Rents and demand for U.S. apartments and office space are way up but analysts expect investors in real estate companies focused on apartments to see the gains first. Apartment and office real estate companies, the best performing real estate investment trusts (REITs) this year, will report second-quarter financial results starting Monday.

Apartment rents, which include concessions such as free rent that some owners have granted, rose 1.2 percent nationally in the second quarter, as the vacancy rate fell to 5.6 percent, its lowest level since the end of 2001, according to research firm Reis Inc. Regionally, Fort Lauderdale, Florida saw second quarter rents rise 2.4 percent in the second quarter. Orlando, Florida rents rose 2.2 percent, San Jose, Ventura and San Bernardino counties in California saw rents jump 2.1 percent.

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