Apartment Insiders’ Post

Manhattan's rental market experienced its first annual decline in November since mid-2021, indicating a shift beyond usual seasonal trends. Jonathan Miller, president of Miller Samuel, noted a softer market compared to the previous years' frenzy. Rents dropped by 9.1% from the record high in July and August, yet remained 11% above pre-pandemic levels. This decrease aligns with the rise in Manhattan's vacancy rate, now at 2.93%, partly due to landlords moving properties from Airbnb to long-term rentals following new city regulations. Although small rent declines are expected in the coming months, a major correction seems unlikely, with moderate increases anticipated in spring and summer. Meanwhile, luxury rentals in Manhattan set a record high in price per square foot, while northwest Queens saw its first year-over-year rent decrease in 11 months, and Brooklyn's rents also declined from their July peak. #ManhattanRentals #RentalMarketTrends #HousingMarket #NYCRealEstate #MarketShift #VacancyRates #LuxuryRentals #BrooklynRentals #QueensRentals #UrbanHousingDynamics

Rental market predictions 2024: Why are downtown Nashville rents dropping heading into 2024? Contact me to discuss the latest scoop in real estate! #Gallatin #realestate #realestateagent #homesearch #realestateinvesting #housingmarket #tennesseehomes #tennesseelisting #tennesseerealtor

Why NYC Apartment Buildings Are on Sale Now for 50% Off-Bloomberg Tougher rent control, returning worldwide, destroys $75 billion in property value. Cash-strapped tenants cheer as they maintain a foothold in the cit Even in the crisp afternoon sunlight, the two-bedroom Manhattan apartment has a ghostly pallor, its cracked walls yellowing like an ancient black-and-white photograph. Paint chips are falling from the ceiling. A dead pigeon lies on the kitchen floor. Its landlord, Douglas Peterson, is making a stop on a dispiriting tour of a 21-unit building he bought in 2018 for $4.8 million. Peterson’s City Skyline Realty Inc. specializes in a subgenre of real estateinvestment: properties subject to the New York City rent-regulation system, the oldest and biggest program in America. For this well-situated apartment on West 164th Street in Washington Heights, the quickly gentrifying Dominican enclave immortalized in a Lin-Manuel Miranda musical, he can charge no more than $650 a month, perhaps a quarter of the market rate.

As a landlord, property owner or manager, what do you do to get your properties "Rent Ready?" Kristina Rivers (Multifamily Specialist) walks us through a Nashville duplex located in Hermitage, Tennessee. Anyone who is thinking about buying Multifamily properties needs to know what is involved in the process of turning over units. After all, every day a unit sits vacant is money out of your pocket. So, we recommend that owners quickly check and repair the following items every time they have a vacant unit. • Condition of Walls & Paint • Condition of Carpets and flooring • Working Appliances • Safety and Security Items - e.g., Locks, windows, exterior lighting, and blinds • Curb Appeal • Any small conveniences that add value to tenants. • Final Clean • Update your Lease. Make sure that you've checked these items each and every time you have a vacant unit. Doing so will save you the headache and hassle of doing bigger renovations in the future. Not to mention, deferred maintenance can greatly impact your sale price if/when you decide to sell. With so many new people moving to Nashville and the surrounding counties every year, the rental market is steady and strong. Keeping your units rent-ready means you make your apartments more appealing to people who need a place to live. Learn more about How to prep your apartment for Sale by visiting our website. www.RIA-INC.com/quick-tips

Nashville rent prices see second largest drop in the US Contact me to discuss the latest scoop in real estate! #tennessee #tennesseehomes #tennesseehousing #tennesseelisting #tennesseerealestate #tennesseerealtor #tennesseerentals #tennesseehouse #realestate #realtor

New Yorkers are knowledgeable about the real estate market, especially the differences between condo and co-op living. Understanding these distinctions is crucial before beginning a home search in NYC. Co-ops have strict vetting processes but offer increased financial security for the building, showcasing the unique real estate landscape in the city. Despite being viewed as elitist, co-op boards play a significant role in maintaining property values. Buyers exploring co-ops and condos with a knowledgeable agent have a wider selection to choose from. #NYCRealEstate #CoopVsCondo

🏙️ Wondering what caused the shift in power dynamics in Dallas-Fort Worth's apartment market in 2023? 📉How are property owners adapting to the surge in new developments, impacting rental rates and occupancy? Dive into the article for insights and projections into 2024! 🏠💼 #DFWRealEstate #MarketShifts #2023Review https://lnkd.in/gB2_qFxg

It’s been a busy Q3 with just a couple weeks left to mark its close! The summer rental market was roaring and couldn’t be happier to have helped so many wonderful clients find apartments. Check out some of my recently rented apartments! JUST RENTED: 330 East 35th St, Last asking $3,300 211 East 33rd St, Last Asking $5300 50 Avenue B, Last Asking $4,200 224 Avenue B, Last Asking $4,100 35 Henry St., Last Asking $4,000 75 Baxter St., Last Asking $3950 1709 2nd Ave,Last Asking $3900 618 Marlborough Rd, Last Ask $2,500 419 East 82nd St. Last Asking $2,200 Buying, selling, or renting a home can be completely life-changing, which is why I go above and beyond for my clients in every aspect of the #realestate process to ensure that the decision is easy and stress is minimized 🙌🏿 #manhattanrealestate

🏘️📉 Following the national trend, Cincinnati's apartment market has seen a correction in market fundamentals post the 2021-2022 surge in occupancy and rents. Yet, in a noteworthy twist, the Cincinnati market has been outperforming U.S. averages in both occupancy and rent growth. 📈🌆 #RealEstateTrends #Cincinnati #MarketAnalysis

The latest insights from Rentometer.com reveal that the average rent for three-bedroom single-family rentals (SFRs) in Knoxville hit $2,235 in Q3 2023, marking a 3% increase from last year. In contrast, a 3-BR apartment averaged $1,799 during the same period. Notably, Knoxville leads the five largest Tennessee cities with the largest year-over-year rent increase for single-family units! The trend highlights Knoxville's growing appeal and rising housing costs, especially when compared to other cities. For instance, renting a single-family home in Nashville used to be 23% more expensive than in Knoxville in Q2 2022; now, that gap has narrowed to 17%. Meanwhile, Chattanooga's rental prices are now 12% cheaper than Knoxville's, a notable increase from 7% last year. #KnoxvilleRentals #HousingMarket #RealEstateTrends #KnoxvilleLiving #RentIncrease