All the multifamily news you need
There are numerous multifamily properties that can't even supply parking to all their residents, let alone offer dedicated guest parking. And shrinking parking ratios in multifamily are only exacerbating the problem. The only option is to find a solution that lets you optimize your parking spaces.
The top storylines in multifamily this week are the nuances of renewals, women in multifamily finance, training technology, the morphing prospect experience, benchmarking, maintenance training, affordable housing, the effect of apartment construction on rent growth and rent control.
As the lines between apartments and hotels become increasingly blurred, some owner-operators are leaping forward by offering properties with resort-class perks. Amenities such as concierge service, housekeeping, coffee service and more are beginning to make an appearance in multifamily communities.
Imagine how an apartment resident would respond if their community suddenly suspended its traditional morning coffee service at their leasing office. Lisa Tully-Tavian, CMO at Sentral, said for residents who chose not to renew, halting the free coffee was on the list.
Sentral, the leading full-service residential hospitality company, today announced that five Sentral communities were recognized in the 2022 Elite 1% ORA Power Rankings. The J Turner Research List measured 132,000 multifamily communities based on review site feedback and ILS data.
Amenities play a critical role in the success of a multifamily community. For current residents, they can make or break the decision to renew. Meanwhile, prospective residents will gravitate towards communities that offer amenities that cater to their varying lifestyles.
The top storylines in multifamily this week are portfolio evaluation for centralization, the importance of technology partners, driving resident retention, human-trafficking education, construction delays continue in multifamily and customizing renters insurance to increase compliance.
When crafting marketing plans and pushing to drive the performance of their portfolio, operators should not overlook current residents. They’ve already done the hard part and sparked their interest—now it’s just a matter of keeping them at the property.