CPM Property Group, LLC

Before you jump solely into the self-managed world, though, there’s a reason property managers are able to charge that amount; they tend to make your life a lot easier and can also protect you from certain legal situations that you might not know how to handle. Property managers already have best practices in place for dealing with residents — from resident communication, to expectation-setting, to maintenance needs — which means you can avoid the hiccups and risks that can arise with self-management.

Twin Cities update: Rent rates decreased from $1358 to $1336
Vacancy rate is at 4.3% up from 1.6% in 2017 and looks to continue that trend with 11,570 units coming in 2021 after 9,575 got delivered in 2020. Urban vacancy is up to 7.2% vs 4% in 2019.
What does this mean? The Twin Cities is still a really strong market, especially in the 1st and 2nd ring suburbs. Keep an eye on vacancy rates and underwrite higher vacancy and stagnant rents for the next few years. The market here is still good, just not unstoppable.

4 Trends Shaping the Rental Housing Market in 2018

1-Supply of Rental Units
2-Slowdown of Rental Increases
3-Increased Ownership and Acquisition Opportunties
4-Long-Term Increase of Rents