InterFace Phoenix Multifamily 2022 Conference Recap

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Multi-Family

Published

September 30, 2022

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4

min

Asset Living had the pleasure of attending the InterFace Phoenix Multifamily 2022 Conference where attendees had the opportunity to hear from leading multi-family developers, owners, investors, brokers, lenders, and financial intermediaries. The InterFace Phoenix Multifamily Conference included several panel discussions that focused on the impact of the pandemic on the Arizona multi-family market, the industry’s economic outlook, and the development pipeline. A few of the Asset Living experts on the ground summed up the InterFace Phoenix Multifamily Conference into three main takeaways.

Forecasting Flat Rental Rates

“While moderating a few of the discussions, I found the conversations around rental rates interesting. Lenders are forecasting flat rents vs. income-driven rental rates for the next 6-12 months,” says Asset Living Executive Vice President, Michael Brown.  

Residents' Perspective Matters

"One of the speakers at the conference, a class A property owner, referred to the hotel industry and how expectations are high when staying at a hotel, so we in the property management industry should strive for that same level of hospitality and attention to detail. We should always strive for residents to be proud to bring friends over. The amenities and common areas are essential,” says Asset Living Regional Supervisor, Christina Rau.

Income Growth in 2023

"The discussions confirmed what we have seen—room for income growth in 2023. We will need to continue to be watchful of leasing numbers and trends so we can stay ready to adjust quickly to meet the market, along with lowering income growth percentages," says Asset Living Senior Regional Supervisor, Jill Kravitz.

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