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
05
Sep
The Editors's picture

Multifamily Technology Company Launches Hurricane Harvey Website To Help Housing Providers And Residents

Real estate technology provider Yardi has launched a Hurricane Harvey website to aid its multifamily clients and residents in the region impacted by the storm, according to a release.

“We have many valued clients in the affected area, and it is important to us to assist those clients as well as their residents who may have been displaced. Thousands of people have lost their housing due to this devastating natural disaster, and we want to help in any way we can,” Anant Yardi, president and founder of Yardi, said in the release

Also Yardi has created a $1 million fund to support nonprofit organizations in the rebuilding of the areas affected by the hurricane. In addition to the $1 million pledge, Yardi is matching employee donations to the fund.

Tue
05
Sep
The Editors's picture

Landlord Finds Child’s Body Encased In Concrete In Rental Home

Landlord Finds Child’s Body Encased In Concrete In Rental Home

The body of a small child encased in a concrete structure has been found by a landlord cleaning out a rental property after an eviction in Wichita, Kansas, according to police and news reports.

Police were called after the landlord and property owner, who was cleaning out the rental property, found a suspicious concrete structure emitting an odor inside the house and called 911, Lt. Jeff Gilmore told the Wichita Eagle newspaper. Officers got a search warrant and found the concrete structure and removed it from the house.

It was later discovered that it contained the body of a 3-year-old boy, Evan Brewer, based on preliminary evidence Gilmore said. He said it would take about two weeks for DNA confirmation.

Gubernatorial candidate, and former Wichita mayor,  Carl Brewer confirmed Tuesday that Brewer is his grandson.

Fri
01
Sep
The Editors's picture

National Median Rent Rises - But Only Slightly

National rent rises for september

After falling through the first quarter, the national median rent rises have stabilized in recent months, climbing in September to its highest point of 2017, $1,018, according to a release.

That means that the national median rent has increased .2% over the course of the year from January’s mark of $1,016, according to Abobo.com.

"Typically, rents tend to peak in early fall, and 2017 is following that trend,” said Sam Radbil, Senior Communications Manager for Abodo.com.

“However, it's unusual for September to see the first overall increase for the year. If we look at 2016, for example, the lowest rents of the year were in January, and they climbed fairly steadily throughout the year until a peak around September,” Radbil said.

Thu
31
Aug
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August Rents Continue Up But Construction Delays Slow New Units

August rents up but construction delays could impact future rents

Delays in building new multifamily housing led to a flat August for U.S. rents, as a critical shortage in construction workers is the primary cause, according to a release.

The national average rents rose $1 from July’s figure to $1,352, according to a survey of 121 markets by Yardi Matrix. Rents were up 2.4% during the month on a year-over-year basis, data taken from the Yardi Matrix report.

The gain in August, while modest, kept alive the streak of rent increases for every month in 2017.

Slowing growth in rents came amid signs that the delivery of new housing units is slowing.

While the economy is holding up well and multifamily demand remains strong, fewer than 10,000 new units were delivered in July and August, compared with the average monthly delivery of 14,500 in the first quarter of the year.

Tue
29
Aug
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Low-Income Renters Cannot Afford Even The Cheapest Apartments

low income renters cannot afford even the cheapest apartments

Low-income renters, those who earn the least, cannot afford even the cheapest market-rate rentals in the nation's largest metro areas, according to an analysis of multifamily rents and Census income data, according to a release.

The rent affordability crisis is especially tough for the lowest-earning Americans, according to the release from Zillow.

 Property managers know a common rule of thumb is that people shouldn't spend more than 30 percent of their income on housing, allowing them to save for emergencies and afford other expenses.

Tue
29
Aug
The Editors's picture

Do You Know How Many Tenants Visit Your Apartment Websites On Mobile?

Do you know how many prospect tenants view apartment websites on mobile?

A recent study showed that 64 percent of people visiting apartment websites did so on a mobile device, up from 48 percent just two years ago.

Rentping.com did the study by sampling traffic to 75 apartment community websites.

“We selected a diverse range of community types (luxury, c-level, etc.) and locations (Southeast, Southwest, Midwest, urban, suburban, etc.). Overall, we tracked 823,446 sessions on these various property websites, all from the 2017 calendar year,” the company said in the study.

Mon
28
Aug
The Editors's picture

47 Urban Apartments In Popular Mid-Market San Francisco Now Leasing

New urban apartments in San Francisco now leasing

Described as the “ultimate urban experience,” leasing has started at 570 Jessie Street, 47 urban apartments located in Mid-Market, San Francisco, according to a release.

570 Jessie is an 8-story residential building with 32 studios, starting at $2,600 per month, and 15 one-bedroom units, starting at $3,500 per month. Six of the units will be offered at below market rate, in cooperation with the Mayor’s Office of Housing.

The 500 block of Jessie Street was formerly occupied by warehouses and commercial spaces. In 2015, 550 Jessie Street (60 apartments) was the first residential building to be built on the Street.

 Currently, 521 Jessie Street (83 apartments) is under construction, and is set to be complete next year. In addition to 570 Jessie Street, this half block of Jessie Street will soon be home to nearly 200 apartments.

Tue
22
Aug
The Editors's picture

Top 5 Most Expensive And Least Expensive Cities For Renting

5 most expensive and least expensive cities for renting

A new study of the 5 most expensive and least expensive cities for renting found the median rent for a one-bedroom apartment is $1,000 more expensive in San Francisco than it is in New York.

How much an apartment costs in 50 U.S. cities was the goal of personal finance website GOBankingRates when it examined 50 major cities across the U.S. to identify the cost of a one-bedroom apartment.

 In addition to median rent prices, the study analyzed key factors including the cost of basic utilities and each city's walkability score. GOBankingRates also identified the percentage of apartments for rent in each city with the following amenities: dishwashers, washer-dryers, pools, fitness centers, parking garages and pet-friendly policies.

Top 5 Most Expensive Cities for Renting

1. San Francisco

Tue
22
Aug
The Editors's picture

Former Horse Pasture Now Nation’s Largest Student Housing Complex

Nation's largest student housing project built with public and private financing now open at Texas A&M university

The nation’s largest student-housing development built under a public-private partnership, a 50-acre, 3,406-bed, 2.2-million-square-foot apartment community, is now open on the Texas A&M University campus in College Station, Texas, according to a release.

The Park West Apartments, a $368 million mixed-use luxury student housing project,  was organized through a public-private partnership between the Texas A&M University System, Servitas development, management and operations in Irving, Texas, and The Weitz Company,  construction manager.

Tue
15
Aug
The Editors's picture

Seattle Bars Landlords From Using Criminal Records To Screen Tenants

Seattle bars landlords from using criminal records to screen tenants

The Seattle City Council has passed an ordinance 8-0 to bar landlords from using criminal records to screen tenants based on past arrests or criminal convictions, with the exception of sex offenders, according to a release.

“The Fair Chance Housing ordinance would prevent landlords from screening applicants based on criminal convictions; arrests that did not lead to a conviction; convictions that have been expunged, vacated or sealed; juvenile records,”  Councilmember Lisa Herbold said in a release.  

“The bill also prohibits the use of advertising language that categorically excludes people with arrests or conviction records. The legislation does not apply to people registered as sex offenders who committed their crime as an adult.

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