Ms. Carol Nelson is a highly respected multifamily property management professional in Utah. So when Carol talks, you need to listen. Carol cites strong economies and vast recreational opportunities as two of the primary drawing cards in attracting people from beyond Utah and Colorado to the Wasatch Front and the Front Range. Denver and Salt Lake City have grown by 5% and 4%, respectively, since 2020. So not surprisingly, apartment construction in each city has exploded with Salt Lake City, in particular, realizing a record-setting level of deliveries in the 12 months ended SEPT-2023 of 7,600 units. RealPage projects that 12,000 more units will be delivered in Salt Lake City by the end of 3Q2024, shattering the old record. The article addresses recent policy changes in Colorado where the legislature, in addressing the housing shortage, has put limits on application fees, capped rent, and prolonged the eviction process. No such changes have occurred in Utah.

 

 

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.