HOT & RELEVANT TOPICS
Act Now to Save Energy and Money Later
The anticipation for the EV movement has finally come to an end, and it’s time for multifamily to prepare. The activity surrounding EVs has transitioned from discussion to solid and pronounced action by consumers and automobile manufacturers. Much of this is bolstered by a rapid increase in consumer desire for affordability and sustainability in their personal transportation. More than ever, this is the time when the multifamily industry must act to meet the needs of its residents now and in the future.
The Benefits of Outsourcing
The consistent demand for housing and the resulting demands placed on onsite teams has led the multifamily industry to outsource facets of its business that were traditionally handled in-house. Even though the industry has preferred greater control in the past, tasks such as package management, guidance on assistance animals and resident events can be better handled by third-party suppliers, freeing up leasing teams to focus on resident needs and increasing net operating income.communities.
5 Summer Maintenance Checklist Items for Multifamily Communities
Summer is almost upon much of the nation and the hotter weather presents many new opportunities for multifamily communities, especially when it comes to maintenance. In addition to addressing HVAC, pool and landscaping maintenance before they develop issues, community teams need to ready supply orders, create a communication plan for residents and build team cohesion for a smooth and enjoyable summer.
IN THE NEWS
Expectations Reset, But Ultimately Higher Rates Won’t Deter Multifamily Investment
Increasing interest rates are pushing cap rates higher, but the changes won’t deter investments with billions of dollars already allocated but undeployed in the multifamily industry. Even with an insatiable appetite for deals, investors will need to reset expectations on returns, which can have implications on where an asset is priced. Even with the changes, real estate — especially multifamily — continues to be an appealing investment.
What Are You Doing to Nourish Creativity in Your Workplace?
One of the biggest challenges all companies face is fostering innovation in the workplace. Nourishing creativity creates employees who can solve problems, expand opportunities and distinguish a brand from the competition. Before companies can build a creative workplace, they need to build creativity in individual employees, which includes building a stimulating atmosphere, asking unusual questions and encouraging individuality..
How Clean Communities Improve Community Reputation
For more than two decades, online reviews have been a way for people to express their views on every product or service, both good and bad. For multifamily communities, however, online feedback functions a bit differently, and each one is a comment on how well a community functions and where improvement is needed. Cleanliness should continue to be a key initiative for operators since negative reviews about a community’s curb appeal can hinder leasing, renewals and asset value.