Multifamily rents continue to rise slightly as the market absorbs the steady supply of new apartments, Yardi Matrix says in the April National Multifamily Report. “Although rent growth remains moderate, there are plenty of encouraging signs in the data. Most importantly, demand for apartments continues unabated due to high levels of household formation stemming from the strong job market, large numbers of immigrants and ongoing migration to the South and West,” the report says. Also, the absorption of new apartment units was strong around the county and “particularly in high supply metros wher ..read more

The U.S. Department of Housing and Urban Development (HUD) has issued two guidance documents addressing the application of the Fair Housing Act to two areas in which the use of artificial intelligence (AI) poses particular concerns: the tenant-screening process and its application to the advertising of housing opportunities through online platforms that use targeted ads, according to a release. “We have released new guidance to ensure that our partners in the private sector who utilize artificial intelligence and algorithms are aware of how the Fair Housing Act applies to these ..read more

In the current multifamily marketplace, operators should concentrate on basics and functionality that today’s residents want. So with that in mind, here is a look at the four upgrade measures most likely to pencil out from a value-proposition perspective for capital improvements. By Tim Bruss As apartment owners and operators clamor to offer more attractive communities than their competitors, it can seem like a creativity contest at times. The temptation to incorporate previously unseen amenities and in-home features certainly exists. While that approach might evoke an initial reaction, howeve ..read more

The role of mapping technologies in self-service leasing and how interactive technologies have optimized many facets of leasing.  By Andrew Rhuland “Show and tell” has taken on a whole new meaning since the rapid acceleration of self-guided tours and self-service leasing. Whether due to the desire to tour alone or simply being drawn to a more convenient way to tour communities, prospects are engaging self-guided tours more than ever before. At this point prospects expect that apartment communities will offer self-guided tour options, and there is no turning back to the way things once wer ..read more

Rent prices continued to climb for the third month in a row, and while rent increases were modest and sluggish, further increases could stall, Apartment List says in its May report. The rental market is transitioning into the busy season, with the national median rent increasing for the third straight month but the pace of that positive rent prices growth slowed in April. “Rent growth is stalling out at the time of year when the rental market is normally gearing up for its busy season. Year-over-year rent growth is also indicative of a sluggish market, remaining negative at -0.8 percent,” Apar ..read more

A Georgia landlord who owns and manages more than 45 properties has agreed to pay $600,000 in a consent order to settle a sexual harassment charge with the U.S. Department of Justice, according to a release. According to the release, Iraj Shambayati, a landlord who owns and manages over 45 residential properties in and around Savannah, Georgia, has agreed to pay $600,000 to resolve allegations that he violated the Fair Housing Act (FHA) by sexually harassing and retaliating against his female tenants for over 15 years. “Sexual harassment by a landlord is never acceptable,” U.S. Attorney Jill E ..read more

The surge in built-for-rent single-family homes – many with corporate ownership that resembles multifamily housing – have experts split on the long-term housing implications of this trend, according to a report from Apartment List. “Single-family homes account for roughly two-thirds of the nation’s housing stock, and the majority are occupied by the families that own them. But a sizable share – 16.6 percent – are rented instead, and recent trends in construction data suggest that these single-family rentals will become an increasingly popular housing option in the years to come,” Rob Warnock w ..read more

3 ways to take a look at your rental property portfolio if you feel stuck in your current situation as a housing provider. By Scot Aubrey Have you ever looked at your life as a housing provider, considered your property portfolio, and questioned why things just aren’t working out in your favor? If you’ve been doing this for any period of time, the answer is a resounding yes.  If you haven’t, well at least you have that to look forward to.  Here’s the great thing, you can blame it on your brain, specifically on what scientists call cognitive dissonance. Similar to the person who wants ..read more

Digital infrastructure and Wi-Fi at most apartment communities aren’t built to withstand the connectivity and cyber security needs necessary to support the influx of new technologies that are now the core of modern multifamily operations. By Andrew Ruhland  The multifamily industry is becoming increasingly digitized, and operators have no choice but to get on board. The resident experience depends on it. We’ve seen the emergence of tech-centric features such as centralized leasing, smart access controls, self-guided tours and the internet of things (IoT), all of which have completely mode ..read more

Conflict is inevitable, but the key turning point is when resident bullying and resident harassment turns into a the Fair Housing Act issue and cannot be tolerated. By The Fair Housing Institute It’s simply a part of managing any property; your residents aren’t always going to agree. This makes conflict inevitable, but the key turning point is when it turns into bullying and harassment. To be clear, the Fair Housing Act states that resident bullying and harassment cannot be tolerated. Are you sure that your property, as a whole, has the best practices in place when it comes to resident bullyin ..read more