Industry Insider
A weekly newsletter of noteworthy articles pertaining to our industry.
Record High for Multifamily Construction
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While multifamily permits, starts and completions were down for July, the latest data from the Census Bureau shows a new high for multifamily units under construction. According to Reuters, multifamily housing reached a record 986,000 units under construction with a 1.1% increase, which is the…
Two-Thirds of Renters Satisfied with Current Housing
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Renters want flexibility, while resident experience drivers differ by generation. According to a study from RealPage and The Center for Generational Kinetics, 66% of renters are satisfied with their current housing, while 51% of Gen Z renters said renting is a better option than purchasing.
“The…
Pets and Technology: The Latest Wave of Multifamily Innovation
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Innovation means different things in multifamily. What first comes to mind is proptech, but innovation has shifted to new spheres; many operators are now prioritizing the pet experience, which spans pet owners, residents without pets, onsite teams and pets themselves.
As furry companions…
Adaptive Reuse Apartment Conversions Slow in 2022
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Adaptive reuse projects saw a slight decline in 2022, but RentCafe reports the future is strong for apartment conversions. There were just over 10,000 apartments converted in 2022, according to the new research.
Much of the discrepancy was found in the former use of the units as office buildings…
Centralization: The Tech That Matters No Matter Your Definition
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There is no shortage of buzzwords being tossed around the multifamily housing industry, and one of the newest, “centralization,” has rapidly gained traction.
However, while the concept is extremely popular, the definition of the word varies by organization. Some combine all of their leasing…
RMR Group Acquires CARROLL
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The RMR Group is acquiring MPC Partnership Holdings, doing business as CARROLL, in an all-cash transaction. The deal is expected to close in fall 2023.
CARROLL was founded in 2004 and has over 28,000 units under management across 81 properties and roughly 700 employees.
“I’m incredibly proud of the…
Dirty Jobs: Training the Next Generation of Maintenance Techs
By Doug Pike | | Updated
Like many industries, rental housing is struggling to find, train and retain maintenance team members. Proactive organizations are tapping into a diminishing supply of skilled workers through training, apprenticeships, outreach programs and outside-of-the box strategies.
During the 2023…
Smart Doorbells – Worth the Risk?
By Peter Stockburger | | Updated
Smart doorbells are becoming ubiquitous throughout society, including in multifamily housing communities. Residents and property owners alike are now using smart and internet-connected doorbells to enhance security, increase visibility and add a layer of technology and flexibility to the living…
NRP Group Expands West
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The NRP Group is expanding operations westward. The multifamily developer, builder and manager also announced new hires to oversee developments in Phoenix and Las Vegas.
“Our leadership spends a great deal of time considering expansion strategies with a focus on the fundamentals like supply/demand…
Year-Over-Year Rent Growth Declines
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Year-over-year (YoY) rent growth in the U.S. is negative for the first time since the beginning of the pandemic. The August 2023 Apartment List National Rent Report shows rent growth is down 0.7% YoY despite the month-to-month increase of 0.3% during July. This is partly due to “sluggish demand and…