Multifamily Housing Industry Evolution,… September 15, 2020

It’s never been a better time to be a renter. What used to be considered a transition to homeownership has transformed into an attractive option for people of varying demographics. Those of us working in the industry have long understood the appeal of the rental lifestyle, but now, the statistics are finally catching up to reality. In a recent study, Pew Research Center declared that more American households were renting now than at any point during the past 50 years. What’s even more exciting than the volume of renters entering the market is the speed with which communities are evolving to meet the demands of today’s digitally-powered world. Apartments are no longer composed of standard floor plans with basic, come-to-be-expected amenities. Today’s communities are filled with smart home technology, hotel-like interiors, in-building retailers, and – believe it or not – there are even more exciting developments to note as we head into 2019. Ready to see what the future holds for our unique industry? Read on to learn about some of the most promising trends set to impact the multifamily housing sector in 2019. Data Will Continue to Evolve. Most of us already know why data is important. We use it to support strategic decisions, keep up with competitors, and run properties as efficiently as possible. Now, after years of hearing about big data, the tech industry will move toward its smaller counterpart. Small data, or the data gleaned from breaking big data into lesser pieces, is favored by analysts who prefer to review..

Telecommuting Renters: Top Tips… September 15, 2020

With technology use on the rise, many companies are transitioning from the typical office atmosphere to building teams that work remotely, often on a global scale. Add the growing renter demographics of Millennials and Gen-Z, who are at the forefront of this trend, and you’ve got a considerable shift in your targeted renter’s needs. Telecommuters have the ability to work when and where they want, and we, as an industry, need to accommodate them. Unfortunately for many telecommuters, most in-home workspaces are not conducive to productivity. They are plagued with the distractions associated with a home office, from families who fail to understand the concept of being “on the clock” to the obstacles that may accompany a lack of in-office interaction. Now more than ever, many remote workers are often faced with securing a workspace that actually works for them. Your community can no longer ignore the fact that working from home is on the rise. In fact, recent studies note an astounding 115 percent increase in telecommuting over the last decade. Since working remotely shows no sign of slowing down soon, it may be well worth your time to get ahead of the curve by embracing this increasingly popular work trend. Here are a few ways to appeal to the surge of telecommuting workers seeking spaces that support a positive work-life balance.  Offer Open Workspaces    While you may believe that your apartment community already offers a competitive selection of amenities, you may be surprised to learn that offering open workspaces could take your..

Five Ways You Can… September 15, 2020

If you’re looking to attract potential renters to your property, a good marketing strategy is obviously a no-brainer. Whether you’re seeking to keep current renters or draw new prospects, sometimes your results seem almost insulting to the time, effort, and money you sink into your respective campaigns. But, if you’ve already realized this, first off, congratulations are due. You’ve accomplished the first step: you realized your current strategies are not effective for one reason or another. No need to be discouraged! It’s on to the next one. But, before proceeding with full steam ahead, you have to ask yourself, where did it all go wrong? It may be best to sit down with your marketing team and figure out exactly where you missed the mark. Sometimes, it can be a complete strikeout, but other times, you’re simply missing a key element that can make all the difference. With some attention to detail and a little bit of determination, you can easily increase your residential occupancy with a comprehensive digital marketing strategy.Sure, recognizing that you went wrong in some aspect is the hardest part, but evaluating where your strategy went wrong can be just as difficult. With this in mind, MultifamilyBiz.com has compiled our top 5 suggestions for evaluating the wrong turn made during your current online marketing campaign.Your property lacks a social media presence.  is the all-star of the digital marketing game for many types of businesses, and your multifamily community is no exception. According to recent studies, at least 78 percent of Internet users in..

Apartment Community Maintenance Techs,… September 14, 2020

Austin, Texas, CXC TALENT SOLUTIONS - Apartment Maintenance positions AVAILABLE NOW! Apply today through a DIGITAL interview! CXC Interview Portal:  https://hire.li/c19f602 We have opened our digital interview portal, so any candidate can log in and record an introductory interview. This will allow us to practice social distancing and to be able to forward interviews to clients once they are ready to resume hiring. Please use this link and you can record your interview on any video enabled device. Call us ASAP!   972-835-3646 Founded by longtime multifamily industry insiders, CXC Talent Solutions has a simple mission: Cultivate long term and mutually rewarding relationships with the industry's most TALENTED PROFESSIONALS that want to pursue career opportunities with the BEST COMPANIES in the Apartment Industry! CXC Talent Solutions is currently seeking to hire IMMEDIATELY -- Assistant Maintenance/HVAC Certified, Make Ready in Austin, Texas. The ideal candidate will have experience completing all different maintenance tasks according and pertaining but not limited to each position. You must be highly organized, able to work on a team, be resident focused, and retain excellent communication skills. Individual must have a passion for quality and service. We are seeking to fill the following positions: - Maintenance Assistant / HVAC Techs - Make Ready/Maintenance Techs RESPONSIBILITIES: Ensure that the apartment community, structures, and equipment are in compliance with local codes and regulations. Assist in maintaining an inventory of adequate supplies and replacement parts and equipment by ensuring maintenance areas are neat and clean, and reporting shortages to supervisor. Diagnose heat problems and repair/replace components...

From Leasing to Leadership September 11, 2020

December 4, 2019By Les Shaver Improving retention requires providing new career paths for onsite professionals. Find out how organizations and staffers can create these roles. Kristi Fickert, NALP, Vice President, Marketing and Training, at 30 Lines, sees a big issue facing the apartment industry. “Lack of modernistic training that focuses on today's progressive tools and strategies is one of the big challenges we see right now,” she said at the Apartmentalize session “From Leasing to Leadership: Mapping a Path to Career Success” this past June in Denver. Add this to what, in many cases, is an outdated career path for onsite associates and it’s easy to see why Fickert says turnover in the apartment industry is at 33 percent. That means that, on average, when someone leaves, it costs more than $2,000 to replace them. Getting onsite staffers to stay requires providing training, a career path, mentorship and a strong onboarding program that creates a good first impression. “When you hire someone, their résumé is still out there and there could be late job leads that come in [after they’re hired],” Fickert says. “If your onboarding doesn’t make a good first impression, you could lose them.” Once those onsite staffers are on board, a company can give them the skills they need for success through a mentorship program. “But even if you have a great mentorship program, it doesn’t guarantee a great mentor,” says Daniel Melton, Senior Director of Business Analytics at Village Green. However, there are ways to help your mentorship program succeed. “You..

Onboarding During a Pandemic September 11, 2020

May 8, 2020By Les Shaver One company relies on technology, peer pressure to acclimate new employees. As the COVID-19 pandemic gripped the nation, many companies laid off and furloughed employees. Edgewood and Vantage Management, which operates 200 affordable and market-rate multi-family residential communities in 10 states plus the District of Columbia, weren’t among that group. Instead, the firm was adding to its 900-person workforce nationwide. Approximately 90 percent of these associates work onsite. “Our hiring has not slowed down,” says Jason Salamon, Senior Vice President of Human Resources for Edgewood and Vantage. “We are one of those essential businesses with thousands of residents needing us to take care of the property that they call home. So, we continue to recruit and run the onboarding and new hire orientation welcome that comes along with that.” Onboarding presents a greater challenge in this era of closed offices and social distancing. Salamon says Edgewood and Vantage’s community managers are great at training new associates when they arrive onsite. Still, the company has a centralized onboarding program to teach new hires the fundamentals about the organization, service culture and systems. Tools like GoToMeeting, Zoom, Skype and FaceTime allow the company’s teams to “put a face with the name and be able to substitute ‘in-person’ with a different form of ‘face-to-face’.” Virtual training requires coordination, but the company already had a learning management system and virtual contingencies in place. While that was an asset, Salamon and their learning and development facilitators lost the opportunity to shake hands and work the..

The Future of Property… September 11, 2020

September 2, 2020 Long before the COVID-19 pandemic, businesses across all industries were transitioning digital processes to streamline operations and provide a better customer experience. But over the past six months, we’ve seen a rapid acceleration in the adoption of technology, especially in property management. What used to be a ‘nice to have’ is now a ‘must have’ for doing business, and as a result property management companies have had to quickly adapt and evolve.  In a conducted by AppFolio, 46% of property management companies cited “adopting new technology” as a top way they were preparing their business for the future. How have you pivoted your business strategy to continue to serve your residents, drive lead conversion, and maintain continuity? Throughout this disruptive time, it’s likely you had to adapt and find creative solutions in order to continue to attract new renters and keep your current residents satisfied.  Leasing Tools for the New Normal Leasing demand took a hard hit during the initial onset of the pandemic. Based on internal AppFolio data, leasing demand dropped to 62% of projected lead volume from March 16-20, the same week that the DOW Jones experienced the largest point drop in history. However, by the end of April, leasing demand had fully recovered to match and even exceed projections. If you don’t already have tools that allow you to conduct your leasing flow remotely, then now is the time to implement technology that enables a virtual experience. Prospects expect to be able to interact with your team virtually, and..

Four Steps For Hiring… September 10, 2020

“When you hire the best, the rest is easy!” We have heard this phrase many times, but how do we put this concept into action? We know that hiring the best people is vital to the success of your business, especially for fast growing businesses. And certainly, your customers and clients have high service expectations. So…how do you hire and keep the very best? Let’s start from the beginning. The job description: Often overlooked, the job description sets the tone for success when hiring new team members. Start by making certain your job descriptions are accurate, up-to-date and reflect your expectations. This is an important step, as it ensures consistency in your hiring practices and says your company is well run. Tip From The Coach: During the initial interview, be certain to present the job description, so the applicant will have a clear picture of your expectations if your company does hire them. This also helps to generate a more comprehensive conversation regarding the position being offered. The interview game plan: Prepare a detailed interview game plan, to be used by each person doing the interviewing for your company. This game plan must include: how to evaluate a resume, sample questions to be asked during the interview process, a detailed presentation of compensation, how to do reference checks, and any final hiring details (i.e. company benefits, policy and procedures, etc.). Tip From The Coach: In addition to the in-person interview, consider the use of written tests and/or assessments to aid in your hiring process. This..

Five Fast Ways You… September 9, 2020

If you’re looking to attract potential renters to your property, a good marketing strategy is obviously a no-brainer. Whether you’re seeking to keep current renters or draw new prospects, sometimes your results seem almost insulting to the time, effort, and money you sink into your respective campaigns. But, if you’ve already realized this, first off, congratulations are due. You’ve accomplished the first step: you realized your current strategies are not effective for one reason or another. No need to be discouraged! It’s on to the next one. But, before proceeding with full steam ahead, you have to ask yourself, where did it all go wrong? It may be best to sit down with your marketing team and figure out exactly where you missed the mark. Sometimes, it can be a complete strikeout, but other times, you’re simply missing a key element that can make all the difference. With some attention to detail and a little bit of determination, you can easily increase your residential occupancy with a comprehensive digital marketing strategy.Sure, recognizing that you went wrong in some aspect is the hardest part, but evaluating where your strategy went wrong can be just as difficult. With this in mind, MultifamilyBiz.com has compiled our top 5 suggestions for evaluating the wrong turn made during your current online marketing campaign.Your property lacks a social media presence.  is the all-star of the digital marketing game for many types of businesses, and your multifamily community is no exception. According to recent studies, at least 78 percent of Internet users in..

Five Quickly Evolving Multifamily… September 9, 2020

It’s never been a better time to be a renter. What used to be considered a transition to homeownership has transformed into an attractive option for people of varying demographics. Those of us working in the industry have long understood the appeal of the rental lifestyle, but now, the statistics are finally catching up to reality. In a recent study, Pew Research Center declared that more American households were renting now than at any point during the past 50 years. What’s even more exciting than the volume of renters entering the market is the speed with which communities are evolving to meet the demands of today’s digitally-powered world. Apartments are no longer composed of standard floor plans with basic, come-to-be-expected amenities. Today’s communities are filled with smart home technology, hotel-like interiors, in-building retailers, and – believe it or not – there are even more exciting developments to note as we head into 2019. Ready to see what the future holds for our unique industry? Read on to learn about some of the most promising trends set to impact the multifamily housing sector in 2019. Data Will Continue to Evolve. Most of us already know why data is important. We use it to support strategic decisions, keep up with competitors, and run properties as efficiently as possible. Now, after years of hearing about big data, the tech industry will move toward its smaller counterpart. Small data, or the data gleaned from breaking big data into lesser pieces, is favored by analysts who prefer to review..