While the February-to-March gain seems nominal (up $8.00 to $1,721…a .47% gain), it is the first gain in 20 months and signals a return to traditional rent increases which usually occur in the spring. Not since the pandemic has a seasonal gain occurred. And year-over-year rent growth is also occurring which may be another sign the overall multifamily market is returning to some level of normalcy.

 

 

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.