Property Management News

After the rollercoaster ride of the past few years, a dip into a mild recession in 2023 should be much easier to manage than the plunge experienced in the spring of 2020. “I’m a glass half empty kind of person, but I still think the recession will be milder than most people think,” said Rich Martinez, head of agency lending production for Greystone. “The impact won’t be anything like the Great Recession or the pandemic recession.” Martinez anticipates that the upcoming recession will be more like a correction, with the pendulum swinging back to normal instead of the unsustainable explosion of the multifamily sector over the past couple of years. While the fear of a recession... Read more

Rent growth for February snapped the five-month YoY monthly trend of declines. February marked a return to positive rent growth – albeit by just 0.3 percent nationally – after five straight month-over-month declines, according to the March 2023 Rent Report from Apartment List. Despite that minor milestone, for the near term, fundamentals are looking less-than-rosy for landlords. This year could be the first time since the early stages of the pandemic that property owners are competing for renters, rather than the other way around, according to the report. “There are currently more multifamily units under construction than at any point since 1970,” according to the report. “As... Read more