Outlook for apartment owners looking better

USA Today , quoting The National Association of Realtors,  Rents for apartments will increase 4.6% nationally next year   following an increase of 4.1% this year.  Nevertheless, the Reno area still is around 5.7% vacancy rate Cap rates are still low at around 6.3% reflecting investors’ interest.  Seven Apartment Complexes in the Reno area have sold in the $25,000 to $49,000 per unit in the last year. All in all, with little new construction in this area we should see a gradual rise in cap rates over the next year.]]>