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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.
The top storylines in multifamily this week are package delivery and theft, choosing a building name, compliance and live-in aides, the "social" of ESG, top ORM musts, how to approach SEO, office conversions rise in NYC, 33 million properties threatened by hurricanes and investment decline in multifamily.
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.
Younger generations, who are the primary drivers of the rental housing industry, now expect a living experience that delivers a new level of convenience and comfort. It may sound harsh, but renters may refuse to rent in a community that fails to adequately meet their tech preferences.
The top storylines in multifamily this week are the student housing outlook, modular in multifamily, residents who smoke, when to centralize, the best places for AI, ChatGPT and automation, L.A. City Council blocks some evictions, high interest rates and Colorado introduces maintenance regulations.
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 top storylines in multifamily this week are the post-holiday package rush, human trafficking, changing resident preferences, tech trends this year, naming communities to boost SEO, Cushman & Wakefield partners with Microsoft, the surge in rental fraud, source of income laws and cap rates.
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.