HOT & RELEVANT TOPICS
Survey: Work From Home Transitioning Resident Needs
The pandemic has of course caused a spike in the number of apartment residents who are working from home. To best serve these renters, communities may need to adjust their amenity offerings, especially when it comes to internet and printing services. In a recent survey conducted by SatisFacts, when asked which apartment amenities would best accommodate their current needs, 54.5% of respondents said faster internet optiThe pandemic has of course caused a spike in the number of apartment residents who are working from home. To best serve these renters, communities may need to adjust their amenity offerings, especially when it comes to internet and printing services. In a recent survey conducted by SatisFacts, when asked which apartment amenities would best accommodate their current needs, 54.5% of respondents said faster internet options and 50% listed printer/copier/scanner services. ons and 50% listed printer/copier/scanner services.
A Future to Look Forward to
The multifamily industry undoubtedly is facing very real challenges as 2020 draws to a close. But in a guest column for Multifamily Executive, Doug Bibby, president of the National Multifamily Housing Council, says “the silver lining is that the industry continues to adapt and innovate to meet the demand that is in the market, in every way, shape, and form.” Looking ahead to 2021, he writes, “I remain fervently confident about the health and future of our industry. I believe that because the fundamentals that have delivered so many years of growth remain constant and demand remains strong. But my optimism goes beyond just economics and demographics.”
Reduce Risk Through Contactless Package Management
When the pandemic began, apartment communities rushed to safeguard their associates, residents and prospects. Self-guided tours and virtual tours were quickly implemented. Various common areas were closed, and cleaning practices were dramatically intensified. But too many operators failed to address their package delivery systems. The constant foot traffic in and out of onsite package facilities poses obvious risks. Package rooms also present significant shared-surface contact concerns. A system that stores parcels off-site and delivers them directly to residents’ doors can alleviate these risks.
IN THE NEWS
Building a More Diverse and Inclusive Multifamily Industry
Creating an apartment company in which diversity and equity is present at all levels is not only the right thing to do. It’s also the way to build a more innovative and profitable organization. But how exactly can owners and operators go about doing this? According to Girish Gehani, COO for Chicago-based Trilogy Residential Management, some of the recommended steps include forming an internal committee to advocate for diversity, focusing on inclusion training and actively recruiting diverse talent.
Multifamily Investors End Year on Buying Spree
Sales of apartment communities understandably slowed during the spring and summer, as the economy collapsed in the wake of the pandemic. But as 2020 draws to a close, the pace of transactions is definitely picking up. In fact, the advisory firm Newmark now says it expects its 2020 multifamily sales volume to be just 15% less than last year’s. Industry experts say one of the reasons for the brisker pace is that buyers no longer expect big price reductions.
Developers and Investors Set to Dive Into Workforce Housing
With the pandemic causing communities in dense urban cores to falter – and with the growing housing affordability crisis – more multifamily developers and investors are eyeing workforce housing. For instance, CRG, the real estate development subsidiary of Clayco, recently announced it was committing $1 billion for the development of Class-B communities in primary and secondary markets across the nation. Similarly, Turner Impact Capital CEO just closed a $350 million workforce housing fund.