Inflation is out of control. So it’s no surprise that real estate is red hot as well.

According to real estate investing company CARROLL founder and CEO Patrick Caroll, his company has raised rents up to 30% over the past year.

Of course, costs are going up as well.

“So as our costs go up — our costs of interest, our costs of renovations, our cost of our employees,” Caroll tells Fox Business. “We need to push those increases along through rent increase.”

Because of rising property prices, renting has become the only option for a lot of people.

“We are seeing a supply-demand imbalance,” he adds. “And now they have a lack of buyers because of mortgage rates. So, again, this has all kind of been a perfect storm for the multifamily business.”

While it’s hard to say whether rent increases are sustainable, Caroll says that his company’s occupancies are at all-time high.

If you want to tap into the multifamily real estate business, here are three real estate investment trusts that specialize in the segment. Wall Street also sees upside in this trio.

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Camden Property Trust (CPT)

Camden Property Trust owns, manages, develops and acquires multifamily apartment communities. It has investments in 170 properties containing 58,055 apartment units across the U.S.

The company also has 5 properties under development. Upon completion of those, its apartment unit count would reach 59,828.

In Q1, Camden posted a strong occupancy rate of 97.1%, compared to 95.9% in the year-ago period.

The REIT was also earning more rent from each unit. In Q1, new lease and renewal lease rates were, on average, 15.8% above expiring lease rates when signed.