All the multifamily news you need
The growth of EVs has introduced new opportunities for property managers. Yet, the predictability of ROI in the EV charging sector remains a significant challenge, making it difficult for property managers to commit to maintaining or expanding their EV charging facilities.
Given the recent softening of demand for new leases, it is prudent for executives in the industry to adopt a broader perspective to resident retention. Rather than viewing residents only as customers of one community and one apartment home, operators should view them as customers of their brand.
Tribridge Residential and The Goat Farm, an arts-based social enterprise, are collaborating on a 209-unit apartment community that includes 24,000 square feet of artist studios and various spaces for exhibitions, performances and other experimental concepts.
Operators are beginning to shift their focus to financial wellness initiatives, including reward programs, to enhance residents’ lifestyles and help them develop the groundwork that leads to an unparalleled experience. These contemporary strategies are completely reshaping the multifamily landscape.
Residents often run into a communication roadblock when attempting to choose a renewal offer term, communicate newfound needs, or schedule a meeting with on-site teams. Frustration follows because residents see this as their lone opportunity to negotiate.
As more apartment communities modernize leasing and operations strategies with technology, a strong digital foundation has never been more essential to apartment development and operational processes. Nearly every facet of the apartment leasing and living experience is now enhanced by tech.
Unfortunately, fraud is not a narrow topic in the apartment world. A panel of industry experts discussed the wide-ranging topic at the Apartmentalize 2023 session Catch Me If You Can . . . And I Bet You Can’t, providing a high-level account of their experiences with fraud and…
To truly optimize their retention performance in both strong and softer markets, multifamily companies need to understand all the nuances and unique factors surrounding a resident’s renewal decision and build their procedures and tech stack accordingly.