While proprietary data systems were favored in the past, the industry is gravitating toward a data-sharing model, knowing that the ability to integrate data enhances the capabilities of the provider and operator. And yes, pet and assistance animal information is part of the mix.
The impact of pets on resident satisfaction, fixing the package overflow problem, what Porsche can teach us about property management, getting buildings ready for a Covid winter, the never ending rent control battle and the impact of Covid on renters vs. homeowners make up this week’s multifamily industry headlines.
November rent payments, meeting goals with ancillary revenue, preventative maintenance for the holidays, young renters moving back home, Trump’s Fannie and Freddie plans at risk and how the pandemic is hampering apartment construction headline this week’s Industry Trends Report.
Many apartment operators have chosen to pause renewal increases, waive a number of fees to current residents, and have not pushed rent growth as aggressively as they would have done under normal conditions. This has significantly impacted planned budgetary and revenue goals.
This week’s top multifamily stories include operational lessons from the pandemic that are now best practices, increasing multifamily salaries, responding to negative reviews, the impact of ground-floor grocers on asset value, the NYC rent slip and the most popular cities for millennials.
The Covid-19 pandemic forced property management companies to adapt on the fly like never before. The industry has implemented new processes and protocols to protect associates and residents alike, and adjusted operations to provide necessary support at the property level.
Building a CRM playbook, implementing new technologies in a scaled back manner, dealing with more support animal accommodation requests, suburban apartment growth, affordable housing opportunities and Gen Z fitness preferences headline this edition of the Industry Trends Report.
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.
One of the keys to successfully adapting to the pandemic is to realize that nothing has to be set up perfectly before implementation.
Self-guided tours were certainly becoming more common in multifamily before COVID-19. With social distancing, the adaption of them has accelerated.
Solutions to diversity challenges, connectivity and comfort in a COVID world, the problem with in-house review responses, the survival of apartment construction, the importance of socializing to Gen Z and Las Vegas’ rent payment problem headline this week’s multifamily news.