While the typical industry reaction to rent growth decline is to batten down the hatches, operators are finding that focusing on resident renewals and identifying new NOI strategies within day-to-day operations better positions them to weather the storm.
The top storylines in multifamily this week are ESG reporting, pet-centric amenities, combatting rent growth loss with revenue recovery, pet tech, selecting proptech, ChatGPT and real estate, the dying American Dream, popular amenities and government lending.
When faced with delinquent renters, owner/operators and onsite teams can face up to four stages of revenue recovery. The quicker each stage is addressed, the quicker it may be resolved. Early and automated communication with the resident is key to achieving success, and recovering lost revenue.
The top storylines in multifamily this week are revenue recovery, pet waste, vacancy rates, FCC broadband rule, community connectivity and ESG frameworks.