This week’s top multifamily storylines: study shows more renters moved in 2020 despite the pandemic, the complexity of apartment companies requiring vaccines, average rent due to exceed $6K for those behind on rent, LeaseLock hits $1B in leases insured, Lincoln gets ready to acquire Excelsior Multifamily and affordable housing set to get a boost from Biden’s infrastructure plan.
Short-term rentals for multifamily are proving to be resilient through the pandemic and beyond with revenue-share based models emerging as the best approach. And the demand for flexible, furnished rentals is accelerating, making STRs a must-have for many apartment operators.
The top multifamily headlines this week: COVID’s impact on rent varies by neighborhood, the most common mistakes of a smart home retrofit for multifamily, smart access control provides assistance during pandemic, the top markets for apartment net absorption, the extension of the federal eviction moratorium and the strength of affordable housing lending.
The insurtech start-up LeaseLock is breaking new ground. The company has officially surpassed $1 billion in leases insured, an impressive milestone that comes only five months after the company achieved $500 million in leases insured.
The retrofit process requires careful consideration and planning. While the cost savings and improvements made possible through smart home implementation are attractive, missteps in deployment could result in unnecessary expense and performance problems.
Among this week’s most interesting multifamily storylines: utilizing tech without sacrificing personal connections, reflecting on multifamily’s COVID-19 response, package solutions that might be causing more problems, a look back at the last decade of multifamily transactions, the apartment markets dominating the pandemic era, and amenity must haves as the lockdown ends.
Package management had become a growing concern for apartment communities, even before “safer at home” and “quarantine” became a part of our everyday life. But the pandemic triggered an irreversible trend for consumers, who now rely on e-commerce for even their most basic needs.
As the nation hit the one-year mark of COVID-19 lockdowns, two multifamily leaders shared lessons learned and what’s ahead for the future during last week’s Multifamily Executive Virtual Summit. Communication with staff and residents has taken on more importance over the past year.
This week’s top multifamily storylines include ways to make housing more affordable, product knowledge in leasing, addressing the package management burden, construction delays continue, questioning the suburban push and caring for pet-owning residents.
Inside this issue of the multifamily Industry Trends Report: making business intelligence intelligent, mixed response to Texas lifting mask mandate, residents citing pets as the reason they had to move, NMHC’s expanded commitment to diversity, equity and inclusion, the merger of RPM and CF Real Estate Services and single-family rental values.