Apartment Leasing

Industry Trends Report | Week of February 22


How Pandemic Adjustments Are Reshaping the Industry

Multifamily Technology in the Pandemic

By necessity, multifamily organizations adjusted on the fly in 2020. They had no choice in a social-distancing environment, where typical processes and procedures had to be drastically modified. The industry’s use of self-guided tours is well documented, but the influx of newfound tech didn’t stop there. From advanced verification and screening methods, intuitive communication tools to artificial intelligence, the industry did its best to remain stable during the pandemic. Some of those processes might set the blueprint moving forward. 

Read Paul Willis’s article in Propmodo

Cultivating a Synergistic Company Culture

A thriving company culture typically consists of a happy workforce that is proud to represent the organization. But it’s more than that and it doesn’t just happen magically. According to David Deitz, president of Birchstone, culture largely takes on the look of a company’s leadership. That means leaders must aim to instill that culture in everything they do and remain cognizant that their actions represent the culture as a whole. It starts with identifying the type of organization you are striving to be and asking detailed questions about the precise culture you’re trying to build. 

Read David Deitz’s blog in The Multifamily Journal

Operators Should Not Forget Non-Pet Owners When Crafting Policies

Non-pet owners in multifamily

For the most part, non-pet-owning residents are accepting of pets at a community. But that doesn’t mean they don’t have their concerns. According to a recent multifamily pet survey released by PetScreening and J Turner Research, the top three complaints about pets from non-pet owners are pet waste, off-leash pets and barking. All are valid concerns, naturally, and apartment communities can make slight adjustments to their pet policies and practices to curb the frequency of these occurrences. While it’s fashionable to be pet-friendly, non-pet owners shouldn’t be forgotten. 

Read Victoria Cowart’s blog in The Multifamily Journal


‘Bored in the Burbs’ Mindset Might Spark Downtown Rebound

The sun rising on downtown multifamily

The exodus of renters from downtown areas to the suburbs makes sense. Renters don’t mind paying city prices for the benefits of being in the city, but many of those perks have been on pause for nearly a year due to the pandemic. Those attractions will return, and many in the industry believe the downtown renters will, too. In addition to those who fled for more affordable—if less exciting—suburban markets, downtown markets didn’t attract their typical quantity of new renters. As a strong rebound candidate, downtown communities are patiently waiting for a return to form. 

Read Jacob Bourne’s article in Bisnow

How Property Managers Are Supporting Vaccination Efforts

Multifamily property managers fall under the umbrella of essential workers, so they will be among the first few waves of citizens to receive the vaccine. But their vaccination responsibilities won’t stop there. Community managers are in the unique position of serving as the communication liaison to residents, and receiving the vaccine demonstrates they can be trusted because they value the health of their residents. While they might not be able to convince everyone to get vaccinated, clear communication about vaccination sites, timelines and related information will demonstrate a caring approach.

Read Dru Armstong’s ViewPoint in Multi-Housing News

What is Facebook Pixel? And Should Marketers Care?

Facebook Pixel

As multifamily operators aim to glean a competitive advantage, they’ve demonstrated an increased dependence on data analytics. Facebook Pixel is one of those strong analytics tools, yet many organizations often rely on the Facebook pixels of their vendors rather than their own. The problem with that approach is that any key insights derived from the data belong to the vendors. Used properly, marketing teams can ensure their ads are being seen by the right prospects and increase conversion opportunities, all while measuring the effectiveness of the campaign. 

Read Christopher P. Wendt’s article in Wealth Management Real Estate

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