Property Management News

Housing Gets Big Boost in Biden Budget

The president is proposing funds to increase tax credits, support construction of affordable housing and reduce homelessness. President Joe Biden on Monday proposed spending billions of dollars more to increase housing and to reduce homelessness as part of his $7.3 trillion spending plan for the next fiscal year. Biden’s 1,298-page proposal addresses a wide range of issues, including a number of programs to help cities and states ease the housing crisis.  As he told officials at the National League of Cities conference in Washington shortly after his proposals were made public, “the cost of housing is critical to families nationwide. If inflation keeps coming down, mortgage... Read more

Multifamily demand is likely to remain healthy in 2024, though rent growth will be tested by decelerating economic growth and a rapid supply uptick in some...

From voice search and chatbots to sharper virtual representatives, this type of artificial intelligence is getting more important in operations. Long gone is the time...

Sustained high interest rates in the U.S. have made mortgages unpalatable to many, though the Federal Reserve recently signaled an end to more rate hikes. There has...

Chronic housing shortages raise value for market-rate multifamily products, but affordable supply still falls way short of demand. Demand for market-rate multifamily...

Multifamily Parking: Too Many People – Too Few...

Multifamily parking has a significant influence on reputation and is one of the most mentioned amenities in all levels of reviews of multifamily properties. Metropolitan areas are awash in parking, which gives the impression that no parking issues should exist at all. However, many metropolitan areas have made a 180-degree turn in their approach to parking. Eleven cities, including Seattle and Lexington, Ky., reversed course in 2022 and switched to parking maximums. This is creating a parking environment in multifamily replete with challenges. Fewer spaces don’t need to translate to parking problems. Proper management of available spaces is essential to keeping the peace in a... Read more

National rent prices finally moved up slightly in February after six months of declines, according to the March report from Apartment List. “This turnaround is in...

A landlord can increase rent by up to a certain percentage or amount specified by local rent control laws. Rent increases are subject to local rent control laws which...

Brokers’ fees are generally the most significant portion of upfront costs. Moving is always a major pain — but new data shows that, for New Yorkers, it’s also...

Millions of homes across the U.S. are already vulnerable to climate change, according to a new study. Approximately 41% of occupied rental units, or 18.2 million...