THOUGHT LEADERSHIP
Retaining Residents: It’s All About Giving Them Choices
by Kevin Murphy
Retention is about more than convincing residents to stay. Property managers might overlook the changing needs of residents during their lease term, such as a change in lifestyle that requires more space. To encourage renewals, owners and operators need to be flexible and provide residents with choices that go beyond keeping them in their current homes.
Read the article in The Multifamily Journal
ESG is Changing the Multifamily Real Estate Landscape
by Thomas Stanchak
Prioritizing ESG has reached a critical juncture in the multifamily industry as demands for the practice come from multiple directions, including investors, employees and residents. Owners and operators can embrace the changes now or face the possibility of playing catch-up later.
Equipping Residents With Emergency Response Plans
by Tara Smiley
Communities can face any number of disasters, both natural and man-made. Since the industry has been so adept at making checklists and plans regarding how companies should handle emergencies, it’s time to share that knowledge with residents and teach them the proper responses.
MULTIFAMILY TECHNOLOGY
Centralization: The Tech That Matters No Matter Your Definition
by Andrew Ruhland
Resident preferences and demands are the driving force behind the growth of technology and the need for centralization. Today’s renters want a tech-driven experience, and selecting the correct technology for your situation is key to making centralization work and having a beneficial impact on residents and prospects.
Read the article in NAA Operations Insights
MHN Executive Council: Data-Based Decisions
by Jessica Fiur
Technology has made it possible to track and gather data on just about anything you want. So, what are the most important things to track? The MHN Executive Council talks about the importance of KPIs, cost estimates, text-based communication and website traffic.
Read the article in Multi-Housing News
Technology Investments to Reduce Burnout and Turnover
by Lindsey Smith
In 2022, property management companies saw a turnover rate of 33%, which is 10% higher than the national average. This revolving door of employees can have a large negative impact. Investing in artificial intelligence solutions can help improve retention rates.
Read the article in Multifamily Insiders
INDUSTRY NEWS
Operational Efficiency Top Industry Challenge for Property Managers
by Christine Serlin
Operational efficiencies are the biggest challenge for multifamily, according to the National Apartment Association’s 2023 Property Management Industry Pulse. Approximately 76% of respondents said efficiency was the most pressing issue in the face of rising utility costs and insurance premiums, as well as increases in property taxes.
Read the article in Multifamily Executive
Here’s Why Deals Will Increase in Q4
by Richard Berger
As interest rate increases have slowed in terms of frequency and size, the disconnect between buyers and sellers has started to wane. The decreasing uncertainty means both sides are finding more common ground, which sets up a strong finish for transactions in the final quarter of 2023.
Read the article in GlobeSt
Economists Distort the Record on Rent Regulations
by National Multifamily Housing Council
A recent letter from a group of economists purportedly showed support for rent control and stated that it produced a net positive. However, an examination of the sources cited in the letter, which has been annotated by NMHC, showed that many had the exact opposite conclusion.
Read the article in NMHC