Owners and operators are always seeking ways to improve resident satisfaction and the drivers of that are the subject of continued debate. One avenue growing in popularity is resident rewards programs, with more than 92% of multifamily leaders at NAA’s 2024 Apartmentalize viewing it favorably. However, only 40% of them have implemented any type of rewards program. Among those that have, there’s been a 75% adoption rate and a 15% jump in on-time rent payments, making this a smart financial decision as well.
Harris vs. Trump: Where They Stand on Key Housing Issues
by Cindy Chetti
With the presidential election less than two months away, Democratic candidate Kamala Harris and Republican candidate Donald Trump are pushing policies that could significantly impact the multifamily industry. The National Multifamily Housing Council compares and contrasts the visions for housing and other issues from both sides.
The Most Efficient Way To Cool Might Be Under Your Feet
by Franco Faraudo
The key to efficiently cooling a building may not be through conditioning the air but using the Earth instead. Although the concept of heating and cooling through the ground has existed for almost eight decades, it’s largely been limited to large-scale structures. However, a multifamily community in Florida is using it to cool its 276 units.
Reputation management and online reviews can be a huge burden on time and resources. What’s known is that reviews have a direct impact on the renter’s decision to lease, renew and recommend a property. Katie Ritter, National Director for Multifamily at Widewail, and Cory Smith, VP at Zark Parking Solutions, unpack the 2024 Widewail Voice of the Resident Report and its valuable insights, including the most important amenities and features that affect online reviews.
The Dos and Don’ts of Email Marketing for Multifamily Brands
by Corina Stef
Emails are one of the most powerful marketing tools for multifamily communities but achieving maximum impact requires a well-crafted message. The most successful emails are targeted and personalized, and it’s important to send out the right number at the right time to avoid overwhelming and turning off prospects.
Revenue Management Legislation Continues the Trend
by Joe Riter
San Francisco Mayor London Breed recently signed the first local ordinance prohibiting the sale or use of any algorithmic devices that set, recommend or advise on rents or manage occupancy levels. The issue is a growing trend at the state and local levels. Eight other states, including Colorado and New York, are also considering regulations.
The Federal Reserve announced a 50-basis-point cut to the federal interest rate, bringing it to a range of 4.75% to 5%. This decision reflects the Fed’s increased confidence that inflation is moving towards its 2% target. The move comes after fluctuating market speculation and signals a shift in monetary policy, with potential impacts on borrowing costs and commercial real estate. The Fed, however, remains cautious about economic uncertainties and balancing its dual mandate of managing inflation and employment.
Multifamily housing completions surged in August to a multiyear high of 740,000 units, marking a 36.5% increase from the previous month. Despite this, multifamily housing starts decreased by 6.7%, while permit issuance rose. The shift highlights a complex landscape for development as completions accelerate while new project starts slow.
Remote work is coming to an end at Amazon, as the company announced it will require employees to return to the office five days per week starting Jan. 2. This shift reflects Amazon’s belief in the benefits of in-person work. Several large companies have mandated return-to-work policies over the last few years with varying levels of success.
