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.
Airbnb’s legacy of market disruption has moved from privately owned homes into multifamily buildings as the legal lines of leasing continue to be stretched into new configurations. In November 2022, Airbnb announced the launch of Airbnb-friendly apartments.
The top storylines in multifamily this week are new methods for resident retention, combatting rent growth decline, employee retention, automation and renewals, AI, problems with climate data, flex living, the amenity wars and cities where rent is growing.
Maximizing NOI is always a main focus in the multifamily industry, but tougher economic times have heightened the need. Lisa Yeh, chief operating officer for Sentral, believes that flex living elevates the experience of owners and residents, attracting a segment that is seeking shorter leases.
The top storylines in multifamily this week are pets, training and retention, flexible living, the “E” in ESG, the role of multifamily marketers, the brave new world for leasing consultants, developers sour on the Sunbelt, background checks and a record number of people are looking to move.
It is no surprise that when the market slows down, multifamily operators typically compensate with cost-cutting measures to bolster their margins. While cutting back and finding efficiencies can help companies stay profitable, the belt tightening may ultimately hurt owners both in the short and long run.
During a recent Apartments on the Go podcast, Sentral Vice President of Asset Management and Transition, Julie Butler, sat down with hosts Matt Ruedlinger and Courtney Smith to discuss Sentral’s revolutionary hospitality approach to property management.
The top storylines in multifamily this week are creating rent payment options for renters, the benefits of flexible leasing terms, how giving back builds better teams, pet-inclusive policies, dealing with loopholes in renters’ insurance and how the latest rate hikes will impact multifamily.
The top storylines in multifamily this week are eviction processes, resident retention, pets, rent growth, preventative maintenance and co-living.
The most important multifamily headlines of the week: short-term rentals are here to stay, how to attract and convert prospects with your property website, the power of ‘and’ for multifamily operators, developers are struggling to build garden-style communities, keeping expenses in check in an uncertain market and making a statement on DE&I.