Chicago Multifamily Property Blog

Apartment operators are fighting to retain and hire talent, and that’s a win for community managers, leasing agents and maintenance technicians. Apartment payrolls have surged by 12.6% in 2021 — lifting the average increase in the COVID-era to 8.9%. By comparison, payrolls grew by an average of 3.2% annually pre-COVID.

While geo-mapping and SEO optimization are apartment marketers’ shiny new toys, going back to the basics can serve managers well.

Trion’s Sharkansky also is bullish on laundry. Trash collection, water usage, pest control, and sewage fees are also looking up. “Ratio utility billing [RUBS] is huge,” he says. “Although I don’t know if you can qualify that as ancillary income; it’s more of an expense reimbursement, but it’s on the income side of the P&L.”

Entering the third year of rental market disruptions caused by the pandemic, Avail (part of Realtor.com®) surveyed independent landlords and renters across the country to find out how they’re faring. Our data revealed moving trends, insight into rent payments and evictions, and how landlords plan to financially recoup and adapt their renting policies for a post-pandemic era.

Investing in real estate in times of market stress is always a balancing act. “The trade-off is always between the safety of the asset and the probability of default,” Cecchini said. However, multifamily housing remains an area of the market he believes that can still perform favorably.

With unprecedented access to 152 million U.S. commercial and residential property records, agents can help their clients make informed decisions, and ultimately grow their businesses.