Property Management News
Investors purchasing apartment complexes have used the same formula for renovation for years. They put in new countertops and flooring, painted the property’s units and exterior, changed the complex’s name, and cleaned up the landscaping. Although these methods have proved to be successful over the years, most properties that are being purchased have already been “flipped” and thus had these upgrades in the last 5-10 years. This has led to a new wave of intelligent and visionary investors looking to maximize returns in the already “picked-through” marketplace. Owners are now looking for amenities that will not only entice new residents to come their way... Read more
By now it’s no secret that being pet-friendly is crucial to attracting today’s renters. According to a recent study by apartment operator Cortland, 82% of...
The year ahead for the multifamily real estate market holds a unique set of challenges and prospects. With both high interest rates and weather-related catastrophes...
Multifamily has maintained its status as the best performing and most resilient asset class through economic cycles. Market conditions continue to change at a pace...
New York’s rent stabilization laws, amended in 2019, are arguably the most stringent in the country. Challenges to New York’s rent regulations are not new, and come...
Functional amenity spaces, appealing resident events and prompt maintenance responses all qualify as factors that can enhance the chances of retaining a resident. A resident who has an unresolved maintenance request, for example, is four times less likely to renew their lease. While a smooth-running property is part of the equation, the most important component to driving renewals is to think of retention more holistically and provide residents with true optionality at the point of renewal. Retention can and should be about more than just keeping a resident in their current home. Give them options Property managers often don’t recognize that a lot can change for a resident during a... Read more
In the world of investing, there is no black and white – investors have to unearth a massive gray area to find investment opportunities that won’t fail. It is...
What’s happening Travelers looking for a place to stay in New York City may find they have far fewer options thanks to strict new rules that are designed to crack...
Multifamily is leaning into automation, making the rental process easier for both renters and on-site teams. My daughters, who are at sleepaway camp, recently requested...
The highest increases in a metro area were 15.3% per unit year-over-year growth. Multifamily owners and operators are facing a growing level of property taxes and, in...
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