The COVID-19 pandemic has had a significant impact on the multifamily market, causing a shift in the real estate landscape and leading to changes in the rental and multifamily market. Despite initial predictions of people leaving their city apartments and condos, the rental and multifamily market is experiencing growth and is becoming a more attractive option for first-time homebuyers. With low single-family inventory and low-interest rates, the multifamily market is on the rise. In response to the pandemic, many people are putting off their home search and continuing to rent, leading to an increase in family building permits.
From Empty Shopping Centers to Multifamily Frontier: A Look at the Changing Real Estate Landscape
Investing in multifamily properties is a popular option, but not everyone has the desire or resources to buy or build an entire apartment complex. For those interested in investing in the multifamily market without managing a property, real estate syndication may be a good alternative. The COVID-19 pandemic has been a challenging time for property managers, with eviction moratoriums and a hot housing market, but those who have managed to keep their residents happy and safe during this time have adapted to the changing landscape.
Investing in Multifamily Properties: Exploring Your Options
Multifamily management is poised for technology disruption in the coming months and years, with advancements in technology improving the way properties are managed and maintained. The state of California is taking action to support the affordable housing industry, with $196 million in funding being awarded to multifamily housing projects in Los Angeles County. The state is also streamlining the application process for housing grants, making it easier for communities to access funding and build homes for those in need. Los Angeles Mayor Karen Bass has praised the state’s efforts, calling for urgency in addressing the need for affordable housing in the city, where over 40,000 people are currently homeless.