The top storylines in multifamily this week are offering the right amenities, maintenance retention, evolution of multifamily tech, the rise of sustainability, using TikTok in multifamily marketing, ChatGPT and lead generation and the hidden costs of chronic understaffing.
Grace Hill and iEmpathize explore the issue and expand education on human trafficking for members of the multifamily community. Grace Hill also released an e-book companion to the webinar that touches on the issue, the signs and what to do.
The top storylines in multifamily this week are building tenured multifamily teams, streamlining the application process, evictions and onsite teams, changing the perception of renters, GenZ’s effect on multifamily and pet policies to attract renters.
It appears that hiring and associate retention will dominate multifamily conversations for the year. Turnover rates for the industry were high even before the pandemic and the Great Resignation, but the current workforce landscape has left owner/operators scrambling to staff property teams.
Operators are taking unprecedented steps to combat the hiring and employee-retention challenges currently facing the industry. They need to not only take a closer look at overall associate satisfaction, but also work to identify and eliminate specific employee pain points.
When it comes to evictions, time is of the essence. Extensions, delays and restarts during the eviction process means lost revenue. To expedite evictions, avoid hiccups and keep delinquency time as low as possible, it’s crucial to know what is causing the delays.
The top storylines in multifamily this week are automation and human interaction in leasing, credit reporting and rent payments, healthy company culture, rising insurance premiums, automating evictions and the financial benefits of easing pet restrictions.
The top storylines in multifamily this week are the natural disaster threat, multifamily giving back to communities, successful property managers, threats to SunBelt affordability, asking prospective residents “why” and the SmartRent acquisition of SightPlan.
Evictions are as old as multifamily housing. Unfortunately, so is much of the technology that supports eviction practices. It is time for the industry to deploy modern systems and eviction solutions that save time and effort, and that limit the potential for errors and inconsistencies, and aid in debt recovery.
The multifamily industry has a turnover problem, but it’s not the resident turnover we primarily think of. The turnover problem is actually one that has been steadily growing for the last decade. Losing a property manager can take a huge transitional toll on how a community functions.