Admittedly, this story is from December-2023. As I write this, it is April 22, 2024. But in December-2023, landlords in 43 of 50 markets (86%) across the United States were offering concessions. At that time, Salt Lake City lead the pack with 54% of the properties offering concessions. I can only imagine that the 54% level has increased and likely has increased dramatically. The Crossroads of the West (Salt Lake City) also has the distinction of having made the greatest leap in properties offering concessions from last year, a 26% jump. Be warned: more and increased concessions are coming to SLC.

 

 

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.