Industry News | Wk of May 21
HOT & RELEVANT TOPICS
Shared Housing Startups Eager To Be The Next Big Thing In Residential
With the rising prevalence of home sharing, startups are beginning to sprout up to meet the demand. The trend, which is relegated to expensive large-scale markets such as New York and San Francisco as it gains traction, typically involves smaller dwellings, more flexible lease options and high-touch services. An example of a fledgling startup is California-based HubHaus, which rents rooms, matches roommates and plans events. New York-based Roam matches renters with short-term apartments around the world based on what they might pay for an apartment in one place. Read Dees Stribling’s article in Bisnow National.
Oculus Go Is the $200 Headset That Could Make You Try VR
As virtual reality devices become more prominent, it has become apparent that they need an engine to power them. Cables. Smartphones. Gaming PCs. But Facebook-owned Oculus Go requires none of the above, which is a large step in the right direction according to David Pierce. While devices like Oculus Go and Lenovo’s Mirage Solo don’t offer the opportunity to play intense games, they are fantastic for casual use, such as watching a movie from home or TV in the park. Read Pierce’s article in The Wall Street Journal.
Escaping the Crossfire
It’s a subject a community manager never wants to think about, but in the current climate, it’s a necessity. Active threats – such as a gunman – can occur anywhere, and having a plan in place can save lives. Some apartment communities have hired instructors with police and security backgrounds to impart tips to residents in an active-threat situation. Several apartment associations are holding classes and training sessions on the topic, and the Apartmentalize conference is offering a two-hour deep dive next month hosted by Officer Derwin Bradley of the Orlando Police Dept. Read Paul R. Bergeron III’s article in units.
IN THE NEWS
Kingsley: National Resident Satisfaction Rises to 4-Year High
Resident satisfaction levels vaulted to the highest total in the past four years, as 77 percent of renters reported overall satisfaction with their living experience in Q1. That’s according to a Kingsley Associates survey spanning approximately four million apartment homes. Resident satisfaction has been trending upwards the past three years, and about 1 percent of renters indicated they were more satisfied than a year ago. The biggest variance with that metric occurred in Denver, where 2.6 percent of residents reported that they were more satisfied than the previous year. Read Kingsley Associates’ breakdown of the data in Multifamily Executive.
Search and Social: The Newest Marketing Power Couple
As the apartment industry clamors to catch up to the technology curve, marketing efforts are becoming more streamlined. While many marketing teams concentrate on search-based campaigns such as Internet Listing Services, those campaigns seldom align with the company’s social media efforts. Commonly, search and social campaigns are implemented by different departments altogether. Aligning the two creates a smoother campaign, and more importantly, ensures the renter journey to finding a home is not fragmented. Read John Thornton’s ViewPoint in Multi-Housing News.
Apartment Market Weathers the Storm
of New Supply
While apartment operators cannot raise rents like they have become accustomed to over the past few years, rents are projected to keep growing in some capacity into 2019. With the influx of new apartment communities opening across the country, vacancy rates are inching upwards, limiting the ability to raise rents significantly. Strong demand has helped offset any true downturn, however. Victor Canalog, chief economist of data firm Reis Inc., believes that barring a recession, apartment fundamentals will likely weather this storm of new supply. Read Bendix Anderson’s article in National Real Estate Investor.