The high turnover rate in Multifamily isn’t going away anytime soon, but some organizations do a much better job of mitigating it than others.
Owners, managers, and underwriters have been watching Lease fraud steadily rise across the multifamily industry for many years. Forbes estimates multifamily businesses are losing as much as $1000 per unit to fraud each year.
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.
In this post we are going to look at a variety of publish statistics from 2022 in relation to customer support response times and communication channels. The insights we draw will be obvious, but are summarized at the end of the post.
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.