All the multifamily news you need
Multifamily's top storylines this week are the improving leasing environment, fewer vendors doesn't mean fewer issues, rethinking pet-friendly, new hires for Quarterra and CAPREIT, 21st Century ROAD to Housing Act, SmartRent launches virtual intercom, amentiy copy and SEO and keeping aging buildings safe.
The American Pet Products Association indicates that 71% of U.S. households own a pet, while research by the Pew Research Center found that an overwhelming majority of pet owners, 97%, consider their pets part of the family to some extent. These trends have major implications for rental housing.
Multifamily's top storylines this week are preleasing begins at Mill Creek's Modera Walsh Heights, rent growth hits a floor, rent control gains momentum with local governments, courting pet owners, brokerages, renting to sole proprietors, running a community n AI, solar barriers and creative's effect on leases.
Pet-friendliness is one of the ultimate differentiators at rental communities, and the difference is obvious the moment you walk a truly pet-inclusive property. Communities that embrace this reality benefit from stronger renewal rates, more engaged residents and an environment that feels welcoming to a wider pool of renters.
Ultimately, survey data reveals that pet-friendly properties carry the benefits of increased resident satisfaction and robust renewal rates among other results. Respondents acknowledge the accompanying challenges as well. Fortunately, the industry is more primed than ever to address any potential issues related to pet-friendliness.
The top storylines in multifamily this week are amenity fees vs. junk fees, navigating pet-friendly communities, halloween event ideas, the surge in deliveries and package management, bridging the digital divide, Grace Hill'a 2024 Impact Hero Winners, older adults flock to senior housing and rent growth to rise in…
Simply allowing pets is a solid start to attracting today’s renters. Reducing or eliminating breed and weight restrictions is even better. But as part of an effort to increase pet-friendliness at apartment communities, operators must address another key facet—promoting responsible pet ownership.
Apartment communities have become very creative when it comes to keeping their current residents. Soft renewal-rate increases, promises of more resident events, the implementation of cutting-edge smart home features, property upgrades, and flexible lease terms are among the items offered.