Apartment Business Update
A quarterly newsletter covering investment trends in the apartment industry.
5 Key Consumer Preferences of Renters
April, 2023 | Updated May, 2023
RCLCO Real Estate Consulting has released the results of the “2023 Renter Consumer Preference Survey Report,” providing in-depth national insight into the consumer preferences of single-family and multifamily renters.The report offers data derived from survey conducted in late 2022 that uncovers…
Minneapolis City Staff Report Says No to Rent Control
April, 2023 | Updated April, 2023
On April 14, Minneapolis city staff published an impact analysis, “Rent Stabilization Staff Analysis,” to provide in-depth background and research after voters approved an amendment to allow rent caps in November 2021. The report recommends against implementing a rent stabilization policy,…
Office Vacancy Up, Apartment Conversions A Result
February, 2023 | Updated March, 2023
The national vacancy rate for office buildings in the U.S. hit a nearly 30-year high in the third quarter of 2022. According to a recent report from CBRE, the vacancy rate reached 17.1%. This extra space has led developers, investors, architects and others in the real estate arena to rethink how…
NAA Releases Second Episode of The Apartmentcast
February, 2023 | Updated February, 2023
The NAA Apartmentcast, the official podcast of the National Apartment Association, has released its second episode, which features a sit down with NAA VP of Research Paula Munger for a conversation centered on apartment market trends, the labor market, inflation, demographics, housing affordability…
Apartment Management Once Again Proving Recession-Proof
By Paul Bergeron | February, 2023 | Updated February, 2023
Headlines about significant job layoffs are appearing almost daily as the country moves into 2023 with “recession” on many minds.Workforce reductions have mostly been in the technology industry, but lately, they are showing up elsewhere. But not in apartment management.Apartment management…
Federal Advocacy Outlook: Advocate 2023
By Greg Brown and Nicole Upano | February, 2023 | Updated April, 2023
The 118th Congress Convenes While Republicans took control of the U.S. House of Representatives in early 2023 as expected, no one foresaw the razor-thin four-seat majority (222–213). In the Senate, Republicans were only given a roughly 50/50 chance of taking the chamber, but few expected them…
NAA Update on HUD's Affirmatively Furthering Fair Housing
By Cedric Watkins | January, 2023 | Updated February, 2023
On January 19, 2023, the U.S. Department of Housing and Urban Development (HUD) published a Notice of Proposed Rulemaking in the Federal Register that aims to bolster the mechanisms that allow the agency to enforce the Fair Housing Act’s longstanding requirement to “affirmatively further fair…
White House Renters Bill of Rights’ Principles & Agency Actions
By Ben Harrold | January, 2023 | Updated April, 2023
On January 25, the White House announced a number of actions to advance President Biden’s housing agenda, which are intended to protect renters and promote rental affordability. Key actions include:
Unveiling “Blueprint for a Renters Bill of Rights,” which lays out five principles that President…
Rent Growth Continues 2023 Slide
January, 2023 | Updated January, 2023
Rent growth continues to slow to rates not typically seen at this time of the year. The national rent index for the duration of January declined 0.3%, according to the latest Apartment List National Rent Report. This is the fifth consecutive month of month-to-month declines.“This month’s price dip…
NAA Update on the Biden Administration's "Renters Bill of Rights"
January, 2023 | Updated April, 2023
On January 24, 2022, the National Apartment Association (NAA) participated in a White House call previewing the Administration’s blueprint for advancing a “Renters Bill of Rights,” an explicit campaign promise from President Biden. This call followed months of engagement between NAA and the White…