SightPlan has announced its acquisition of InfoTycoon, a digital due diligence provider. SightPlan intends to use InfoTycoon’s existing due diligence to extend its existing service platform. This will allow the platform to provide a combined solution that covers the entire property life cycle.
Self-guided tours were inching their way toward the multifamily mainstream before the coronavirus hit. Now, with the need for social distancing still here, they’re much more common across the apartment industry. This is a solution that is here to stay.
LMC, a leader in apartment development and management with a vast portfolio of luxury apartment homes across the U.S., officially rolled out the PetScreening platform in June. The wholly-owned subsidiary of Lennar Corporation now offers the service across its portfolio.
Mill Creek Residential, a leading multifamily investor and operator specializing in apartment communities across the U.S., compelted the groundbreaking of Modera Marshfield, a garden-style community. First move-ins are anticipated for late 2020.
Mill Creek Residential, a Florida-based developer, has broken ground on Modera Creative Village, a 292-unit luxury multifamily property in the Orlando. Amenities include a fitness center with a yoga area and classes, a pool and an outdoor courtyard lounge.
With the arrival of May, more than half of the states are starting to open up to one degree or another, with the rest making plans to do so in the near future. And as the country inches out of lockdown mode, we continue to see improvement in the leading indicators of traffic and leases.
First-day rent payments in May increased slightly compared to first-day payments in April. More than 15% of renters paid in full on the first in both April and May, according to the report. The trend shows that renters that can afford to pay rent are prioritizing the payment.
Although most of us contend it will be a while before things return to normal – or something resembling our former days – new data from Radix shows that the apartment industry is finding its footing as it relates to the leading indicators of traffic and leases.
Our data indicates that for the week ending on April 22, traffic was down 55% nationally from the same time last year. However, it was up 21% on a week-over-week basis. Meanwhile, the average U.S. apartment community signed 2.1 leases during the seven days ending on April 22.
Apartment teams could tell prospects about their community or show them still photos of it, but very infrequently took additional steps toward data visualization. While that transformation started last decade, visualization tools will become a must for prospects—and for multifamily organizations—in the 2020s.