HOT & RELEVANT TOPICS
Who’s Your Next Hire? Michael or C-3PO?
While the multifamily industry relies heavily on people to achieve its goals, technology is becoming a bigger part of the industry and assisting more with tasks usually done by humans. There are still tasks that machines cannot handle, but communities that use technology where possible give their managers and teams the ability to focus more on residents. A panel of industry experts gathered at 2021 Apartmentalize to discuss AI, machine learning, natural learning and other ways that technology is helping communities make the workforce be with them.
The Enduring Strength of Garden-Style Communities
Garden-style communities are meeting the needs of the moment by offering living that is closer to home living, providing residents with larger floor plans and more family-oriented amenities like playgrounds and dog parks. In addition, people are beginning to migrate to regions where garden-style communities are more prevalent than mid- and high-rise developments, lending more strength to this sector of the multifamily industry.
5 Strategies to Enhance Your Leasing Process
You only get one chance to make a first impression and that first impression is never more critical when it comes to the leasing process. To make sure residents receive 5-star treatment the moment they inquire about a community, leasing teams need the proper tools to offer it. From an immediate response to customized community presentations, ways exist to turn inquiries into signed leases.
IN THE NEWS
This Will Be an ‘Exceptionally’ Active Year for Multifamily Investment
Large communities are expected to be the primary focus of multifamily investors in 2022 as they look to deploy the hundreds of millions of dollars they have earmarked for the industry. Investors are focused heavily in the Southern region of the United States, and they’re seeking out communities of 100 units or more as vacancy rates plummet to their lowest levels in more than three decades.
Hiring and Retention Trends to Watch in 2022
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 adjustments to their recruitment and retention efforts to help cope with the issue. Trends to watch for in 2022 include a greater focus on promoting from within, flexibility, salary transparency and increase, and the embracing of boomerang employees.
Communication to Drive Resolution
With more than 6 million people still owing more than $13 billion in delinquent rent, owner/operators need the best approach to help resolve this issue and ensure their NOI does not take an unneeded hit. Community teams are not always the best route to solve this issue, since many are already stretched thin and debt issues take them away from growing and strengthening a community. An advocacy program that reaches out to residents and finds solutions could be the better choice.