All the multifamily news you need
Multifamily communities experience a surge in activity during the peak leasing season. This chaos can also lead to higher incidences of package theft. In 2023, approximately 119 million packages valued at $8 billion were stolen from residences, with 32% of these thefts occurring in apartment settings.
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 the student housing outlook, modular in multifamily, residents who smoke, when to centralize, the best places for AI, ChatGPT and automation, L.A. City Council blocks some evictions, high interest rates and Colorado introduces maintenance regulations.
The benefits of a third-party package management solution may not be greater anywhere than in student housing. The revolving student population, short-term leases and high package volume create challenges beyond the typical issues faced at traditional multifamily communities.
The top storylines in multifamily this week are the post-holiday package rush, human trafficking, changing resident preferences, tech trends this year, naming communities to boost SEO, Cushman & Wakefield partners with Microsoft, the surge in rental fraud, source of income laws and cap rates.
The 2023 holiday season witnessed a significant uptick in online retail sales. As the new year unfolds, property managers find themselves at the forefront of managing the aftermath — another surge in package deliveries pushed further by heightened demand for essential and practical purchases.
Fetch announced an initiative to solve the unique package management issues facing student housing operators. Multifamily operators with both market rate and student housing communities in their portfolios estimate their student housing properties receive between 30% and 50% more packages.
Without reliable rent growth margins, organizations are seeking opportunities to squeeze more revenue out of their operations. Identifying technologies, solutions and practices that directly correlate to property performance is essential.