LMC, a wholly owned subsidiary of Lennar Corporation and a leader in apartment development and management, today announced it has been recognized as the eighth-largest developer of multifamily housing, according to the National Multifamily Housing Council’s 2021 Top 50 Developers list.
The off-site package management solution for apartment communities, Fetch, has surpassed the 5 million mark in direct-to-door package deliveries nationwide. The milestone illustrates not only Fetch’s exponential growth, but also the continuation of e-commerce’s influence.
By this I mean operators too often think of implementing solutions as an either/or scenario: should we offer guided tours or self-guided tours? Should we have prospects interact with chatbots or leasing agents over the phone? The answer in these situations is almost always “both.”
Survey data indicates that an overwhelming 71% of residents support charging higher pet fees for irresponsible pet ownership. This includes failure to pick up after pets and repeated off-leash instances. It also factors in pet misbehavior, such as incessant barking and aggressive behavior.
This week’s top multifamily storylines: study shows more renters moved in 2020 despite the pandemic, the complexity of apartment companies requiring vaccines, average rent due to exceed $6K for those behind on rent, LeaseLock hits $1B in leases insured, Lincoln gets ready to acquire Excelsior Multifamily and affordable housing set to get a boost from Biden’s infrastructure plan.
Short-term rentals for multifamily are proving to be resilient through the pandemic and beyond with revenue-share based models emerging as the best approach. And the demand for flexible, furnished rentals is accelerating, making STRs a must-have for many apartment operators.
The top multifamily headlines this week: COVID’s impact on rent varies by neighborhood, the most common mistakes of a smart home retrofit for multifamily, smart access control provides assistance during pandemic, the top markets for apartment net absorption, the extension of the federal eviction moratorium and the strength of affordable housing lending.
The insurtech start-up LeaseLock is breaking new ground. The company has officially surpassed $1 billion in leases insured, an impressive milestone that comes only five months after the company achieved $500 million in leases insured.
The retrofit process requires careful consideration and planning. While the cost savings and improvements made possible through smart home implementation are attractive, missteps in deployment could result in unnecessary expense and performance problems.
Among this week’s most interesting multifamily storylines: utilizing tech without sacrificing personal connections, reflecting on multifamily’s COVID-19 response, package solutions that might be causing more problems, a look back at the last decade of multifamily transactions, the apartment markets dominating the pandemic era, and amenity must haves as the lockdown ends.