Industry Insider
A weekly newsletter of noteworthy articles pertaining to our industry.
Renters Overtake Homeowners in 101 Zip Codes
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With the cost of owning a home rising, some across the U.S. are looking at other alternatives, which includes renting. This phenomenon was reflected in a recent study from RentCafe, which shows 101 zip codes have flipped from homeowner majority to renter majority in the last 10 years.The share of…
How AI Is Transforming Package Management
By Ned Hill | | Updated
There has been an explosion in home deliveries during the past five years. According to a U.S. Census Bureau Annual Retail Trade Survey, e-commerce sales increased by $244.2 billion or 43% in 2020, the first year of the pandemic, rising from $571.2 billion in 2019 to $815.4 billion in 2020. Stay-at…
Property Tax Increases on Horizon for Rental Housing Providers
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Property tax increases are coming and are impacting the rental housing industry across the Sun Belt.A recent article from Bloomberg reviews several companies in the industry and what they expect to see regarding the increases. American Homes 4 Rent and Invitation Homes both said property taxes will…
Rent Growth Cools in October
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Rents across the U.S. are easing slightly, but the data is still fairly market specific. Both the Zumper National Rent Report and the Apartment List National Rent Report for the month of October saw declines in rent prices.Zumper reports median one-bedroom rent declined 0.8% compared to the…
Apartment Market Conditions Weaken in Q3
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Apartment sales and financing are among market conditions showing a slowdown in the third quarter of 2022. The latest Quarterly Survey of Apartment Market Conditions from the National Multifamily Housing Council (NMHC) reports market tightness, sales volumes, equity financing and debt financing…
Rent Control Ballot Question Halted in Orange County, Florida
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On October 27, 2022, the Florida Fifth District Court of Appeals halted Orange County’s rent control ballot question, overturning a previous district court decision made last month.
Overview
In August, Orange County commissioners voted to place a rent control question on this election cycle’s…
Renter Voter Turnout Increasing
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Renters are closing the gap with homeowners regarding voter turnout. The midterm elections are next week, and Apartment List reviewed voting habits between the two cohorts. While the gap between homeowners and renters has been larger in midterm elections, presidential election years have also…
Under-The-Radar Community Upgrades and Strategies
By Darren Rawson | | Updated
According to the National Multifamily Housing Council, nearly 80% of the country’s existing apartments were built prior to the year 2000 — meaning a majority of U.S. multifamily properties often compete in today’s tight rental market with outdated layouts and less-than-ideal amenities.Add in…
Former NAA Chairman Rick Graf Retiring
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Former National Apartment Association (NAA) Chairman of the Board Rick Graf is retiring. His last day as President, Multifamily, Asset Services at Cushman & Wakefield will be Dec. 31. Woody Stone was promoted to serve as President of U.S. Multifamily Asset Services, according to a release from…
Navigating the Ins and Outs of Data Privacy
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New state-level data privacy laws in California, Colorado, Connecticut, Utah and Virginia go into effect in 2023. These changes will have a direct impact on companies in the multifamily housing space. To inform members of these upcoming changes, NAA’s Legal Affairs team hosted “Navigating the Ins…