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The recent apartment construction boom is slowing as developers grapple with rising costs and tighter financial conditions. This trend reflects broader industry challenges today.Key Takeaways:Rising Costs: Higher interest rates and construction costs have made many projects financially unfeasible, pushing many plans back to the drawing board.Extended Delays: The average time between construction authorization and project start has increased by 45 ...
Is everyone seeing massive Waste Management increases? We used to be at $1200 per month for 3 dumpsters, 3 pick ups a week and 6 recycle cans. Now we are at just under $2600 per month. I called and they couldn’t offer an explanation other than everything has gone up and it is what it is. Yikes!
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WiFi is the foundation required for every community. From working and paying bills to streaming music and connecting with others digitally, WiFi is vital to many facets of an individual's life, especially where they reside. Community-wide WiFi has quickly become a necessity for modern apartment communities. Whether it's to streamline the leasing and maintenance processes or to enhance the resident and associate experience, WiFi is a prerequisite ...
I am needing some fresh new ideas on leasing specials for lease ups. Which have been the most successful for you?
For example, everyone and their cousin’s sister in DC has offered 2 months free on a 13 month lease for at least 10 years.
This might or is not the same in markets like Richmond, Va only 100 miles down the road.
Remember sub markets are different, too.
From there, I look at my resident profile and think what is the most appeasing to them. Does money motivate them to move or swanky give away/ move in packages. The fastest way to lease up is to know your audience.
I’ll give another example: I was a regional manager during the pandemic and my student properties were occupancy challenged due to the lack of students. We met with the city and had it rezoned to be co-living and not just student.
When the students could come back, we gave a year free on campus parking away for students. This was huge and helped us hit 98% within 60 days.
🎉 Poll Time: What’s Your Biggest Concern with AI in Multifamily? 🏢🤖
Hey, multifamily fam and insiders! As AI continues to make its way into our industry, it brings excitement and some burning questions. Kristi Fickert and I want to hear from you so cast your vote and drop your thoughts in the comments.
With Google's recent public launch of AI search, the online world is abuzz. This is exciting, but it also raises important questions for the housing industry, particularly regarding legal and fair housing concerns.
AI's Interpretation: How will AI handle conflicting terms in search results? Could this lead to inaccurate or misleading information?
Human Oversight: In a world of AI-generated content, will people actually read the results or rely solely on them without proper verification?
The Power of the Written Word: Traditionally, housing policies rely on written documentation. How can we ensure accuracy and compliance when the "writing" itself might be AI-generated and potentially flawed?
By proactively... Show more
The commercial real estate (CRE) brokerage industry is known for being a competitive and demanding workplace. You may think of pushy salespeople and incessant cold calls. However, what if I told you that there is another method to dominate the CRE market?The fact is that, in addition to sheer power, obtaining remarkable outcomes in CRE brokerage calls on concentration, commitment, and strategic planning.The purpose of this blog is not to minimize ...
Just need some clarification on how others explain qualifying income.
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Over the years, one of the most frequent complaints I hear from CIO/CTOs, COOs and CEOs is how the proliferation of proptech in the rental housing space often creates a rat’s nest of disparate tech solutions that rarely, if ever, integrate in a way that creates an easily manageable data ecosystem. For many years, I truly empathized with this challenge as I felt their pain and wished that vendors would do a better job at making lives e ...
In today's diverse and interconnected world, affinity groups play a crucial role in fostering inclusivity, support, and professional growth within various industries. In the multifamily housing sector, these groups are essential for building a more inclusive community, providing a platform for underrepresented voices, and promoting diversity at all levels of the industry.What is an Affinity Group?An affinity group is a group of individuals who co ...
How is this even a thing??
I’ve also been in the business a really long time and have watched fees and pet rent climb to the point people are punished for having a pet. No fee = Less Liars. I feel like the pet fees have become too high! We charge for damages anyway. We should all require renter’s insurance with an animal clause (pet or ESA) that covers any damage and get rid of the fee and just collect the nominal pet rent to cover the cost of pet bags throughout the community. We use Pooprint at registration and then charge a $200 fine for any dog waste - pet or ESA. They still have to follow the rules.
We are “depositing & Feeing” the residents too much!
Hi Everyone! I have a client who is struggling with a resident created Facebook group. This group has turned into a negative space where they just complain and now prospective residents are finding the page and cancelling their leases because of it. For reference, this community has 72 Google...
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1) Residents create Facebook groups usually because management hasn't provided a way for them to connect with their neighbors - e.g. via resident events or a resident app.
2) Residents complain when management hasn't created a forum for them to provide feedback - e.g. via regular resident surveys.
Trying to get the Facebook group shut down is a short sighted view in my view.
Imagine if your employer heard about employees connecting and raising concerns but their reaction was to shut it down. How would you feel about your employer?
In order to push Multifamily Insiders forward from a technology perspective, we have enlisted the help of technology leaders within the Insider community. We appreciate the time they are taking to guide us on several fronts to continually provide a better experience and enhanced programs. Ellen ThompsonCo-Founder & CEORespage ...
HELP. I took over a property and the staff is so unmotivated. I have tried having one on ones asking what support they needed, always making sure to come in everyday in good spirits, helping everyone with anything I can and it seems like no one wants to work or be there. I have even done team...
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OMGOSH!! If these were mine I am not sure I would every put these in my mouth again!
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12 JunEvent starts in:
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17 Jul
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