Industry Trends Report |Week of April 17


Do You Have Too Many Cooks in the Renewal Kitchen?

by Kevin Murphy

Many multifamily organizations involve several departments and people when it comes to resident renewals with little guidance as to who is ultimately responsible for achieving the company’s goals. Each department approaches the task with different timelines and ambitions, which can muddy the process. In order to boost rates, the industry needs to let go of common approaches and look to new methods and technology.

Read the article in The Multifamily Journal

Combat Rent Growth Decline: New Revenue Streams

by Doug Pike

As rent growth declines in many regions in multifamily, the industry needs to turn its attention to new revenue streams that will grow net operating income and counter the decline. Flexible leases, EV charging and repurposing package facilities are a few ways to bring in more money.

Read the article in Rental Housing Journal

Employee Retention Effort Can Begin Earlier Than You Think

by Lauren Niziol

The continued growth of multifamily means a growing need for property managers. There will be more than 33,000 job openings for PMs over the next eight years, according to the Bureau of Labor and Statistics. This high demand means retention efforts must begin at recruitment.

Read the article in Multifamily Insiders


The Changing Tides of Lease Renewal Improvement in Multifamily

by Andrew Ruhland

Multifamily operators are looking for new ways to retain their current residents when leases expire, and they’re turning to technology to provide automation and hyper-personalization. Some focus should be placed on retaining residents before they even move in, and technology allows this process to begin at the first sign of interest. 

Read the article in Rental Housing Journal

How AI Can Best Serve Multifamily

by Tiffany De Alva

It’s unlikely that artificial intelligence will be able to replace humans completely in multifamily, which relies on personal contact to bring in prospects. However, AI can be highly effective in handling repetitive tasks, such as information gathering, engagement and lead nurturing. 

Read the article in Multifamily Insiders

Current Climate Data of Little Use to Businesses

by Erik Sherman

Climate change is a real threat to the commercial real estate industry, including multifamily, increasing costs and risk. Unfortunately, access to much of the data on climate is limited and often expensive, making it difficult for the industry to make informed decisions.

Read the article in GlobeSt


Maximizing Multifamily NOIs Through Flex Living

by Laura Calugar

Maximizing net operating income is always a main focus in the multifamily industry, but tougher economic times have heightened the need. Lisa Yeh, chief operating officer for Sentral, believes that flex living elevates the experience for both the owner and the resident, attracting a segment that is seeking shorter lease terms.

Listen to the podcast at Multi-Housing News

Multifamily Developers Look to Slow Amenity Space Race

by Emily Wishingrad

Attracting and retaining residents requires a good mix of community amenities, but the race to offer the best is taking a toll on the bottom line of many owner/operators. Some are seeking to slow down the amenity battle, reworking the scale and scope, in favor of healthier financials.

Read the article in Bisnow

Here Are the Cities Where Apartment Rents Are Still Rising

by Barbara Ballinger

Rent growth has slowed overall in the multifamily industry, but there are still a number of markets that are bucking the trend. Raleigh, N.C., Cleveland and Charlotte are all experiencing double-digit growth, while other areas in the Midwest and West are also seeing increases.

Read the article in GlobeSt

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