Novogradac Multifamily Rental Housing Operating Expense Report, 2021 Print Edition
The Novogradac Multifamily Rental Housing Operating Expense Report, 2021 Edition, provides an updated, in-depth look at the cost of operating low-income housing tax credit (LIHTC) properties from a year deeply affected by the COVID-19 pandemic. Developers, investors and property managers can gain a deeper understanding of what happened and what to expect.
The 2021 Novogradac Multifamily Rental Housing Operating Expense Report–Survey and Analysis of LIHTC Properties uses data from more than 1,400 properties that include nearly 145,000 individual apartment units to illustrate how rental housing properties’ expenses differ over time, as well as by property size, type and location. Particular focus in 2021 is on the 1,200 properties that were in both the 2019 and 2020 data sets for Novogradac, providing insight into how the pandemic affected expenses at affordable housing properties. Special attention is paid to expense categories particularly affected by stay-at-home orders and school closures: utilities, administration and repair and maintenance.
The report shows how a unique year changed expense patterns and provides insight into what property owners and managers should expect in upcoming years. The report also provides explanations and exceptions while diving into regional and national trends to create a valuable benchmarking tool for LIHTC developers, investors, property managers and others.
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