A Few Bad Parkers Spoil the Whole Lot
by Todd Katler
Surprising parking data shows that almost 100% of parking problems are caused by just 1.7% of a community’s residents. Unfortunately, this small handful of inconsiderate residents can cause bigger problems down the road. Parking challenges harm retention efforts and produce negative reviews, both of which can be costly for owners and operators.
Recession Proof Your Company with Marketing and Learning
by Paul Willis
When companies reduce expenses, employee training is one of the first areas targeted for cuts. With a possible recession coming, multifamily needs to take the opposite approach, bolstering hiring and retention, employee training and marketing efforts or risk losing their top talent.
Service Animals vs. Support Animals: Know the Difference
by John Bradford
Service animals and support animals are two terms occasionally used interchangeably, but there is a distinct difference, as are the inquiries that property teams can make for each. Understanding the difference can save time and effort and protect the community from liability.
Marketing the C-Suite Cares About
by Jordana Rothberg
Marketing is one of the most important facets of a multifamily company, and the C-suite usually has short- and long-term goals that need to work alongside marketing efforts. A group of multifamily executives joined a roundtable discussion on the marketing and branding efforts they find important, as well as how they view results.
AI Assists CRE Research, But Humans Pick the Investments
by Barbra Murray
Artificial intelligence has yet to reach the point where it can conduct thorough due diligence on a commercial property, but it can help with many of the tasks. AI platforms can provide investors with current and historical data and utilize algorithms to perform property valuations and forecasting.
Read the article in Propmodo
NM Proposes Rule Change for EV Charging Stations
by Terence West
Officials in New Mexico are proposing a rule change to its energy code that would require 20% of parking spaces in multifamily communities to be equipped with EV charging stations. Opponents of the bill say the rule change will discourage multifamily development in the state.
Read the article in EnergyPortal
93 Cents of Every Dollar Collected Covers Owner Expenses
by Vincent Salandro
Research by the National Apartment Association shows that multifamily owners only make seven cents in profit for every dollar they spend, with the bulk of their revenue going to operational expenses. Mortgage payments eat up the bulk of the money, averaging 46% of income, while 27% goes toward maintenance, insurance and utilities.
Supreme Court Declines to Hear Rent Control Case
by Dees Stribling
The Supreme Court declined to hear a case from New York state that would have effects on rent control laws. Two groups of multifamily owners challenged the 2019 law in the hopes of having it overturned. Studies have repeatedly shown that rent control produces the opposite intended effect.
Read the article in Bisnow
Multifamily Developers Grapple with Pervasive Challenges
by MFE Staff
The efforts of multifamily developers are being stunted by construction delays, financing challenges and the economics of projects, according to a report by the National Multifamily Housing Council. Most of the delays are in permitting, which were reported by 79% of respondents.
Read the article in Multifamily Executive