THOUGHT LEADERSHIP
ESG: Why It’s Important and Ways Operators Can Excel
by Miguel Gutierrez
ESG plays a bigger role now in the decisions of investors, residents and stakeholders, so multifamily owners and developers need to highlight their commitment to environmental and social issues. Utilizing just a handful of industry best practices can help communities achieve successful ESG scores and demonstrate a commitment to sustainability and affordability.
Read the article in The Multifamily Journal
Slowing Rent Growth, Rising Concessions: What to Do?
by Andrew Ruhland
The continued deceleration of rent growth has spurred owners to turn again to concessions, a short-term fix that favors occupancy over stability. However, net operating income doesn’t have to take a hit from concessions if owners consider changing renter behavior and maximizing rent collection through incentives.
Unconventional Solutions Arise in Student Housing Demand
by Olivia Bunescu
While conventional multifamily housing is preparing for a steep increase in supply, student housing is facing the opposite problem. Colleges and universities are struggling to find housing for students as preleasing climbed over 54% in January, a 7.1% YOY increase. The sector is turning to creative solutions to address the issue.
MULTIFAMILY TECHNOLOGY
Building a Robust Touring Experience for Today’s Prospects
by Cody Osterman
Getting a tour in multifamily is now easier for prospects while the ways communities present tours grow more complicated. Properties need to go beyond the traditional tour during regular business hours to remain competitive. Virtual, remote and self-guided tours have entered the picture to give residents more control over their search and provide an immersive experience without being physically present.
Read the article in The Multifamily Journal
Exploring Out-of-Industry Automation Trends
by Tiffany De Alva
Automation is significantly impacting all industries, including multifamily. The industry cannot operate in a bubble and needs to examine all business to navigate this new frontier. Hyperpersonalization, voice-activated assistants and augmented and virtual reality are helping to attract prospects and handle mundane tasks.
Read the article in Multifamily Insiders
AI Helps Cut Costs, Aids in Fraud Detection
by Dina Cheney
Technology is making it easier for prospects to submit fraudulent applications and supporting documents, and technology is the best way for multifamily to reduce the crime. Advanced pattern recognition and machine learning can help to detect when a document has been altered in some cases, helping managers make better decisions.
Read the article in Realtor Magazine
INDUSTRY NEWS
FCC Ramps Up Regulation of Broadband Agreements
by Joe Riter
The FCC is planning to step up efforts to scrutinize agreements between owners and operators and broadband service providers as part of an effort it says will give multifamily renters more options. The White House announced on March 5 that it will ban bulk-billing agreements. A little over two weeks later, a rule going into effect will hold owners liable for any discrimination against residents regarding access to broadband service.
Read the Article in NAA Apartment Advocate
Multifamily’s Bounce Back Will Be Sharpest in These Markets
by Erik Sherman
Even though multifamily is facing slow rent growth and higher vacancies in areas, some markets are predicted to see stronger increases in high-growth markets. The sharpest increases are expected in Phoenix, Charlotte and Nashville. In cities that have a larger housing supply about to hit, the recovery time will be longer.
Read the article in GlobeSt
Repurposing Religious-Owned Land for Affordable Housing
by Holly Dutton
Affordable housing continues to be an issue as regulatory barriers and community pushback make the endeavor a challenge for developers. Local governments are turning to religious institutions, many of which have significant land portfolios. As church attendance declines, they are prime spots to address the issues.
Read the article in Propmodo