Tuesday, August 23, 2016

National Apartment Association Completes 2016 Survey of Apartment Operating Income & Expenses

The NAA sponsored a survey of nearly 1 million apartments nationwide. The survey found that in order to guarantee success, relevance and competitive advantage, apartment owners and operators need to ensure they take the following steps:

  • Lock in long-term debt.
  • Consider the disposition of non-core assets and re-evaluate holdings in non-core locations.
  • Maximize brand differentiation.
  • Take steps to protect information from cyberattacks.
  • Continue to enhance the quality and array of resident services.
  • Take steps to know more about your residents.
  • Continue to upgrade and train exceptional talent.
  • Assure business continuity.
  • Deploy a robust social media strategy.
  • Adopt a long-term focus on investments, development and operations.

These findings are just a few of the many conclusions drawn from CEL & Associates, Inc. research and the recently completed National Apartment Association's 2016 Survey of Operating Income & Expenses in Rental Apartment Communities. The survey was conducted by Los Angeles-based CEL & Associates Inc., once again indicated that improving conditions for the rental housing market continue to be reflected in improvements to operating fundamentals.

Read a summary of the results here. Full copies of the report are available for purchase.

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