CoStar Group’s Post

In the second quarter of 2024, 168,000 new apartments were rented out in the U.S., which is the highest amount rented since late 2021. Meanwhile, the percentage of vacant (empty) apartments stayed at 7.8%, meaning about 8 out of every 100 apartments were still available to rent. 📝Source: CoStar CRE #LandmarkUS ------------- #realestate #multifamily #realestateinvesting The information contained herein is provided without any warranty or representation as to its accuracy, correctness, or completeness, and its recipient acknowledges and agrees that recipient has knowledge and expertise in financial and business matters and that recipient understands that if it has any questions or concerns regarding the matters or information that it is evaluating, that it will seek out its own professional advice concerning same and recipient will rely solely on its own review and that of recipient’s professionals of the information, and not rely upon the provider of this information, or provider’s agents, employees, or contractors.

Property management companies constantly have to deal with requests from tenants and also increase their satisfaction when it comes to dealing with their issues and understanding their needs. To effectively do this property management companies can implement surveys and feedback mechanisms. They can create various forms with questions and send it seamlessly to all tenants at once and then use the answers and information shared in those forms to capture important insights and data that can be used to improve tenant experience and satisfaction. All this information can be stored in your central management system with constant access and ability to visualise and structure the information accordingly for each type of survey and issues that you want to identify. #propertymanagement #realestate #dataanalysis

CoStar data suggests that the commercial real estate market has not been immune to economic and financial challenges. Today's property market is generally marked by supply-demand imbalances, declining occupancy rates, and moderating rental growth rates. These conditions will likely place further pressures on property operational performance gains in 2024.

📊 In a new collaboration between CoStar Group Inc. and the Austin Business Journal, the 2024 list of commercial building owners in the Austin area has been released. This study categorizes ownership across commercial properties including office, industrial, and retail sectors, and provides intriguing insights into the dynamics of real estate ownership. 🔍 The list has been compiled meticulously, ranking owners by total square footage occupied, making it an invaluable resource for anyone hoping to understand the landscape of commercial real estate in Austin. Key stakeholders include a mix of REITs, investment groups, owner-developers, and owner-occupiers, such as major players like Tesla and Apple. 🏗️ Though the data accurately illustrates ownership of built structures, it's worth noting that acreage and planned ventures weren't considered. This could mean that new up-and-coming projects and large undeveloped land holdings remain under the radar. 👩💻 Insights have been garnished not only from partnership with CoStar Group but also from direct surveys with owners, company websites, ABJ reporting, and even public SEC disclosures. While this ensures a broad spectrum of data, some entries couldn’t be independently verified, adding a layer of caution when examining the list. 🔑🔮 Prediction: This expanding visibility into real estate ownership can fuel numerous business opportunities, collaborations, and investments. As neighborhoods in Travis, Williamson, Bastrop, Hays, Caldwell, and Burnet counties continue to develop, there’s likely to be a significant boom in property investments tailored to specific commercial needs. 🔹 Key Takeaways: - **Dominance of Tech Giants:** Companies like Tesla and Apple show substantial property ownership, pointing toward their ever-growing footprints in Austin. - **Diversified Ownership Models:** From REITs to owner-occupied realties, there’s no one-size-fits-all model, making the real estate landscape in Austin versatile and dynamic. - **Incomplete Data Alert:** With some data unverified, stakeholders should proceed with cautious optimism when leveraging this dataset. ✨ As we step into 2024, the findings from this list offer not just a snapshot but a trendline of how commercial real estate is evolving in Austin. Businesses, investors, and policymakers can leverage these insights to strategize for the future. For more detailed ownership information or to share additional data, reach out to progers@bizjournals.com. #RealEstate #AustinBusiness #CommercialBuildings #Investment #PropertyOwnership

Whenever somebody asks me, "What type of property do we focus on?" I always reply, "we're a customer-service focused company, not a property-focused company". Here is what I mean by that 👇 The focus on "Customer Service" is our topmost value. It applies to everything we do instead of being property-focused. In fact, we have expertise in all different types of properties. We've managed everything: - single-family homes - condominium developments - low-income housing projects - class A office & retail buildings So, we have decades of experience & technical expertise with multiple asset classes. But what sets us apart is our customer service & customer focus. How we interact with our clients, tenants, vendors, and even employees is the most essential aspect of what we do. Don't just take my words for it. Check our Google reviews & you'll see "Customer Service" is reflected in how our clients and tenants talk about us.

🌟 Exciting News: We're thrilled to introduce Kinsman Data Bureau (KDB)! 🌟 🏡 Calling all Zambian landlords and property managers! Whether you’ve dealt with challenging tenants or those who treat your property with care, KDB is here to support you. Our services provide essential data to help you select tenants who value your property as much as you do. 📝 We value your input! Please take our quick 5-minute tenant survey to help create a more reliable and transparent rental market. Your feedback is crucial in shaping our services and offers you access to exclusive reports to effectively screen tenants. 👉 Join the movement for a fair rental market: https://lnkd.in/dEX5GHrd Your participation doesn’t just help—it's vital! #KinsmanDataBureau #TenantSurvey #LandlordSupport #TransparentRenting

Unlock invaluable insights into your customers' needs and thoughts with our surveys tailored for landlords and property managers. Understanding your customers' present and future requirements is essential for staying ahead and addressing potential concerns early on. Happy customers aren't just key to improving your reputation, retention rates, and revenue—they're the cornerstone of real estate success. At RealService, our research isn't outsourced. Our multi-lingual, in-house consultants undergo rigorous training and are dedicated to your project's success. Check out our impactful case studies with The Crown Estate, Get Living, and GPE. https://lnkd.in/eTpK9EDN With tools like the Net Promoter Score and RealService Index, we'll benchmark your results against peers and across industries. Elevate your occupier experience and drive growth today! #RealService #CustomerInsights #RealEstateSuccess #SurveySolutions

With extensive experience in the commercial real estate industry, I’ve seen the critical role positive landlord-tenant relationships play in property success. These relationships are the cornerstone of a thriving commercial property, benefiting both parties. By prioritizing open communication, trust, and proactive management, landlords can create an environment that encourages long-term tenancy, reduces vacancy rates, and ensures financial stability. Building strong landlord-tenant relationships is crucial for long-term success in commercial real estate. Effective communication, trust, and proactive property management are essential. Leveraging technology and seeking feedback can improve tenant satisfaction and retention. Success begins with a clear, comprehensive lease agreement that outlines all tenancy terms, including rent, security deposits, and maintenance responsibilities. This clarity minimizes misunderstandings and disputes. Thorough tenant screening is also vital; reviewing applications, verifying references, and conducting background checks help identify responsible tenants. Once the right tenant is found, provide a detailed move-in checklist and orientation. This includes a property walkthrough, explanation of amenities, review of lease terms, and instructions for maintenance requests and rent payment. Starting the tenancy on the right foot establishes a positive relationship. Trust and respect are the foundation of any successful landlord-tenant relationship. Transparency in policies and expectations is key; tenants should understand and see consistent enforcement of rules. Respecting tenant privacy by providing adequate notice for property entry and being responsive to their concerns is crucial. These actions show tenants that they are valued and respected. Consistency in these behaviors earns trust over time, creating a solid foundation for a successful, long-lasting relationship. For more insights, explore this post at https://lnkd.in/gqc8wSq3 #LandlordTenantRelationships, #TenantPrivacy, #LongTermSuccess, #TenantTrust, #PropertyManagementTips, #RealEstateAdvice,#LeaseAgreement, #ToljCommercial

Check out Forbes' latest feature on how full-service landlord brokerage firms manipulate the market by measuring traditional “vacancy rates,” creating distortions in the market, causing tenants to think that the market is better than it really is. David Marino, my business partner and co-founder of Hughes Marino, provides an in-depth analysis of the issue and how it affects commercial real estate tenants. Don't miss out on this insightful read! #OfficeMarket #VacancyRates #TenantRepresentation

Landlords Ghosting You for Occupancy Cost Data? Here's Your Fix! Are you pulling your hair out trying to get past-through data from your landlord for occupancy cost audits? You're not alone. Miscommunication between tenants and landlords is a pain point for many multi-unit operators. But fear not! We've got a guide packed with strategies to: - Supercharge responsiveness: Learn how to turn your landlord from unresponsive to reliable with these communication tactics. - Lock in favorable lease language: Discover clauses that guarantee you get the data you need, every time. - Become a tenant they LOVE: Insider tips to elevate your tenant reputation and ensure smooth sailing when it comes to data requests. Stop the heartburn and start streamlining your audits! Download the FREE guide now: https://hubs.ly/Q02jVFl60 #occupancycosts #tenants #landlords #propertymanagement #multiunit #leasing #audit #communication #PropertyWorks