All the multifamily news you need
The stories of the week: hidden budget items that put you in the red, helping associates grow before they quit, secure package management and resident satisfaction, CRE's stimulus wish, recession-resilient Class B multifamily and apartment home size increases in pandemic.
This year, budget planning could have been particularly painful. Thanks to the pandemic, property managers have seen revenues decline while simultaneously incurring unanticipated expenses. Generally speaking, 2020 has done a number on most companies’ financials.
As we move into 2021, the baseline delivery volume is projected to remain 30% higher, rendering traditional package management infrastructure ineffective. A solution with the ability to scale alongside the increasing number of deliveries is a requirement moving forward in the multifamily space.
This week's top storylines: printers are becoming a hot amenity, mixed results from NMHC quarterly market survey, smart home making life easier for operators and residents, investors 1031 exchanging in Sun Belt, the possible economic boom in 2021, and the uptick in home ownership that is not worrisome…
Many apartment operators have worked diligently to improve their pet-friendliness levels. And if pet friendliness wasn’t already a primary focus, it definitely should be now. New data indicates that the well-documented spike in pet adoption during the pandemic has made an impact in the apartment world.