The biggest impact of uncertainty and upheaval of the last few months has been the drastic reduction in multifamily demand. Depending on the area or the product type, either average occupancy or average effective rent may have been adversely affected more than the other – but net absorption decline has been the rule everywhere.
J Turner Research predicts a rent collection of 84.28% by 6/10, an increase of about 5% over the previous month at the same time. Read more from J Turner Research as they share some of the results of their June rent estimate study on the ALN Apartment Data blog.
A closer look at how Texas rent collections have been impacted by COVID-19 and the response to it in May.
The dominant story of 2020 across all markets continues to be COVID-19 and the fallout from both the virus and the response to it. The impact is being felt across the economy, and multifamily real estate is no exception. April 2020 was the first full month in which a majority of the country was locked down and provides a first full look at what that may look like for the apartment industry.
Robert Durham and Jordan Brooks from ALN sat down with Mike Taravella and Will Coleman from Rand CRE back in April to discuss the COVID-19 impact on rent collections, how markets around the country were looking heading into the current economic situation and more.
Taking a closer look at April price class performance now that the first full month in which most of the nation was in some sort of lockdown in response to COVID-19 is in the books.
Taking a closer look at markets with high levels of lease-up units and recent Class A performance in those areas.
A closer look at how Texas rent collections have been impacted by COVID-19 and the response to it in April.
The topic on everyone’s mind in the multifamily industry and beyond is COVID-19 and the response to it. While some areas were affected earlier than others by shelter-in-place orders and the like, for the most part, a majority of Q1 2020 was carried out under relatively normal market conditions.
