It’s easy to forget that self-guided tours long been an important part of the professionally managed single-family rental space. Single-family operators have been leaving keys in drop boxes for residents to independently peruse homes for several years.
With 2020 firmly behind us, apartment owners and operators have reasons to be optimistic about the road ahead. The pandemic has undeniably presented major economic challenges for many, but the average credit score in the U.S. increased by 1% in 2020, according to Experian.
Part of the charm of the multifamily industry is that a wide variety of tactics can be used to achieve results, and virtually every operator has a unique strategy. Those divergent methods certainly apply to how operators handle their construction processes, as well.
As more and more communities allow pets onsite, most operators are seeing an uptick in assistance animal accommodation requests. It’s no secret that there are bad actors trying to pass their pets off as assistance animals to circumvent pet fees and restrictions.
Multifamily is beginning to realize the operational benefits of technology solutions and third-party services to free up onsite teams to perform the jobs they were hired for. A new revenue recovery process built with automation and integration better positions operators to mitigate the risk of bad debt.
Smart home technology allows operators to identify problem areas before they develop into larger issues and pinpoint potential points of failure prior to catastrophic damage. This predictive technology is changing the way property management companies maintain their properties.
Ashcroft Capital, a fully integrated multifamily investment firm, today announced its acquisition of Elliot Baymeadows, a garden-style apartment community in the Royal Lakes neighborhood of southern Jacksonville. Birchstone Residential has assumed management of the community.
By this I mean operators too often think of implementing solutions as an either/or scenario: should we offer guided tours or self-guided tours? Should we have prospects interact with chatbots or leasing agents over the phone? The answer in these situations is almost always “both.”
The insurtech start-up LeaseLock is breaking new ground. The company has officially surpassed $1 billion in leases insured, an impressive milestone that comes only five months after the company achieved $500 million in leases insured.
As the nation hit the one-year mark of COVID-19 lockdowns, two multifamily leaders shared lessons learned and what’s ahead for the future during last week’s Multifamily Executive Virtual Summit. Communication with staff and residents has taken on more importance over the past year.