As multifamily operators search for alternative operational models to combat labor shortages and the rising costs of property management, centralization has become increasingly popular. But operators looking to make the transition to a centralized model need to ensure they have the necessary technology tools in place to support the move. Because the intent of centralization…
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If, like me, you’ve spent a lot of years working in revenue management, you will be familiar with the reality that from time to time, you have to defend what you do for a living. We find ourselves in just such a situation, as a recent article published by ProPublica: “Rent Going Up? One Company’s…
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Sustainable communities and environmentally friendly business practices are gaining traction in multifamily, as renters and investors alike are increasingly targeting green developments and management. While many management companies have responded by deploying energy-saving solutions, the reality is a collective effort is required by the industry to move the needle in terms of sustainability. Devices, consumer…
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It’s the most wonderful time of year—Snickerspalooza! (Halloween.) I’m sure you have lots of fun things planned for your residents. And that’s great. There are many benefits of celebrating Halloween at your multifamily community. You’ll get great social media content, you’ll get good word of mouth from your residents, all that. But why should the…
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Amid unyielding inflation and rising borrowing costs, consumers are starting to cut spending, mostly on big-ticket items.
The 30-year fixed mortgage rate rose to 6.92% from 6.66% the previous week. While inflation remains elevated, mortgage rates will continue to move up, making homeownership even further out of reach for many.
On July 27, 2022, from 12:00–1:00 p.m. Eastern, NAR held its virtual Real Estate Forecast Summit: Residential Update event, which provided an outlook on the residential market.
Job gains continued in September 2022 with a solid 263,000 net new additions and the unemployment rate is tight at 3.5%.
With so many changes occurring in multifamily leasing and management, owner/operators are seeking ways to meet the challenges of shifting consumer tastes, ongoing hiring and retention issues and maximizing revenues. Centralization is the next natural step in the industry’s continued modernization, offering a path to effectively manage prospects, teams and assets while optimizing their use…
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When I conducted the interviews for this year’s 20 for 20 White Paper, ESG (Environment, Social and Governance) was an unsurprisingly common theme. Based on the 20 conversations with senior executives, it seemed that ESG was becoming a driver in many decisions, including technology implementations. At the time, I noted that while the influence was big,…
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