All the multifamily news you need
No two leads are identical. Some prospects need to move in a few weeks while others are looking to move in a few months. With leads pouring in from multiple online platforms everyday, sometimes tending to each one can be overwhelming for onsite teams.
The top storylines in multifamily this week are building tenured multifamily teams, streamlining the application process, evictions and onsite teams, changing the perception of renters, GenZ's effect on multifamily and pet policies to attract renters.
Apartment owners and operators are constantly devising ways to stand out in the market. An uptick in pet-friendliness and a rethink of pet amenities has the potential to attract a wider pool of residents and keep existing residents in their homes.
The top storylines in multifamily this week are expediting evictions to maximize revenue, wireless technology in multifamily, the importance of cybersecurity at communities, Biden's housing action plan, cost-per-unit jump and the green resident wave.
It appears that hiring and associate retention will dominate multifamily conversations for the year. Turnover rates for the industry were high even before the pandemic and the Great Resignation, but the current workforce landscape has left owner/operators scrambling to staff property teams.
Application fraud is on the rise, and fraudsters are becoming more adept at circumventing the system. Most apartment operators already have moved on from requiring onsite associates to manually verify a prospective resident’s income and employment history, which in itself helps to combat fraud.
Operators are taking unprecedented steps to combat the hiring and employee-retention challenges currently facing the industry. They need to not only take a closer look at overall associate satisfaction, but also work to identify and eliminate specific employee pain points.
Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., today announced it has broken ground on Modera Cottingham, a multi-building apartment community spanning 16 acres in south Houston.