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Tue
05
Sep
The Editors's picture

8 Big Housing Changes Driverless Cars Could Bring

8 big housing changes driverless cars could bring by John Burns Real Estate Consulting

Fully autonomous vehicles (AVs), or driverless cars,  should become commonplace within 10 to 20 years, disrupting entire industries while triggering structural shifts in housing and the economy, according to new research from John Burns Real Estate Consulting.

“The path to government approval and consumer acceptance of AVs will have hiccups no doubt, so we expect ride-sharing along with semi-autonomous vehicles to kick-start the movement towards AVs,” writes Rick Palacios Jr. Director of Research.  

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
The Editors's picture

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
The Editors's picture

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.

Tue
29
Aug
John Triplett's picture

Top 3 Training Needs For Property Managers

Top 3 training needs for property managers and leasing agents

Training property managers and leasing agents in Fair Housing compliance issues continues to be a top issue in the multifamily housing industry, according to a new annual study.

Compliance with Fair Housing to reduce risk is the main way property management measures training success today, according to 66 percent of those in the study. The study was the annual Multifamily Training Benchmark Report from Grace Hill, a leader in online training for the property management industry.

“Compliance with Fair Housing is what keeps our entire industry up at night,” Dru Armstrong, CEO of Grace Hill, told Rental Housing Journal in an interview.

Mon
28
Aug
Richard Montgomery's picture

7 great reasons to invest in smaller multifamily real estate

7 great reasons to invest in smaller multifamily real estate

Are smaller multifamily buildings a better fit for many real estate investors than larger multifamily commerical buildings? This week veteran real estate investor Richard Montgomery, who knows real estate investing, from up-close, get-your-hands-dirty rehab to armchair investing using your self-directed IRA as your funding vehicle, takes on this question from a reader:

Mon
28
Aug
The Editors's picture

Dear Landlord Hank: My Tenant Wants To Repaint His Unit – What Should I Do?

Dear Landlord Hank: Should I let a tenant repaint?

Tenants wanting to paint one of our rentals is something that often comes up. Should I let a new tenant repaint his unit? Each week veteran landlord and property manager Hank Rossi answers questions from other landlords and property managers around the country about their rentals.

By Landlord Hank Rossi

Dear Landlord Hank,

A new tenant has moved into one of my units and has asked if he could repaint. I just paid to have the unit painted white so it would go with everything. What do you think?

Dear Landlord Mike,

I would tell the tenant that he cannot make any changes to the paint.

In the past, tenants have sworn they would repaint to original color and it has never happened.

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