The multifamily space is laden with rules and regulations. And with a new government administration in office, multifamily managers are fighting to bring attention to their issues. In order to better understand the lay of the land, we’ve outlined the hot-topic issues.
PLANO, TX FEBRUARY 9, 2017
Picking the best property management software isn’t easy. The process of finding the perfect software for your property management company can be challenging with misleading advertising and high-pressured sales to overpriced platforms claiming “one size fits all.” In today’s market, this is a red flag. One size fits all doesn’t work well with clothes, and it certainly won’t work well with your property management software.
We live in a world where choices are all around us. We enjoy the freedom of choice in our day-to-day and rarely think twice about it. We have the flexibility to choose how we like to shop (in person or online), we have options for unlimited apps on our smartphones, and we even get to choose our operating systems. While we may not revel in the advantages of not being locked into one method, store, or mindset, we surely enjoy it.
As part of the day to day processes in affordable housing, the applicant interview or the subsequent annual interviews are one of the most important parts. These interviews ensure your resident or prospective resident qualifies to live on your property. There are several aspects of the process that may need brushing up on, however. We will cover a couple points below.
Young professionals thrive on innovation and imagining new ideas or solutions in the workforce. These young and eager professionals in the workforce have an entrepreneurial mindset, where they bring new methods and concepts to the table. In the multifamily industry, this is a huge plus because the demographics of residential living are constantly changing. Allowing these young professionals to become intrapreneurials at the property level is a key component to industry growth and evolution.
We often talk about how the demographic shift impacts multifamily in terms of rental changes, but what many people don’t realize is that this growth in diversity impacts the multifamily workforce as well. An industry reflective of it’s audience, multifamily employers have seen growth in millennials and minorities in the workplace, as well as a growth of women in leadership roles — and we can only expect these changes to continue.
‘Tis the season! The holiday months are among us, which means colder weather, residents heading home for the holidays, and maintenance teams dealing with the unexpected. While you can’t plan for everything, it’s best to get ahead on the things you can plan for. We’ve previously shared How to Manage Your Property Management Team During Busy Season, now we’re outlining a few tips to help property managers keep up with the winter season!
With such a saturated market to compete in, many multifamily properties are challenged with finding unique methods to attract today’s renter. Everything from dog-friendly complexes to shared spaces and tech-focused amenities helps properties achieve a competitive advantage.
Digital connections are vital for success in the modern world. Access to internet has become so ingrained in societal function that those without that access can be at a significant disadvantage. Connectivity is a fundamental for work, school, and even future success — over 90% of college applications are now filed online. Yet families with a median household income of $34,800 are five times less likely to have broadband access than those in the upper fifth of median household income per the Center for Public Integrity.