A recent Yardi Matrix research bulletin titled “Flood and Fire: The Multifamily Sector’s Response to Natural Disasters,” assesses the state of U.S. multifamily markets in areas hit hard by natural disasters in 2017 including hurricanes and wildfires. Hurricanes alone caused around $110 billion in total reported property damage. The bulletin also covers the impact of these events on the insurance market, and advises that property owners in the private insurance market should be ready for increasing rates and deductibles along with tightening policy terms and conditions. It’s Hurricane Season Again As cited in an April 2018 Multifamily Executive article, the U.S. was hit with 16 severe weather events in 2017. And now that this year’s hurricane season is underway, property owners and managers should ensure that their communities are as safe and sound as possible to prevent against future losses should a major storm hit. One key tip: install critical infrastructure above flood-prone areas. Recommended actions outlined in the article include relocating electrical panels, mechanical equipment, meters and shut-offs to higher ground. Sealing cracks in walls and foundations and installing sump pumps will go a long way to shoring up a property. Using materials that are designed to survive water exposure and resist mold for framing, wallboards, floorboards and ceilings is also a great plan. Mitigating Property Risk When it comes to safeguarding properties, being ready for extreme weather isn’t the only consideration for property owners. To protect against resident-caused damages, a required renters insurance program is a widely accepted industry best practice. For property owners without renters insurance at their communities, now is a great time to consider implementing a program to mitigate risk. A program that includes fast and easy signups for residents and automated compliance monitoring for property managers is ideal....

What’s the verdict on the U.S. multifamily market—healthy, ailing or somewhere in between? Data presented in a recent webinar led by Yardi Matrix indicates that the news is mostly good. “Despite a fair number of headwinds that include decelerating rent gains, growing supply, the advanced age of the economic cycle and the increase in interest rates, the multifamily market remains in a healthy state,” says a presentation delivered by Jeff Adler and Jack Kern, vice president and director of institutional research, respectively, for Yardi Matrix. Positive signs for the U.S. multifamily market include: The economy, which grew by 2.3% in 2017 and the first quarter of 2018, added more than 200,000 jobs so far in 2018 and spurred a high level of consumer confidence; Plateauing rental unit deliveries combined with steady economics that will increase rents by an estimated 2.9% in 2018; Rising wages and a tight job market that “pulls people off the sidelines”; Moderate inflation Potential crosswinds include: Demand—meaning jobs and population—which, while strong, is shifting to lower-cost cities, driving a gradual rise in homeownership; Increasing financing costs; Abundant multifamily capital, holding cap rates steady and compressing spreads; New supply deliveries that are still being absorbed in many markets. There’s lots more insight in the full webinar.  The recording, presentation and accompanying report are available...

Yardi Matrix has expanded its self storage coverage to 125 markets, up from 99. This total represents 26,535 properties, of which 1,398 are some form of new supply, and 1.4 billion square feet of space and encompasses 83% of the U.S. population. The addition of 26 markets produces the self sector’s most comprehensive market intelligence and competitive analysis source. Yardi Matrix also covers multifamily and office portfolios. “Matrix is now the largest data set for market intelligence and competitive analysis in the self storage sector. The recent expansion is the latest example of Yardi’s commitment to providing the industry’s leading tools for identifying and executing development, management and underwriting deals,” said Jeff Adler, vice president of Yardi Matrix. Yardi Matrix is a business development and asset management tool for investment professionals, equity investors, lenders, and property managers who underwrite and manage investments in commercial real estate. Its resources include true ownership, in-place debt, and rental and sales history data, along with a new supply pipeline that includes 1,398 tracked projects. Yardi Matrix covers multifamily, industrial and office property types in addition to self storage. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn...

It’s one of the industry’s most-anticipated conferences of the year. Yardi is proud to be a sponsor of the National Apartment Association’s annual Education Conference and Expo, taking place June 24-26 at the Mandalay Bay Resort and Convention Center in Las Vegas. NAA offers attendees to experience the latest innovation in the apartment industry, from best practices for business, to marketing strategy, to new on-site ideas. The takeaways are extensive and the opportunity to learn is limited only by the number of hours in the day. As you’re planning your conference schedule, here are a few sessions that should definitely land on the “don’t miss this list.” “Let’s Get Engaged! 7 Tips to Build Resident Relationships that Last” Technology Booth #2505, Friday, 6/26 1:00-2:00pm Esther Bonardi, Yardi Apartment All Star Esther Bonardi is an industry expert on digital apartment marketing, and retaining residents is one of her specialties. You won’t want to miss her insight on advertising, lead tracking, social media, online search, and much more. “Putting Research to Work: Understand Customers & Outperform the Market” Thursday, 6/25 11:30am – 12:30pm Jack Kern, Multi-Housing News Want to be able to read the minds of your renters? In this session, Multi-Housing News and Commercial Property Executive publisher Jack Kern will outline useful practices to help understand how and why renters make the choices they do, and explain how customer-centric property research can benefit your business. “Pricing to Win: Using Revenue Management to Sign More Leases” Friday, 6/26 9:00 AM – 10:00 AM Ian Mattingly, CPM, LumaCorp Inc. Tammy Atkins, CPM, Heritage Apartments Shannon Hayden, Epoch Management, Inc. Mark Haldi, Bridge Property Management This exceptional panel of apartment industry peers will focus on the magic of revenue management. If you have ever wondered about how this...