As more communities become pet-friendly, operators have started tapping tech solutions to address some of the pain points that accompany being pet-friendly and enhance the experience for pet owners, non-pet owners and onsite teams alike.
The top storylines in multifamily this week are automation and centralization, getting ready for EV charging, avoiding team burnout, tight market brings bidding wars to multifamily, the increase of ESG in multifamily and paying rent to evicted residents.
Requiring proof of renters insurance is standard procedure when a new resident signs a lease. Regardless of their proof of insurance at the time of move-in, many residents either cancel or choose to let it lapse, figuring they can live without it and cut an additional cost, or simply forget to renew it.
The decision by all major auto manufacturers to offer EVs and PHEVs in affordable, midsize, and luxury models has driven up appeal, meaning EV charging stations are beginning to shift from amenity to necessity.
The top storylines in multifamily this week are dog breed’s minimal effect on behavior, labor shortages for leasing and maintenance teams, preparation for the 2022 hurricane season, office designs that help with lease conversions, and having bots deliver bad news.
The top storylines in multifamily this week are supporting and optimizing onsite teams, technology to make leasing teams perform better, planning and implementing EV charging stations, the barrier and regulation cost in development and creating better experiences in affordable housing.
Lifting breed and weight restrictions for our four-legged friends and generally becoming more pet-inclusive can create significant financial gain for multifamily communities, such as increased NOI and higher resident-retention rates.
The top storylines in multifamily this week are sustainability becoming a resident requirement, the next wave of CRM capabilities, remote work amenities for residents, revenue recovery, AC maintenance, and rolling out the welcome mat for pets.
When faced with delinquent renters, owner/operators and onsite teams can face up to four stages of revenue recovery. The quicker each stage is addressed, the quicker it may be resolved. Early and automated communication with the resident is key to achieving success, and recovering lost revenue.
As a panel discussed in the National Apartment Association webinar Rolling Out the Welcome Mat: Rethinking Pet-Related Restrictions, forward-thinking pet policies are more important than ever considering the pronounced rise in pet ownership over the past decade, particularly the past two years.