HOT & RELEVANT TOPICS
Technology: The Unsung Hero of Renewals
Multifamily has firmly and permanently embraced technology that benefits owner/operators, onsite teams and residents. Besides making it easier to manage data and lease apartments, technology has introduced enhancements to residents’ lives that encourages them to stay longer and boosts property renewals.
Property Performance Through Talent and Resident Engagement
Kendall Pretzer, CEO of Grace Hill, recently discussed how to implement training that reflects on the best of a company and provides employees with direction and motivation. She also relayed a variety of productivity and knowledge keys to help bolster employee training and encourage talent.
Centralized Apartment Leasing Offices Help Balance Headcount
In the quest to maximize operations, the centralization of leasing offices is continuing to gain momentum in the multifamily industry. The advancement and increased acceptance of technology offers the opportunity for owner/operators to reduce the time and cost of leasing units while giving potential residents a better apartment shopping experience.
IN THE NEWS
What the 2022 Federal Spending Package Means for Multifamily
President Biden signed federal omnibus legislation into law on March 15 that included 12 bills for $1.5 trillion in discretionary spending, many of which will affect the multifamily industry. In addition to increased funding to HUD for affordable housing, the package also contained extensions and modifications to the EB5 and H-2B programs, reauthorization of the Violence Against Women Act and much more.
New Data Shows Growing Problem for Homebuyers and Builders
An increasing number of U.S. households are seeing the dream of owning a home dissolve as affordability decreases, which could bring a boost to the multifamily industry. Year-over-year data for the National Association of Realtors shows mortgage payments increased 27% and family income decreased 4.5% compared to January 2021. The monthly stats were only slightly better, with a 3.4% increase in payments and a 0.5% increase in income from December 2021 to January 2022.
Benefits of Optimized Claims: Streamlining Operations
and Debt Recovery
Leasing teams face a laundry list of administrative tasks when a resident chooses to leave, which can include deposit returns, claims, evictions and debt recovery. With many leasing teams still shorthanded and over-burdened, owner/operators are turning to lease insurance that lightens the administrative load, shortens the time for claims and boosts the community’s online reputation.