News & Trends

This department of Rental Housing Journal is dedicating to keeping apartment owners, multifamily executives, real estate investors, landlords and other real estate professionals up to date with the latest trends in real estate, property management and more. Here you will find trends in rents, real estate sales, apartment development, the economy at large and property management and investing industry matters.

real estate market trends
Tue
24
Jul
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Tempe Apartment Complex Sold For $60.5 Million

Tempe Apartment Complex Sold For $60.5 Million

A 402-unit Tempe apartment complex has sold for $60.5 million, or $150,498 per unit, according to a release.

Willow Creek, built in 1984, Willow Creek is about one mile from Loop 101/Apache Boulevard light rail station and one-half mile from the intersection of the Price Freeway and Broadway Road, according to the release from Institutional Property Advisors (IPA), a division of Marcus & Millichap.

Tempe apartment complex a prime candidate for renovations

 “The property is a prime candidate for interior renovations as the large majority of unit interiors feature original finishes,” Cliff David, Marcus & Millichap senior managing director, said in the release.

Tue
24
Jul
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Mortgage Group Provides Bridge Loan For Acquisition of Phoenix Multifamily Property

A leading mortgage group has provided an $11 million first mortgage bridge loan to finance the acquisition and renovation of a Phoenix multifamily property on North 12th street, according to a release.

Regency Park Apartments is a 104-unit garden-style multifamily complex at 6333 N. 12th Street , part of the North Central Phoenix apartment submarket. The property was built in 1971 and consists of six, two-story residential apartment buildings and a single-story clubhouse building.

The property is being acquired through two Tenant-in-Common borrowers and will be owned by Palos Verde Phoenix, LLC and Regency Park Associates, LLC.

Tue
24
Jul
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Living In Cars Turning Into New Form Of Affordable Housing

Living In Cars Turning Into New Form Of Affordable Housing

Thousands of potential tenants are now living in cars instead of rental housing because rents have just become too expensive and there is no affordable housing for them in some metro locations.

This lack of affordable housing is leading some cities to consider safe parking programs. This new form of affordable housing would allow people who live in their cars a safe spot to park because many cities make the practice of living in a car illegal.

Seattle has 46 percent increase in homeless living in cars, tent camps and RVs

The Seattle Times reports that King County’s annual one-night count of homelessness found more than half of homeless people were sleeping outside versus in shelter, with a stark increase in the number of vehicle campers.

Wed
18
Jul
The Editors's picture

Company Rolls Out Smart Apartment Technology Package To 25,000 Units

Company Rolls Out Smart Apartment Technology Package To 25,000 Units

Smart apartment home technology using thermostat and lighting control, digital home access and voice-enabled control is being rolled out nationwide to 25,000 luxury apartments, according to a release.

Alliance Residential Company, Dwelo, Google and Nest have collaborated on the smart apartment rollout to deliver convenience, connectivity and conservation capabilities, as well as provide management operational efficiencies.

The Alliance SmartHome package features the Nest Learning Thermostat and Google Home Mini with Google Assistant built-in, as well as smart locks, light switches and wall outlets. Control of all devices is centralized through Dwelo, an open platform compatible with a wide range of consumer and commercial iOT devices, with convenient access for residents via the Alliance SmartHome app for smart phones.

Tue
17
Jul
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Portland Plans Pilot Program To Expunge Criminal Records For Renters

Portland Plans Pilot Program To Expunge Criminal Records For Renters

Mayor Ted Wheeler is planning to have the City of Portland launch a pilot program designed to help potential renters expunge criminal records in an effort to give them access to better housing options, according to reports.

In Oregon, violations, misdemeanors and low-level felonies can be expunged, according to the Oregon State Bar, and only after 10 years without another conviction. Prosecutors and victims may object to the expunction, according to Oregonlive.com.

Mon
16
Jul
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Topless Woman Charged For Apartment Damage With Front End Loader

Topless Woman Charged For Apartment Damage With Front End Loader

The topless woman who drove a stolen front end loader into a Montana apartment complex has been charged with four felonies and two misdemeanors after doing $1,600 in damage to the apartment complex, according to reports.

Officers detained the woman at the scene and interviewed a witness who stated the front end loader crashed into his upstairs window and the woman, who lived in the upstairs apartment next door, climbed into her own upstairs apartment from the front end loader, grabbed some clothes and was trying to leave before officers arrived, according to the Great Falls Tribune.

Mon
09
Jul
The Editors's picture

44 Percent Of Workers Would Quit For Better Pay

44 Percent Of Workers Would Quit For Better Pay

New research from staffing firm OfficeTeam, a Robert Half company, says more than two in five professional office workers, 44 percent, said they'd leave their current job for one with better pay.

Whatever the reason for leaving, employees should have a good exit plan when parting ways with a company. In a separate survey of HR managers, 83 percent said the way someone quits affects their future career opportunities.

 

More women would resign for better pay than men

In terms of gender, 47 percent of women would resign if offered more money elsewhere, compared to 40 percent of men.

Among professionals in the 28 U.S. cities surveyed, those in Des Moines, Cleveland, Philadelphia and Salt Lake City are most attracted by a bigger salary.

Fri
06
Jul
The Editors's picture

Rents Upsurge Of 2.9 Percent Nationwide In June

Rents Upsurge Of 2.9 Percent Nationwide In June

Renters are paying an average of $40 more per month than a year ago as June rents brought an upsurge of 2.9 percent in national average rents, according to RENTCafe.com, based on Yardi Matrix data.

The national average rent reached the all-time high of $1,405.

 

Mon
02
Jul
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Prices Rising Fastest For Two-Bedroom And Three-Bedroom Apartments

Prices are rising the fastest for two-bedroom and three-bedroom apartments, according to a new rent report, and tenants should expect to see higher prices this summer than last.

Prices are rising the fastest for two-bedroom and three-bedroom apartments, according to a new rent report, and tenants should expect to see higher prices this summer than last.

Rent among two and three-bedroom homes is appreciating slightly faster than one-bedroom homes in U.S. metros with more new apartment construction, according to a release from the Zillow affiliate HotPads® Rent Reporti.

Tue
26
Jun
The Editors's picture

Potential Regional Multifamily Supply Overload In Key U.S. Housing Markets

Potential Regional Multifamily Supply Overload In Key U.S. Housing Markets

Outsize multifamily deliveries and development activity in some major metros could increase vacancy rates and stagnate rent growth, according to a new report by Yardi® Matrix focusing on regional multifamily supply in some key U.S. housing markets.

Yardi Matrix conducted a study to determine which areas might be at risk of oversupply or undersupply over the next five years.

The research revealed that deliveries in 2016 and 2017 helped compensate for the construction shortage in the wake of the great recession.

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