Multifamily 2021 Market Outlook with Robert Pinnegar

Multifamily 2021 Market Outlook with Robert Pinnegar

Learn More about Federal Rental Assistance, the Amenities Advantage in Attracting New Renters, and more.

Over a year ago, much was unknown about COVID-19, and many of those who were able departed the urban cores in favor of more space and less densely occupied areas. Some who remained opted to take on a roommate or downsize to absorb pandemic-related financial stress, whether from job loss, underemployment, or unexpected expenses.

However, we do not believe that downtown is out forever. Though a timeline is hard to pin down, certain renter groups will return because of the convenience of downtown living, including the access to restaurants, entertainment, and amenities that urban living offers. While we are currently seeing urban markets throughout the nation offer concessions to attract prospective residents, the types of amenities offered also have a role to play in retention. Communities are embracing tech, reimagining shared spaces to fit health and safety requirements, and placing an emphasis on outdoor and green spaces, to name just a few examples. These all add value to the resident experience and positively impact a community’s overall lifestyle.

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