THOUGHT LEADERSHIP
How to Attract Pet-Owning Residents Through Marketing
by David Stunja
Dogs are so important to Gen Zers that 82% of them say pet-friendliness is a factor in their apartment search, according to a recent study by Cortland. To attract this valuable segment of renters, owners and operators need to utilize marketing and tours to show them that communities care as much about their pets as much as the owners do.
Read the article in The Multifamily Journal
Three Valuable Tips for Value-Add Rehabs
by Barbara Ballinger
The costs of rehabbing a multifamily community can be high, so it’s critical to understand which upgrades give you the best return on investment and whether it’s best to perform the work in phases or all at once. Also, remember that amenities are just as important as the units.
Branding Apartments By Multifamily Property Class
by Stacey Feeney
Effective marketing means knowing who your target audience is. Multifamily communities can’t use the same approach for a Class C property that they would for a Class A. It’s important that marketing teams be true to the community’s class, so prospects know what they’re renting.
MULTIFAMILY TECHNOLOGY
Managed Wi-Fi, Bulk Wi-Fi and Connectivity Infrastructure
by Doug Pike
One of the first things a resident wants when they move in is connectivity, and chances are they have more devices to connect than ever before. Communities can’t just throw up any type of Wi-Fi and expect residents to be happy. Knowing the difference between retail, managed and bulk Wi-Fi and how each works with specific properties will have your residents online in no time.
Read the article in NAA Industry Insider
Reimagining Resident Retention in the Modern Multifamily World
by Paul Willis
The multifamily industry puts a disproportionate focus on attracting new residents compared to keeping the people already there. Implementing technology that opens up more communication between residents and teams can increase renewal rates and boost net operating income.
Read the article in Multifamily Executive
Preparing for the Electric Vehicle Surge
by Gabriel Frank
The increase in EV sales could mean that multifamily will soon be facing a need for charging stations. Owners must also deal with states and municipalities placing mandates on the number of charging stations a community must have. So far, only about one-third are getting ready.
Read the article in Multi-Housing News
INDUSTRY NEWS
Grace Hill Unveils Winners of 2023 Impact Hero Awards
by Darcey Leach
Grace Hill announced the three winners of the 2023 Impact Hero Awards, which recognize multifamily employees committed to making a positive impact on their communities. The grand prize winner was Karen Schrah, managing director and senior vice president of Harbor Group Management Company, after turning the heartbreaking loss of her 16-year-old son, Zac, into helping thousands of Texas youth with heart screening.
Read the article in The Multifamily Journal
Apartments Record Demand Still Can’t Overcome Supply
by Richard Berger
The multifamily vacancy rate climbed 10 basis points to 7% with the Sun Belt market facing the largest imbalance. Demand for apartments in Q3 was 116,000, the highest since 2021, but supply came in at 140,000. It might be a while before the balance shifts with 554,000 units expected in Q4.
Read the article in GlobeSt
National Housing Conference: Affordability Crisis Deepens
by Christine Serlin
The news isn’t getting better for homebuilders as the National Housing Conference (NHC) reported that the affordability crisis is worsening. The NHC’s Paycheck to Paycheck database shows the income needed to afford a typically priced home rose by 11% compared to last year.
Read the article in Multifamily Executive