Industry Insider
A weekly newsletter of noteworthy articles pertaining to our industry.
Rent Growth Climbs for Third Straight Month
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A rent growth trend is forming again. The May 2023 Apartment List National Rent Report shows the rent index increased by 0.5% during April, which is the third straight month of rent growth.Year-over-year (YoY) rent growth at 1.7% is at the lowest mark since March 2021, and this is well below the…
5 Key Consumer Preferences of Renters
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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…
Post Road Management Acquires 11 Communities
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Post Road Management is deepening its footprint in Wichita, Kan. The real estate investment and management company announced it acquired 11 multifamily communities in the greater Wichita metro earlier this month. The new acquisitions range from Class C+ workforce housing to Class A new…
Greystar Opens Modular Apartment Manufacturing Facility
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Greystar Real Estate Partners, LLC is celebrating the opening of its flagship manufacturing facility to focus on modular construction. A ribbon-cutting ceremony took place earlier this month in western Pennsylvania, home to Modern Living Solutions (MLS).The MLS subsidiary plans to deliver modular…
Minneapolis City Staff Report Says No to Rent Control
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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,…
Millennial Homeownership Jumps During Past 5 Years
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Millennials are now a homeowner-majority generation. New research from RentCafe shows 51.5% of Millennials own a home, flipping from a renter-majority to an owner-majority.There were 18.2 million Millennial homeowners in 2022, up 7.1 million owners during the past five years. There are still 17.2…
NMHC Announces Largest Apartment Managers, Owners
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The 2023 National Multifamily Housing Council (NMHC) Authoritative Rankings are out with little change surrounding the top 10 largest apartment managers.Greystar Real Estate Partners remained the No. 1 manager based on units managed: nearly 727,000 compared to just shy of 700,000 in 2022. Lincoln…
Single-Family Zoning Ends in Northern Virginia Metro
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Arlington County, Va., will now allow the development of multiunit residential buildings by-right after a unanimous vote by local lawmakers in March. “As housing stock locally and nationally has failed to keep up with demand, Arlington becomes the first locality in the D.C. region — and much…
New Jersey Metro Tops List of Most Competitive Rental Markets
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North Jersey is the most competitive market in the U.S. New research from RentCafe shows eight of the top 20 most competitive markets are in the Northeast. The Rental Competitivity Index is at 60 out of 126, and apartments, on average, are being occupied within 38 days of vacancy.The report…
J.H.W. Enterprises Celebrates Anniversary with Community Day Service Project
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J.H.W. Enterprises Property Management, Inc. celebrated its fifth anniversary in style and by giving back to Charleston, S.C., community. To celebrate five years of innovation and success, the company held a Community Day service project and a Harlem Jazz Night Gala in late March.Charleston…