As properties clamor to meet prospects in their comfort zone, an often-overlooked component is that of generational preferences. To be fair, the industry hasn’t purely disregarded the topic, as it readily acknowledges that the types of communication preferences might vary.
The top storylines in multifamily this week are the prospect journey, hurricane preparation, dog breed myths, incentive optimization, rental property tours, pet proptech, providing the human connection, mental health issues increasing in multifamily and the effect of student debt on leasing.
Prospective renters are routinely able to readily access self-guided in-person tours, virtual tours, 3D walkthroughs and online applications to maximize convenience and minimize the need for interactions with onsite associates. In addition, chatbots allow prospects to get answers to their questions 24/7.
The top storylines in multifamily this week are renewal automation, investing in the future, wellness in building design, the evolution of the prospect journey, sight maps and self-guided tours, proptech, leasing power shifts to residents, rent control and the Fed holds on interest rate hike.
The prospect journey has morphed, contorted, and then changed even more over the past decade. It has shifted pronouncedly even when just considering the past few years. Odds are the journey will shift even further within another five years.