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RealPage

We are a leading global provider of software and data analytics to the real estate industry. Clients use our platform to improve operating performance and increase capital returns. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves nearly 12,200 clients worldwide from offices in North America, Europe and Asia.

October 23, 2020 / Economy

Economic Recovery Continues to Slow Among Most Major Markets

From RealPage
Employment losses remain steep in most major markets, and economic recovery has slowed, paused, or in some cases, reversed, in some of the nation’s top metropolitan areas. Increasing COVID-19 infection rates and the resulting re-imposition of restrictions on businesses and residents has slowed economic recovery across the U.S.
October 16, 2020 / Real Estate, Economy

Apartment Rent Payment Results at 86.8% in Mid-October

From RealPage
The National Multifamily Housing Council reports that 86.8% of households living in the country’s stock of professionally-managed market-rate apartment properties have paid rent for October as of the 13th. The latest results fall 2.4 percentage points under the 89.2% payment level recorded through October 13, 2019.
October 13, 2020 / Economy

In Affordable Housing, Rent Payments Hold Steady Despite Expired Federal Benefits

From RealPage
When the federal unemployment benefits in the CARES Act expired at the end of July, there was legitimate concern that residents in designated affordable housing would be most impacted. But after two full monthly rent cycles, collections have surprisingly held steady.
October 9, 2020 / Economy

Apartment Rent Payment Results Prove Encouraging in Early October

From RealPage
The National Multifamily Housing Council reports that 79.4% of households living in the country’s stock of professionally-managed market-rate apartment properties have paid rent for October as of the 6th.
October 2, 2020 / Real Estate

U.S. Apartment Demand Rebounds as Leasing Surges in Sun Belt

From RealPage
U.S. apartment leasing bounced back in 3rd quarter, led by a resurgence in the nation’s Sun Belt.The occupied apartment count across the 150 largest U.S. markets climbed by 146,517 units, on net, in the July through September time frame.
October 1, 2020 / Economy

Apartment Rent Payments Again Slightly Off in Late September

From RealPage
The National Multifamily Housing Council reports that 92.2% of households living in the country’s stock of professionally-managed market-rate apartment properties have paid rent for September as of the 27th.
September 28, 2020 / Real Estate

Urban Core Apartments Turn to Rent Cuts as Performance Headwinds Strengthen

From RealPage
Downtown areas across the country are suffering the outsized impacts of both elevated apartment construction activity and economic damage from the COVID-19 outbreak. As a result, apartment operators in the nation’s urban core submarkets have resorted to some of the most severe rent cuts in the nation.
September 17, 2020

Apartment Rent Payments Follow a Normal Pattern for Recession

From RealPage
The National Multifamily Housing Council reports that 86.2% of households living in the country’s stock of professionally-managed market-rate apartment properties have paid rent for September as of the 13th. The latest results run 2.5 percentage points under the 88.7% payment level recorded through September 13, 2019. The findings come from the National Multifamily Housing Council’s Rent Payment Tracker research.
September 14, 2020 / Real Estate

Occupancy Takes a Dive in New York’s Upper-Tier Apartments

From RealPage
New York’s luxury apartments were in great shape at the beginning of 2020, but occupancy has come down notably during the COVID-19 pandemic. Between March and August, New York’s top-tier product recorded a 210-basis point decline in occupancy, one of the nation’s worst performances for that product niche.
September 11, 2020 / Real Estate

Manhattan Brings Down New York Apartment Performance

From RealPage
New York faces an uphill battle to regain its footing in apartment fundamentals, and the Manhattan submarkets are disproportionately impacting the market’s poor results. New York has racked up several unwelcome titles since the start of the pandemic. The market has lost more jobs than any other market, shedding over 1 million positions in the year-ending July. Throughout the summer, rent collections have been among worst nationally.
September 10, 2020 / Real Estate

U.S. Asking Rents Still Falling

From RealPage
Effective asking rents continued to fall in August, as U.S. apartment operators made sacrifices to maintain occupancy during the COVID-19 pandemic and recession. Rents across the U.S. were slashed by 1.4% year-over-year as of August. These were the deepest cuts the market has seen in over a decade. The last time rent cuts were this steep was back in March 2010, when the nation was climbing out of the previous recession.
September 2, 2020 / Real Estate

Occupancy Winners and Losers

From RealPage
While most of the nation’s 50 largest apartment markets surrendered some occupancy during the worst months of the pandemic, there were some holdouts. Between March and July, occupancy improved across 17 markets, with the top two performances recorded in the South region.
August 31, 2020 / Real Estate

New Lease Signings for Apartments Pick Up in July

From RealPage
New lease signings continued to increase across most major apartment markets in July. Some of the gains in leasing activity were due to pent-up demand, as stay-at-home orders due to COVID-19 were lifted. But normal seasonal renting patterns were also at play. From late March through early May, new lease signings across the nation plummeted as COVID-19 forced most leasing offices to shutter amid shelter-in-place orders.
August 27, 2020 / Real Estate

San Francisco Occupancy Takes a Dive

From RealPage
Apartment occupancy in San Francisco dove to a two-decade low in July, in the wake of the COVID-19 pandemic and resulting recession. After hitting a recent high of 96.6% in August 2019, apartment occupancy in San Francisco started coming down. When the recession hit, apartment occupancy in this pricey and chronically overbuilt area saw a severe decline, landing at 92.2% in July.
August 26, 2020 / Economy

Economic Recovery Slows in Many Markets

From RealPage
While job losses continued to ease across most markets in July, the pace of recovery is slowing, as increasing COVID-19 infection rates caused several state and local governments to reinstate or tighten existing restrictions recently. The steep job losses incurred in March, and especially in April, will take many more months to fully recover. While most markets spent June and July recouping some of those losses, the annual declines remain widespread, according to the Bureau of Labor Statistics (BLS).
August 25, 2020 / Real Estate

Apartment Rent Payments Hit 90% in August’s Third Week

From RealPage
The National Multifamily Housing Council reports that 90% of households living in the country’s stock of professionally-managed market-rate apartment properties have paid rent for August as of the 20th. The latest results run 2.1 percentage points under the 92.1% payment level recorded through August 20, 2019.
August 20, 2020 / Real Estate

Bay Area Apartment Performance Tumbles

From RealPage
While apartment market performances continued to soften nationwide in July, no major market is experiencing more severe performance slumps than those in the Bay Area. Among the nation’s 50 largest apartment markets, all three of the major Bay Area metros logged some of the steepest declines in effective asking rents. In the year-ending July 2020, San Francisco operators slashed effective asking rents 10.1%. San Jose saw a decline of 9.5% and Oakland operators cut rents 4.7%.
August 18, 2020 / Economy, Real Estate

Mid-August Apartment Rent Payments Near 87%

From RealPage
The National Multifamily Housing Council reports that 86.9% of households living in the country’s stock of professionally-managed market-rate apartment properties have paid rent for August as of the 13th. The latest results run 2 percentage points under the 88.9% payment level recorded through August 13, 2019.
August 14, 2020 / Real Estate

Student Housing Pre-Leasing Momentum Holds, Asking Rent Growth Slumps

From RealPage
Student housing pre-leasing has mostly maintained momentum, but operators have pulled back a bit on rent growth, predominantly at properties closest to campus. Since mid-March, when college campuses started closing due to the COVID-19 pandemic, pre-leasing for student housing has continued to gain momentum, though at a slower pace than in past years.
August 12, 2020 / Real Estate

Apartment Leasing Momentum Remained Brisk in July, But Uncertainty Looms

From RealPage
Apartment leasing continued at a brisk pace in July, keeping occupancy rates steady and holding rents flat. While conditions vary greatly by market, most apartments are in solid shape entering the crucial month of August, with an outlook muddied by stalled negotiations on Capitol Hill. Guest cards – the key measure of prospects indicating interest in an apartment unit – were up 14.9% in July 2020 compared to the same time last year.