HOT & RELEVANT TOPICS
To Bootstrap or Not: Proptech Founders on When to Take VC Money
When a start-up needs an influx of funding, VC is a tempting route to travel. However, some companies may choose to forgo it in favor of more control over their company and their products. That choice doesn’t always equal a greater chance of success. Companies that need to conduct larger amounts of R&D will find that venture capitalists can be a valuable avenue.
Read Philip Russo’s article in The Multifamily Journal
Engaging Conversations: 5 Touchpoints to Add to Your Leasing Cycle
Prospective residents expect a personal connection when looking for their new home. Leasing teams can utilize technology to strengthen those connections, even automating some tasks to save time while still achieving success. It’s also a good time to conduct a technology audit on your community’s website, especially with 88% of online customers reporting they won’t return to a poorly designed site.
Read Kristi Fickert’s article in Multifamily Insiders
Boosted vs. Paid: Social Media Advertising for Apartments Explained
Social media can be an effective and affordable way for multifamily communities to reach their audience with an average cost of $6.37 to reach 1,000 people. Boosted posts can greatly extend the short reach of organic social media posts and paid advertising offers greater flexibility in your message. What you choose to post is important for success, as many viewers want real-time visuals of their next home instead of just pictures.
Read Diana Mosher’s story in Multi-Housing News
IN THE NEWS
Leadership is Learned: A Conversation with Two Multifamily CEOs
Ken Valach of Trammell Crow Residential and David Schwartz of Waterton join the hosts of the Code 53 podcast to discuss their respective journeys in the multifamily industry, philosophies on outstanding leadership and their shared goal of providing thriving multifamily communities.
Listen to the podcast discussion on NMHC
Rent-Control Measures a Top Priority for Local Lawmakers
With inflation on the rise, lawmakers in states across the country are stepping up efforts to implement rent increase caps as low as 2%. Even with threats of investment losses, rent control continues to increase in popularity among some citizens, as well. Some states have gone the opposite route, enacting statewide bans on rent control measures to block municipalities from installing any rent control measures. The move is pitting state and local governments against each other.
Read Jack Rogers’ story in GlobeSt
Supply Chain Headaches Continue for Multifamily
Supply chain issues in multifamily construction are giving rise to construction delays of up to six months and pushing costs up to 40% higher. Materials increases alone have jumped 20% and increases in demand and transportation costs are building on to the problem. To counter these trends, developers are starting the procurement process earlier in projects, as well as exploring alternative options.