All the multifamily news you need
The top storylines in multifamily this week are e-commerce and the package surge, setting workplace boundaries, maintenance issues and substitute housing, parking and resident satisfaction, using AI to streamline, medical services as an amenity, apartment affordability, inflation at three-year low and Freddie Mac's new CEO.
The front door has become the new point of sale, and e-commerce has experienced unwavering growth. 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.
The multifamily housing industry faces a growing challenge during peak leasing season — package theft. As more residents move into communities and online shopping continues to surge, the volume of packages has also attracted opportunistic thieves.
Multifamily communities experience a surge in activity during the peak leasing season. This chaos can also lead to higher incidences of package theft. In 2023, approximately 119 million packages valued at $8 billion were stolen from residences, with 32% of these thefts occurring in apartment settings.
The benefits of a third-party package management solution may not be greater anywhere than in student housing. The revolving student population, short-term leases and high package volume create challenges beyond the typical issues faced at traditional multifamily communities.
The 2023 holiday season witnessed a significant uptick in online retail sales. As the new year unfolds, property managers find themselves at the forefront of managing the aftermath — another surge in package deliveries pushed further by heightened demand for essential and practical purchases.
A true sense of "home" is often elusive for renters, who typically view their residence as temporary, but establishing that feeling of belonging is essential to a positive living experience. It's frequently created through a greater connection of community and interpersonal connection.
Fetch announced the opportunity for immediate rollout of its offsite package solution before the holiday e-commerce crunch. Last year, Fetch clients saw a nearly 20% increase in package volume during November and December, compared to the same period in 2021.