Brad Cribbins has had a great couple of years.
As chief operating officer at the management division of Phoenix-based Alliance Residential, Cribbins has helped push rent increases at a nice clip across the firm’s 50,000 units and 24 markets since 2010.
“On average, we’re up in the high double digits since 2010,” Cribbins says. And he doesn’t plan to take his foot off the gas in 2013, either.
With markets such as San Francisco projecting rent growth of 8 percent to 10 percent this year, and Denver, Dallas, and Seattle slated for bumps of 4 percent to 5 percent—even though that growth rate has slowed from last year—his outlook continues to be optimistic.
“Supply is building, and we continue to watch deliveries, but net absorption in key markets with select demographics will remain strong,” Cribbins says. “We expect a good year.”
Read more...Leasing Season Preview: Rent Growth Decelerates - Rents - Multifamily Executive Magazine
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