Multi-Family Industry Outlook Positive through 2015

Submitted by J. Debes New construction for 2012 should result in 55,000 units for the year, well below the average of 125,000/year of 2000-2009.  New construction for 2013 is projected at 130,000. Freddie Mac recently forecast demand of 1.7 million new multifamily renter households through 2015 due to decreasing homeownership.  A recovery in the single-family housing market may slightly damper demand for rental housing. REIS projects vacancies to remain in the low 4 percent range through 2015. Increases in household income, which have remained stagnant in recent years,  will likely…

What Today’s Renters are Looking For

Submitted by L. Phair What was a trend in apartment living 20 years ago is not necessarily the same for today’s renter.  Besides a great price and beyond updated amenities and a convenient commute to work, a renter’s wants and needs are ever changing.  Here are just a few of the 2012 trends today’s renters are shopping for: •    Pay Rent Online – Who uses a checkbook anymore?  More and more bills are paid via the internet – especially by the Gen Y renters. Why not pay your rent this…

CURB APPEAL: First Impressions, Impact on the Bottom Line

Submitted by B. Duchano It’s curb appeal that lures new residents, and makes it difficult for existing ones to leave.  Curb appeal is an essential element that property managers cannot let slide in an economic downturn and also as important under a more stable economy.  Curb appeal will boost your bottom line, reduce marketing costs and improve NOI.  You get a higher quality resident who stays longer. Curb appeal is everything from your landscape, well maintained parking surfaces, signage and the cleanliness of your property. People make up their minds…