The insurtech start-up LeaseLock is breaking new ground. The company has officially surpassed $1 billion in leases insured, an impressive milestone that comes only five months after the company achieved $500 million in leases insured.
The retrofit process requires careful consideration and planning. While the cost savings and improvements made possible through smart home implementation are attractive, missteps in deployment could result in unnecessary expense and performance problems.
Among this week’s most interesting multifamily storylines: utilizing tech without sacrificing personal connections, reflecting on multifamily’s COVID-19 response, package solutions that might be causing more problems, a look back at the last decade of multifamily transactions, the apartment markets dominating the pandemic era, and amenity must haves as the lockdown ends.
Package management had become a growing concern for apartment communities, even before “safer at home” and “quarantine” became a part of our everyday life. But the pandemic triggered an irreversible trend for consumers, who now rely on e-commerce for even their most basic needs.
As the nation hit the one-year mark of COVID-19 lockdowns, two multifamily leaders shared lessons learned and what’s ahead for the future during last week’s Multifamily Executive Virtual Summit. Communication with staff and residents has taken on more importance over the past year.
This week’s top multifamily storylines include ways to make housing more affordable, product knowledge in leasing, addressing the package management burden, construction delays continue, questioning the suburban push and caring for pet-owning residents.
Inside this issue of the multifamily Industry Trends Report: making business intelligence intelligent, mixed response to Texas lifting mask mandate, residents citing pets as the reason they had to move, NMHC’s expanded commitment to diversity, equity and inclusion, the merger of RPM and CF Real Estate Services and single-family rental values.
Prospective renters are still out there shopping for their next home. And while they understand some of the limitations of leasing in the COVID era, they still expect onsite associates to bring their A game and deliver a high level of customer service.
According to the Multifamily Pet Policies and Amenities Survey recently released by PetScreening and J Turner Research, 26% of pet-owning respondents indicated they acquired their pet during the pandemic. The rate climbs to 39% when narrowing down to student-only respondents.
Data from the Pet-Inclusive Housing Initiative reveals nearly one in four apartment residents say their pet has been a reason for needing to move. The 24% figure translates to approximately 5.5 million renting households that have been displaced or voluntarily sought a new home as a result of their pet.