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The real cost of those choices plays out over years: in maintenance calls, turnover time, mold remediation, resident complaints and, ultimately, rent premiums lost or captured. — Melissa Schroeder, VP of Business Development, Mincey Marble

Developers building new multifamily projects scrutinize every line item — and bathroom materials are no exception. But the bid price on tile, fiberglass or cast marble shower panels and pans tells only part of the story. The real cost of those choices plays out over years: in maintenance calls, turnover time, mold remediation, resident complaints and, ultimately, rent premiums lost or captured. Over a 10- to 15-year hold period, bathroom material selection impacts maintenance budgets, unit turnover speed, resident satisfaction and asset value. And yet it’s still treated as a …

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Shelly Peterson, Smart Package Room

Running a leasing and management office and running a mailroom are two different jobs. At many multifamily communities, one team is doing both. But manually processing an increasing volume of parcels can consume untold staff hours and pull people away from leasing, marketing and other priorities — driving up costs and dragging down the operational efficiency needed to maximize occupancy and protect NOI. With last year’s slumping rent growth dampening operators’ revenue expectations, more multifamily owners are seeking help to turn package management from a labor-intensive cost center into a …

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White Matt Berkadia Multifamily Atlanta

— By Matt White, managing director, Berkadia Across Metro Atlanta, distress and loan assumptions are no longer edge cases — they’re driving a meaningful share of multifamily transaction activity and quietly resetting the market’s pricing benchmarks. Deals that can successfully navigate legacy debt structures, rising operating costs and shifting return expectations are revealing where true clearing values lie and which capital stacks still work in today’s environment. The same forces driving distress in Dallas, Phoenix and Austin — floating-rate and bridge debt maturities, late-cycle construction and operating cost inflation — are …

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Shelly Peterson Smart Room Package management Multifamily quote

At too many multifamily communities today, managers spend much of their time receiving, safeguarding, retrieving and tripping over a rising tide of parcels awaiting pickup by residents. A range of cages, lockers and other systems promise to ease the package management burden, but most still require staff oversight and may not securely accommodate bulky items or seasonal surges in deliveries. “The sheer volume of packages residents are getting has increased, and that has driven a lot of frustration with package management,” says Shelly Peterson of Smart Package Room, which makes …

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Z Modulars Aerial Image

By Randall Towb of Mitsubishi Electric Trane HVAC US (METUS) Texas multifamily owners and developers are utilizing all-climate variable capacity heat pumps and variable refrigerant flow (VRF) systems for heating and air-conditioning (HVAC) needs in their low-rise, mid-rise and high-rise buildings. These systems deliver on both resident satisfaction and building owners’ return on investment (ROI) thanks to key benefits such as energy performance, zoned comfort, design flexibility, quiet operation, reduced maintenance and advanced controls and monitoring. In addition to resident comfort and ROI, these all-electric systems align with growing concerns …

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Multifamily TheGuarantors Eben MacNeille

Despite the persistent housing shortage, landlords are having a more difficult time qualifying potential residents, especially non-traditional applicants who don’t check the usual boxes for credit and employment history. Renters are also facing bigger hurdles for income, credit and up-front deposits. “It has become increasingly expensive and challenging to rent an apartment in the United States,” says Eben MacNeille, senior director of sales at TheGuarantors. The New York-based financial technology company serves the multifamily industry by providing lease guarantees, security deposit replacements and renters insurance and compliance solutions. Today’s renter …

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Carol Nelson Mountain Region Asset Living headshot and quote from article

Population growth in the Mountain states over the last several years has fueled historic apartment construction across Colorado and Utah. The activity has created some supply overhang in the Denver and Salt Lake City markets in particular, but continuing in-migration, housing shortages and the high cost of home ownership could sustain their resiliency, say two of Asset Living’s newest executives in the region. Based in Houston, Asset Living manages assets valued at $55 billion nationwide, including more than 1,750 apartment properties in addition to student, affordable and single-family build-to-rent housing. …

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Courtney Wilson Multifamily NOI TheGuarantors quote

Multifamily operators face a number of challenging factors in today’s market. The spike in the cost of debt along with higher expenses across the board — from property insurance and taxes to construction and labor — as well as adverse effects left over from eviction moratoriums are eating away at net operating income (NOI) across the country. During the third quarter of 2023, multifamily expenses grew 7.2 percent, more than double the rate of inflation, according to Freddie Mac’s 2024 multifamily forecast. Additionally, rent control efforts in some jurisdictions are …

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Affordable Housing Demand Berkadia Marge Novak quote

Multifamily & Affordable Housing Business sat down with Marge Novak, senior vice president and head of Capital Markets at Berkadia, for a question-and-answer discussion about the current state of the affordable housing market and the challenges likely to influence 2024. Multifamily & Affordable Housing Business: How is the affordable housing market faring in the current economic conditions? Novak: With increased inflation and interest rates, home prices hit all-time highs, making them less affordable than at the height of the 2006 housing bubble. While buyers waited for prices to fall, sellers …

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Robert Hicks Occupancy Asset Living

Sensing a shift in the wind, multifamily property manager Asset Living is preparing for a bumpier leasing environment amid rising supply, slowing rent growth and overall economic uncertainty. While an adjustment, it shouldn’t come as a complete shock, says Robert Hicks, an Asset Living division president in charge of the conventional multifamily business in the western United States. Over the past handful of years, the sector has enjoyed some of the highest occupancies he has seen in his 25-year career in the industry, he points out. At the same time, …

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