Industry Insider
A weekly newsletter of noteworthy articles pertaining to our industry.
Banking Failures Impacting Rental Housing
March, 2023 | Updated March, 2023
Startups and technology companies aren’t the only ones feeling the pain of the recent banking failures in the U.S. The rental housing industry has felt the ripple effect from the collapse of Silicon Valley Bank (SVB).“SVB had $1.3 billion in investments in affordable-housing projects in 2022,…
Multifamily Permits Outpacing Single-Family
March, 2023 | Updated March, 2023
New analysis of Census Bureau data from Apartment List shows building permits are not evenly distributed between single-family and multifamily construction. Total permits slipped from 1.74 million in 2021 to 1.65 million in 2022, but building permits last year were higher than any level from 2007…
Once a Lead, Always a Lead: How Treating Residents as Renewal Leads Maximizes Revenue and NOI
By Andrew Ruhland | March, 2023 | Updated March, 2023
Service providers in any industry know the secret to repeat business is rooted in how they treat their customers. Regardless of the product or service, customers expect a top-tier experience throughout their entire purchasing cycle, from the initial search to post-purchase and all the interactions…
Clear the Air with Smoke-free Apartments
By James Campbell | March, 2023 | Updated March, 2023
Tobacco has deep roots in U.S. history, and entered a widespread cultural trend in the 1950s and 1960s. The National Apartment Association’s latest webinar, “Clear the Air on Smoke-free Apartments,” presented on March 7, provided a brief background of smoking since that time and how smoking can…
HUD Releases Best Practices as White House Cracks Down on Junk Fees
March, 2023 | Updated March, 2023
The U.S. Department of Housing and Urban Development (HUD) is releasing best practices related to application fees and leasing costs. In the open letter, Secretary Marcia Fudge urged housing providers and companies that provide leasing services to adopt policies that promote fairness and…
Transit-Oriented Affordable Housing Breaks Ground Near Los Angeles
March, 2023 | Updated March, 2023
More than 700 attainable and affordable rental housing units are coming north of Los Angeles. Calabasas, Calif.-based real estate firm Alliant Strategic Development (ASD) broke ground on four transit-oriented multifamily communities that will add 727 attainable and affordable rental housing units…
Hoarding Disorder: Situations and Solutions for Property Managers
By James Campbell | March, 2023 | Updated March, 2023
Hoarding disorder is protected under the Fair Housing Act, so property managers must approach each situation differently, while keeping residents’ safety top of mind. The National Apartment Association (NAA) presented the webinar “Hoarding Disorder: Situations and Solutions for Property Managers.”…
Rent Growth Climbs Slightly in February
March, 2023 | Updated March, 2023
Rent growth ticks back up in February.Rent growth is back in positive territory after five straight months of declines. The latest Apartment List National Rent Report increased 0.3% during February.Year-over-year rent growth is at 3%, which is the lowest level since April 2021. The average rate for…
Zumper Announces Flexible Leasing Service
February, 2023 | Updated February, 2023
The new program is live across the country.Zumper is joining the flexible leasing space. The San Francisco-based rental platform announced FlexPass on Feb. 23—a way for residents to have access to short-term rentals across the country. The program is free if booked before March 31. Features of…
Office Vacancy Up, Apartment Conversions A Result
February, 2023 | Updated February, 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…