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.
Industry Trends Report | Week of August 1
The top storylines in multifamily this week are using automation to help onsite teams, alternatives to security deposits, the importance of cybersecurity, student housing making a comeback, LMC becomes Quarterra Multifamily and creating a better apartment search.
LeaseLock Hits $1B Milestone in Record Time
The insurtech start-up LeaseLock is breaking new ground. The company has officially surpassed $1 billion in leases insured, an impressive milestone that comes only five months after the company achieved $500 million in leases insured.
Changing Tides: Why Multifamily is Moving Away from Surety Bonds
For operators, security deposits are a major administrative hassle, and often provide inadequate defense against rent loss and damages—a challenge which has been exacerbated by economic uncertainty during the COVID-19 pandemic. Deposits present a significant financial burden.
Security Deposit Legislation — Are We Finally Solving The Problem?
Deposit-related legislation has taken on a new dimension. Governments are passing bills that move away from costly deposits completely. A Cincinnati law says that if an operator requires a security deposit, a deposit alternative or payment plan must likewise be offered.