Industry News | Wk of April 9
HOT & RELEVANT TOPICS
Youngster Aims to Solve Recycling Problem for Property Managers Nationwide
When it comes to recycling, 50 percent of Americans say they will throw waste away in the trash if they’re unsure whether or not the items can be recycled. Waste diversion is a growing issue within multifamily. With enhanced focus on both local and state regulatory requirements for recycling, the apartment industry is feeling the impacts. But seven-year-old Ryan Hickman has a passion for recycling, and he’s traveling all over the country with Valet Living to educate both property managers and residents alike on recycling awareness and proper practices for fostering a green community. Read more in units Magazine.
Keeping Your Onsite Associates in the Fold
Every apartment owner/operator wants their communities to staff cohesive, successful onsite teams that stay together long-term. Yet, that’s rarely how things in this industry pan out. With a staggering onsite turnover rate at 50 percent, industry experts offer key advice on how to keep quality onsite associates in the fold, from offering a competitive market-based salary to creating a clear path to career advancement and promotions. Read Morgan Dzak’s article on Multi-Housing News.
The Thing About the Internet of Things (IoT)
As apartment operators strive to become more tech-savvy and incorporate the Internet of Things into their communities, they first must distinguish between facilities IoT and apartment IoT. The latter refers to smart-home devices typically used by residents and serve more along the lines of convenience. Facilities IoT could have a more pronounced impact on a company’s bottom line, however, and include items like hot-water heaters, leak-detection systems, condensers and package lockers. Read Henry Pye’s article in units Magazine.
IN THE NEWS
Developer Readies 60-Story Condo Tower For Flying Cars
If air taxis eventually become a reality, a Miami development will be fully prepared. Paramount Miami Worldcenter, a 500-unit tower being developed by Royal Palms Cos., is incorporating a sky tower with amenities that will be flexible enough to be repurposed. The swimming pool will have a hydraulic lift and a space designed to be an observatory can transform to sky lobby. There is even room for a doorman to help residents get to and from their air taxis. Currently, more than 10 companies are aiming to develop flying cars. Read Dees Stribling’s article in Bisnow National.
Rents Drop for 1-Bedrooms, Grow for 2-Bedrooms
Demand for larger apartment homes is on the rise as families show an increased propensity to rent. Average rent prices for one-bedroom units in the U.S. fell 8.9 percent while prices for two-bedroom units increased by 1.1 percent, according to the April 2018 Zumper National Rent Report. But in some of the nation’s top rental markets, such as San Francisco, New York and San Jose, one-bedroom rent prices remained flat in April while two-bedroom rents increased. Read Lauren Shanesy’s article on Multifamily Executive.
Multifamily Developers Want Robust, Vital Downtowns
Even as new development continues to shift to the suburbs, a downtown component remains a priority for developers and renters. While near-direct access to transit hubs is part of the equation, towns with newly built downtown areas of their own are attracting multifamily projects. This attracts a renter profile that often works from home wants luxury conveniences without having to commute to the larger downtown area. The amenities they crave often include conference rooms where they can conduct their own meetings. Read Brian J. Rogal’s article on GlobeSt.com.