Apartment fundamentals have been the most stable of any property sector throughout the financial crisis. The return of millions of households to the rental market after temporary homeownership, the emergence of echo-boomer renters and a significant drop in new supply pipelines will ultimately lead to several years of strong rent growth. The challenge will be getting through 2009, which will require exceptional tenant retention, aggressive marketing at the property level and an unwavering focus on operations.
Kirk Felici can be reached at 786-522-7000 or firstname.lastname@example.org. Greg Matus can be reached at 954-245-3400 or email@example.com. For a copy of the complete South Florida Apartment Research Reports, as well as reports on other property types and markets nationwide, visit www.MarcusMillichap.com.