HOT & RELEVANT TOPICS
Leveraging Automation to Keep Residents in Your Ecosystem
Focus on a resident’s renewal shouldn’t begin the moment they sign a lease but the first time they walk into a community. That first meeting will be an important deterministic factor when the resident decides whether to continue to live there. Automation goes beyond getting prospects in the door and can play a vital role in keeping residents long-term by taking advantage of multiple touchpoints.
Read Jacob Carter’s article in The Multifamily Journal
We’ve Always Done It That Way! Thoughts on Change
The multifamily industry has encountered more than its fair share of change since 2020 in almost every aspect of the business. One problem with change is that while it’s always occurring, there can be pushback from people more comfortable with the status quo. To help foster a greater acceptance of new ideas and technology, owner/operators will need to over-communicate with associates and maintain the long view.
Read Donje Putnam’s article in Multifamily Insiders
Improving Work-From-Home at Apartments
Work-from-home, whether full-time or hybrid, has become the norm for many multifamily residents, which means attracting and retaining that demographic requires space created to meet their needs and wants. Adding conference rooms to larger clubhouses and creating flex workspace, as well as mimicking the hospitality industry’s grab-and-go convenience shops, are ways communities can attract remote workers.
Read Jessica Fiur’s article in Multi-Housing News
IN THE NEWS
One-Third of People Ready to Move Now, Says Study
More than 33% of renters globally said they are ready to move from their current homes, according to a recent study by CBRE. The number is even higher for millenials and Gen Z, where nearly 50% in both categories are looking for a new residence within the next two years. Of the overall renters, 49% are looking for a unit that’s closer to a city center, while 41% prefer more remote locations and 10% are looking at different countries. Attitudes in renting have shifted as higher quality and better neighborhoods surpassed affordability as the primary driver for community selection.
Read Erik Sherman’s story in GlobeSt
What to Expect When Hiring a Property Manager
Property managers and management companies will have different approaches to managing a portfolio or community, but they share a common goal of handling the management work for the owner. To hire a successful PM, it’s crucial to make sure they have a clear understanding of how multifamily operates, can make adjustments for any changes in the environment and have a clear and legal understanding of their responsibilities.
Read Mark Christianson’s article in Rental Housing Journal
Situational Homelessness and a Win for the Industry
Of the millions of people who experience homelessness over the course of a year, more than 80% are situationally homeless, facing a lack of housing due to a life-altering event. The focus of Shelters to Shutters is to provide assistance to those already caught up in situational homelessness or close to it. Local apartment associations are playing a key role in the expansion of the organization to other cities and helping it achieve its goals.