Welcome to the first episode of the Next Level Property Management Podcast, where we dive deep into the multifamily market in Reno and Northern Nevada!
In this episode, we take a look back at 2024, analyzing key market trends, transaction activity, rental performance, and what’s on the horizon for 2025 and beyond.
What You'll Learn in This Episode:✅ 2024 Market Overview: A recap of transaction volume, cap rates, and occupancy trends.
✅ New Developments: Insights into the latest multifamily projects in Reno, including Ballpark Apartments, The Rivet, and Atwood at Red.
✅ Rental Market Trends: How pricing for 1-bedroom, 2-bedroom, and 3-bedroom units shifted over the year.
✅ Challenges & Opportunities: The impact of concessions on leasing, retention strategies, and how investors can adapt.
✅ Short-Term Rentals: A look at Reno’s STR market, revenue trends, and what’s changed.
✅ Future Outlook: What to expect for rent growth, absorption rates, and new development in 2025 and 2026.
Key Takeaway:
The Reno multifamily market is stabilizing after several quarters of adjustments. While 2024 brought challenges like declining occupancy, increased concessions, and shifting cap rates, there are signs of recovery. Strategic property management and investment decisions will be crucial in navigating the evolving landscape.
Connect with us & stay updated on the Reno multifamily market!
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