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Thu
13
Apr
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Apartment Returns Shifting To Secondary Markets

apartment returns shifting to secondary markets

Two researchers report that secondary markets are becoming more attractive for apartment returns now, and for the next few years, according to John Burns Real Estate Consulting.

Adam Artunian, a senior manager, and Alex Wilson, research analyst, report that secondary apartment markets and “what we call surban locations - desirable suburban locations with urban amenities- have shifted to become outperformers.”

Secondary markets, determined by historical permit activity, have had less construction than primary markets and remain more affordable.

Wed
12
Apr
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$55 Million Luxury Arizona Multifamily Property Sold

Luxury multifamily property in Arizona sells for $55 million

A 408-unit luxury Arizona multifamily property has sold for $55.2 million, according to Institutional Property Advisors (IPA).

Indigo Creek, a 408-unit multifamily property in the Arrowhead area of Glendale, Arizona, was sold at a price that represents more than $135,000 per unit.

“Indigo Creek is a vibrant, luxury multifamily asset that provides new ownership with the opportunity to enhance revenue through the continued implementation of the apartment interior renovation program,” Steve Gebing, IPA senior director, said in a release.

Tue
11
Apr
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Immigrants' Strong Desire for Homeownership Will Shape U.S. Housing Markets

immigrants impact on housing in the future

A new report says the housing and neighborhood location choices of immigrants will have a significant impact on urban growth in the U.S. for decades to come, particularly as more foreign-born residents seek to own homes in suburban communities, according to new research from the Urban Land Institute's Terwilliger Center for Housing.

Immigrants seeking to own homes as well as those renting homes are increasingly drawn to the suburbs for employment and lower costs, the report says. Homebuilders and developers who can deliver the housing options immigrants want and need stand to benefit in the years to come.

Tue
11
Apr
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RHJ Announces SEO Partner With Special Discount For Apartment Websites

RHJ announces SEO partnership to help apartment and property management websites

Rental Housing Journal is excited to announce MultiFamily Traffic as our SEO partner.

MultiFamily Traffic specializes in ranking property management & apartment industry websites at the top of Google, Yahoo and Bing search results, and will provide our readers and customers with the best results in the industry.

MultiFamily Traffic ranks your website at the top of Google, driving renters to your property, so you can sign more leases, and driving customers to your site, so you can boom more business. 

Whether you are a single community, portfolio, or a vendor that services apartments, MultiFamily Traffic will bring you more renters, more business, more customers with less effort. 

Tue
11
Apr
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How To Attract Renters With Premium Bicycle Parking Amenities

Bicycle amenities in apartments can attract renters

Sponsored Blog

Bicycle commuting is on the rise, especially with Millennials, and one sure way to attract their attention is by offering the best in bicycle parking amenities and bicycle racks.

By Robert Caston

According to the League of American Bicyclists, bicycle commuting has risen 62%. In bike friendly cities that have invested in their bicycle infrastructure and added safer bike lanes, the number of bicycle commuters has risen by an impressive 105%!

There are 62 million Americans who ride a bike today. Bicycling is particularly popular with Millennials, that huge demographic born between 1980 and 2000. In fact, in a surprising trend, that group is now waiting longer to obtain their driver’s licenses. According to AAA, the number of cars also purchased by people 18-34 dropped almost 30%.

Tue
11
Apr
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HUD Marks National Fair Housing Month In April

HUD marks fair housing month in April

This year marks the 49th anniversary of the Fair Housing Act, landmark legislation that became law on April 11, 1968, according to a release.

 The U.S. Department of Housing and Urban Development (HUD) kicked off Fair Housing Month 2017 at its national headquarters. This year’s theme is Fair Housing Equals Opportunity, highlighting equality in housing as a foundation upon which aspirations can be achieved and affirming the Fair Housing Act’s ongoing role in confronting housing discrimination, according to the release.

Mon
10
Apr
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Rent Control One Step Closer As Bill Passes Oregon House

rent control bill passes Oregon House

A bill that lifts the ban on statewide rent control and leaves the rent control issue up to cities has passed the Oregon House 31-27 and now heads to the Senate, according to reports.

The bill, HB 2004,  that passed also prohibits no-cause evictions. Two Democrats joined every Republican in voting against the measure. It now heads to the Oregon Senate.

The measure would allow cities and counties to enact local ordinances that would control how much landlords could raise rents each year, Oregon Public Broadcasting reported.  Currently, there’s a statewide ban on such ordinances.

Tue
04
Apr
John Triplett's picture

3 Ways Property Managers Can Protect Themselves From Potentially Violent Tenants

3 ways property managers can protect themselves from potentially violent tenants

What property managers and owners can learn from the shooting last year of two property managers in Portland following the eviction of a tenant.

By John Triplett

Rental Housing Journal

The two property managers who were shot by a tenant in their offices in Portland following an eviction late last year, are recovering and doing well according to a spokesman for the company.

The two managers for Guardian Real Estate Services, working at Portland's Cascadian Terrace Apartments developed by Community Development Partners,were shot and wounded by a tenant during an eviction due to behavioral issues in late December, according to reports.

Tue
04
Apr
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Company Acquires 400-Unit California Apartment Community For $94 Million

Apartment community acquired in Orange County, California

A company specializing in value-added multifamily investments has purchased a 406-unit infill apartment community in Orange County, California, according to a release.

The Villas at Tustin Apartments were acquired by The Bascom Group, LLC  and are located in the heart of Orange County. The $94 million sale, or $231,527 per unit, closed on March 28, 2017. 

Villas at Tustin was constructed in 1972 and is located at 2414 N. Tustin Avenue, Santa Ana, California.

 "Villas at Tustin is one of the best investment opportunities we have seen in Orange County. Villas is in a great location with easy access to the 55, 22, 91, and 5 freeways,   Chad Sanderson, Senior Principal for Bascom said in the release.

Mon
03
Apr
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Apartment Occupancy Dropping, But Rents Continue To Grow

apartment occupancy

RealPage and Axiometrics report that apartment occupancy is dropping as more than 164,000 apartment units were finished in the past six months, a time of traditionally slow leasing in the industry, but overall rents continue to grow.

 “Occupancy remains solid relative to the long-term norm, but there are lots of available units at just-completed projects,” Jay Denton, vice president of RealPage’s Axiometrics business group, said in a release. “Also, top-tier existing projects are losing performance momentum for the first time in this market cycle. Some renters from established luxury projects are opting for the newest deliveries in order to take advantage of rent discounts often offered during the initial lease-up process.”

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