HOT & RELEVANT TOPICS
The New Revenue Recovery Process
As moratoriums come to an end in many places across the country, owner/operators are restarting efforts on evictions and collections of delinquent accounts. Some communities are facing a new eviction landscape filled with constantly changing rules and regulations. Newfound methods exist for owner/operators and managers to deal with the problems and the new revenue recovery process.
Listen to James Neely’s podcast discussion on Apartments on the Go
Community Clean-Up: Enhance Curb Appeal, Increase Asset Value
Failing to address pet waste isn’t just a health issue. It can dramatically reduce curb appeal and the value of a community. Visible pet waste on the property can be the difference between potential residents signing a lease and finding a different place to live. DNA testing of pet waste has been shown to reduce the problem by as much as 95% and offers owner/operators a chance to protect their net operating income.
Read McKenzie Towns’ article in The Multifamily Journal
How to Figure if Vacancy Rates in Your Rental Property are Good
When a rental property sits empty, there are costs involved in maintaining the property and no revenue to counter that. High vacancy and turnover rates can diminish profits on a property, making rapid occupancy recovery fundamental for any owner/operator. Calculating vacancy rates for a property and a portfolio can create a measuring stick for how well an individual community is functioning and how the market in that area is performing.
Read Justin Becker’s article in Rental Housing Journal
IN THE NEWS
New FCC Rule Will Promote Broadband Competition in Multifamily
Revenue-sharing programs between properties and providers would be terminated under a new rule instituted by the FCC that opens up broadband competition in multifamily communities. The government organization said the new rule provides multifamily residents with needed options. However, business groups say it diminishes the cost distribution created by the sharing agreements, which could harm future investment at a time when communities need to expand their connectivity.
Read the article by Erik Sherman in GlobeSt
Community Connectivity: Filling the Technology Foundation
With the use of Proptech and smart home devices on the increase, connectivity and optimization are a necessity for any community to deal with the surge. Technology has evolved from a perk to a must-have for attracting new residents, with more than 90% of multifamily housing residents saying high-speed internet is a must at any home they lease and almost 70% saying they want community-wide Wifi with it.
Read Morgan Dzak’s article in Units
Making Sense of ESG Reporting Frameworks and Standards
As investors maneuver more funds toward Environmental, Social and Governance projects, owner/operators must dedicate more attention to their performance and reporting. While the number of frameworks can be dizzying, it’s important to understand what each one requires and how well it fits into your property or project. One of the most critical components is asset-level data collection for the framework of your choice.