The consumer world is driving multifamily more than ever before. Today’s residents have grown up with technology at the core of their existence, use it in every aspect of their lives and now expect a truly modern living experience – and that’s what smart home systems provide.
With more residents working from home with greater regularity, they need more than just a place to dock their laptops and take calls. They need everything that the workplace once provided, which includes copying, scanning, printing and fax capabilities.
Among this week’s top multifamily headlines: the evolution of multifamily performance metrics, developer pivots in 2021, saying goodbye to pet size restrictions, the growing single-family rental land bubble, suburban strength in 2021, and construction material price rebound.
At many apartment communities, rules pertaining to pet size are written as clearly as the “no parking” restrictions in handicapped spaces. But unlike the latter, the pet-size restrictions don’t make very much sense. The perception is that larger breeds will inherently cause more damage.
For decades, pet policies were something of a cookie-cutter concept at apartment communities: Only certain breeds, only certain sizes and a limit of one or two pets per household. Those standard policies, have become antiquated as pet owners constitute one of the fastest growing segments in rental housing.
This week’s top multifamily headlines: rethinking breed restrictions, the pending bounce back of urban apartments, the habits of the most effective leasing associates, the top concerns of operators, Amazon’s $2B commitment to affordable housing, and design trends that will flourish in 2020.
Don’t let the bad actors ruin a good thing. The benefits of emotional support animals are rampant in the apartment industry, yet a small percentage of pet owners who submit insufficient assistance animal accommodation requests cloud the perception.
While breeds are most commonly restricted due to their perceived propensity for aggression, restrictions regarding size are just as prevalent. Large breeds often find themselves on restricted lists simply because they usually exceed 50 pounds.
A strong onsite leasing team is the bread and butter of a successful apartment community. Your property can have a fantastic marketing game and the best amenities around, but if your leasing associates aren’t practicing the best habits, your property is going to struggle.
Top multifamily storylines to kick off the New Year: small resident services that have a big impact on apartment communities, true integration of technology vs. data transfer, how innovation is becoming an even bigger differentiator, Radco VP’s push for more women in CRE finance, 2020 trends that will last the test of time, cybersecurity on the front lines of multifamily.