We start this week’s round up of the top multifamily reads with a look at what apartments owners can do to keep their renters around. An article from the National Apartment Association (NAA) examines the top value-add features that not only increase retention but also raise rents. Tech and smart-home features have joined traditional upgrade areas (kitchens, bathrooms and floors) as top targets. While more renters are choosing to renew their leases today compared to five years ago, certain metro areas see a greater prevalence of renters staying put. A guest contributed article from Real Page analyst Brandon Crowell in Forbes dives into the details. Two of the top 10 markets for renter retention – Chicago and Northern New Jersey – also appear on the top 10 list of investment sales markets for the first half of 2017 compiled by National Real Estate Investor (NREI). We close this week’s list of stories with RCA’s update on overall U.S. commercial real estate prices, which hit a new high in June.  

Photo by William Wachter on Unsplash

Photo by William Wachter on Unsplash

Apartment Upgrades That Move the Needle

via National Apartment Association – July 24, 2017

“At this point in the cycle, it is harder to make money building or buying pristine, core apartments. But if you can add value through renovation—taking an apartment community from a B-minus apartment to a B plus or an A, there is still potential to make a significant return.”

 

Should I Stay Or Should I Go? How Renters Decide to Renew Leases

via Forbes – July 31, 2017

“More apartment renters nationwide are choosing to renew their leases when they expire, rather than move out. That trend has been growing for more than five years. The question is where are renters more likely to stay in place?”

 

US Prices Rise 0.9% in June, RCA CPPI Report Shows

via Real Capital Analytics – August 1, 2017

“The US National All-Property Composite index rose 0.9% in June from a month earlier and climbed 7.9% from a year ago.”

 

The Top 10 Markets for Investment Sales

via National Real Estate Investor – August 2, 2017

“Even with a decline in transaction volume, sales remain relatively robust in most major metros. Combined, the top 10 most active sales markets during the first half of the year accounted for 35 percent of total sales at $74.4 billion.”