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 terms service animals and support animals are used interchangeably. The distinctions between them, however, are very important. While it’s forgivable for those with a cursory understanding to initially believe they are one and the same, property teams would be well advised to know the nuances.
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.
Gen Z and millennials may be utilizing another search engine when hunting for their next apartment — TikTok. TikTok and other short-form video platforms are now a vital ingredient in your marketing mix and one of the most important ways to attract prospects.
Multifamily experienced an improvement in mental health last year, but the number of people who reported less stress in 2023 are akin to the numbers reported during the pandemic, according to the National Apartment Association 2023 Mental and Emotional Health Study.
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.
The top storylines in multifamily this week are promoting responsible pet ownership, amenity versatility, brand messaging, tomorrow’s renters, data visualization, EVs and natural disasters, future rent growth, where the jobs are going and rising multifamily insurance.
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.
Today’s owners/operators face a choice: either embrace sustainability now and be well prepared for upcoming changes or delay and struggle to catch up later. Ignoring ESG will become increasingly difficult as demands begin to arrive from multiple sides.
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.