THOUGHT LEADERSHIP
When It Comes to Parking, No News is Good News
by Todd Katler
Residents usually don’t mention parking in their community until it becomes a problem. Once they encounter a challenge, it can open the floodgates of negativity shared in online reviews. To avoid a hit to the community’s reputation, owners and operators need to put the power of parking management in the hands of residents. Innovative solutions make it possible to turn parking from a headache to stress-free.
Read the article in The Multifamily Journal
Avoiding Multifamily Hurdles Before They Occur
by Gregory Lozinak
The multifamily sector is not without its challenges, and its importance in providing housing for individuals and families requires the industry to address issues head-on. Whether it’s natural disasters, weather events or resident relations, success is achieved by being proactive and having plans in place for any contingency.
New Strategies for Resident Retention
by Jessica Fiur
Three words can show owners the way to maximize net operating income and avoid the stress of cutting costs — outstanding customer service. Retaining residents is always more affordable than trying to find new ones and the surge in housing supply makes renewals an even better option. Onsite teams need to engage and connect.
MULTIFAMILY TECHNOLOGY
Balancing EV Popularity with Multifamily Charging Solutions
by Mohammad Akhlaghi
Fully electric and plug-in hybrid electric vehicles remain popular among consumers, so it’s imperative for multifamily communities to meet the needs of residents who own these vehicles. However, it’s not a case of just throwing in some EV chargers and hoping for the best. Installation factors that must be considered include demand, implementation, costs and scalability.
Read the article in The Multifamily Journal
Advancing the Industry’s Innovation
by Jeffery Kok
As multifamily companies embrace the concept of installing technology throughout their portfolios, it’s important to keep the basics in mind, ensuring residents have reliability in their tech. Wi-Fi speed and adequate coverage remain an issue for many residents, but it can be remedied.
Read the article in The Multifamily Journal
New Efficiencies: Where Does Multifamily Go From Here?
by Virginia Love
The strides in multifamily technology have produced the question, “Where does the industry go from here?” There’s still plenty of room for new efficiencies, including reimagining maintenance, utilizing artificial intelligence to a greater extent and increasing self-service options for residents.
Read the article in Multifamily Executive
INDUSTRY NEWS
Women in CRE Are Stalling Out Early in Their Careers
by Olivia Lueckemeyer and Taylor Driscoll
Even though women make up 45% of the commercial real estate industry, they hold an underwhelming 29% of leadership positions. More disheartening is the fact that more than a quarter of women have left their CRE careers in the last four years. Most women believe that the opportunities for advancement are the same or declining with only 1.7% saying that their chances of moving up have grown. Most say the industry remains an “old boys club.”
Fed Holds Interest Rates Steady Amid Stubborn Inflation
by Max Zahn
The Federal Reserve decided to hold interest rates steady, citing the uptick in inflation in February. Inflation has dropped significantly from a high of 9.1% but hasn’t fallen to the 2% the Fed wants before it will reduce interest rates. This is the fifth consecutive meeting with rates unchanged but the Fed still expects three cuts in 2024.
Read the article in ABCNews
Multifamily Completions Hit 50-Year High
by Michael Rudy
Multifamily construction has declined since July 2023, but the number of completions has hit a 50-year-high and permits and starts are staging a comeback as well. Completions experienced a surge of more than 20% month-over-month and 4.4% YOY to 1,072,000 units, the highest level of completions since 1974.
Read the article in YieldPro