HOT & RELEVANT TOPICS
Tech Can Make the Construction Process More Efficient
Homes have been built the same way for centuries, and people are a necessary component for every project. Nobody has built a robot that can match a human in construction. However, the introduction of tech into the process can help developers adjust to plan changes, altered timelines and supply chain issues with greater efficiency. Tech also allows executive teams to easily assess the progress of a project to ensure everything is running smoothly.
Read Chip Bay’s article in The Multifamily Journal
Centralization: Why One Size Doesn’t Fit All
Implementation of centralization requires a thorough analysis of an owner/operator’s portfolio before any plans are made. High operating environment control with high submarket density is the most likely scenario for 100% centralization participation. This doesn’t mean that other markets can’t benefit from the process, but owner/operators will need to reduce expectations on how much centralization will work for their situation.
Read Gary Glucroft’s article in Multifamily Insiders
Proptech: Empowering and Evolving Teams
For communities looking to boost contact with prospects and create greater efficiency in maintenance, proptech can be an excellent addition to the workflow. Leasing teams are still critical to attracting new residents, but proptech can work alongside associates to provide additional touchpoints necessary to keep pace with consumer demands. In order for proptech to achieve a solid ROI, owner/operators must make sure their teams buy into the implementation.
Read Doug Pike’s article in NAA Industry Insider
IN THE NEWS
Pilot Project Uses Mushrooms to Decarbonize Construction Waste
Every year, more than 11 million tons of asphalt shingles are dumped into landfills, and it will take around 300 years for them to break down, according to the Environmental Protection Agency. One approach that can circumvent that disposal is mycoremediation technology, which combines three strains of fungi with asphalt shingles to break them down into a product that could have future uses.
Read Leah Draffen’s article in Multifamily Executive
Any Panic in Q3’s Multifamily Data is an ‘Overreaction’
Q3 is traditionally the peak season for multifamily, but after four straight quarters of demand outpacing supply, a shift in the market is emerging. Rent growth declined by 0.4% over the last 90 days, and all indicators show it will slow even faster than initially predicted by the end of 2022. Mountain and desert metros experienced abrupt downshifts, while the Midwest showed strong growth.
Read Paul Bergeron’s article in GlobeSt
Money on the Table: Weighing the Cost of Unscooped Pet Waste
As the number of renters who own pets continues to increase, many communities are re-evaluating their pet restrictions and pet policies in a bid to be more inclusive and attract this growing subset. One barrier to pet inclusiveness is the problem of unattended pet waste, which can be exacerbated by the use of maintenance and third-party pick-up services. This approach only encourages pet owners to ignore the issue, believing it will be done by someone else. The use of DNA testing of waste can encourage pet owners to be more responsible.