RCRE – Following the Data with Robert Durham and Jordan Brooks
Mike Taravella and co host Will Coleman interview Robert Durham and Jordan Brooks with ALN Apartment Data.Key Information:
ALN provides data to apartment owners throughout the country.
DFW: About 82% of tenants paid rent in April compared to 90% in March. Occupancy still looks strong, Jordan is not seeing a drop in Occupancy for Dallas so far.
Atlanta: Rents have increased about 0.2% in 2020 compared to about a 2% increase in 2019. Jordan is not seeing a large jump in concessions as of yet. Demand is looking good in Atlanta.
Orlando: Rents in Orlando have been flat for a while with rents growing less than 1% per year for the last couple of years. Robert believes there will be some investment opportunities in Orlando due to the negative impact COVID-19 will have.
Phoenix: Rent growth in the first quarter was 2%. Rent concessions are being less prevalent. They are also seeing a strong occupancy of approx. 92%.
Nashville: They have seen a negative absorption in the first quarter of this year. Stabilized class A has seen a 2% drop in occupancy. Nashville is a very active market with a strong supply being added.
Expert Pro Tip: Make sure you understand the diversity and data of your market!
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