Based on analytics firm RealPage's recent rent report, October 2022 marks the third-largest monthly rent cut since 2010. While seasonal rent cuts are common in September and October, these latest drops may be attributed to weak demand and slowing household formation.

Still, vacancies remain relatively low at 4.7%, higher than the lowest level recorded at the beginning of 2022.

As we enter the seasonally slow leasing period of Q4 and Q1, it's important to remember that after two straight years of abnormally strong winter demand, it shouldn't be surprising to see deeper rent reductions this winter. These drop-offs shouldn't mean much unless they are drastic.



Due to inflation and rising interest rates, demand for all types of housing (for sale or rental) has significantly slowed. The key now is to keep an eye on wages, jobs and consumer debt. If these numbers are maintained, we should expect to see demand return strong in spring 2023.

Interested to learn how you can manage your risk accordingly? Do you want to connect with financing solutions for your real estate investments? Soundview Commercial Capital can help. Reach out to us below:

Improving customer service, time and again, leads to opportunities to gain greater asset performance. However, achieving the peak of satisfaction and service levels is impossible without arming your staff and associates with the skills and tools necessary to assist residents seamlessly through their own journey.

Multifamily operations always feel more personal and important to residents. Providing them with the feeling of reassurance that they made the right choice, they belong, and that they are home is key. Curate an experience that makes lasting memories.

Take your multifamily customer service to levels by working to meet resident needs throughout their personal journey at your establishment.

Dive into this insightful article to learn more about the importance of service in asset performance, and why the resident experience often goes by the wayside:

If there's one thing we can't deny, it's that the global health crisis and the subsequent shift to remote and hybrid work has had a significant effect on the amenities and features that multifamily residents look for.

Developers previously focused on including specialized offerings that attracted young working professionals. But now, thanks to remote work, common spaces outside units are highly sought after. Interest in entertainment venues such as theater rooms or demonstration kitchens has shifted to coworking centers and consolidated amenities.

Learning from veterans in the industry about the amenities that will resonate most with renters can provide valuable insight that can't be seen anywhere else.

Read the article by Multifamily Dive to learn more about 9 features that renters are likely to be looking for in 2023: