HOT & RELEVANT TOPICS
How Data is Driving Decisions for Multifamily Investors
In the hyperlocal industry of real estate, real-time data and open APIs are becoming the guides for decision-making with multifamily investors. Combining this granular, nontraditional data with traditional and historical data provides valuable insights into an investment decision. In addition to identifying markets for entry or expansion, the data is helpful with developing a solid rent-growth strategy.
Read Galen Faurot-Pigeon’s article in The Multifamily Journal
5 Proven Methods to Enhance Your Community’s Digital Reputation
With 93% of consumers reading online reviews before making a purchasing decision in 2021, the need for multifamily communities to maintain their online reputation is increasingly important. Matching community values to your online voice, consistency, established response times, quality and adaptability are all areas communities need to strengthen to make sure they shine online. Warmer weather traditionally results in more moving and more reviews, which marks a trend communities should examine as soon as possible.
Read Dustin Lacey’s article in Rental Housing Journal
How Pet Poop DNA Testing Fixes Your Apartment Poop Problems
Besides being a health hazard, pet poop on a community property can be a nuisance for residents and an added cost as teams are left to deal with the issue. While providing waste stations throughout a property can mitigate the problem, it isn’t a complete solution. No matter what you do, some pet owners just choose to be irresponsible. This is where poop DNA testing can help to identify the culprits and help communities reduce unattended pet waste.
Read John Triplett’s article in Rental Housing Journal
IN THE NEWS
Survey Weighs Investment Concerns About Rent Control
Numerous states across the nation are implementing or considering some type of rent control measures, and those decisions could result in damage to multifamily investments in their region. California, Oregon, Washington, Minnesota and New York are all areas that investors stated they won’t consider or are cutting back from, as a result of increased interest in rent control. This could be bad news for areas already struggling to meet the increasing demand for housing.
Read Paul Bergeron’s article in GlobeSt
Multifamily Firms Cope With Workplace Challenges
The Great Resignation has left a noticeable impact on the employment landscape, and 2021 set records for the number of Americans who chose to leave their jobs. There is no sign yet that 2022 will be much different, so communities are making An emotionally drained workforce has multifamily firms examining new avenues to attract and retain talent for their community teams. The problem is exacerbated by the attraction of remote positions over the frontline positions required by the multifamily’s need to have teams onsite for success. Owner/operators are faced with increasing salaries, bonuses and numerous other perks in a bid to snag the best workers in a highly competitive job market.
Read Joe Bousquin’s article in Multifamily Executive
Package Follow-up Fatigue Stresses Resident Relations
As the number of packages residents receive continues to grow, the stress of contacting residents and maintaining overflowing package rooms can cause tension between leasing teams and recipients. Since residents prefer the convenience of picking up a package when it’s easiest for them, communities are looking for alternative ways to deal with packages, including third-party systems that move the process outside the community.