THOUGHT LEADERSHIP
New Leases and Renewals: These Things Are Not the Same
by Kevin Murphy
Lease renewals are one of multifamily’s best opportunities for revenue but half-hearted attempts and outdated software reduce the effectiveness of this potential benefit. A potential decline in new lease opportunities puts renewals at the forefront of maintaining low vacancy rates. Renewals need a different approach than new lease signings and understanding the nuances of a resident’s decision to stay will help meet renewal goals.
Read the article in The Multifamily Journal
Learning From Women Who Forged a Path in Multifamily
by Pamela van Os and Pharrah Jackson
Systemic hurdles in the multifamily finance sector have long kept women from pursuing a career in commercial real estate loan origination. Although the “sea of blue blazers” has subsided, only 37% of positions are held by women and that figure has stayed flat for over a decade.
Top Considerations for Training and Compliance
by Greg Lozinak
Low unemployment has made it more difficult for multifamily companies to attract top talent than in the past. A blend of technology and standard training methods crafted into digestible content will help boost retention, as well as reduce hiring challenges and costs.
MULTIFAMILY TECHNOLOGY
Keeping Pace With the Ever-Morphing Prospect Experience
by Katie Nelson
Taking a universal approach can be helpful for industries that function nationwide and seek consistency in products. However, that doesn’t work well for the multifamily industry, which must now cater to varying generations that can have widely differing tastes. There isn’t even consistency within each generation, and a highly-tailored experience is required to appeal to each prospect.
Read the article in The Multifamily Journal
The Power of Benchmarks: Making Data-Driven Decisions
by Kendall Pretzer
Data is one of the critical components of commercial real estate decisions, but it is significantly less effective without the implementation of benchmarks to put the information in context. Benchmarking gives CRE professionals a clearer picture of where they stand.
Read the article in Proptech Outlook
Investing in Maintenance Training and Support
by Kevin Juhasz
Maintenance teams are vital to keeping residents happy, obtaining lease renewals and maintaining an online reputation. A growth-focused training and certification program increases the odds that your maintenance team will remain an important part of a community.
Read the article in Multifamily Executive
INDUSTRY NEWS
Bill Makes It Easier for Private Sector to Participate in Section 8
by Erik Sherman
Congress reintroduced the Choice in Affordable Housing Act of 2023 in an attempt to encourage the private sector of multifamily housing to offer more Section 8 housing. The bill, which is supported by the National Apartment Association and National Multifamily Housing Council, offers a one-time incentive for owner/operators who participate for at least one year. More than 70,000 housing providers left the program from 2010-2016.
Strong Apartment Construction Suggests Slide in Rental Costs
by Safiyah Riddle
A surge in multifamily completions over the next several months could result in a softening of rent prices down the road. Despite an 11.6% decrease in groundbreakings in June, a record 977,000 units are under construction and more than 476,000 units were completed last month.
Read the article in Reuters
NAA ApartmentCast Tackles Rent Control
by NAA ApartmentCast
Rent control is an issue that will not subside despite all the evidence of its detrimental effects on housing development. Leah Cuffy, Director of Advocacy Research at NAA, discusses recent interviews with providers and developers on how rent control impacts them and the industry.
Listen to the podcast at NAA Industry Insider