All the multifamily news you need
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 University Park, a contemporary apartment community located in the charming University Park neighborhood.
The week leading into Apartmentalize was packed with announcements from proptech firms. Among the news was Rent.'s introduction of integrated tour scheduling and Janine Steiner Jovanovic named CEO of LeaseLock, a lease insurance and financial technology provider.
Apartment communities have become very creative when it comes to keeping their current residents. Soft renewal-rate increases, promises of more resident events, the implementation of cutting-edge smart home features, property upgrades, and flexible lease terms are among the items offered.
CAPREIT, a fully integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced it has been recognized by the International Interior Design Association as a finalist for best design of a corporate office space.
Multifamily is placing more pressure on its maintenance teams than ever before. The scope of the work is growing, as companies increasingly assign the upkeep of multiple communities to a single service crew. Teams must work strategically and efficiently to accomplish more with less manpower.
As the lines between apartments and hotels become increasingly blurred, some owner-operators are leaping forward by offering properties with resort-class perks. Amenities such as concierge service, housekeeping, coffee service and more are beginning to make an appearance in multifamily communities.
The prospect journey has morphed, contorted, and then changed even more over the past decade. It has shifted pronouncedly even when just considering the past few years. Odds are the journey will shift even further within another five years.
It would be fair to surmise that most operators will elect to automate their renewal processes within the next five years. It is still a new concept in the industry, however, and many properties remain stuck using the cumbersome manual process that often leaves both residents and onsite…