THOUGHT LEADERSHIP
E-Commence: One Thing We Can’t Control and One We Can
by Amber Hammond
The $6 trillion global e-commerce market currently makes up a little over 16% of retail sales in the U.S. with that figure expected to jump to almost 21% by 2027. Multifamily communities face an unprecedented challenge. The once-simple task of receiving a package has transformed into a complex logistical operation that can overwhelm onsite teams and diminish the resident experience. Multifamily can sink under the weight of packages or ride the wave of innovation to new heights of resident service and operational excellence.
Read the article in The Multifamily Journal
Drawing the Line: 5 Ways to Set Boundaries in the Workplace
by Stephanie Anderson
The nature of property management often requires managers to be on call around the clock, but this doesn’t mean they should be available 24/7. Setting boundaries starts by defining to the leasing team the hours the PM will be available. This is followed by delegation, communication and embracing the power of “no.
Dealing with Maintenance Issues and Substitute Housing
by Brad Kraus
The resident relationship naturally has its ups and downs. Anyone who has ever lived in a house knows that things inevitably break down and need repairs. Owners and operators can soon find themselves facing unreasonable monetary demands for even the tiniest of inconveniences. Fortunately, there’s a legal way to push back on claims.
MULTIFAMILY TECHNOLOGY
Parking Problems? 3 Steps to Rev Up Resident Satisfaction
by Todd Katler
Resident happiness can make or break a community. More than 30% of residential communities suffer from parking pains, so it’s a no-brainer to proactively address these parking pitfalls and steer toward smoother satisfaction rates. During planning and budget season, when the weight of cost-intensive solutions feels heavy, three steps can solve parking without additional investment.
Read the article in The Multifamily Journal
AI: Streamlining Operations and Enhancing Decision-Making
by Adina Rogoz
More than just a tool, AI is transforming operations, decision-making and the resident experience. Property managers, investors and developers are discovering AI’s potential to revolutionize property management and resident engagement. By viewing it as a partner, operators can unlock new levels of efficiency and innovation.
The Latest Multifamily Wellness Amenity: Medical Services
by Nick Pipitone
The demand for wellness amenities is reaching critical mass across all property types. Concierge medical revenue will increase by 10.4 percent annually through 2030. With the worsening national shortage of primary care doctors and waitlists growing longer, more Americans are willing to pay for the privilege of concierge care.
INDUSTRY NEWS
Stable Rents, Higher Wages Improving Apartment Affordability
by Kristen Smithberg
With rent growth slowing down and wages on the rise, the gap between income and rental costs is narrowing. This trend is particularly beneficial for renters in major urban markets that have long struggled with affordability challenges. The article also notes that while affordability is improving, concerns remain about rising interest rates and their potential long-term effects on housing demand and development.
Inflation At 3-Year Low In Final Data Drop Before Fed Meeting
by Ryan Wangman
Inflation has reached its lowest point in three years, just ahead of the Federal Reserve’s upcoming policy meeting next week. With inflation dropping to 3.7%, this trend could influence the Fed’s decisions on interest rates. The consumer price index went up by 2.5% in August from a year ago, with 70% of this attributed to housing costs
Freddie Mac Appoints Diana Reid as CEO
by Christine Serlin
Real estate and financial services industry veteran Diana Reid has been named CEO of Freddie Mac. She has more than four decades of experience in banking, real estate and capital markets, as well as affordable housing. Reid said she wants to expand the company’s contributions in liquidity, stability and affordability in housing.