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Imagine finding your dream apartment but then being rejected by an Artificial intelligence (AI) algorithm with a hidden bias. This reality is the potential downside of AI in multifamily real estate housing. Fueled by the success of ChatGPT, a wave of new AI services like Gemini and Jasper are flooding the market. With an estimated… Read More »
Creating a community residents love is crucial to the ongoing success and profitability of rental housing. Every property manager wants satisfied residents, which involves more than just collecting rent. Many renters today are looking for a property that can offer a comfortable and healthy environment, along with modern amenities. As competition tightens, multifamily property managers… Read More »
Nearly four years after the brief but severe COVID-19 recession in the spring of 2020, the U.S. jobs market remains exceptionally strong. The balance of power is firmly tilted toward workers — with little sign of a recession that might swing the power pendulum back to employers. With the national unemployment rate hovering near 50-year… Read More »
HR departments find that “stay interviews” – those conducted with current employees to gauge the gratification they see in their positions – can be the perfect antidote to exit interviews. Given the surge in job-hopping, particularly post-pandemic, companies say that stay interviews are helping to reduce turnover while increasing production and satisfaction among workers. As… Read More »
In a recent L.E.K. survey, 86% of property management execs rated employee credentials “very important.”
A new generation of technology is coming to property management. Building engineers have increasingly implemented smart building technology to improve energy efficiency and sustainability. Now, the application of artificial intelligence (AI) stands to greatly enhance those efforts — and extend the technology to other aspects of property operations. The timing is opportune. As we summarized… Read More »
Change is inevitable, especially in the fast-paced world of multifamily real estate. However, as companies eagerly embrace transformative initiatives, a significant challenge emerges — change burnout. With constant shifts in market dynamics, technology, and customer expectations, this phenomenon is a growing concern in the industry, and it can have profound consequences on the performance and well-being of… Read More »
In “Increasing Tenant Satisfaction – and ROI – Through Superior Service Delivery”, I explained that “the key to keeping buildings leased is to make sure tenants are happy.” The reason is intuitive and now has been proven quantitatively: Satisfied tenants are more likely to renew their leases. They are also more likely to recommend the… Read More »
Proven and effective, competitive mystery shops help you surpass the competition, boost your bottom line, and increase resident satisfaction. In the fiercely competitive world of multifamily apartment management, staying ahead of the curve is essential, hinging not only on providing well-maintained properties and exceptional amenities but also on understanding and surpassing the expectations of potential… Read More »
Kris Vaughn’s Journey With Breast Cancer October is here, and my mind is filled with the memories of my recent journey with breast cancer. It has been exactly one year since I received the news that no one wants to hear. I can still remember that day, faced with the realization that my life was… Read More »
Excluding children or pregnant women from a property or from any area other residents are allowed to use within the property could be discrimination.
A Q&A With Traveling Facilities Operations Specialist: Erica Counts Sometimes, life comes full circle and reminds you how small the world can be. While traveling to an industry event recently, I had a nostalgic encounter when I ran into an old friend from high school. Twenty years after graduation, Erica Counts and I were… Read More »