Tenants are moving to the suburbs in droves, according to CoStar’s latest apartment report, and downtown landlords are cutting rents.
The national shift toward remote work is shifting rental demand from urban areas to suburban areas, as many workers across the country look for more space at a lower cost, according to a new report from Marcus & Millichap.
It’s easy to hit your numbers when times are good. But for multifamily pros navigating the fallout of COVID-19, 2020 has been about finding ways to maximize net operating income (NOI), even when times are tough.
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The National Multifamily Housing Council reported that 79.3 percent of surveyed households made a full or partial rent payment by August 6. That’s slightly better than last month’s 77.4 percent, and just shy of the August 2019 level of 81.2, according to NMHC’s Rent Payment Tracker .
If you live in a property covered by the CARES Act, landlords can now legally ask you to leave and start charging late fees, but the soonest they can legally file an eviction to force you to leave is Aug. 24.
Multifamily real estate has proved its mettle as a top-performing asset class. A big part of its recession-resistant nature lies in the resilience of housing and the basic need for shelter.
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 91.3 percent of apartment households made a full or partial rent payment by July 20 in its survey of 11.1 million units of professionally managed apartment units across the country.