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Dear Gabby: Attracting Renters with Design

Dear Gabby: Attracting Renters with Design
  Dear Gabby,   I’ve been around the block a few times as a property manager and, not to pat myself on the back too much, I think I’m pretty good at this job. However, I want to be better, but with my busy life, sometimes it’s hard to keep up with the latest trends. That said, can you give me the scoop on the latest trends for attracting renters?   - #BusyBee       Dear #BusyBee,   I can totally relate. Between making sure my kids get to school on time and being a boss on the job, I barely have time to watch the latest episode of HGTV’s Property Brothers (it’s a guilty pleasure). In fact, I’m squeezing this in during commercial breaks.   Keeping up with the latest trends is important if you want to be a great property manager, so let me break it down for you!   It’s pretty well-known that more and more people are deciding to rent instead of buying houses. 2015 saw the biggest surge in new renters in history, bringing the number of people living in rental units to around 110 million people.This means that more families across the country are calling multifamily communities home. Because of this, renters are looking for an apartment that matches their personality and lifestyle. These are a few of the things they’re looking for:   Customized Design Property managers that want to stand out in an increasingly crowded market can attract renters with décor that is customized fo......
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Multifamily Renters Trend | How Today’s Moving Trends Will Affect Multifamily in 2014

Multifamily Renters Trend | How Today’s Moving Trends Will Affect Multifamily in 2014
According to a press release that the U.S. Census Bureau shared late last month, 11.7% or 35.9 million U.S. residents moved their primary residence in the 2012-2013 year. This translates to a drop of about 12% compared to this same time period from the year prior. When comparing the data found in the Geographical Mobility report published in 2013, these statistics show 2013’s numbers to be very similar to the 11.6% reported in 2011. Researchers found that 48% of Americans claimed that the move was housing-related, 30.2% was a result of family, and 19.4% said their move was fueled by employment-related reasons. What do these moving trends mean for multifamily? We have three solid years in which moving trends have remained steady or improved nationally, with certain specific metropolitan areas seeing enough growth to maintain the averages for their whole region. At 13.4%, the Western region of the United States has actually seen the highest percentage of all movers. This is followed by the South, who received 12.8% of our nation’s movers, and the Midwest who turned in an even 11%. The region with the lowest mover rate is the Northeast, who had 7.8% in the last year. According to these trends, industry professionals can expect to see at least these same percentages with a slight improvement being the most likely result of all the new activity planned for 2014. Multifamily News identified that two-thirds of today’s movers are staying within their same county of origin. In addition, 40% of these movers are staying within 50 miles......
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Real Estate Trends | Where Is Everybody Going? US Populations Shifts through 2030

Real Estate Trends | Where Is Everybody Going? US Populations Shifts through 2030

Recently we reviewed our predictions for 2014, where we learned that the real estate market is expecting construction of more that 400,000 units per year over the next few years. The question is, where are all these units going to be builit?

We've combined data from the US Census Bureau, the Weldon Cooper Center for Public Service at the University of Virginia and the demographic databases at Proximity One to provide at where renters are going over the next decade or so. Proximity One is a particularly valuable resource for data and analytics enthusiasts who can write their own queries and drill down into projected vacancies by housing type, by time period, by state or even by county.

If you were investing in multifamily real estate today for a long term ROI, where would you put down your money?

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