HOT & RELEVANT TOPICS
Sustainability is a Modern Resident Requirement
According to ApartmentData.com, about 80% of renters believe living in a sustainable community is good for their health, and 61% are willing to pay more for a green building. While there are plenty of measures for providing a sustainable community, such as smart tech and energy-efficient appliances, one of the areas that cannot be overlooked is waste management, including pet waste.
Read J Retinger’s article in The Multifamily Journal
Untapped Potential: Examining the New Wave of CRM Capabilities
Customer Relationship Management (CRM) is an invaluable tool in the increasingly data-driven multifamily industry. There are capabilities within CRM that communities can utilize beyond customer service, such as automated communication that helps hit all the touchpoints and increase lead-to-lease conversion. In addition, it can provide the personalized messaging sought by many of today’s prospects.
Read Andrew Ruhland’s article in UNITS
Stepping Into the New Normal
The shift in how multifamily residents work means that coworking stations, private workstations and reliable WiFI have become as important as a rooftop deck. These residents will also look for in-unit offerings that will help enhance their workdays, such as home-office nooks and anything that will help with noise reductions. With more than 50% of Americans working at least part of the week at home, resident attraction and retention can largely rely on the availability of the work-at-home amenities they desire.
Read Sergio Chidichimo’s article in UNITS
IN THE NEWS
Four Stages of Revenue Recovery and Their Success
When faced with delinquent renters, owner/operators can expect to face four stages of revenue recovery, each with varying degrees of success. Most important in each stage is to ensure that notice is served properly and legally. The eviction process takes up to 40 days when everything goes smoothly, so there’s little room for errors that can cause delays. The sooner communities begin the process, the better chance they have to resolve the issue and recover the funds.
Read Larry Bellack’s article in The Multifamily Journal
It’s Time for Full-Time AC Season
Summer gets its official start in a little over a week, but the hotter temperatures are already here, which means a jump in AC usage. There are several things community maintenance teams can do now to make sure their property has cool air now and in the future. A robust maintenance program that includes cleaning coils, system tune-ups and filter changes will keep your residents from sweating out the summer.
Read Paul Bergeron’s article in UNITS
Rolling Out the Welcome Mat: Rethinking Pet-Related Restrictions
While the multifamily industry has made great strides in implementing technology, many still hold onto antiquated pet policies with the approach of “that’s the way we’ve always done things.” Communities will be better served to rethink their pet restrictions and begin welcoming pets, as well as boosting the availability of pet-related amenities. Being excited about your furry residents is a great way to strengthen a community.