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December 21, 2017
Package Problems Pile Up
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With the Christmas holiday just days away, package deliveries are peaking. Package carriers expect holiday loads to be up as much as 5 or 10 percent this year, as more wish lists are fulfilled online.

While online shopping is the ultimate modern-day convenience, it comes with a few drawbacks. Packages get stolen, boxes pile up in the rain and many residential buildings are running out of room for the never-ending barrage of deliveries.

"This is one of the biggest puzzles in the apartment industry," said Rick Haughey, NMHC’s vice president of industry technology initiatives. "How do you manage hundreds of packages every day?"

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Top News

TAX

Apartment Firms Dodge Tax Bullet

It was a mark in the “W” column for apartment firms yesterday as Congress passed the Tax Cuts and Jobs Act. The tax overhaul provides for numerous tax changes, including tax cuts for individuals, pass-through entities and REIT entities, among other provisions. Apartment firms also could benefit now that the deduction for mortgage interest is blunted by a higher standard deduction.

DEMAND

Is the Rental Housing Explosion Over?

For the first time since 2005, growth in new rental housing slowed down. But a closer look at the market’s underpinnings shows that, even though the expansion of the renter class may be slowing, the changes in rental housing—and in the people who choose to rent—are here for good.

TRANSACTIONS

Brookfield Inks $200 Million Deal with Airbnb

Brookfield plans to invest as much as $200 million in a joint venture with Niido, Airbnb’s multifamily development partner.  The goal is to buy and develop as many as six apartment communities in Florida, allowing residents to rent out their units for almost half the year—and share profits with the owners. More coverage available here

TECHNOLOGY

Pay Your Rent with Bitcoin. Here's How It Works

CNBC's Diana Olick reports on a new offering being launched by ManageGo in January that will provide property owners/managers and residents a way to pay and receive rent in bitcoin. For real.

FINANCE

Agency Lenders Still Rule the Multifamily Loan Market

Despite growing competition from banks, Fannie Mae and Freddie Mac continue to dominate the multifamily lending market, controlling 37 percent of the multifamily mortgage market. They offer relatively high levels of leverage, low interest rates and certainty of execution to a broad range of borrowers.

OPERATIONS

Real Estate Heavyweights Back New PropTech Venture Capital Fund

A series of big real estate firms have invested in a new $60 million PropTech venture capital fund, according to TechCrunch. The fund is one of the largest specific PropTech funds raised so far and highlights the growing interest in the sector. 

RESEARCH

Cool and Connected Top Renters' Amenities Lists

The WaPo slices and dices NMHC/Kingsley Renter Preferences data to suss out not only the top picks but also the biggest dealbreakers for renters in the National Capital Region. 

In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
NMHC’s Legislative Watch 2018

Multifamily Market Growth Strongest in Suburban Submarkets

Facebook Marketplace Gets into Real Estate

Related Partners with Hello Alfred to Provide Concierge Services (paywall)

Corporate Social Responsibility Grows in Multifamily

Solid Demand for Student Housing Should Continue for Years to Come 

Pipeline Thins Out in Major Apartment Markets

What Happened to the American Boomtown?

Class-Action Suit Against Apartment Giant Gets Go-Ahead

Developers Creating Carefully Tailored Amenities
Multifamily Market Dashboard

Shifts in Rental Demand Ahead

According to the Harvard University’s Joint Center for Housing Studies’ (JCHS) recently released America’s Rental Housing 2017 report, early signs point to slower growth in rental demand—although the degree of the anticipated deceleration is still TBD. Regardless, the JCHS still estimates that underlying demographics will support the addition of millions more renters between 2015 and 2025, accounting for an expected third of all household growth.

While younger, lower income and minority households are still the most likely to rent, notable growth among high-income and older renters is likely to reshape demand going forward. For example, 50+ households accounted for half of the recent surge in renters. And that trend is likely to continue into the next decade.

The report, along with interactive map and a replay of the report webcast, is available here.


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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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