All the multifamily news you need
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…
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.
Operators are leaning on automation solutions more than ever to create efficiencies and save invaluable time. Yes, there is such thing as too much automation. A firm gauge of the effectiveness of automation solutions can be measured in time. When it saves time, it’s probably a solid fit.