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A Structural Model For Net Rental Income In The U.S. Leasing Industry

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  • GOMEZ-SORZANO, Gustavo Alejandro

Abstract

I estimate a theoretically and statistically satisfying model to account for Net Rental Income (NRI) for one of the largest Real Estate Investment Trust companies (REIT) in the U.S. I claim that I have found an accurate method to forecasts the direction and dollar amount of NRI in the apartment industry in The U.S. that can be extended to the remaining branches of the leasing industry. The variables that together account for ninety seven percent of the variation in NRI for this apartment company are, one-period time lag of lease renewals, the Federal Funds interest rate end of month, total gross potential of the company, total concessions, two-period time lag of move-ins, the ratio between total non-farm employment and total construction permits authorized, the inventory of houses in the U.S, one-period time lag of move-outs and this REIT apartment units occupied.

Suggested Citation

  • GOMEZ-SORZANO, Gustavo Alejandro, 2007. "A Structural Model For Net Rental Income In The U.S. Leasing Industry," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 7(1), pages 67-80.
    • Handle: RePEc:eaa:eerese:v:7:y2007:i:7_5
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    File URL: http://www.usc.es/economet/reviews/eers715.pdf
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    1. GÓMEZ-SORZANO Gustavo A, 2006. "A Structural Model For The Demand For Lease Renewals In The U.S. Leasing Industry," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 6(1).
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      Keywords

      REIT; Net Rental Income (NRI); demand for lease renewals;
      All these keywords.

      JEL classification:

      • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
      • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
      • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
      • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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