected to be created in 2024. This is up 10,000 units from 2023, according to new research from RentCafe. And while the level is a record, the margin of growth year-over-year is shrinking. There were 12,100 such units in 2021; 23,100 units in 2022;…