THOUGHT LEADERSHIP
Unlocking Revenue Potential: 5 Strategies for Success
by Wendy Doherty
As the consistency and reliability of rent growth give way to stagnation, owners and operators are looking outside traditional sources and exploring other opportunities to maximize revenue. Outsourcing tasks that are large consumers of time, as well as streamlining operations, are examples of ways for companies to expand their revenue potential.
Read the article in The Multifamily Journal
Involving Maintenance in the Customer Journey
by Doug Pike
While the leasing team handles getting people into their homes, the maintenance team frequently becomes the main point of contact for residents after that. Their heavy influence on satisfaction and retention makes them a valuable part of the customer journey, requiring a strong relationship between them and the leasing team.
The Increasing Importance of Being Pet-Friendly
by Brooke Atsalis
Accepting some animals was once all a community needed to be considered pet-friendly, but that’s no longer the case. As residents’ expectations have risen from a personal standpoint, they also desire reduced restrictions and more amenities for their furry friends. Communities cannot just allow pets — they must also embrace them.
MULTIFAMILY TECHNOLOGY
Redefining the Resident Experience with Financial Wellness
by Terri Nicholson
With more supply hitting the multifamily market and rent growth shrinking, resident retention is gaining greater importance again. Wellness initiatives, flexible payment options and rewards programs are avenues to encourage residents to remain with their current community. Not only do these programs help to make home life easier, but they also demonstrate a sense of caring from owners, operators and management.
Read the article in The Multifamily Journal
8 Things We’re Going to Stop Doing in 2024
by Jessica Fiur
Success in New Year’s resolutions isn’t just about shifting focus to doing things right — it’s also about not doing things wrong. For multifamily in 2024, this means rethinking the use of amenity space, embracing TikTok and artificial intelligence and giving more attention to adding EV charging stations to parking spaces.
Read the article in Multi-Housing News
How TikTok Became a Kingmaker of Brands for Gen Z
by John Kell
Although Instagram remains the frontrunner for driving different brands, TikTok is emerging as one of the go-to platforms among Gen Z. However, companies need to stay away from creating ads, as they do not appeal to Gen Zers in search of more authentic content that focuses more on subject and less on selling.
Read the article Fast Company
INDUSTRY NEWS
Surviving the Supply Surplus and Preparing for the Year Ahead
by Chris Nebenzahl
The economic predictions at the beginning of 2023 were not as dire as many forecasted, but the multifamily industry was tasked with facing its first decline in nearly three years. One of the biggest setbacks was a dip in occupancy in June, which is typically a period of the opposite for the industry. This was spurred by a surge in supply that demand could not meet. With inventory expected to increase into 2025, the bottom for occupancy may not have materialized just yet.
Read the article in Multifamily Executive
Multifamily Remains a Strong Investment
by David Nelson
It seems like multifamily is facing an onslaught of negative financial aspects, including growing supply, higher interest rates, slowing rent growth, increased cost of capital and stalling transactions. Even with the appearance of great negativity, it remains one of the most powerful vehicles in real estate investment.
Read the article in 2024 Market Outlook
Disney Expanding Storyliving Communities
by Jack Rogers
The second of Disney’s Storyliving communities will be in the Chatham County, N.C., area. Called Asteria, the community will feature 4,000 units of multifamily and single-family dwellings. Besides typical amenities, Asteria will have “enrichment programming” that features Disney-themed storytelling dinners, craft lessons and more.
Read the article in GlobeSt