All the multifamily news you need
When a property is performing upgrades, the same space almost certainly would be better allocated toward attractions that would be used more frequently, such as coworking spaces or other features that cater to the work-from-home resident.
The top storylines in multifamily this week are modern amenities, celebrating teams, best practices for resident bullying, digital infrastructure, centralization, job growth boost optimism, multifamily housing playing a bigger role and apartment starts drop 43% from 2023.
As an extension of smart amenities, a connectivity foundation streamlines the Wi-Fi experience for both owners and residents. Technology is getting increasingly sophisticated and it is more important than ever for operators to ensure community networks are operating optimally.
Younger generations, who are the primary drivers of the rental housing industry, now expect a living experience that delivers a new level of convenience and comfort. It may sound harsh, but renters may refuse to rent in a community that fails to adequately meet their tech preferences.
The top storylines in multifamily this week are irresistible amenities, improvements to drive NOI, avoiding rent concessions, tech and the human touch, collecting rent in today's economy, pet data, the modern American Dream, maintenance appreciation and Chicago set to boost multifamily supply.
Several owners and operators share their thoughts about the types of capital improvements likely to prove effective in the current market—and those less likely to work—as well as their optimal processes for determining which upgrades to move forward with.
Gone are the days when four walls and a roof would suffice. Renters seeking a community that caters to their lifestyle and goes beyond the basics, and multifamily must adapt to meet these evolving demands. Convenience features enhance resident satisfaction and boost NOI.
The top storylines in multifamily this week are parking challenges, avoiding hurdles, resident retention, EV charging solutions, innovating while remembering the basics, creating new efficiencies, women's careers stalling in CRE, the Fed holds on interest rates and completions hit 50-year high.