Industry News | Wk of July 23
HOT & RELEVANT TOPICS
Make Sure Your Technology Rolls Out Successfully
Rolling out new technology is always an exciting time and represents a proactive approach for an apartment community. Being eager is natural, but a hasty approach can increase the chances of a rocky beginning. A trial run is recommended to avoid disruption, and that starts with identifying resident needs and properly vetting vendors to implement the technology. After gaining buy-in from the onsite team and training them, it’s time to conduct a true pilot study before rolling out the new tech. Read Les Shaver’s article in UNITS Magazine.
Utilizing Apps to Improve Amenity Reservations
Sticky notes and reservation binders are convenient. They are also remarkably inefficient. As apartment communities get inundated with requests to reserve the clubhouse, pool and other common-area amenities this summer, many of those are being scribbled on the aforementioned paper products. Double bookings and misplaced reservations become commonplace, which is why a mobile app is the better way to go for community events. It’s an example of how resident-centric technologies can be just as valuable as those that benefit the operations side. Read Nikole Loveless’ article in Multi-Housing News.
Progress Being Made on Multifamily Diversity Issues, Gables CEO Says
The apartment industry has made headway in its quest to improve its record of diversity and inclusion. But according to Sue Ansel, CEO for Gables Residential, more can be done. Also part of the National Multifamily Housing Council’s Diversity and Inclusion Committee, Gables notes that it’s a smart business strategy to have the diversity that reflects your base of customers and associates. Despite the efforts, research by Multifamily Executive indicates the percentage of women and minorities in leadership roles at multifamily and commercial real estate companies remains below 20 percent. Read Kerry Curry’s article in Bisnow Dallas-Fort Worth.
IN THE NEWS
The Top Seven Markets For Garden-Style Construction
Less than 30 percent of apartments slated to open in 2018 fall into the garden category, but that doesn’t mean they’ve been phased out. In fact, they are still very much in need because they are generally more affordable for renters, but new development has been focused on luxury mid-rise and high-rise structures. Texas seems immune to this trend, as three of the top garden-centric markets are based in the state (No. 1 Austin, No. 2 San Antonio and No. 6 Dallas). Others on the list included Columbus, Ohio, Kansas City, Mo., Raleigh, N.C. (Nos. 3-5, respectively) and No. 7 North New Jersey. Read Bendix Anderson’s article in National Real Estate Investor.
Research: MF Development Has Bigger Impact on Schools Than Believed
According to research by Rutgers Business School, municipalities might need to increase their expectations on how multifamily development will affect their schools. Many municipalities across the country use a one-size-fits-all model in determining the potential impact of new apartments. Rutgers specifically focused on the impact of multifamily development on New Jersey school-capacity needs and discovered the number of school-aged kids strongly correlates to household income, product density and age of the building. High-rise buildings produce less demand for school capacity because fewer families with school-age children rent them. Read Steve Lubetkin’s article on GlobeSt.com.
Report: Trump Immigration Policies Could Put Nearly 100,000 Construction Workers At Risk Of Deportation
Already experiencing a shortage due to several years of accelerated growth, the construction industry could absorb another hit under the Trump administration’s immigration policy ambitions. The President ended the Deferred Action for Childhood Arrivals in September, but must still overcome legal hurdles and congressional debates. Eleven percent of those enrolled in DACA are construction workers, which accounts 41,300 of the workforce. Another 50,300 construction workers are in the country under Temporary Protected Status, which Trump is also trying to abolish. Read Matthew Rothstein’s article in Bisnow Philadelphia.