Multifamily owners and operators have been put to the test like never before due to the pandemic-induced economic fallout. Pegasus Residential recently announced it would expand into new markets like Denver and Salt Lake City, with the company already managing more than 33,000 units across 40 markets.
Fetch, an off-site package solution for multifamily communities, predicts that the onslaught of packages will be a lasting effect of the pandemic. Year-over-year package numbers increased by 39% in March and 48% in April, but then skyrocketed 58% in May and 63% in June.
With more residents spending more time at home during the pandemic, and fewer venturing out to the store for basic supplies, operators have been faced with a flood of packages that has made every week feel like the holiday rush, turning every day into Parcel Armageddon.
SightPlan has announced its acquisition of InfoTycoon, a digital due diligence provider. SightPlan intends to use InfoTycoon’s existing due diligence to extend its existing service platform. This will allow the platform to provide a combined solution that covers the entire property life cycle.
Of the countless ways COVID-19 has impacted the multifamily industry, one of the most lasting effects may be package volume. As brick-and-mortar stores temporarily closed and consumers became hesitant to venture out, renters increasingly turned to online shopping.
A CRM is a tool that allows multifamily operators to organize and manage interactions with prospects and current residents across communication channels. The playbook is a comprehensive plan devised by the operator to guide a leasing team’s use of the CRM.
Healthy amenity programming, HVAC equipment that provides fresh air, and outdoor space. Those are a few of the wellness choices that Gen Z renters are looking for in their apartment communities today, according to leading multifamily developers, operators, and designers.
Six months of paused evictions, lulls in rent hikes and waived fees have helped countless renters better weather the pandemic, but have left many housing providers feeling the pain of lost revenue. Providers are responding by seeking to grow asset value via investment in technologies.
The round, which brings the Company’s total funding to more than $32 million, was led by Iron Gate Capital and Pando Ventures, with participation from existing investors Signal Peak Ventures, Silverton Partners, Seamless, and Venn Ventures.
In general, the apartment market has shown fairly steady improvement since its low points early on in the pandemic. Last week, I urged readers not to worry too much until we saw leading indicators like traffic and leases continue to decline over several weeks in a row.