THOUGHT LEADERSHIP
Incentivizing On-Time Payments: A Shift in Strategies
by Terri Nicholson
The multifamily industry is grappling with the problem of residents falling behind on rent payments, with almost 4.9 million households currently in arrears. To tackle this, the industry is focusing on improving rent collection processes by implementing resident reward programs with cash-back incentives. This approach aims to incentivize positive renter behaviors and enhance the living experience for residents.
Read the article in The Multifamily Journal
Why to Think About Retention More Broadly
by Kevin Murphy
Multifamily is shifting focus from securing residents for the short term to retaining them for the long term. This approach involves understanding and addressing the evolving needs of residents, including offering options like relocating within the same community, moving to a sister community or monetizing the move-out.
Maintaining Seniors’ Satisfaction When Expenses Increase
by Adina Rogoz
It might look like cities are creating efficient, sustainable and amazing housing, but scratch the surface and you‘ll see they’re actually building a public health crisis. Rather than creating walkable areas filled with nearby parks and shops, sprawl is giving people car-dependent neighborhoods that increase pollution and drive up costs.
MULTIFAMILY TECHNOLOGY
Social Media Marketing Report 2024
by Werner Geyser
A surge in social media users has led to innovative marketing with many companies shifting their budgets from traditional channels to social media. However, there are concerns regarding decreasing engagement rates and algorithm discrimination against businesses. With many people already on social platforms, it’s inevitable that growth will slow in the coming years.
Read the article in Influencer Marketing Hub
Substance Over Style: Social Media Trends
by Camila Cal
A shift in social media trends towards authenticity and user-generated content is pushing multifamily to rethink its marketing on social platforms. Gen Z and millennials are now using TikTok and Instagram Reels for searches and they play a crucial role in narrowing down choices. Renters value honesty and expect communities to listen.
Read the article in Multifamily Florida
The Hottest Place to Find San Francisco Rentals? TikTok
by Joshua Bote
Renters in San Francisco are increasingly looking for apartments through TikTok, which offers a more efficient alternative to traditional searching. One TikTok broker with 50,000 followers compares the experience to having a friend show you a community. As available housing in SF declines, renters say this gives them an edge.
Read the article in The SF Standard
INDUSTRY NEWS
SCOTUS Declines To Hear Challenges To Rent Stabilization Laws
by Ethan Rothstein
The U.S. Supreme Court declined to hear two cases challenging New York’s rent stabilization law, but Justice Clarence Thomas left the door open for future challenges. The plaintiffs said the state’s 2019 reforms violated their constitutional rights and caused collapses in property values after they were unable to pass renovation costs on to residents.
These Effects of Concessions on Apartment Rents
by Erik Sherman
Multifamily owners and operators are using concessions to attract renters, impacting effective rents. With owners and operators motivated to fill available units in a period of rising vacancies and stagnant rent growth, leasing power has shifted to residents. While concessions undercut rents, it could prove to be mutually beneficial for everyone.
Read the article in GlobeSt
Arizona Bill Seeks to Stop Dog Breed Discrimination
by John Triplett
Arizona lawmakers are seeking to end discrimination against certain dog breeds in rental housing, such as pit bulls and German shepherds. A bill requires owners who allow dogs to accept any breed. The Arizona Multihousing Association opposes the bill due to concerns that it may lead to multifamily ceasing to allow dogs altogether.
Read the article in Rental Housing Journal