THOUGHT LEADERSHIP
Modern Amenities: Five Ways Tech Redefines Multifamily Living
by Amber Hammond
Technology plays a crucial role in enhancing the quality of life for residents. As younger generations, now the primary drivers of the multifamily industry, demand a living experience that provides convenience and comfort, owners and operators need to consider all their community-wide and in-unit amenities. Items such as community-wide WiFi, efficient package management and smart tech are transitioning from optional to necessary.
Read the article in The Multifamily Journal
MHN Council: Strategies to Celebrate Your Team
by Jessica Fiur
The current era of cost-cutting in multifamily has emphasized employee retention. Companies must focus on celebrating and motivating their teams to encourage them to stay. This includes providing employees with new experiences, recognition platforms, bonuses and acknowledgment of accomplishments through emails or notes.
Are There Resident Bullying Best Practices?
by Kathi Williams
No matter how much communities want to avoid it, resident conflict will always be something of a challenge for multifamily. The problem can be mitigated, however, through conflict management training for teams, consistent incident documentation, immediate investigation and a zero-tolerance for bullying and harassment.
MULTIFAMILY TECHNOLOGY
We Have A Wi-Fi And Digital Infrastructure Problem: What Do We Do?
by Andrew Ruhland
The multifamily industry is increasingly becoming digitized, with operators needing to modernize their services to cater to the evolving resident experience. Despite the integration of tech-centric features such as centralized leasing, smart access controls, self-guided tours and IoT, many apartment communities are lacking a reliable connectivity foundation.
Read the article in Rental Housing Journal
Multifamily Owners Centralizing in Lieu of Onsite Teams
by Franco Faraudo
The slowing multifamily market and emerging technologies are prompting more owners and operators to consider centralizing their community management teams to save money. This approach can have its drawbacks, however, and it must be done without affecting the resident experience or exposing the property to risks.
Read the article in Propmodo
INDUSTRY NEWS
Continued Job Growth Keeps Optimism Alive in Q1
by Jay Denton
Job growth in the first quarter of 2024 exceeded expectations with over 825,000 jobs created, leading to more potential renters who are key to absorbing the growing surplus of multifamily homes. The 4.1% annual wage growth and 3.8% national unemployment rate are positive indicators, but the question remains whether job growth and other economic factors will be sustained throughout the year. In addition, high interest rates continue to deter home buyers, pushing more people toward the rental market.
Read the article in Multifamily Executive
Multifamily is Playing a Bigger and More Important Role
by Philippa Maister
The National Multifamily Housing Council’s recent quarterly survey shows a looser national market, with higher vacancy rates and lower rent growth. However, the tight market for single-family and small multifamily units is creating a shortage of homes and for-sale activity, prompting many renters to stay where they are.
Read the article in GlobeSt
U.S. Multifamily Starts Fall 43% From 2023
by Dees Stribling
Apartment starts fell by 43.7% in March compared to the same month in 2023, the Census Bureau and the Department of Housing and Urban Development said. The decrease is the latest sign of a slowdown in development as new supply hits markets. Permitting for apartments dropped 17.5% year-over-year in March.
Read the article in Bisnow