Industry Trends Report | Week of November 28


Best Hiring Practices: Finding a Flawless Fit for the Organization

The best way to successfully retain employees is to ensure that the right people are hired the first time. Incorrect hiring practices put companies in the position of either trying to work with employees who aren’t the right fit or starting the process over again. Implementing behavioral and skills assessment tools as part of the candidate search can help owner/operators in their evaluation prospects and find employees that are the best fit for the job.

Read Sergio Chidichimo’s article in The Multifamily Journal

The Full Property Lifecycle

SmartRent Executive Vice President of Sales Terry Danner joins the Apartments on the Go podcast to discuss the multifamily property lifecycle, its importance and how technology can be used to create a healthy resident lifecycle.

Listen to the discussion at Apartments on the Go

Multifamily Communities Encourage Festive but Safe Holiday Decor

With Thanksgiving over and the holiday season in full swing, multifamily residents are joining in with decking the halls. Many communities welcome the festive decorations but want to ensure that residents are putting safety first. These precautions include requiring artificial trees to be used instead of fresh trees, cooler LED lights, avoiding items that may be considered offensive and keeping the community hallways clear of decorations.

Read Leah Draffen’s article in Multifamily Executive


The Problem Multifamily Can No Longer Ignore: Renters Insurance Compliance

While many owner/operators are aware of residents letting renters insurance lapse or using fraudulent means to prove they have it, the costs and risks have reached the point where the problem must be addressed. The absence of renters insurance by some residents translates to higher property insurance costs, but monitoring compliance also means increased expenses. Every incident that requires an insurance claim leaves uncertainty about who is ultimately going to pay. Since monitoring compliance on even a weekly basis is a challenge for property managers, the use of insurtech can help make sure residents have the proper coverage.

Read Andrew Ruhland’s article in UNITS

Domestic Abuse During the Holidays: Tips to Keep Everyone Safe

More than 33% of women and 10% of men are affected by domestic violence, and each year sees more than three million calls to child protective services. The holidays bring additional stresses that can send domestic violence incident reports rising by more than 25%, and the occurrences are present in all types of housing and at all socioeconomic levels. Multifamily can help with this important issue with proper training and tools in place for the holiday season.

Read Lilah Poltz’s article in Multifamily Insiders

3 Reasons Hesitation Can Hurt Multifamily Sellers

The changing economic environment and rising interest rates have multifamily owner/operators unsure if they should sell or take a wait-and-see approach. A bold, decisive tactic, however, is always better than hesitation. Low inventory, maturing loans and rent control and taxation policies have made it a prime selling market.

Read Robert Stepp’s article in Multi-Housing News

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