If you have trouble reading this email, please go to the online version.
March 29, 2017
Meet the Future of Property Management
Sponsored by

Nine million more households have become renters over the last 10 years—the largest gain in housing history. Investors have noticed these rental trends, and billions of dollars have been invested in the rental property market.

This growth has resulted in strong demand for property management services, and the property management industry has grown to $73 billion a year. However, property management continues to be fraught with inefficiencies and the industry has generally lagged behind the times in terms of technology.

But there is a wave of innovation that is making property management much easier. There is also an increasing amount of capital that is being invested in these technology-led property management solutions. 

Read more

SHARE: Twitter Facebook LinkedIn Email
Top News

ADVOCACY

Tax Reform Again the Topic of Hill Talks

Building on almost two dozen tax reform-focused meetings earlier in March, NMHC members and staffers continued their aggressive outreach to top members of Congress this week, hitting the offices of Senator Ben Cardin (D-Md.), Senator Chris Van Hollen (D-Md.) and Minority Whip Steny Hoyer (D-Md.). 

MEETINGS

Google to Host Emerging Leaders NYC Networking Event (May 16)

The NMHC Emerging Leaders Speaker Series moves to Google’s office in New York City this May 16 at 7pm. The series features senior executives sharing their experiences and wisdom in a smaller reception setting. The event is open to any under-40 employee of NMHC member firms, but space is limited.

REGULATION

Prevailing Wage Debate Flares in California

At issue with Assembly Bill 199 is that the proposed legislation muddies the current law’s definition of what single- and multifamily projects would be required to pay union-backed prevailing wages to construction workers. An expansion of the requirement would spell higher housing costs. 

FINANCE

Fannie, Freddie Revamp Unlikely This Year, Dividends in Focus

An overhaul of Fannie Mae and Freddie Mac is highly unlikely to make it into this year's legislative calendar, Congressional staffers say, possibly shifting the new administration's immediate focus to allowing the mortgage financing institutions to rebuild depleted capital.

MARKET

Renters Now Rule Half of U.S. Cities

Declining homeownership, the foreclosure crisis, the rise of millennials and growing minority and immigrant populations have all fed the rise of the renter pool. Fifty-two of the 100 largest U.S. cities were majority renter in 2015, according to Census data.

LAND USE

America's Great Three-Way Housing Supply Race

Don’t blame developers, landlords, Airbnb hosts, techies, hipsters, second-home buyers or immigrants for today’s urban housing affordability crisis. A look at production stats from Houston, Dallas and New York City show there’s a solution far simpler than many pundits suspect: Build more. 

LIHTC

Tax Overhaul Threatens Affordable-Housing Deals

Expectations for a lower corporate tax rate push down the value of tax credits used in affordable housing project funding. About 100,000 of the roughly 400,000 apartment units built each year receive the tax credit, according to NMHC. (paywall)

ECONOMY

Hot U.S. Real Estate Is a Potential Red Flag

Eric Rosengren, president of the Boston Fed and an influential financial regulator at the U.S. central bank, said the "sharp" rise in apartment prices in particular may signal financial instabilities that interest rates, which are only gradually rising, may not be able to contain.

In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.

Bid-Ask Gap Grows in the Apartment Sector

Student Housing Developers Struggle to Provide the Right Amenities in Tight Spaces

The New Baby Boomer Boom

Two Generations, One Housing Preference

Which Amenities Raise Rents Most?

Military Housing Operators Face Paradox

The Case for Why Airbnb Doesn't Make Sense for Owner-Operators

New Apartment Supply in Philly Called into Question

How Apartment Residents Are Creating Their Own Smart Home for Less Than $1,000 

Here’s How Trump Is Using a Special Law to Do Away With Obama Regulations

Santa Rosa Rent-Control Opponents Raise $390K to Fight Ballot Measure

Detroit’s Resurgence Brings New Housing Concerns (paywall) 

In the Midwest, Immigrants Are Stemming Population Decline (paywall) 

House Passes Bill to Ban Discrimination by Landlords Against Voucher Holders

Multifamily Market Dashboard

The U.S. Apartment Boom, Measured in Construction Cranes

A new release of a biannual survey of crane activity offers a different measure of new apartment residential construction. According to the Crane Index, a number of the nation’s top metro markets have seen more high-density residential construction in recent years. In all, 33% of all cranes in the cities observed were dedicated to residential projects.

Of 12 major U.S. metro areas, Chicago has the most cranes working on residential construction projects. However, local sources note that construction in the most active cities differs from past building booms. Not only is there more residential construction activity, in general, but cities such as Chicago are bulking up their luxury rental stock versus condos.
 


For more data dives like this, join us April 5-6 at the Hilton Dallas/Plano Granite Park in Plano, Texas, for the 2017 NMHC Research Forum.

Upcoming Meetings
2017 NMHC Research Forum
April 5-6, 2017 at the Hilton Dallas/Plano Granite Park in Plano, TX

2017 NMHC Spring Board of Directors Meeting
May 16-18, 2017 at the Conrad New York, NY
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.
Tools
Print-Friendly Version RSS Search Back Issues
Contact Us
1775 Eye Street, N.W., Suite 1100,
Washington, D.C. 20006
202 974 2300 Office
news@nmhc.org
Connect
Facebook
Twitter
LinkedIn
Manage My Email / Unsubscribe
Please add ‘news@nmhc.org’ to your email address book or Safe Sender List. If you are still having problems receiving our communications, see our White List page for more details.