All the multifamily news you need
The typical industry reaction to headwinds is to batten down the hatches, but inflation rates limit the efficacy of reductions. Cuts can trim budgets but also impair retention efforts. Operators are finding renewals, new revenue streams and NOI strategies better positions them to weather the storm.
The top storylines in multifamily this week are Renew launches, preparing for disasters, fraud prevention in BTR, optimizing access control, replacing social perks with tech tools, unsexy amenities that attract renters, multifamily values drop, the strength of Columbus, Ohio and WOTUS veto.
Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., today announced the construction process is underway at Modera Pomona, a contemporary apartment community in Los Angeles County.
Quarterra Multifamily has launched leasing at Rowan, its new apartment community in Sparks, Nev., a fast-growing suburb of Reno. This property is Quarterra’s first in Nevada. The garden-style, multifamily property has 360 units, with one-, two- and three-bedroom apartments available.
Grace Hill, an innovator of talent and customer management solutions for multifamily, announced an agreement with Interplay Learning, a leading provider of online and virtual reality training for skilled trades, to augment Grace Hill’s maintenance training with Interplay’s immersive skills training.
Renew, a cutting-edge solution that automates and optimizes the entire resident renewal process to drive NOI, today announced its official launch. Founded by Rob Hayden and Kevin Murphy, two veterans of the rental housing industry, Renew has secured more than $8 million in seed funding.
The top storylines in multifamily this week are assistance animals, co-living and micro units, ten women to watch in multifamily, eviction automation, IoT, flexible rent payments, migration trends and development, Generation Renter and job openings rise in multifamily.
Community events and amenities that encourage social interaction used to drive renewal rates and increase resident satisfaction. The idea was if residents form relationships with one another they would be more likely to renew their lease. That isn’t the case anymore.