All the multifamily news you need
The top storylines in multifamily this week are overcoming outsourcing fears, investment properties, parking problems and reputation, creating excellent customer experiences, lower energy consumption, marketing data points, top cities for job growth and when demolitions gain favor over conversions.
Parking issues significantly impact the reputation of multifamily communities. Poor parking experiences contribute to more than 11% of bad reviews, which can lower overall ratings and deter potential residents. Addressing parking challenges is difficult since expanding parking spaces is often impractical.
Consumers are hitting all sorts of review sites before they say 'go time' on a purchase. Given the importance placed upon reviews, the resident experience is one of the most important focuses for owners and operators. For many potential residents, this area will play an important role in…
When it comes to towing in multifamily communities, nobody wins — except the tow companies. For everyone else, there's zero upside. So, how do owners and operators change the game? By fixing parking and managing expectations, and ultimately improving the resident experience and net operating income.
The top storylines in multifamily this week are parking challenges, avoiding hurdles, resident retention, EV charging solutions, innovating while remembering the basics, creating new efficiencies, women's careers stalling in CRE, the Fed holds on interest rates and completions hit 50-year high.
HOV/toll lanes currently cover more than 5,500 miles of highways in the United States. These lanes put the power in the hands of drivers. Handing over control makes a big difference in cost perception, and it's a path that multifamily needs to follow for community parking.
Metropolitan areas are awash in parking, which gives the impression that no parking issues should exist at all. However, many metropolitan areas have made a 180-degree turn in their approach to parking, switching to parking maximums. This is creating an environment replete with challenges.
Zark announced today that it was a bronze winner of the Multi-Housing News 2023 Excellence Award in the category of Best Technology. The company was recognized for development of a cost-effective parking solution that benefits owners, onsite teams and residents.