Yardi reports that since 2022, multifamily rent growth and occupancy in the United States have declined on something of a steady basis. There’s a link to the Yardi study in the article. But one needs to strongly consider that rent growth from 2021 – 2022 was in the stratospheric range…near 24%. I can’t imagine we’ll ever see anything like that again unless another pandemic is coupled with a gross shortage of apartments. More units are coming (record setting), which of course will negatively affect rents and occupancy. Additionally, concessions are back turning multifamily into a renter’s market. Owners, landlords, managers and operators beware!

 

 

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.

 

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