The growing need for rental properties will also continue to fuel growth in multifamily, AmTrustRE President Jonathan Bennett said. Space constraints will mean that entrepreneurial developers will need to work with municipal and zoning boards to increase potential development sites that feed the country's housing stock, and focus on conversions.
by Randolph Taylor
With thousands of units delivered this year alone, some might call it a year for the books. The market itself remained strong, with rent up about 9% in Chicago YOY. Because of the delay in units being delivered as a result continued economic roadblocks, rent is predicted to remain robust throughout 2023.
by Randolph Taylor
In January, Bisnow polled CRE experts for their takes on what would be the dominant trends of 2022. Below, we break down what they got right and what they missed.
by Randolph Taylor
Renter incomes continue to grow, but the pace is moderating ... and interestingly, the moderating pace of growth mirrors the trend in asking rents. Still, this is an encouraging trend for renter affordability -- with household incomes among new lease signers up 8.1% year-over-year in November.
by Randolph Taylor
These are the average available rates from eXp Commercial's Capital Partner CommLoan database of 700+ commercial lenders as of 12/05/22 and are provided for comparison purposes only. Actual rates are dependent on property and sponsor.
by Randolph Taylor
Airbnb rolled out a listing service for apartments that will include buildings where short-term sublets are allowed. Landlords who partner with the service will get a cut of the total booking revenue, usually 20%.
by Randolph Taylor