A hot multifamily market has greatly influenced rental rates and concessions for tenants. In Part 2, of GlobeSt.com’s exclusive interview with Laura Khouri, president of Western National Property Management, Khouri explains how these factors have affected each other and how her firm stays competitive.
GlobeSt.com: Multifamily has been a hot product type for investors over the past 12 to 24 months. How has this activity affected property management?
Laura Khouri: The increased investor activity over the past year has had a major impact on the way in which rents are established and concessions are applied. The key is that multifamily property owners who want their communities to be considered for sale are focused on being able to demonstrate the greatest possible return for potential buyers.
Read more...Rents Up, Concessions Down in MF - Daily News Article - GlobeSt.com
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