Multifamily owners and operators have been put to the test like never before due to the pandemic-induced economic fallout. Pegasus Residential recently announced it would expand into new markets like Denver and Salt Lake City, with the company already managing more than 33,000 units across 40 markets.
It’s often the attention to the little things that keeps everything on an even keel at apartment communities. Residents depend on seemingly minor conveniences to help them stick to their daily routines. They build dependencies on those services that have been ingrained into our daily structure.
Workplaces and educational institutions previously provided the materials and equipment required to conduct business or schooling. Now, residents are increasingly turning to their communities to help facilitate those necessary functions, especially printing.
This week’s top multifamily news includes: work-from-home’s impact on resident needs, continued confidence in multifamily housing fundamentals, contactless package management, diversity and inclusion in multifamily, the year-end multifamily buying spree and workforce housing development.
When asked which apartment amenities would best accommodate their current needs, 50% of respondents listed printing services – second only to faster internet options (54.5%). On an overall value scale, respondents rated faster internet service and printer/copier/scanner services almost equally.
Among the top storylines in multifamily housing this week: reevaluating the contactless community hype, reassessing data-sharing processes, the benefits of eliminating breed restrictions, middle-income housing opportunities, apartment investors mulling distressed mall opportunity and apartment values on the rebound.
Proponents for eliminating breed restrictions argue that pets should be evaluated on an individual basis rather than any preexisting characteristic. Fortunately, tech advances have made it easier to track past behavior of the pet and its owner, which can assist community teams in the evaluation process.
Inside this issue: modern package management and customer service, preparing for compound disasters, data integration, millions fleeing major cities in pandemic, Jacksonville’s shipping container apartments and the future of urban parking due to Covid.
Ever since the pandemic began, we’ve heard a lot of talk about “contactless” apartment communities. Apartment operators want to make sure their communities are as safe as possible to prevent the spread of the coronavirus and to make sure residents and visiting prospects feel safe.
There are a number of differentiators in multifamily that owners and property managers lean on to promote their properties. Location, amenities, technology, services and square footage all come at a premium. But with all else being equal, the tipping point is customer service.