All the multifamily news you need
Recent advancements in digital technology have altered the way renters search for apartments. From the first search to the signing of a lease, many apartment prospects are shedding a “digital-first” approach and embracing a “digital-only” strategy when looking for their next home.
The role of the multifamily marketer has morphed drastically in the past decade. Modern-day marketers are more research-driven and tech-savvy, and they play a much larger role in the organizational framework. Now their talents are being further tested.
The 2024 Renter Preferences Survey Report released by NMHC and Grace Hill provides a comprehensive look at the home features and community amenities that are most important to renters, how much they are willing to pay for them and what are their biggest considerations during their home search.
Multifamily has, for the most part, embraced the benefits of using AI and automated responses to provide prospects with immediate responses to their inquiries. Case study after case study has proven that customers prefer the immediate response over waiting for a human interaction.
Delinquencies are one of the rental housing industry’s most persistent challenges. Late or absent rent payments cause significant financial risk for properties and pose major operational disruptions that impact residents and operators alike.
As a multifamily property owner or manager, reputation stands as a cornerstone of your enterprise. In a dynamic and competitive market, it can make or break your success. Parking holds a high rank in the hierarchy of priorities for renters as they gather information about their future home.
The top storylines in multifamily this week are faster renewal decisions, pest control, empathy-driven design, social media metrics, scalability in package management, Kansas City's tech boom and housing, cities building the most apartments, Gen Z and millennial preferences and apartment growth in 2024.
The benefits of higher retention rates are clear: when a resident stays in their unit, that means reduced turnover costs and marketing expenses. One operator has even shared that strong retention rates mean less stress—and thus increased job satisfaction and better mental health—for onsite teams.