In multifamily real estate, lease renewal isn't glamourous, but it is essential. It's kale and cardio rather than a blockbuster prescription weight-loss pill — and the stakes couldn't be higher. High interest rates over the past three years have kept potential homebuyers in the rental housing market. Builders continue adding inventory to meet demand, but eventually — most likely by the end of this year — rates will come down, leaving an oversuppl ...

What a difference a year makes. In the first half of 2022, rents were growing by 10% or more in over 75% of U.S. markets. The picture for 2023, by comparison, has looked decidedly different. Vacancies continue to rise as rents are dropping. The culprit? A glut of new units hitting the market.Unsurprisingly, many developers who bet big on multifamily are struggling with lease-up. Meanwhile, construction and operating costs are rising as borrowing ...

 Intuition has long been a key to success in the multifamily industry. Measuring the values of properties — both for purchasing units and figuring out the optimal rental price — requires a keen understanding of location, local economic opportunities, access to restaurants, transit, quality of local schools, and other factors that can be intangible and hard to quantify. Intuition is especially vital to estimating how long a given resident is ...