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In today’s multifamily landscape, understanding resident preferences is paramount. At the Apartment Innovation and Marketing Conference, industry leaders debunked assumptions with hard data. Reliable cell reception is the most desired amenity and five-star reviews don't have the perceived influence.
The top storylines in multifamily this week are maintenance at pet-friendly communities, what today's residents want, flex rentals boosting cash flow, connectivity, mapping technology, digital retrofitting, Stevie Awards, Apartmentalize and a hard landing for the economy becomes more real.
From self-guided tours and digital payment solutions to smart-home technologies and remote work capabilities, a reliable internet connection is critical. However, delivering end-to-end connectivity involves more than simply setting up routers and access points.
When a property is performing upgrades, the same space almost certainly would be better allocated toward attractions that would be used more frequently, such as coworking spaces or other features that cater to the work-from-home resident.
While convenient, self-guided tours have uncovered new challenges for prospects when it comes to navigating the community grounds. To help prospects be more comfortable touring a community, operators have engaged new interactive mapping technologies.
Pets not only are present in designated pet areas—they’ll also regularly traverse a property’s other outdoor spaces and common areas. Naturally, they also spend many hours within the apartment home in which they reside. More pet activity in those spaces creates more chances for damage.
Multifamily operators also know the true value of resident satisfaction and its impact on retention and attracting new renters. Although it is impossible to please all residents all of the time, innovative solutions are getting operators closer to that ideal than ever before.
The top storylines in multifamily this week are modern amenities, celebrating teams, best practices for resident bullying, digital infrastructure, centralization, job growth boost optimism, multifamily housing playing a bigger role and apartment starts drop 43% from 2023.