Rent is a word that we have come to hate and fear. The average cost of living in America has increased from last year with Manhattan at the forefront, followed by Los Angeles and Washington, DC. Just last year a Pew Research study discovered that more young adults were moving back home after graduating and staying for longer periods of time than previous graduates.
Photo provided by Ron Solomon.
Property managers know how important lease-up rates are — it’s a huge part of the job, after all. But not every apartment just sells itself with its location! We've listed a couple of ways you can up the ante if your property isn't conveniently located within walking distance of public transportation options.
The internet has revolutionized the way property owners can market multifamily apartment buildings. However, it has also created an overwhelming and overpopulated marketplace full of competitors trying to convince potential renters why they need to live in their complex instead of yours.
Turning the tides toward sustainable habits via transportation demand management requires buy-in from so many different parties.
We've suggested before that proximity to public transit is a bigger factor in searching for a multifamily apartment than in traditional home-buying. Now, we've got the data to back it all up.
If you're in the real estate market in 2018, then you know how powerful location is. Not just location to nearby attractions (although those are still valuable), but location to public transit.
You already know that the secret to attracting and retaining residents is to provide them an experience, something other properties just don’t have. Sometimes it can feel like it’s just about the neighborhood, the nearby coffee shops, the Instagram account showing off the vibe.