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
21
Nov
The Editors's picture

Arizona Tenant Charged With Murder In Stabbing Of Landlord

Arizona Tenant Charged With Murder In Stabbing Of Landlord

An Arizona tenant has been charged with murder in the stabbing death of his landlord in a rent dispute three months ago, according to reports.

James Womble, 21, has been charged with one count of second-degree murder after stabbing Peter Gillespie, 63, in Flagstaff on July 25. He pleaded not guilty to the charge and is claiming self-defense, according to the Arizona Daily Sun.

The Coconino County Attorney’ Office which delayed charging Womble until it received all of the forensic evidence from the Department of Public Safety Crime Lab.

Mon
13
Nov
The Editors's picture

Rents Up An Average $30 From A Year Ago But Slowing

Rents in the latest yardi matrix monthly report

Seasonal factors and an extended deceleration in national rent levels combined to reduce U.S. rents by $4 in October, according to a survey of 121 markets by Yardi Matrix.

The drop to $1,358 reflects an expected slowdown in rent growth at the beginning of the last quarter and the multifamily sector’s ongoing deceleration from cycle highs in 2016.

“Overall, the drop on a national level is no surprise. It comes at the beginning of the fourth quarter, when rent growth tends to slow due to seasonal factors. Moreover, the multifamily segment is in the midst of an extended deceleration from the cycle highs of 2016. Nationally, rents are only $5 off their all-time peak set in August and are $30 above their level a year ago,” the Yardi Matrix report states.

Fri
10
Nov
The Editors's picture

High Credit Score Needed By Tenants In Class A Apartments

Higher credit score needed by tenants in class a apartment buildings

Landlords are demanding a higher credit score in many major cities for Class A apartment buildings, especially in the tight rental markets in Seattle and San Francisco, according to new research.

The research from RentCafe, a Yardi Matrix company, looked at the average credit score of rental applicants in the nation's most competitive markets.

While the metros have high credit score requirements, the average across the entire country is also up from a score of 638 in 2014 to 650 now in 2017 and getting more aggressive. . If you think these credit standards are a bit harsh, try to get into a high-end building. The average score of renters accepted in Class A buildings is 683.

Tue
07
Nov
The Editors's picture

Seattle Councilwoman Wants Landlords To Pay Tenant Relocation Costs

Seattle councilwoman wants landlords to pay to relocate tenants

Sound familiar Portland?

Seattle seems to be following Portland’s lead with the latest proposal from a city councilwoman to have landlords pay three months of tenant relocation costs, including rent in a new housing location, according to reports.

Seattle City Councilmember Kshama Sawant plans to introduce a bill requiring landlords to pay to relocate tenants who can no longer afford rent. The proposal would force landlords who raise rent by more than 10 percent in a year to pay a tenant's rent for three months if they have to move out.

Mon
06
Nov
The Editors's picture

Seattle’s Avenue5 Property Management Named One Of Fastest Growing Private Companies

Seattle property management firm named one of fastest growing

Seattle's Avenue5 Residential, a multifamily property management services firm, has been named as one of the 100 Fastest-Growing Private Companies of Washington for 2017 in the Puget Sound Business Journal's prestigious annual list, according to a release.

The company has ranked fourth place on the list, based on its revenue increase from 2014 through 2016.

Mon
06
Nov
The Editors's picture

Airbnb, Pillow Partner To Make Home Sharing in Apartments Easier

Home sharing partnership between Pillow, Airbnb and Veritas

Airbnb and Pillow have announced a new home sharing partnership to launch in San Francisco that will support landlords and tenants who share their homes on Airbnb, according to a release.

Under the new partnership, Pillow Residential will become the preferred partner for landlords enrolled in Airbnb's Friendly Buildings Program.

Pillow Residential's tools for multi-family housing owners and operators include online dashboards that give landlords information about home sharing and services for hosts who want extra help sharing their space.

Mon
06
Nov
The Editors's picture

Provo Company Says “Tell Alexa”To Open Your Smart Blinds

Smart blinds can enhance your apartment or home

Home automation company MySmartBlinds, who released their smartphone-controlled, solar-powered window smart blinds in 2016, are headed for the cloud, according to a release.

The MySmartBlinds hub, which launched on Kickstarter on November 1, will give new and existing MySmartBlinds users access to their window coverings through their Amazon Echo. This means in addition to energy savings, sun-tracking, in-app scheduling, and solar charging, MySmartBlinds users will now be able to enjoy voice control and access their blinds when they are away from home. Pretty smart.

Mon
30
Oct
John Triplett's picture

70% Of Tenants Think Renting Is More Affordable Than Buying

http://www.freddiemac.com/multifamily/pdf/profile_of_renter.pdf

A large number of renters view renting as an option that fits their lifestyle, and a strategic choice at many life stages, according to new research.

By John Triplett

Rental Housing Journal

More renters say they are satisfied with their living situation and consider it the most affordable option for the foreseeable future despite their view that housing prices -- both to purchase and rent -- continue to rise and supply continues to tighten, according to the research from Freddie Mac and the Harris Poll.

Wed
25
Oct
The Editors's picture

Portland, Salt Lake City Rank No. 1 and No. 2 As Safest Places To Live

Portland, Salt Lake City rank No. 1 and No. 2 as safest places to live

Portland and Salt Lake City rank No. 1 and No. 2 as the safest places to live in the U.S. to avoid natural disasters, and Seattle comes in at No. 5, according to a new report.

The Top 10 Safest Places to avoid natural disasters were analyzed and used eight risk factors from the data to determine the list, according to Sperling's BestPlaces. They looked at the 50 largest metro areas for the report.

The risk factors were weighted by severity and frequency of the threat with the top threats at the top, such as tornados and hurricanes, then flooding and earthquakes, and drought, hail, wind and wildfires which were considered less impactful.

Wed
18
Oct
The Editors's picture

Utah Faith Leaders Urge Action On 3 Affordable Rental Housing Issues

Utah faith leaders urge action on affordable rental housing

Utah faith leaders delivered a letter urging the mayor and Salt Lake City Council to take action on the issue of affordable rental housing before a downtown homeless shelter closes in 2019, according to reports.

 "Market forces have driven rental prices beyond what many families in the rental market can afford," the letter states. "This leaves too many families on the edge of crisis."

About three dozen members of the Coalition of Religious Communities hand-delivered the letter to Mayor Jackie Biskupski, praising the mayor for her proposal to spend nearly $22 million next year on affordable housing projects in the city, according to the Deseret News.

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