See the video here: http://bit.ly/JpqMck Sorry, couldn’t figure out how to load their video directly into this post. Any suggestions? Thanks.
Tag: rents
5 Tips on how to choose the best internet listing service (ILS) for your apartment building advertising.
With so many online ad sources to choose from, how can you be sure which is best for your apartment building investment? Below Jason Velazquez, VP of Strategic Initiatives at Colliers of offers 5 tips for choosing a great ILS:
Does their traffic measure up? Most Internet Listing Services (ILS) will happily provide you with their web statistics. Take the time to thoroughly review any report offered to you before you sign on the dotted line.
Check whether they’re popular in your city. Simply because an ILS is nationwide, doesn’t necessarily mean they have high web traffic in your city. A simple way to gauge an ILS’s regional market penetration is to google the keywords – apartments in city name, and then scroll through the search results until you see their site. Don’t just search using the city you are located in; type other city names that your prospects move from.
If the ILS isn’t on the front page of Google, you may want to find an alternative ad source. Studies have consistently shown the majority of renters look for their apartment using search engines.
Before you run a Google search: Continue reading 5 Tips on how to choose the best internet listing service (ILS) for your apartment building advertising.
Essex Prop. Trust on Seattle Apartment Building Investment: rents up 6.5%, NOI +11% but 10k new units coming
My Exec Sum: Seattle apartment building investment results from Essex Property Trust Q1 call:
- Seattle demonstrated exceptional same-store NOI and revenue growth of 11.2% driven by very limited supplies of housing and job growth that exceeds national averages
- On operating expenses we expect a 2.3% increase for the second quarter ’12 over the second quarter in ’11
- Seattle rents were up 6.5% compared to the first quarter of 2011. So depending on the submarket, we are now 4% below to even with our prior rent peaks.
- renewal offers for June and July averaged +6% to 8% in Seattle
- As of April 30, its occupancy was 96.1% with a net availability of 5.1%.
- We view this turnover activity (50-55% YoY) as healthy because it provides us with more opportunity to grow rents. Additionally, we only saw a nominal increase in move-outs due to home purchases and affordability.
- Cap rates continue Continue reading Essex Prop. Trust on Seattle Apartment Building Investment: rents up 6.5%, NOI +11% but 10k new units coming
Stealth concessions in large US cities = falling apartment building rents? See the list via MFE Magazine
This was an eyeopener for us in the apartment building investing business: Large US cities with falling rents. The table is from TransUnion, I wonder what their sampling methodology is- And I wonder how that breaks out by asset class.
Yes of course there are cities with rising rents but Denver rents down almost 9% in a year? In 2011? Even Chicago down almost 5%? And DC the apartment hotbed has falling rents? Supposedly their data comes from managers supplying info for tenant screening and if that’s the case it seems like there are some serious concessions being given.
Portland Apartment Building Market: occupancy drops but rents still rising according to report
Apartments are a little easier to come by in the Portland area, but that’s not slowing down rent increases across much of the market.
According to the Metro Multifamily Housing Association which released its latest survey Wednesday:
- Vacancy across the metro area grew to 3.72% from 3.34% late last year.
- Rents climbed 3% in the same period, reaching $1 a square foot per month across the metro area.
- Average two-bedroom unit now rents for $771, up $28 a month compared with six months earlier.
The Portland area has one of the lowest Continue reading Portland Apartment Building Market: occupancy drops but rents still rising according to report
Handy Apartment Building Investment Market Reports- interactive one-pagers from Reis Reports.
Reis puts out these really handy one page reports with all the major QoQ changes broken out by sub-market. Here’s the latest on Portland, OR:
Click on the image above to go to a list of markets then select Continue reading Handy Apartment Building Investment Market Reports- interactive one-pagers from Reis Reports.
Seattle Multifamily Vacancy at 4.2% Says Dupre + Scott, average rents over $1,500 too.
For more on the Seattle area apartment building investment climate see the Seattle Times article here: Apartment rents likely to keep rising through 2012
Hat tip: Paul McFadden