The cliche line, Multifamily is slow to change… on the heels of 2024 our industry I see we need to continue to embrace the change that is needed. I recently asked the Multifamily Insiders Linkedin Group what they saw as the area's we needed to focus on and Staff came in first with 55% agreeing. Lisa Russell shared her perspective digging into three specific areas.

She shares the following:

1. Digital Transformation: Property management has been slower to adapt to technological changes compared to other industries. Digitizing property management by implementing technologies like AI, machine learning, and robotics could streamline operations, improve efficiency, and save costs.

2. Resident Experience: There's a need for a renewed focus on resident experience. This could be achieved by providing seamless communication channels, quicker response times, and personalized services.

3. Staff Training: Emphasize on ongoing staff training to adapt to new tools and technologies to ensure the workforce is equipped to handle the evolving industry changes. Change management is a vital strategic process needed over the next 5 years.

I absolutely agree with all three of these and believe these all actually tie together. I firmly believe that it all starts with outstanding training. Industry onsite team's need continuous training. We as an industry need to invest and focus on our team's need for training. When we invest in our teams onsite they grow personally and professionally, they feel valued, invested in and will continue to deliver an outstanding customer experience. Now staff training needs to involve tech training and we shouldn't ever lose sight or reduce the training available for team members around technology. Everyone learns differently which really means we should be adding trainers to our corporate teams. In some regards, we need personalized trainers who are experts in specific software or areas of the business. Technology doesn't make things easier in some regards, sometimes there are more hiccups in making sure technology all works together. (just like we need to personalize our customers experience)

I recently heard from a former executive of a top NMHC company that between 2020 and 2022, about two dozen new technologies were launched! Everything from self-guided touring, video touring widget, smart home access control, rent reporting, alternative insurance + deposit programs, flexible rent payments, digital asset management tool, more sophisticated reputation management, virtual leasing assistants, virtual events app for residents, contact centers, and the list goes on.

She went on to say, not all of those directly impacted onsite team members, however, that was absolutely a huge consideration - a number of tools did, and that was really difficult for everyone to shoulder during COVID. So much change across the org, from leadership and business continuity / safety, on down to remote work and managing new technology platforms for onsite teams. The last 3 years have really taken it out of everyone.

How can we rethink, invest in our onsite teams and cultivate a culture where we all can embrace new technology to better service our employees

Understanding that scenario was a little over a year ago, and we are still struggling with onsite turn, training, implementing new technology etc. We must focus on our staff and train them with intention. If we as an industry can embrace the digital transformation which includes finding the right marriage of AI to HI (Human Intelligence), we can increase the resident experience. It all starts with investing and training our employees.