All the multifamily news you need
Multifamily operators go all out to foster a festive environment during the holidays. But how many apartment communities take steps to mitigate security issues that could put a damper on the holiday spirit? One of the primary sources of resident complaints around the holidays is package management.
The top storylines in multifamily this week are modern incentives, mistakes for PMs to avoid, what Star Wars can teach about multifamily, updating operations, artificial intelligence, shareable EVs, reframing multifamily management, insurance woes and California caps security deposits.
Grace Hill has expanded the Commercial Kingsley Excellence Awards, adding an Elite 5 and 100% Club to their awards line-up. These awards will recognize the efforts of commercial real estate owners and operators who excel in the area of tenant satisfaction.
Regardless of what type of commercial real estate you manage, improvements to tenant satisfaction are central to a healthy bottom line. There is quantifiable evidence of a direct correlation between the contentment of tenants and renewal rates, and higher gross and effective rents.
The top storylines in multifamily this week are apartment transactions, pressure on PMs to maintain profits, residential conversions, maintenance centralization, paths to efficiency, tips for effective reputation management, home-buying pessimism and the Fed unleashes a 10th interest rate hike.
It is no surprise that when the market slows down, multifamily operators typically compensate with cost-cutting measures to bolster their margins. While cutting back and finding efficiencies can help companies stay profitable, the belt tightening may ultimately hurt owners both in the short and long run.
David Deitz, co-founder and president of Birchstone Residential, is a big believer in using a strengths-based culture to build a company. Multifamily Executive recently got a chance to talk with Deitz about the benefits and impact of such a culture.
During a recent Apartments on the Go podcast, Sentral Vice President of Asset Management and Transition, Julie Butler, sat down with hosts Matt Ruedlinger and Courtney Smith to discuss Sentral’s revolutionary hospitality approach to property management.