The multifamily industry’s operations teams are some of the most diverse workforces in the U.S. However, it’s readily apparent at the higher C-Suite and executive leadership positions that the industry’s hierarchy predominantly consists of one demographic.
Six months of paused evictions, lulls in rent hikes and waived fees have helped countless renters better weather the pandemic, but have left many housing providers feeling the pain of lost revenue. Providers are responding by seeking to grow asset value via investment in technologies.
Developers consider properties in other sectors, the operations changes that are here to stay post pandemic, and recovering lost revenue through pets are among this week’s topic stories.
The global pandemic drastically altered the way people live their lives virtually overnight. But after everyone got past the immediate shock and exasperation of staying home, society began to adjust. Most notably, self-service appears to be here to stay, embracing a remote lifestyle.
Savvy apartment operators are using technology to recover lost revenue and mitigate future losses, with some accelerating their tech rollout timelines from two years to two weeks. One often overlooked concept that can quickly drive revenue is PetTech.
Managing resident pathogen fears, stacking your tech strategically, leveraging ESG incentive programs and multifamily leasing performance make up this week’s top multifamily news headlines.
Labor Day marked the unofficial end of summer. On a national basis, multifamily data and metrics have been hovering around the same points since mid-summer. But in the week ending on Sept. 6, we saw the biggest closing of that YoY gap since March.
With the multifamily industry entrenched in the world of social distancing, operators have been quickly implementing new technologies to help support operations. A new baseline of operations also influenced decisions to implement new technology.
This week’s multifamily news hot topics: Covid-19’s impact on operations, earning ancillary revenue through pet amenities and services, helping employees cope during the pandemic, criticism mounts against Trump’s plan to stop evictions and more.
When faced with a negative review, responding in a reactionary manner will only serve to erode the situation further. More importantly, the damage will spread far beyond the relationship with the person who posted the review. Keep in mind that you’re not responding to the reviewer.