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.
Property managers need a package solution that consolidates package services and drastically reduces the number of delivery personnel who require access to the property on a daily basis. By limiting foot traffic in and out of the building, operators can also limit the potential for exposure.
The impact of pets on resident satisfaction, fixing the package overflow problem, what Porsche can teach us about property management, getting buildings ready for a Covid winter, the never ending rent control battle and the impact of Covid on renters vs. homeowners make up this week’s multifamily industry headlines.
Fetch, an off-site package solution for multifamily communities, predicts that the onslaught of packages will be a lasting effect of the pandemic. Year-over-year package numbers increased by 39% in March and 48% in April, but then skyrocketed 58% in May and 63% in June.
With more residents spending more time at home during the pandemic, and fewer venturing out to the store for basic supplies, operators have been faced with a flood of packages that has made every week feel like the holiday rush, turning every day into Parcel Armageddon.
Of the countless ways COVID-19 has impacted the multifamily industry, one of the most lasting effects may be package volume. As brick-and-mortar stores temporarily closed and consumers became hesitant to venture out, renters increasingly turned to online shopping.
The growing package problem, mass timber adoption for multifamily community development, the value of pet data, falling rents in major metros, surging lumber prices and NMHC’s take on the affordability crisis make up this week’s top headlines.
From June of 2019 to June 2020, package volume per unit at multifamily communities increased by 59%. In May, renters at those properties averaged more than 10 package deliveries per apartment home, surpassing online holiday shopping levels from 2019.