This decade is on track to have the strongest renter growth in U.S. history, according to the Joint Center for Housing Studies at Harvard University. As apartment occupancy rates hover at historic highs, the Freddie Mac Multifamily Outlook report projects that new supply will enter the market in 2016 at rates not seen since the 1980s.
With an influx of new capacity coming online, occupancy rates will likely be pressured, and in turn, heighten the value for dynamic pricing strategy. In the midst of a shifting marketplace, real estate professionals will have an increasing need for a clear, more real-time view of the competitive landscape at the local market level.
RentPath, the largest digital marketplace for multifamily rental properties, has conducted numerous focus groups to help crystalize what types of data, cadence, and granularity are most critical in helping customers stay ahead of the competition. From the property manager to the c-suite level, it became abundantly clear that regular access to important business intelligence details, such as floor plans, average rental rates, and occupancy levels, are the key metrics needed to gain a competitive edge.
To meet this need, RentPath recently teamed up with Axiometrics – a leading real estate market research and analytics company that specializes in multifamily rental intelligence – to create Insight Reports, concise and informative reports with actionable insights based upon RentPath’s deep understanding of customer needs and derived from the highest quality apartment data at the local market and submarket level.
These one-of-a-kind reports cut through the clutter to provide local, regional and national operators and owners the concise, local-market specific information needed to make decisions that will yield the strongest results. Designed exclusively for the multifamily rental industry, the report provides real estate professionals with market and community data at the floor-plan level and compares the performance of communities against that of comparable properties. Insight Reports are complimentary to RentPath customers and help to provide the competitive advantage needed to maximize revenue and better assess the value of existing assets and potential new acquisitions.
To learn more about how you can maximize your business returns in the growing rental multifamily market, click here.