Podcast Summary 001 - What follows is a summarization of a great episode of the Multifamily Matters podcast. This is Episode 283, “Transform or Be Left Behind - Adapting and Thriving in the New Age of Multifamily”, and is available at the link below. In this post we break down the discussions in the episode and extract key points and lessons so they can be applied to your Multifamily business.
When residents are upset it can be challenging for onsite staff. Difficulties arise for all sorts of reasons during the course of resident life and it is enevitable that property offices will need to handle upset, angry, and disgruntled residents from time to time.
The key to customer service, and the driver of customer satisfaction and long term positive experiences. Empathy is the way your staff and your properties relate and engage with your prospects and residents. It’s the way you make your prospects feel important, and your residents feel valued and considered. Below, we will explore empathy in the context of online technologies, and their utilization by Multifamily communities.
Multifamily rental housing as a whole showed a** 3.3% loss in year over year NOI per unit**, according to the National Apartment Association, in 2021. This marked the first downturn in over a decade, and shines a light on many areas that drive costs for multifamily properties.
Amenities in your communities and units are some of the biggest drivers of occupancy. Prospects carefully consider the amenities offered and how they will effect their lifestyle, comfort, enjoyment, and bottom-line of moving into your communities.