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.