All the multifamily news you need
The top storylines in multifamily this week are the difference between pet-friendly and pet-inclusive, rebranding in 2023, centralization preferences and playbooks, the changing rules of operating efficiency, upcoming trends and tech and the best metros to make money in multifamily.
While most rental housing operators do allow some pets, there is clearly a significant disconnect between operators and pet-owning renters. There are very simple reasons for this disconnect: abundant breed restrictions, significant size and pets-per-unit restrictions, and ever-increasing pet fees.
To attract and retain pet lovers, forward-thinking operators are taking a wide-ranging approach that includes the elimination of breed and weight restrictions, the installation of onsite pet amenities and the support of animal organizations in the community.
The top storylines in multifamily this week are boosting renewals with automation, strategies for community building, the importance of reliable connectivity, multifamily construction continues to increase, the future of leasing tech and becoming pet-inclusive.
Perhaps one of the most positive developments in the rental-housing industry over the past decade is the increased focus on pet-friendly communities. Operators understand the importance—and benefits—of better catering to pet owners and have begun to create less-rigid policies.
TMG dropped its breed and weight restrictions in 2019, while also adopting pet technology for screening and waste, increasing pet services and amenities, and creating a more welcoming atmosphere for pets, even inviting them on tours. TMG has seen the occupancy of units with pets jump to 70%…
PetScreening, a first-of-its-kind screening platform that empowers property managers to outsource their pet risk assessment and assistance animal validation processes at no charge, today announced the launch of FidoAlert.com (for dogs) and TabbyAlert.com (for cats).
Lifting breed and weight restrictions for our four-legged friends and generally becoming more pet-inclusive can create significant financial gain for multifamily communities, such as increased NOI and higher resident-retention rates.