The short-term rental game is gaining some steam. With more properties being developed, multifamily owners are wanting to take advantage of vacancies.
One company, in particular, has created a business model around short-term rentals; WhyHotel. This company will partner up with developers to lease up to 100 empty units. These empty units are then treated like hotel rooms with 24/7 service.
Top 5 Multifamily Markets
- Minneapolis-St. Paul
- San Diego
- New York City
- Los Angeles
Data from the Marcus & Millichap annual National Multifamily Index.
From Your Office Door to Your Parking Spot
This summer, Brookfield Properties will utilize self-driving vehicles to transport tenants from their office to their parking spots. The 36-acre, $1.4b development is located in Reston, VA.
- JLL and Gordon Brothers are partnering up to assist struggling retailers. Services include lease mitigation, termination and restructurings; property management; fee-owned property sales; valuations; and asset dispositions.
- The millennial wellness trend is a good sign for strip centers. What’s even better? Membership models are said to be the driving force towards this upwards trend. Yoga, cycling, Crossfit classes, etc.
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