Residential real estate
Delivering expert insights on resident engagement strategies, resident perks, and the how-tos on how to help residents save.
Guides for residential real estate leaders
Residential real estate refers to properties that are used for living purposes, as opposed to commercial or industrial real estate which is used for business and industrial activities. Our content includes how-tos, guides, industry trends, and news about resident perks, rewards, and engagement.
Latest
10 ways to retain your best tenants
The average cost of tenant turnover can range from $1,000 to $2,500 per unit, not including lost rent. Turnover also distracts from other important aspects of property management like maintenance, marketing, and bookkeeping. By focusing on tenant retention strategies like the ones here, landlords can build stable income streams and long-term relationships with residents.
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Residential real estate conferences worth going to in 2024
Residential real estate (RRE) has over 100 opportunities each year to meet and network with other professionals in the industry at various conferences. We go over the major players here.
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Residential real estate trends: Welcome 2024
We spoke to the experts: Here's what to look forward to in 2024 in residential real estate (single-family and multi-family rentals) and property management: Challenges, trends, and opportunities.
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How multifamily property managers can accommodate the WFH tenant
A few basic accommodations could make your multifamily housing unit a magnet for the hybrid WFH employee, which now makes up 30% of the workforce.
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Build vs buy perks software: Whats right for your company?
Embarking on a new initiative: Should you build the software in-house or buy it? There are pros and cons to each, but licensing from a vendor will get you launched faster.
Resident benefits packages: What you need to know before you implement a mandatory fee
Resident Benefits Packages are trending, but are they right for your tenants? See the pros, cons, and what you should know before you get locked into a contract.
How to increase your residential real estate competive advantage
Many real estate companies companies that offer perks to increase resident satisfaction include offers for: fitness classes, pet-friendly amenities, and community events, concierge services, bike storage, game rooms, and building lounges. These perks not only improve resident satisfaction but also increase the perceived value of the property while also attracting new residents.
Types of residential real estate categories include:
- Single-family homes: Stand-alone houses meant for one family or group of people.
- Apartments: Housing units in a larger building, typically owned by a single entity and rented out to individuals or families.
- Condominiums: Similar to apartments, but the units are owned individually rather than rented from a single landlord.
- Townhouses: Multi-floor homes that share one or two walls with adjacent properties but have their own entrances.
- Duplexes, Triplexes, and Quadruplexes: Buildings divided into two, three, or four units, respectively, with each unit typically having its own entrance.
- Multifamily homes: Larger buildings that house multiple families, often more than four.
- Vacation homes: Properties used for leisure and vacation purposes.
The main focus in residential real estate is providing living spaces, whether through ownership or rental. It's a significant sector in the real estate market and has a direct impact on the economy and consumers due to its essential role in providing housing.
According to the National Association of Homebuilders using US Bureau of Economic Analysis data, RRE's combined contribution to the economy usually makes up 15-18% of US GDP annually, and occurs in two basic ways:
- Residential investment (around 3-5% of GDP), means construction of new single-family and multifamily buildings, residential remodeling, manufactured home fabrication, and real estate brokers’ fees.
- Consumption spending on housing services (around 12-13% of GDP), includes gross rents and utilities paid by renters, as well as owners’ imputed rents and utility payments.
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