Driving Change: The Ripple Effects of Modern Incentives
by Rowland Hobbs
In a bid to build better and lasting relationships with residents, communities are using tech-supported initiatives that optimize incentives for residents, offering benefits for both renters and operators. The incentives include cash back on rent and other financial rewards and present an alternative to traditional items, such as discounted rent.
Seven Mistakes for Property Managers to Avoid
by Corina Stef
Even seasoned property managers make mistakes that affect owners, operators and residents. While the industry is full of challenges, there are some errors that are avoidable, including neglecting maintenance, disregarding resident communications and more.
Learning About the Multifamily Sector From Star Wars
by Danny Kattan
While many focus on the Millennium Falcon’s ability to complete the Kessel Run in less than 12 parsecs, they often overlook that the iconic ship had three bedrooms and a bathroom. Housing is important, even in a galaxy far, far away, and there’s much to learn about multifamily in Star Wars.
Out With the Old: Updating Operations Translates to Better Value
by Ed Wolff
As technology continues to make strides in multifamily, owners and operators are discovering ways to use the advancements to address long-standing inefficiencies. Antiquated business procedures can be a drag on operations and have negative effects on revenue. There are always better ways to do things, and finding efficiencies should be a goal of the industry.
Artificial Intelligence Enters the Chat
by Scott Sowers
While the technology still has flaws that must be addressed, artificial intelligence is helping multifamily find ways to make business decisions and communicate with residents in a more efficient manner. Multifamily remains people-centric, however, limiting the reach of AI into the industry.
Read the article in UNITS
Are Shareable EVs the Next Big Amenity?
by Leah Draffen
Ad resident expectations grow and parking spaces decline, shareable EVs might be the next amenity communities need to consider. A few companies are now offering EVs to rent by the hour or the day. They target communities with high walk scores, which still require the occasional use of a vehicle.
Read the article in Multifamily Executive
Reframing Multifamily Management: Trends and Challenges
by Natalie Dolce
Multifamily returns to business as usual with COVID now a normal part of society’s everyday lives, but the industry is moving forward with several lasting changes. Owners and operators are finding new ways to maximize revenue, including parking charges and flexible spaces for those who work from home. Communities are also adding amenities that address resident wellness.
Multifamily in Peril: The Perfect Storm
by Lauren Lieb
Owners are facing insurance premium increases of 30% or more, which is predicted to continue well into the coming year. Carriers are refusing to insure properties in states with higher risk, such as California and Florida. Other states, however, are not immune to the trend.
Read the article in Insurance Journal
California Caps Security Deposits at One-Month’s Rent
by RHJ Editors
California Governor Gavin Newsom signed Assembly Bill 12 into law, capping security deposits at the equivalent of one month’s rent beginning July 1, 2024. The California Apartment Association opposed the bill, stating that it unfairly limited the ability of owners to cover the costs of damages.
Read the article in Rental Housing Journal