HOT & RELEVANT TOPICS
Creating Happy and High-Performing Associates
The path to happy residents starts with happy, productive onsite associates. To make sure your onsite teams achieve peak performance, owner/operators must clearly define organizational goals and expectations. Other requirements to get the best out of associates include a supportive and positive company culture, career and education opportunities and finding the sweet spot between being unsupportive and micromanaging.
Read Stephen Prochnow’s article in The Multifamily Journal
The Three Essential Ingredients of Centralized Leasing
To cook up an effective centralization solution, multifamily organizations must focus on three main ingredients — self-guided tours, flexible labor and task automation. Prospects may prefer self-tours, virtual ones or traditional in-person, and it’s up to the communities to provide access to all three. Flexible labor to handle the peaks and valleys of demand is also crucial to success, as is automating repetitive and time-consuming tasks.
Read Cory Smith’s article in Multifamily Insiders
Best Practices for Marketing Apartment Communities Across Multiple Generations
Operating senior or student housing makes marketing a lot simpler since your target audience is significantly narrowed. What about those properties that need to attract residents across multiple generations and lifestyles? Millennials are the largest segment of renters in the U.S. but Gen X, Gen Z and Baby Boomers together still make up almost 60% of the leasing market. Finding common denominators, understanding social media usage and design with wide appeal will make it easy to attract renters across generations.
Read Robyn Friedman’s article in Multi-Housing News
IN THE NEWS
Human Revolution Leadership Guide
The pandemic brought to light the need for multifamily to place talent over capital as employees began to redefine what work meant to them. A work-life balance is now as high a priority as a paycheck, and retention challenges can only be addressed when organizations begin to show associates they are valued and appreciated. Taking a human-centric approach to business provides multifamily leaders the ability to understand what really drives business success.
Read Andrew Ruhland’s article in UNITS
Freddie Mac Says H2 Will Be Better for Multifamily
Freddie Mac says the multifamily industry should experience a healthy 2023, but it will be in the second half of the year rather than the first, and the extent of a possible recession will play a factor. Vacancies are predicted to increase due to economic uncertainty and increasing supply. The health of the industry also relies on income growth and healthy employment, but Freddie Mac says the factors that have made the industry strong remain in place.
Read Paul Bergeron’s article in GlobeSt
Upping the Curb Appeal Game Ups Your Resident Game
Today’s residents are increasingly tech-centered and environmentally conscious, which can lead to reputation management challenges if a community’s curb appeal doesn’t reach the highest standards. If third-party provider solutions aren’t implemented, then onsite teams need to assume those duties, which can lead to unhappy residents as customer service and maintenance are given less priority than cleaning up. To maintain five-star reviews and satisfy residents, communities need to take a proactive approach to curb-appeal issues.