2009 Apartment Owner Survey Predicts Coming Trends for Improvements, Advertising
J. Turner Research has released its Apartment Market Industry Outlook Survey for 2009. Among the findings:
- 54% of owners plan to increase print advertising, 64% plan to increase online advertising.
- In the coming year, 50% of owners plan to increase spending on in-unit kitchen upgrade, 43% plan to increase spending on bathrooms, 42% plan to improve flooring and 40% plan to improve fixtures.
- 40% of landlords surveyed also said they plan to improve common areas and 47% plan to add WiFi.
- Regarding the country’s economic conditions, 47% said they felt the economy was having a negative impact, and 37% said it was having a positive impact.
- 40% of owners said they had experienced some increase in site traffic as a result of a recent home foreclosure. 45% of owners said they were requiring residents with foreclosures to pay additional deposits or increasing their rates.
Other areas covered in the survey included questions regarding the importance of a multifamily property being “green” and what tactics are most often employed and planned by owners to make properties more green.
HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment owners throughout Oregon and Washington. Build your legacy at http://www.hfore.com