New Apartment Deliveries Increase Demand for Property Management

New apartment deliveries are creating more demand for property management companies. Research from CBRE estimates that the top 66 metros in the US will deliver a total of 300,000 new apartment units this year. That is a 15% increase over 2018 deliveries. Multifamily investment will also increase this year, with an expectation of more than $150 billion in multifamily investment. Opportunity zone funds will also fuel additional investment this year as well. New deliveries will mean two things for property managers: more competition at existing assets under management and new demand from developers for property management representation...   ...more

RSK: The best thing will be more competition and pricing. There is a point where the amenities are not worth the rent increase for new properties.