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Trends in the Rental Housing Market: What is the Biggest Challenge Ahead?

Published August 8th, 2018

Churn Down, Occupancy Up.

Approximately 43 million people — more than one-third of U.S. households — live in rental housing. The condition of the rental housing market reveals several significant changes that owners and property managers need to know.

First, the influx of households into rentership is slowing for the first time in a decade. Although construction of new rental housing is still high, it is plateauing, which may have significant implications if the trend persists.

Second, the vacancy rate has increased slightly in the past year, reports the Joint Center for Housing Studies of Harvard University (JCHS). A leading indicator that the tight rental market may be starting to lose traction.

According to the Urban Land Institute’s Real Estate Consensus Forecast, apartment rental rate growth is expected to drop to 3% percent by 2018, and vacancy rates are expected to increase to 5.3%. That means multifamily units with the compelling extras that renters want will have the best absorption rates.

Which in-rental amenities do renters feel are worth paying a higher rent for? Of all the amenities that renters would be willing to pay higher rent for, High-Speed Internet was top 3 on the list. (Source: The 2017 American Renters Report.)  

So, how much is reasonable to increase rent? Most tenants will tolerate a rent increase of 1-5% every 1-3 years, while less than one-third feel a rent increase is ever reasonable.

At a time like this, it’s important for multifamily owners and property managers to pay close attention to in-rental amenities to stand out from other competing communities. Whether you have an Internet solution in place, or you are exploring better options, offering unique technology-based amenities to improve user experience – including high-speed internet and other wireless services for residents – can be the lynch pin to keep churn down and occupancy up.

Are you looking to attract and keep tenants? Contact us if you want to talk about WiFi and find out if it’s a good fit for your community.

The Connected Business

Published August 6th, 2018

Inspire WiFi presents this original Infographic on The Connected Business.  Using the Internet of Things (IOT) can give your business the edge it needs!

Of course connected devices need quick WiFi and that's where we come in.  Quick WiFi means quick connectivity!

Travelers & WiFi

Published May 17th, 2018

Inspire WiFi presents this original Infographic on Traveling and WiFi.  Travel decisions are being made around the ability to stay connected.  

Bottom Line - WiFi is now a necessity rather than a luxury.

The Evolution of Technology in Senior Living Communities

Published April 28th, 2018

Inspire WiFi presents this original Infographic on Tech and Seniors.  WiFi availability in senior living communities is a game changer for elderly quality of life!

5G - The Change of a Lifetime

Published February 28th, 2018

Inspire WiFi presents this original Infographic on 5G.  What is it?  What will it mean?  How does 400X faster sound?  Nice!!!

Hackers and Public WiFi

Published January 20th, 2018

Inspire WiFi presents this original Infographic on Hackers and Public WiFi.  Don't be an easy target and DIY!  Let Inspire WiFi set up your WiFi the right and safe way!

Ways To Reduce WiFi Lag

Published December 23rd, 2017

Inspire WiFi presents this original Infographic on reducing WiFi lag.  Improve your connectivity and your gaming speed and keep interferences at bay.

All You Need To Know About WiFi Calling

Published November 8th, 2017

Inspire WiFi presents this original Infographic on WiFi Calling.  WiFi calling, Facetime, Whatsapp, and more all save customers BIG $$$!

Boost Your WiFi Infographic

Published September 24th, 2017

Inspire WiFi presents this original Infographic on how to boost your WiFi.  Keep customers happy by boosting signal strengths and following these easy steps.

The Perks of Offering Free WiFi

Published August 30th, 2017

Inspire WiFi presents this original Infographic on the perks of free WiFi.  Offer this simple amenity to attract new clients and keep current customers happy.

It's simple - WiFi is good for business!