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It is wise and acceptable to use a criminal background check to eliminate any candidates with a criminal record prior to getting to final interviews when hiring.
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Home Insider Blogs Blake Ratcliff's Blog What is going on in the Multifamily Market.
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Oct 16
2009

What is going on in the Multifamily Market.

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Posted by: Blake Ratcliff on Oct 16, 2009 01:00

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I've read a number of reports predicting multifamily will lead the way out of the recession for commercial property.  I've also seen and posted a few blogs on the subject of how renting patterns will change (Lori Snyder's "Boomer Rising" is a good example).  At the same time, I can't deny that the bad news is not over.  I saw a national report saying rental rates had dropped nationally yesterday.  Today, another  group published a report echoing that result.  At the same time, I am seeing huge numbers of properties for sale from foreclosure.

Still, not all is lost.  Today, Michael Cunningham gave a positive review on core absorption in Atlanta.  MSNBC ran a report showing 79 metropolitan areas in recovery and 270 stabilizing.

I believe that for the coming year we will see property  performance gradually and with some acceleration trend upward.  Rent reductions should be off the table by late next year.  At the  same time, I believe we will see an increasing tide of projects in foreclosure even as demand picks up.  Many of these will be victims of loans made on the basis of "rent growth  opportunity" that has failed to materilize.

I also believe that for creative management groups and owners trends will develop and can be capitalized on to increase margins and increase long term occupancy.  Trends like boomers downsizing and younger folks looking for new (and perhaps not so new) ways to save money.  Let's not forget there was a time when the boarding house was common.  Perhaps some of these type ideas need to be dusted off.

Blake Ratcliff

www.apartmentmarketingsolutions.com

 


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