THOUGHT LEADERSHIP
What’s Driving the Resident Experience?
by Cory Smith
Online reviews, whether positive or negative, heavily impact decision-making for apartment hunters. Leasing and maintenance teams play a crucial role in shaping the resident experience, which frequently makes its way into reviews. Prompt service, clear communication and proactive management of issues like parking are key to maintaining positive reviews, resident retention and attracting prospects.
Read the article in The Multifamily Journal
Multifamily Success Requires Solid Teams
by Courtney Smith and Matt Ruedlinger
Multifamily faces challenges in attracting and retaining residents in the midst of growing competition, and they can ill afford an uphill battle to keep employees. Katie Nelson, Vice President of Marketing for CAPREIT, discusses the importance of creating and retaining a solid team to keep their communities competitive.
Sign and Lease: Deposit-Free Renting
by Doug Pike
Lease insurance with manageable monthly payments is replacing hefty upfront deposits, enhancing housing affordability and accessibility. This approach, with the help of AI integration, reduces financial barriers for renters, increases property protections for owners and operators and simplifies the leasing process.
MULTIFAMILY TECHNOLOGY
Five Multifamily Communities Leading in Innovation and Sustainability
by Franco Faraudo
Multifamily properties across the country are establishing themselves as the role models for cutting-edge advancements in sustainability and design. These communities include Solara in Rotterdam, N.Y., the largest net-zero apartment community in the nation, and Vero in Tempe, Ariz., which promotes a car-free lifestyle with compact, efficient units. Optima Verdana in Wilmette, Ill., showcases a biophilic design with self-watering plant curtains.
How To Enhance Leasing Efficiency With Automation
by Kevin Juhasz
Automation tools can significantly enhance leasing efficiency by reducing manual tasks, improving response times and streamlining communication with prospects. These tools can manage tasks like scheduling tours, processing applications and handling follow-ups, allowing leasing teams to focus on more personalized interactions.
Key Data Insights for Multifamily Marketing
by Corina Stef
Metrics like conversion rates, cost per lead and lead-to-lease conversion rates are essential indicators of marketing campaign success and are vital in the overall evaluation of marketing efforts. To achieve success, operators should set clear goals, use segmentation for deeper insight and invest in robust tools.
INDUSTRY NEWS
Share of Renters Is Growing Three Times Faster Than Homeowners
by MFE Staff
Renter households in the U.S. increased by 1.9% year-over-year in Q2 2024, reaching 45.2 million, compared to a 0.6% rise in homeowner households, according to a study by Redfin. Driving this trend is the higher cost of homeownership, with mortgage payments rising much faster than rents. This is the fastest growth rate for renters since 2021 and the lowest growth rate for home ownership in five years. Nationwide, average asking rents grew by only 1% compared to a 5% increase in average mortgage payments.
Read the article in Multifamily Executive
Treasury Decline Unlocks New Multifamily Opportunities
by Erika Morphy
Even though there was increasing activity before, a recent 50-basis-point drop in the 10-year Treasury yield is sparking new financing opportunities in the multifamily real estate market. This decline is leading to increased transaction volumes and higher loan-to-value ratios, with some deals securing significantly more loan proceeds.
Abandon Projects Could Take Years to Revive
by Sonya Swink
The commercial construction sector is experiencing a significant increase in project abandonments due to rising insurance rates and interest rates, as well as material cost and labor issues. Experts predict that the industry might face continued challenges over the next 12 to 18 months, but a recovery is expected eventually.