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References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
The Basics
Taking Advantage of Multifamily Real Estate (Forbes, Feb. 24, 2023)
“Determining whether multifamily real estate investing is right for you requires careful consideration and self-reflection. To determine if multifamily is right for you, consider your investment strategy, experience with real estate and property management, financial situation and the local market conditions.”
U.S. Real Estate Market Outlook 2023 – Multifamily (CBRE, Dec. 13, 2022)
In the newest report from CBRE, is predicted to perform above average in 2023. Occupancy rates are expected to stay above 95% - as home prices and mortgage rates show no signs of decreasing, buyers may continue renting, or consider condos instead of single-family homes.
What is a Multi-Family Home? (Bankrate, Jun. 3, 2022)
“A multi-family home is a single building that’s divided to accommodate more than one family living separately. They can range from a duplex, which has two dwellings within a single building, to homes or small apartment buildings with up to four individual units. (Buildings with more than four units are typically considered commercial properties.)”
Multifamily Trends
Influencers in Multifamily (Globe St., Oct. 9, 2023)
Read the stories of teams, companies, and individuals who have excelled in the multifamily market in the past year. These tales demonstrate problem-solving and success stories in a historically challenging market.
The Apartment Market is Hitting a Construction Lull (realtor.com®, Oct. 2, 2023)
“Apartment building starts fell to a seasonally adjusted annual rate of 334,000 units in August, marking a 41% decline from the pace seen the same month a year prior, according to the Census Bureau. An annual decline of this magnitude has happened only one other time since the subprime housing crisis, real-estate data firm Bright MLS said.”
A Real-Estate Haven Turns Perilous with Roughly $1 Trillion Coming Due (The Wall Street Journal, Aug. 7, 2023)
“Investors bid up the prices of multifamily buildings for years, attracted by steadily rising rents and the prospect of outsize returns. Many took on too much debt, expecting they could raise rents fast enough to pay it down. Unlike office buildings and malls, which have been hit hard by remote work and e-commerce, rental apartments have low vacancy rates. The apartment sector’s main problem isn’t a lack of demand—rents have soared since 2020—it is interest rates.”
Investing in Multifamily Property
Is Multifamily a Safe Haven Amid Rising Interest Rates? (Commercial Observer, Oct. 17, 2023)
“In a rising interest rate environment, investors often seek assets that provide stable income streams to offset the potential decline in the value of their bonds and other investments. Multifamily housing, such as apartment buildings and complexes, offers exactly that. Rental income remains consistent and often increases over time, making it an attractive choice for investors looking for a secure source of cash flow.”
The Benefits and Risks of Investing in Multifamily Properties (Forbes, Sep. 29, 2023)
“As with any type of investing, investing in multifamily real estate carries risks you should consider. A few of these risks include market fluctuations that impact rental income and property values; complex property management tasks; potential financing challenges; compliance with housing regulations; tenant-related issues; and market oversaturation. You'll also need to consider ongoing maintenance costs and the need for adequate insurance and liability protection.”
What to Consider Before Multifamily Investing (Bungalow, Feb. 1, 2022)
Like every investment, multifamily properties have pros and cons. An obvious pro of investing in a multifamily building is the possibility for rental income, but with renters come extra responsibilities. Multifamily is not quite on the same scale as commercial investing, so it’s a nice middle ground, thought the up-front cost is certainly higher than a single unit.
Property Management
Property Management is Evolving Rapidly, Here are the Trends for 2024 (Buffalo Business First, Oct. 1, 2023)
“Advances in technology, changing demographics, environmental issues, and the need for greater cost-efficiency are constants in our work to manage commercial real estate. In this article, we'll look at emerging property management trends that are likely to shape commercial real estate and the property management industry in 2024.”
How AI is Revolutionizing Property Management: Opportunities and Challenges (Property Manager Insider, Jun. 13, 2023)
“The property management industry is a complex and multi-faceted field that involves managing numerous tasks, from lease agreements and rent collection to maintenance and tenant screening. In recent years, artificial intelligence (AI) has emerged as a powerful tool that is transforming the way property managers operate. AI-powered property management tools are enabling managers to automate routine tasks, streamline operations, and enhance tenant experience.”
What is a Property Manager? (The Balance, Nov. 30, 2022)
“Property managers are hired to handle the operations, maintenance, and administration of property rentals for an owner. Their work, among many other tasks, includes marketing rentals and finding renters, ensuring rental rates are competitive while covering taxes and overhead, collecting rent, and complying with rental laws.”
Useful Websites
Appfolio (Property Manager) — Sells property management software, and shares perspectives and best practices to help manage your property management business
Marketing and Leasing: Multifamily Properties (NAR.realtor) — NAR’s education matrix
Multi-Housing News — Provides current news and statistics about the multi-housing industry
National Apartment Association — A trade association for the apartment housing industry
National Association of Residential Property Managers® — A trade association for residential property managers
National Multi Housing Council — Provides a forum for insight, advocacy and action for members and the community
Multifamily Biz — Provides current news about sales, construction and the multifamily industry
Books, eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
The Complete Guide to Buying and Selling Apartment Buildings (eBook)
Complete Landlord and Property Managers Legal Survival Kit (eBook)
Multifamily Housing (eBook)
The Multifamily Millionaire Volume II (eBook)
Opportunities in Property Management Careers (eBook)
Rich Dad's Advisors®: The ABC's of Property Management (eBook)
Streetwise Landlording & Property Management (Audiobook, eBook)
What Every Landlord Needs to Know: Time and Money-Saving Solutions to Your Most Annoying Problems (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
Field Guide for Practical Apartment Management (Chicago, IL: Institute of Real Estate Management, 2015) HD1394 .F48 2015
The CompleteLandlord.com Ultimate Real Estate Investing Handbook (Hoboken, NJ: Wiley, 2009) HD 1382.5 L49
Buy It, Rent It, Profit! : Make Money as a Landlord in Any Real Estate Market (New York, NY: Simon & Schuster, 2009) HD 1394 C39
The Complete Guide to Buying and Selling Apartment Buildings (New York, NY: John Wiley & Sons, 2005) HD 1377 B46
Practical Apartment Management (Chicago, IL: Institute of Real Estate Management, 2005) HD 1394 In7pr Ed. 5
The New No-Nonsense Landlord: Building Wealth with Rental Properties (New York, NY: McGraw-Hill, 2003) HD 1394 J76
Have an idea for a real estate topic? Send us your suggestions.
The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.