HOT & RELEVANT TOPICS
Automation: Nurturing Every Lead for Increased Conversion
Leads are as different as the people who generated them, and the individuality of each needs to be recognized and nurtured properly to ensure success. Prospects aren’t satisfied with just any reply but are looking for immediate and personalized results to their inquiries. Even with the best efforts of onsite leasing teams, around 45% of leads go unanswered. Automation is providing communities with a way to reduce missed leads and increase their conversion rates.
Multifamily Only Beginning to Tap Property Optimization Potential of AI
Even as the pandemic pushed the multifamily industry to further embrace technology, artificial intelligence remained an advancement that many companies continued to resist. Armed with a better understanding of the role it can play in leasing, operations and property performance, the doubts over AI are beginning to subside. After making gains in multifamily marketing and leasing, the ability to use AI for optimization has just begun.
Workplace Culture No Longer Enough to Attract and Retain Associates
An amazing and relaxed workplace culture was once the perfect way to attract talent and keep associates loyal to a company. However, today’s workforce wants more and the employment climate has provided the opportunity to receive it. Competitive compensation, expanded benefits, growth and flexibility are a handful of components multifamily communities require to keep associates engaged.
IN THE NEWS
Lease Renewals Hit All-Time High
Residents have shown they are content to stick with their current communities rather than try to find less-expensive housing. Renewals for Q1 of 2022 were at 58.3%, besting the previous record of 57.6% set in Q3 of 2021. The decision to stay put is driven by a combination of factors, including increased mortgage rates, the difficulty of purchasing a home and low supply. In addition, the reality is that rents are rising across the board, so the opportunities for cheaper housing simply don’t exist.
The People Behind the Performance — An Interview with Todd Katler
In the latest interview in the Real Estate Business Analytics (REBA) series, Todd Katler, CEO of Anyone Home, talks with REBA CEO Donald Davidoff about how multifamily communities can excel at customer engagement and satisfaction. Katler also discusses industry innovation and the use of data to remove bias from strategy and the decision-making process.
Austin Suburb Tops RentCafe’s List of Best Places for Renters
Southern cities dominated RentCafe’s “The Best Cities for Renters in 2022” list, and Round Rock, a suburb 15 miles north of Austin, nabbed the top spot. The rankings are based on proprietary data and 17 additional metrics, including cost of living and job opportunities. Round Rock was selected the best based on the abundance of high-end apartments, quality education opportunities and some of the most robust job growth in the nation. The top 16 cities were all located in the southern region with Texas, Florida and the Carolinas dominating the top 50.