Just when it seemed multifamily investment sales might be getting some traction, the market suddenly slammed on the brakes once again.During the summer, sellers were, at last, beginning to "meet the market" in terms of transaction prices. With sellers no longer captive to the false pretense that pricing would make a quick U-turn and strengthen by the end of 2023, the pace of investment sales, anecdotally at least, appeared to be picking up.In Sep ...
As a seasoned real estate investor, I've faced many challenges, but few have been as frustrating as dealing with rigid lending criteria from commercial lenders. Recently, I encountered a bridge lender who informed me that they were no longer issuing loans greater than $10 million on apartment properties. This decision was perplexing, especially given the current market dynamics. Here, I want to share insights into why this happens and how investo ...
Heard someone joke recently about walking into a Ford dealership, and realizing most of the people working there drive a Toyota.
This had me thinking about Multifamily, and I'm curious what the breakdown is of people who provide rental services and who also use them.
Does it impact the policy decisions?
If you're also renting an apartment, maybe you have first-hand knowledge of what tenants need. Or maybe you're too close, and can't properly...Heard someone joke recently about walking into a Ford dealership, and realizing most of the people working there drive a Toyota.
This had me thinking about Multifamily, and I'm curious what the breakdown is of people who provide rental services and who also use them.
Does it impact the policy decisions?
If you're also renting an apartment, maybe you have first-hand knowledge of what tenants need. Or maybe you're too close, and can't properly separate between tenant needs and asset owner priorities.
If you're in a single-family home, you're removed enough that you can rationally prioritize the asset owner's goals. Or maybe, you'll struggle to understand the customers and identify which amenities are key to securing more leases.
As someone who's been renting for the past 10+ years, I can rely on personal experience to identify what software tools to build to drive more leases. But maybe I'm too close to the action.
Like all things in life, there are pros and cons to either approach. I would be happy to hear from the community on how they think a multifamily professional's decision on where to live impacts how they serve tenants.
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Hi Friends! Tell me your favorite 3rd party service for processing invoices. Have worked with Avid exchange- looking for what else is out there. Don’t need anything fancy, just the basics . Thanks everyone!
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The multifamily housing industry faces a growing challenge during peak leasing season — the scourge of package theft. As more residents move into communities and online shopping continues to surge, the volume of packages delivered to these properties is skyrocketing. Unfortunately, this influx of packages has also attracted the attention of opportunistic thieves, leaving property managers and residents alike grappling with the consequences — rais ...
Real quick–we're talking multiple times a day. Success demands mastery over ever-shifting market dynamics. With private data usage driving legal landscape changes, coupled with economic conditions and a competitive environment, revenue teams must be vigilant in their market survey data to yield maximum results. Rents, concessions, apartment availability–these data points and more are constantly updated to reflect what's currently happening withi ...
Hello!
I'm looking for ideas for outdoor amenities. We have two pools, walking trails, outdoor girl + fire pit areas and a dog park! What are we missing?
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When calculating third party management fees, is it commonplace to include or exclude utility reimbursement income? In other words, do managers charge their fee on funds collected from tenants who are reimbursing utility costs in the rental units?
Thanks,
Matt
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Just $5 billion in multifamily sales closed in the first quarter, according to Avison Young, the lowest amount since the second quarter of 2020, when COVID reduced sales volume to some $4 billion. That followed a decrease of 61 percent in 2023, to $119 billion, according to Matthews Real Estate Investment Services.The movement is coming from a few spheres. Institutional investors and lenders both need to deploy capital, while some property owners ...
Multifamily conference season is still going strong. Up next: NAA Apartmentalize 2024! This year it's taking place in Philly, the city of brotherly love. Apartmentalize offers learning, networking, and solutions specifically for multifamily, and helps you stay current on industry trends and best practices. We know that hitting every conference isn't always an option, so if you're going, we outlined some of the best ways to make the most of your t ...
In the multifamily world, no conference dominates anywhere close to Apartmentalize, which has grown to mammoth proportions over the years. Before any conference, I dig into the schedule and try to create a plan of attack. This is where I ran into trouble.As we get closer, I like to highlight four or five sessions I am especially excited about, with a little blurb of why I think it is impactful. This means I open u ...
Who do you use for renters insurance for your properties? I am looking for a company to offer the insurance and administer the whole process, paying, monitoring non-payment etc..
Thanks in advance.
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