HOT & RELEVANT TOPICS
The Truth About Renter Income Volatility
The gig economy is characterized by independent contractors, short-term employment, freelance work and, most importantly, income volatility. This can make it a challenge for gig workers to make a significant monthly rent payment, a tradition that many owner/operators continue to follow. However, there are approaches to rent payments that make it easier to retain residents and reduce the costs and issues associated with delinquencies and evictions.
EV Chargers: Doing It Right the First Time
Multifamily developers and managers must continually evaluate renter preferences to attract new residents and remain competitive. One guess they don’t need to make is the installation of EV charging stations. Renters and the automobile industry have made it clear that electric is the future of transportation as sales continue massive growth and the U.S. reaches the tipping point from interest to acceptance.
Organizing and Leveraging Data to Create Actionable Reporting
The implementation, governance and leveraging of data can help multifamily organizations create meaningful, portfolio-wide KPIs and best practices. To successfully make the use of data, it’s important to create a company culture that embraces data. It’s also crucial for companies to collect and organize data in a manner that will help them achieve their business goals, as well as make sure they are confident in the information they acquire.
IN THE NEWS
Multifamily Investors Face The New Year Concerned About Capital, Values
Instead of greeting the new year with new opportunities, multifamily owner/operators are entering 2023 with a slowing economy, increasing interest rates and a turbulent capital markets environment. Some developers are seeking to capitalize on this in the form of discounted or distressed properties, which are expected to increase over the next two years, but transactions will likely decrease.
Apartment Communities Could Start Fighting Over Renters This Year
As fears of a recession surge and households postpone moving, multifamily owner/operators could find themselves in greater competition for renters. Vacancies are starting to increase in existing communities as new units enter the market, creating an environment where some properties will need to offer incentives to spur demand.
Breaking Down the Benefits of Insurtech
Uninsured renters pose a significant risk to multifamily communities, and even if they offer proof of insurance to property management, there’s nothing to stop them from canceling or letting the policy lapse. Keeping track of who is currently insured is an extremely difficult, if not impossible, task for onsite associates to tackle. To make sure companies, properties and other units remain well-protected, insurtech is one way to keep residents in compliance.