As apartment operators calibrate their focus on further accommodating modern renters, sustainability is playing a key role in their plans. More renters are becoming aware of their environmental footprint and are making more environment and health oriented decisions in their personal lives.
Amenities play a critical role in the success of a multifamily community. For current residents, they can make or break the decision to renew. Meanwhile, prospective residents will gravitate towards communities that offer amenities that cater to their varying lifestyles.
During a recent Apartments on the Go podcast, Sentral Vice President of Asset Management and Transition, Julie Butler, sat down with hosts Matt Ruedlinger and Courtney Smith to discuss Sentral’s revolutionary hospitality approach to property management.
The top storylines in multifamily this week are creating rent payment options for renters, the benefits of flexible leasing terms, how giving back builds better teams, pet-inclusive policies, dealing with loopholes in renters’ insurance and how the latest rate hikes will impact multifamily.
A lesson from recent hiring and retention challenges is that employees possess a powerful desire to thrive in their careers and go beyond a paycheck. This presents owners and operators an opportunity to build lasting connections with their employees, which in turn creates success in hiring and retention.
In 2023, merely allowing pets at a rental community no longer qualifies as “pet friendly.” This has been a gradual trend, naturally, and not something that just sprouted up over the past few months. The response by apartment operators, however, has been mixed.
The top storylines in multifamily this week are acting on centralization, balancing automation in multifamily, data and business intelligence, emerging leasing trends in the coming year, the ways multifamily can give back and the White House rental rights proposal.
The nature of volatile income is that no two renters have the same payment schedule or cash flow. When that reality is juxtaposed with the traditional first-of-the-month rent due date, it causes financial challenges for many residents – not because they can’t pay rent, but because their cash flow is so variable.
Most operators require documentation upon move-in that proves a resident has coverage should unexpected events occur. But there are loopholes. Sometimes residents cancel a policy after moving in and others forget to renew.
With wellness and sustainability at the forefront of many residents’ minds, it’s worth reexamining some of the best practices being implemented at apartment communities when it comes to keeping residents, associates and pets safe and healthy.