CHICAGO—Apartment operators' ability to continue to push rents higher in today's – or any day's economic environment lately does not cease to amaze many industry observers.
Spikes are continuing, particularly among the urban, professional set of those young and old. Increasing demand and limited supply are reasons, yes, but apartment owners and managers also are pointing to renters' reduced daily expenses for things such as parking, gas, car payments and automobile insurance and what a difference that makes.
An open discussion among small groups of apartment industry professionals led to insightful, candid commentary about what they are seeing and hearing at the site level among resident needs and behaviors during a session Wednesday at National Apartment Association's Apartmentalize Conference in Chicago.
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