All the multifamily news you need
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.
The typical industry reaction to headwinds is to batten down the hatches, but inflation rates limit the efficacy of reductions. Cuts can trim budgets but also impair retention efforts. Operators are finding renewals, new revenue streams and NOI strategies better positions them to weather the storm.
The top storylines in multifamily this week are using tech to help, spring leasing season, mental health in multifamily, due diligence, value-add activity and Gen Z driving the urban market.
The top storylines in multifamily this week are data driving decisions, digital reputation management, waste DNA testing, rent control and investments, hiring challenges and package management.
More packages arrive each day at apartment communities, overflowing lockers and storage facilities and making a mess of common areas. Unfortunately, residents feel that urgency first-hand in the form of daily calls, texts, emails and resident portal reminders to pick up their packages.
Packages are inundating apartment communities across the country every day and buildings are even more prone to drowning in deliveries as the holiday gift mayhem unfolds. So what can property managers do to survive the deluge of packages hitting their communities?
According to a multifamily survey conducted by PetScreening and J. Turner Research of nearly 23,000 apartment residents, more than half of respondents support the idea that irresponsible pet owners should be charged more in pet-related fees.
From parking to patios, storage to poolside seating, space is finite at multifamily properties. Because square footage is directly linked to revenue at apartment communities, it is critical to leverage each inch of real estate and maximize the return on investment (ROI).