The stories headlining multifamily news this week: the impact of nontraditional data points, requiring residents to be vaccinated, the evolution of single-family rental self-guided tours, higher wood prices to continue through 2022, student housing strength despite pandemic and industry leaders being proactive as eviction moratorium ends.
Commercial real estate investors and asset managers have been leveraging the same data sources for decades. With continued cap rate compression across markets and asset quality grades, there needs to be a way to win deals that will outperform in a highly competitive industry.
This week’s top multifamily storylines: motivating today’s property management associates, creating value in today’s value-add properties, the pet amenities residents want, thriving single-family rentals, full-service experiences and thoverheating apartment markets.
The top stories this week in multifamily: the power of instacaptions for multifamily marketing, tapping the capabilities of interactive sitemaps, attracting and converting prospects, rent increase predictions, smart home features that matter to boomers and the next big thing in apartment touring.
Apartment communities across the nation are making concerted efforts to strengthen their pet-friendliness, which is both uplifting and necessary.
Residents consider pets to be part of their families, and the pandemic-fueled adoption boom has added even more pets to the rental-housing landscape.
As apartment operators slowly abandon antiquated pet policies in favor of forward-thinking procedures that reflect the preferences of the modern-day renter, pet owners and non-pet owners tend to agree on several issues that conventional wisdom suggests they’d typically be divided on.
While 76% of operators identify their property as being pet-friendly, a staggering 72% of renters say that pet-friendly housing is hard to find. As these numbers seem to contradict one another, finding the cause of this disconnect is crucial to creating a community that is pet-inclusive.
Entrata has released the results of its Renters on the Move survey, which aims to capture how the COVID-19 pandemic affected American renters’ decisions about their living situations—including how much space they lived in, how much they paid for it, and priorities around location and amenities.
Operators should consider using a third-party provider to screen assistance animal accommodation requests. Doing so can mitigate liability, save time and prevent unnecessary lost pet revenues while creating consistent yet unique animal review procedures at all of your apartment communities.
Survey data indicates that an overwhelming 71% of residents support charging higher pet fees for irresponsible pet ownership. This includes failure to pick up after pets and repeated off-leash instances. It also factors in pet misbehavior, such as incessant barking and aggressive behavior.