MHN’s March 2021 Must-Reads

Catch up on our most important stories, interviews and analyses for last month.

Last month, everyone’s attention was focused on the $1.9 trillion stimulus bill, hammered out over nearly two months and ultimately passed on March 11. The multifamily industry quickly reacted, with the National Apartment Association and the National Multifamily Housing Council releasing a joint statement lauding the plan. What’s more, the more than $46 billion in emergency aid approved by Congress last December is finally beginning to flow from some states and jurisdictions.

Uncertainty still lingers in the industry, with many unknowns about what the future holds. In a podcast episode, National Apartment Association’s Paula Munger talked about how the pandemic changed the industry and multifamily trends for 2021. Jason Weissman of Boston Realty Advisors explained what’s at stake for urban multifamily real estate as residents increasingly relocate to suburban areas.

As the unemployment rate remains relatively high, with millions of Americans still without a job and facing the prospect of being evicted, affordability is top of mind for industry players. The bulk of the country’s affordable housing property owners have reported missed rent due to the coronavirus pandemic, according to a Stewards of Affordable Housing for the Future for the NHP Foundation survey. A new research report from the Mortgage Bankers Association’s Research Institute for Housing America stressed that almost all of the 50 largest metro areas have become less affordable for renters and first-time homebuyers since 2001. In an interview, Salim Furth, senior research fellow at Mercatus Center at George Mason University, highlighted some easy-to-implement solutions to alleviate housing affordability issues. And JLL’s affordable housing team detailed the dynamics currently shaping this asset class, as well as its unsung upside.

Now more than ever, marketing plays a significantly important role in the multifamily industry, especially for harder-hit sectors. Thrive Senior Living’s Nicole Moberg discussed creative strategies senior housing operators can use to market their communities in these challenging times. To help multifamily investors understand how important choosing the right name for a property is, we compiled a list of five tips for successfully renaming apartment communities. And, because digital content is at the heart of many companies’ business strategy, we detailed four ways to select the right keywords for apartment marketing.

Here are MHN’s must-reads for last month:

March Rent Collections Hit 80 Percent: NMHC

The result indicates an upward trend for resident payments in early 2021.

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Freddie Mac Sees Improving Multifamily Sector for 2021

The Freddie Mac Multifamily 2021 Outlook projects rents to increase in most markets and originations to rebound.

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How to Keep Your Finger on the Pulse of Multifamily

Lela Cirjakovic, Waterton’s vice president of operations, reflects on the dynamics of the industry and offers solutions to property managers’ struggles in the latest episode of our Mission Success: Women in Multifamily podcast series.

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Developers Face Construction Delays, Materials Scarcity: NMHC

The latest survey reports a continued shortage of key products alongside price increases.

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PCCP Forms $1B SFR JV

The partnership has already closed on five single-family investments totaling more than $240 million.

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Wendy Drucker on How to Lease Apartments in 2021: Q&A

We honor Women’s History Month with tips from this 40-year multifamily veteran for getting properties leased amid an ever-changing landscape.

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RPM, CF Real Estate Services Merge

The combined firm will operate under the RPM brand and provide services to more than 84,000 apartments.

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Lifting the Amenities Lockdown: What Are Today’s Must-Haves?

Work from home is expected to be a lasting trend, and that is informing a number of choices around the amenities a building may offer.

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Investors Remain Keen on Manufactured Housing

Rising rents and heightened sales activity are strengthening confidence in the sector, a recent NorthMarq report indicates.

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Is New York City’s Condo Market Making a Comeback?

Rachel Medalie, broker at Douglas Elliman and principal at Bespoke Living, on her expectations for the metro and why investors are confident in 2021.

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