Yardi Matrix Report Examines Hurricane Harvey’s Impact

Houston’s economy and multifamily market show resilience in
disaster’s aftermath

SANTA BARBARA, Calif.–(BUSINESS WIRE)–#Harvey–Despite the vast human and economic toll of Hurricane Harvey on Houston
and surrounding areas, the city’s multifamily fundamentals will remain
strong in the storm’s aftermath, according to a report by Yardi Matrix.

View
the full report for more information on the impact of Hurricane
Harvey and Houston’s anticipated recovery.

Property damage from one of the most expensive natural disasters in U.S.
history could top $100 billion, with up to 11% of the city’s multifamily
dwellings rendered uninhabitable. Despite that, initial analysis shows
that “the damage to multifamily properties was less than what could have
been expected given the record rainfall,” according to the report.
Furthermore, the report notes that “Harvey’s aftereffects will provide a
boost to fundamentals in the short term as demand for living space from
residents displaced by the storm will boost multifamily occupancies.”

To help connect displaced residents with new temporary or permanent
housing, Yardi launched an online housing registry at RENTCafe.com/HurricaneHarvey
along with a toll-free hotline, (844) 363-6317, that offers
housing assistance to evacuees. The site lets housing providers post
available units, some with special offers such as waived fees, to
residents affected by the hurricane.

Yardi Matrix is a business development and asset management tool for
investment professionals, equity investors, lenders, and property
managers who underwrite and manage investments in commercial real
estate. Yardi Matrix covers multifamily, industrial, office and
self-storage property types. Email [email protected],
call (480) 663-1149 or visit yardimatrix.com
to learn more.

About Yardi

Yardi® develops and supports industry-leading investment and
property management software for all types and sizes of real estate
companies. Established in 1984, Yardi is based in Santa Barbara, Calif.,
and serves clients worldwide. For more information on how Yardi is
Energized for Tomorrow, visit yardi.com.

Contacts

Yardi Systems Inc.
Jeff Adler, 303-908-5242
[email protected]