Apartments

INVESTORS AVOID FIXER-UPPER APARTMENTS. COSTAR ANALYSIS SHOWS BUYERS FLEEING TO SAFER MIDDLE-TIER PROPERTIES. Apartment investors are getting nervous about buying fixer-uppers

With some unemployment benefits from the CARES Act set to expire at the end of next month, industry groups are pushing for more federal aid.

The continuing long-term decline in turnover has accelerated recently due fewer tenants moving because of the COVID-19 economic downturn

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 80.8 percent of apartment households made a full or partial rent payment by June 6 in its survey of 11.5 million units of professionally managed apartment units across the country.

More renters are canceling move-out plans and requesting short-term lease extensions, and property managers are offering unprecedented flexibility to accommodate them.

All told, 90% of renters made full or partial payments from April 1-12, 2019, compared with 91% of renters in March 1-12, 2020, according to the NMHC. That is a payment rate of 93% compared to the same time last month.