Author: Rent Magazine Team
On March 22, 2023, a report from Apartment List highlighted a significant trend: rising rental demand in urban areas has led to higher prices and more competition for available units. This surge in demand is being felt across major cities, with renters, landlords, property managers, and developers all responding to the growing need for rental properties in urban centers. A key driver of this shift is the post-pandemic return of workers to urban areas, fueling increased demand for rental units, particularly in neighborhoods close to business districts. As the economy continues to recover, many workers are choosing to live near…
As the rental housing industry continues to embrace digital platforms for lease management, payment processing, and maintenance requests, cybersecurity concerns are becoming increasingly important. On February 14, 2023, the National PropTech Association (NPA), a leading trade organization representing property technology companies, introduced a set of updated cybersecurity guidelines to help safeguard tenant and landlord data across PropTech platforms. These new guidelines are intended to protect against the growing risk of cyberattacks, which have become more prevalent as PropTech adoption accelerates. With data breaches becoming a regular occurrence, the NPA’s new standards aim to establish a framework for secure data handling…
The inaugural Real Estate Diversity Summit, held on March 19, 2023, in Atlanta, Georgia, marked a significant milestone in the industry’s push for greater inclusion and representation. Bringing together a diverse group of real estate professionals, advocates, and thought leaders, the summit’s core objective was to discuss how the real estate sector can better reflect the communities it serves, particularly in leadership roles. A New Era of Inclusion This historic event focused on fostering diversity within real estate leadership. The summit was not only a gathering of industry giants but also a platform for marginalized voices that have long been…
In March 2023, the housing market saw a notable shift toward sustainable and energy-efficient homes. As environmental concerns and the desire for long-term cost savings grew, more buyers began prioritizing green homes in their searches. These homes, built using environmentally friendly materials and incorporating energy-efficient features like solar panels and advanced insulation, gained significant traction across various segments of the market. Both luxury and mid-range buyers increasingly sought out properties that offered sustainable living solutions. The Rising Demand for Green Homes The demand for green homes surged in 2023, marking a significant trend in the housing market. More buyers were…
March 2023 marked a significant turning point in the affordable housing crisis in the United States. Across the country, rising rental prices and an inadequate housing supply left millions of Americans struggling to secure affordable homes. The issue gained considerable media attention and sparked widespread protests, as tenants and advocacy groups called for immediate action. With rent hikes continuing to outpace wages, this month highlighted the growing divide in renters’ needs, as affordable housing became more out of reach for low- and middle-income households. The Surge in Rent Prices and the Impact on Renters In March 2023, the rental market…
On March 15, 2023, smart home technology witnessed a significant uptick in demand, as more homebuyers sought properties equipped with advanced devices that offer enhanced convenience, security, and energy efficiency. This trend is being driven by a combination of technology companies, homebuyers, developers, and real estate agents, all of whom are playing a pivotal role in integrating smart home features into residential properties. One of the defining moments in this shift has been the growing adoption of smart thermostats, voice-controlled lighting, and advanced security systems as standard features in newly built homes. With rising energy costs and increasing concerns about…
Virtual reality (VR) is increasingly becoming a significant tool in enhancing the tenant experience, especially when it comes to the move-in process. On February 7, 2023, TenantCloud, a popular cloud-based property management platform, unveiled a groundbreaking feature that allows renters to complete their entire move-in process virtually using VR headsets or through an app. The new tool is designed to streamline the move-in experience, allowing tenants to explore their new homes remotely before physically stepping foot inside. TenantCloud VR Move-In Feature The TenantCloud VR Move-In feature employs immersive virtual reality technology and 360-degree photography to provide tenants with a fully…
In a spectacular real estate deal, a luxurious mansion in Beverly Hills recently sold for an unprecedented $50 million, setting a new benchmark for residential property sales in the area. This historic transaction not only made headlines for its record-breaking price but also for the high-stakes drama behind the scenes, where a fierce bidding war unfolded between two powerful players: a well-known Hollywood actor and a billionaire entrepreneur. The mansion, perched in one of Beverly Hills’ most coveted neighborhoods, boasts a sprawling estate that includes state-of-the-art amenities, expansive grounds, and stunning panoramic views of Los Angeles. The property became the…
On March 8, 2023, a report from the U.S. Census Bureau highlighted a notable shift in housing trends: an increase in multi-generational living arrangements. More families are opting for homes that allow them to live with aging parents or adult children, reflecting broader social and economic changes. Key players in this trend include families, homebuilders, and architects, all of whom are adapting to meet the growing demand for homes that accommodate multiple generations under one roof. One of the key moments in this trend is the rise of newly constructed homes designed specifically with multi-generational living in mind. These homes…
While many regions across the country faced the tightening effects of rising mortgage rates, Arizona’s real estate market showed remarkable resilience in March 2023. Phoenix, known for its expansive suburbs and relatively low cost of living, remained one of the fastest-growing real estate markets in the United States. The region’s housing demand continued to outpace supply, leading to a construction boom aimed at meeting the growing needs of homebuyers, particularly in the suburbs. Surge in New Construction Eases Inventory Pressures New construction in the Phoenix metro area was ramping up, helping to ease some of the inventory shortages that had…