HOT & RELEVANT TOPICS
Accommodating Renters in an Ever-Evolving Economy
An evolving economy means owner/operators need to deploy modern rent payments and benefits to accommodate their residents. In addition to flexible options for those with volatile incomes, customizable payment dates and methods and reporting of positive payments to credit bureaus are ways for communities to set themselves apart from the pack.
Read Leslie Hyman’s article in The Multifamily Journal
The New Era of Renting
Julie Butler, Sentral’s vice president of asset management, joins the Apartments on the Go podcast for a discussion on flexible leasing terms – a modern approach to multifamily leasing that can boost revenues by as much as 10%. She also discusses how pushing beyond traditional boundaries can benefit residents and employees as well.
Listen to the insightful discussion at Apartments on the Go
Building Teams by Building Community
One lesson that emerged from the pandemic was that employees are looking for more than a paycheck from their jobs. Today, associates are seeking growth and a work-life balance that aligns with their views of the world. Giving back to communities is more popular with employees than company parties. In addition to helping with hiring and retention efforts, volunteer projects can build stronger teams and organizations.
Read Kendall Pretzer’s article in Rental Housing Journal
IN THE NEWS
The State of Pets in Multifamily in 2023
As multifamily communities advance, the need to revisit longstanding and sometimes antiquated policies has become a necessity to remain competitive, especially for those surrounding pets. Residents and prospects care as much about their animals as they do modern conveniences. Owner/operators will need to align their pet policies to match resident desires if they hope to appeal to this growing demographic of renters.
Read John Bradford’s article in Multifamily Executive
Sorting Through and Solving Renters’ Insurance Loopholes
Some of it can be attributed to forgetfulness and some of it is clearly intentional. Either way, keeping renters’ insurance is not a priority for many multifamily residents, regardless of how important it is for them and the communities in which they live. With millions of renters across the country, it’s unrealistic to expect onsite teams to verify compliance each month. Third-party technology partners can help ensure that owner/operators and residents have the necessary protections in place.
Read Paul Beregeron’s article in GlobeSt
How the Fed’s Latest Rate Hike Will Impact Multifamily
The latest rate increase by the Federal Reserve was expected, and it’s likely there will be a similar increase in March, even as the economy continues to cool. While it will have an initial dampening effect on multifamily investment, some industry experts believe any slowdown will eventually lead to a stronger environment in the second half of 2023 and into 2024. Slowing rent growth and a slight downturn in development in the last few months have not changed the reality that more affordable housing is still very much in need.