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December 3, 2014

The Macro View on Micro Units

For all the media attention on micro units, industry insiders remain divided over whether the pint-sized product is fab or just a fad. 
 
To get to some determination on the real value of micro units, ULI’s Multifamily Product Councils recently published new research on the trend that suggested an untapped segment of the renter market is truly willing to trade square footage for certain conveniences. However, the business model has some unique underpinnings. 
 
The research also showed that the smaller units outperformed conventional units, had higher occupancies and achieved significant rent premiums (bonus), although there was some question as to whether the limited supply of micro units could be an influencing factor. 
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BIBBY BLOG

Is the Apartment Industry Actually Meeting the Nation's Rental Housing Needs?

In his latest post, NMHC President Doug Bibby looks at the big question of declining rental affordability and outlines a three-part comprehensive solution for addressing the issue. The first in a two-part series. 

OPTECH

Discussion of Top Takeaways from 2014 NMHC OpTech Continues Online Tomorrow

The 2014 NMHC OpTech recently attracted another record crowd for two-plus days of in-depth discussion of new operations and technology trends, challenges and solutions. NMHC’s event recap and other summaries outline key points, but the conversation keeps going with NMHC’s Rick Haughey during a live Twitter chat tomorrow, Dec. 4, at 1pm Eastern. Follow along with the hashtag #NMHCOpTech.

DATA SECURITY

Cyber Attacks Are on the Rise

The consequences of unauthorized or illegal access to sensitive resident data can cause lasting harm to an apartment firm’s long-cultivated brand in an instant. Companies can better protect themselves by having a security and response plan in place. NMHC’s staff expert Jeanne Delgado offers seven steps for getting started in the right direction (on page 44).  

MARKETING AND LEASING

Why Online Apartment Pricing Is Broken

Property management software or pricing systems are in the driver’s seat when it comes to the user experience on most apartment firms’ websites. And it’s clumsy at best. Instead of neatly packaged, up-to-date unit pricing and availability info, there are pop ups, snarls of links and/or directions to call for that info. Meh. Why do we accept this?
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Large Multifamily Buildings: Bright, Shiny, New … and Affordable?

Apartments Grapple with Cyber Monday Package Problem (featuring NMHC’s Rick Haughey) 

Rising Development Costs Force LIHTC Allocators to Consider Caps in Their Housing Credit Programs

With Tax Reform Looming, NMHC Urges Members to Participate in New Like-Kind Exchange Survey 

Battle Lines Drawn in the Rent Versus Own Tug of War

Personal Information for Hundreds Exposed after Break In at Apartment Office

NMHC/NAA Weigh In with Supreme Court on Disparate Impact 

Calculated Risk: The Favorable Demographics for Renting

Rental Apartment Construction Is at a 17-Year High (paywall)

Concessions Offer Antidote to Slow Leasing Season

Google Works to Close the Digital Divide, Bringing Free Internet to Public Housing

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About Apartment Wire
A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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2015 NMHC Apartment Strategies Outlook Conference
January 20, 2015
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Multifamily Market Dashboard

More Older Adults Are Living in Apartments

Apartments have long been the go-to housing choice for young adults, with those between 20 and 29 years old continuing to have the highest share of apartment living. In 2013, 23 percent of all 25- to 29-year-olds lived in apartments while 22 percent of all 20- to 24-year-olds were apartment residents.

However, data analysis for the latest NMHC Market Trends revealed that apartments are capturing an increasing share of older adults. Seventeen percent of 30- to 34-year-olds, 14 percent of 35- to 39-year-olds and 10 percent of 40-to 44-year-olds are now living in apartments. These figures are all at or near record levels.

One caveat: Despite the rising share of 40- to 44-year-olds in apartments, there are actually fewer apartment residents in this age group now than back in 2001, as this age group is now filled with the smaller Gen X cohort.

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