The top storylines in multifamily this week are the Atlanta market, the perils of “unbroken” solutions, millennials and renting, being hardware agnostic, renewals, website accessibility, headwinds and tailwinds in multifamily, rising rents and construction surges.
The Perils of “If It Ain’t Broke, Don’t Fix It”
When things are going well, people tend to let them be. “If it ain’t broke, don’t fix it” is the standard approach when everything flows smoothly. But, what if those “unbroken” solutions are actually causing hidden problems because all the focus is placed on other things?
Industry Trends Report |Week of March 13
The top storylines in multifamily this week are rent reporting to credit bureaus, smoke-free apartments, net operating income, flexible rent payments, app tech that drives resident retention, ChatGPT uses and risks, construction soars, higher-income renters increasing and student housing rent growth.
The Ongoing Strength of the Metro Atlanta Apartment Market
Like many apartment markets across the U.S., metro Atlanta has seen its performance cool somewhat recently in the midst of inflation and overall economic uncertainty. During the fourth quarter of 2022, same-store effective asking rents for new leases in the area increased by 4.1% year-over-year.
The Three Cs of App Tech
Today’s prospective renter experience barely resembles the traditional model deployed in recent decades. It is now fully mobile and self-sufficient, and empowers renters with more control over the process from Day 1. So why does the post-move-in resident app experience often become so convoluted?
Industry Trends Report |Week of March 6
The top storylines in multifamily this week are finding a good BTR market, rethinking pet restrictions, hoarding solutions, curb appeal is changing, the 2023 spring leasing preview, ChatGPT and multifamily marketing, oversupply won’t last, the math of renting over buying and the affordability crisis.
What Makes a Market a Good One for BTR Communities?
According to Berkadia, the construction of build-to-rent homes – single-family houses built for the purpose of renting out – jumped by 30% from 2019 to 2020. A 2022 report by the company also notes that “developers expect build-to-rent homes will reach a double-digit share of new construction by 2024.
Industry Trends Report |Week of February 27
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.
Industry Trends Report |Week of February 20
The top storylines in multifamily this week are application fraud, strengths-based culture, property marketing, tech implementation, proptech, tech stress, affordable housing, little distress for multifamily in 2023 and multifamily development outpaces single-family.
The Impact of Speedy Technology Implementation
Tech solutions meant to ease the day-to-day operations of a community and enhance the resident experience need to not only be effective and easy to use, but they should also be implemented in a speedy fashion and seamlessly integrated.