HOT & RELEVANT TOPICS
Ready for Centralization? Time to ACT On It!
Assessing the level of possible centralization and constructing a roadmap for it is only the beginning of the process. Once those steps are completed, centralization can’t be implemented until an organization ACTs on it, which is an acronym for Automate, Centralize and Third-Party. This is the point where operators decide what will be handled by tech, centralization or suppliers. Anything that doesn’t fit in those categories is designated to associates.
Read Cory Smith’s article in The Multifamily Journal
Striking the Balance of Automation in Multifamily
With the goal of creating greater efficiency, multifamily operators are increasing their reliance on automation. However, there is such a thing as too much automation and overload can eventually occur. Determining when automation should be used requires an assessment of whether a process is saving time. In some instances, technology could be doing just the opposite.
Reach Chase Harrington’s article in Rental Housing Journal
What You Don’t Know About Data Can Hurt You
Data is an essential component of any multifamily business decision, but it could be harmful instead of helpful without a proper way to disseminate and distribute the information. While it requires a full commitment to be effective, business intelligence (BI) can provide additional confidence in the analysis of data. A BI dashboard allows the data to be sliced in a way that is most beneficial to the organizational goals.
Read Kevin Juhasz’s article in NAA Industry Insider
IN THE NEWS
9 Emerging Trends Coming to Multifamily in 2023
Millennials and GenZ are the primary drivers of multifamily rentals, but communities still need to attract multiple generations to remain competitive, particularly with a less-rosy economic environment forming. Keeping up with trends and societal demands is necessary to increase the appeal of a community. Creative workspaces, adaptive reuse and amenities that appeal to hybrid workers are on the list for renters in the upcoming years.
Read Symone Strong’s article in Multifamily Executive
How Multifamily Can Give Back
While filling units is the primary goal, It’s also important for multifamily companies to make lasting contributions to their communities, whether through ESG or raising awareness on critical social issues. The MHN Executive Council shared some of the things their organizations and associates are doing to give back.
Read Jessica Fiur’s article in Multi-Housing News
White House Rental Rights Proposal Gets Industry Pushback
The Biden administration’s rental rights proposal is getting pushback from both sides of the issue. The multifamily industry worries that the proposal goes too far, while housing rights advocates say it doesn’t go far enough. The National Multifamily Housing Council issued a statement saying the regulations are already addressed by state and local laws, and the National Apartment Association stated that the federal government needs to avoid further interference in the owner/operator and resident relationship.