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.
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?
Operators are seeking solutions that create convenience, reduce redundancies and establish single-source hubs to streamline operations. Multiple system logins have proven inefficient and problematic, turning property managers toward software that pairs with multiple hardware lines.
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.
Modern consumer expectations have greatly evolved over the last decade – especially when it comes to shopping and buying. For instance, if consumers make a substantial online purchase, chances are they have the option to pay in increments rather than in-full, using platforms such as Affirm or Afterpay.
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.
In the pet policies of the past, breed and weight restrictions were just as common as collision insurance within an automobile policy. Essentially, all rental communities had them, and it was part of the landscape. Slowly, that mindset has begun to shift—and those eliminating these pet restrictions have reaped the benefits.
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.
As climate change and other environmental challenges continue to take center stage, more and more apartment operators are talking about Environmental, Social and Governance (ESG) factors and how to create more comprehensive ESG practices within their organizations.
It is no surprise that when the market slows down, multifamily operators typically compensate with cost-cutting measures to bolster their margins. While cutting back and finding efficiencies can help companies stay profitable, the belt tightening may ultimately hurt owners both in the short and long run.