HOT & RELEVANT TOPICS
Modern Package Management Key to Customer Service
Strong customer service is one of the primary ways that apartment operators attract and retain residents. And in today’s market, with packages seemingly arriving onsite every minute, communities can’t provide strong customer service without an effective package management system. Unfortunately, most of today’s multifamily properties weren’t designed with the current package flow in mind. That’s why more and more operators are turning to third-party, off-site package services. These solutions allow associates to focus on their many other responsibilities while providing a level of service that drives resident satisfaction.
Preparing Apartment Communities for Compound Disasters
In the COVID era, prudent owners and operators are starting to realize the risks of a compound disaster at their properties. What is a compound disaster? One example would be the convergence of a Covid-19 outbreak and hurricane at a property. Now is the time for apartment companies to, among other things, develop evacuation plans, review their internal emergency communication procedures, prepare for extended disruptions of essential services and plan for supply chain interruptions.
Data Integration Critical in Today’s Multifamily Industry
As apartment communities implement more technology, it’s vital that they adopt solutions that integrate seamlessly with each other. Platforms with data-sharing capabilities create an ease of workflow, preserve data integrity and lead to more effective revenue management. As David Stunja writes, actionable pet and assistance animal data is one important reason why multifamily owners and operators are embracing open systems that “play nice” with their other technology platforms.
IN THE NEWS
Nearly 16 Million People Leave Major Cities During Pandemic
According to a report from My Move, nearly 16 million people have moved out of large cities during the pandemic. More than 14 million of those who have moved have filed a permanent change of address form, while 1.6 million people have filed a temporary form. New York, Brooklyn, Chicago, San Francisco and Los Angeles are the top markets for outward migration, in terms of both permanent and temporary moves, during the pandemic. Experts say the flight to suburban areas and smaller metros could continue after the pandemic ends if a significant percentage of companies continue to allow employees to work remotely.
Jacksonville Soon to Have Apartments Made of Shipping Containers
An 18-unit property featuring apartment homes made from shipping containers will open in downtown Jacksonville, Fla., in early 2021. Half of the units will be for long-term leases while the other half will be available as Airbnb rentals. The developer, JWB Real Estate Capital, says it got the idea for the property from a similar community in Amsterdam. “The project is not a great financial investment but for us, it’s not really about that,” a JWB executive told a Florida newspaper. “We wanted to do something that would be for downtown. We wanted to be on the forefront of that and learn. It definitely was a great learning experience. We took some lumps.”
Covid and the Future of Multifamily Parking in Urban Areas
The pandemic is unlikely to result in a long-term decline in the use of public transportation and a corresponding need for more parking spaces at apartment communities in urban centers. That’s the consensus of a group of developers, researchers and analysts who recently discussed with topic with Multifamily Executive. To start with, cars and parking spaces will remain a hot-button environmental issue, the experts noted. “Sustainability and environmentally friendly planning are top of mind and a long-term trend,” said Jim Anhut, director of the real estate investment management minor in The School of Hospitality Business at Michigan State University.