Taken as a whole, the multifamily industry isn’t exactly known for moving with lightning-fast speed to implement new technology and processes. But in 2020, operators across the country had to do just that. Managers had to turn on a dime and find new ways to serve prospects and residents.
There are still strategies for developing a competitive edge. Operators who have been able to think along nontraditional lines have reaped the rewards, and some have managed to drive revenue and establish a competitive advantage in their markets thanks to an innovative approach.
It has become readily apparent that housing providers don’t have the luxury of playing the waiting game until things return to normal. Business as usual isn’t coming anytime soon, which has forced industry leaders to adjust on the fly and modify longstanding processes.