The Rent Roll with Jay Parsons EP#4 David Auerbach | Fresh Data & REITs' Earnings Preview
Oct 10, 2024
Join David Auerbach, a REIT research analyst at Hoya Capital, as he dissects the current trends in the rental market. He shares insights on the robust Q3 2024 apartment performance, where both supply and demand are soaring. David also previews earnings for single-family and multifamily REITs, discussing the contrasting landscapes of the Sun Belt versus coastal markets. He touches on the impact of tenant satisfaction and the unique challenges facing homeowners and landlords in today’s fluctuating economic climate.
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Strong Apartment Demand and Retention
- Apartment demand in 2024 remains strong despite huge supply increases.
- Retention rates have unexpectedly risen, showing effective tenant retention efforts.
Prefer Net Effective Rents
- Consider using net effective rents instead of concessions to set clear renewal expectations.
- This approach simplifies pricing and reduces legal complexities around rent concessions.
Affordable Housing Delivery Trends
- Affordable housing completions will peak in 2025 then drop sharply.
- Sustained funding and planning for affordable housing is crucial to avoid crisis.