A recent press from Zillow showed that Salt Lake City (50.9%) is among a group of cities where concessions are being offered at more than 50% of the multifamily properties in the market. Of all of the rental listings on Zillow, 33.2% of properties are offering concessions. More data: the number of apartments having completed construction in June-2024 (nearly 60,000) was the highest amount completed in that month in 50 years. Finally, since July-2022, rents nationally have increased an average of 5.10%.

 

Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.

 

Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.