One tug of a loose thread and the whole thing could come unraveled, which aptly frames the challenges many communities face when it comes to parking. On average, 1.7% of your residents are responsible for almost 100% of your towing issues. They can create bigger problems down the road.
The top storylines in multifamily this week are using data to address parking problems, employee mental health, amenities you need now, TikTok and marketing, fighting fraud, artificial intelligence, regional bank risks, interest rates and NMHC’s new housing initiative.
Zark Parking Solutions today announced the hiring of Cory Smith as vice president of sales, where he will help build o the momentous gains the company has made so far in 2023. In the last 45 days alone, Zark Parking Solutions has seen its roster of clients double.
Some communities don’t have to worry about parking. The funny thing is parking isn’t “a thing” until you don’t have it…and then it’s a “big thing!” Any hiccups in the process can lead to frustration, complaints to onsite teams and friction between neighbors.
For perhaps the most accurate depiction of what to expect in the coming years, they can examine the student housing sector. These students represent the next wave of conventional renters, after all, so their unique preferences and behaviors should not be overlooked.
The top storylines in multifamily this week are retaining residents through choice, ESG, emergency response for residents, centralization, data-based decisions, tech for reducing burnout and turnover, operational efficiency challenges, Q4 deals and economists distort the record on rent control.
Although renewals are a vital component of the leasing lifecycle, operators have long approached them with a less-than-optimized process, one that relies heavily on overextended site teams performing a series of manual tasks, often without the sufficient time and energy to do so.
The top storylines in multifamily this week are renters driving innovation, co-living and the affect on housing, tips for hiring the right people, pet technology, package management, bicycle amenities, the multifamily construction pipeline, distress in the CRE market and the revival of small multifamily homes.
While a smooth-running property is part of the equation, the most important component to driving renewals is to think of retention more holistically and provide residents with true optionality at the point of renewal. Retention can and should be about more than just keeping a resident in their current home.
Renters are modern. They expect to be able to manage their lives from the palm of their hand, and that includes their living spaces and rental experience. Today’s renters demand flexibility, affordability and options. They want it provided by their apartment community — and they want it now.