Amenities

Industry Trends Report |Week of February 27

THOUGHT LEADERSHIP

Pet Trends to Keep an Eye on in 2023

by Mike Shytle

Faced with increased competition for prospects and needing to increase renewals, multifamily communities are examining new ways to appeal to the modern renter. Besides boosting rental technology and increasing smart home amenities, revisiting pet policies and enhancing pet amenities has become a more appealing option for filling units and keeping residents. Pet owners stay in their current units 21% longer in units that go beyond being just pet-friendly.

Read the full article in The Multifamily Journal


Tailoring Training to Retain Talent in 2023

by Doug Pike

With the increasing stresses of recruiting and hiring talent wearing on organizations, multifamily has shifted its focus to greater retention efforts. Increased wages and enhanced benefits have helped companies keep their top talent, but the task requires a holistic and proactive approach.

Read the article in UNITS

Flexible Living is the Path to Growth in Multifamily

by Lisa Yeh

Turning prospects into residents is more successful when a community has a compelling description that will attract visits and tours. Besides being concise, the description should hit on all the amenities residents want, speak to desired residents and feature attractive photos of the property.

Read the article in Propmodo


MULTIFAMILY TECHNOLOGY

Emphasizing the “E” in ESG

by Deb DeRouen

As climate change and sustainability continue to take center stage among residents and investors, multifamily developers are giving greater importance to the “E” portion of Environmental, Social and Governance. Smart technology, energy efficiency, EV charging and waste management are some of the avenues that developers are examining to deal with issues surrounding local water protection, carbon emissions, consumption and resident health.

Read the full article in The Multifamily Journal


The Ever-Transforming Role of the Multifamily Marketer

by Virginia Love

The modern-day multifamily marketer is becoming a larger player in operations, collaborating with different departments and utilizing an expanding catalog of technology to attract prospects and generate leads. They are also expected to play a greater rolein fair housing and DEI initiatives.

Read the article in Multifamily Executive

A Brave New World for the Leasing Consultant

by James Campbell

The “old school” ways of the leasing consultant, which focused on single properties and paper processes, are no longer the standard operating procedure for multifamily. A brave new world of centralized operations, proptech and social media management is here to stay.

Read the article in UNITS


INDUSTRY NEWS

This is Why Multifamily Developers Have Soured on the Sunbelt

by Erika Morphy

The Sunbelt was poised to continue as the top market for the industry, attractive for its fast growth, fundamentals and friendlier regulations. However, projected rent growth of only 0.04% compared to 1.4% for gateway cities have investors turning elsewhere. While many of the positives remain, the challenges are predicted to continue well into 2024 as inflation continues to put a damper on the region’s appeal.

Read the full article in GlobeSt


Resident Background Checks Under Federal Scrutiny

by John Triplett

Multifamily tech is under the microscope as the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB) seek comments on resident background checks. Rohit Chopra, director of the CFPB, claims error-filled checks are being used to deny housing.

Read the article in Rental Housing Journal

A Record 25% of Redfin Users Looking to Move to a New City

by Paul Bergeron

A report by Redfin shows that nearly 25% of its users are looking to move to a new city, driven primarily by remote work and boosted by increased living costs in some areas. Miami and South Florida were the prime destinations, followed by Sacramento, Las Vegas and Phoenix.

Read the article in GlobeSt

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