As prices continue to soar and inflation hits record highs, a staggering 78% of Americans are living paycheck to paycheck. That strain is especially felt in the multifamily space. According to The Census Bureau, nearly half of renters (49.7%)–representing over 21 million households–are classified as cost-burdened, meaning they spend more than 30% of their income on rent.For owners and operators, this poses a significant challenge. Financially str ...

As prices continue to soar and inflation hits record highs, a staggering 78% of Americans are living paycheck to paycheck. That strain is especially felt in the multifamily space. According to The Census Bureau, nearly half of renters (49.7%)–representing over 21 million households–are classified as cost-burdened, meaning they spend more than 30% of their income on rent. For owners and operators, this poses a significant challenge. Financially st ...

Losing a resident may seem like a small slip, but in reality, it's a heavy blow to any property. It's not just the empty unit—it's the ripple effect of lost revenue, turnover costs, and the challenge of finding new residents in an already saturated market. For operators, reducing the hefty costs tied to high turnover is no longer optional—it's a must. And one of the most effective strategies for doing this? Resident rewards programs, integrated w ...

And How Resident Reward Programs Can Address Them  The multifamily industry is facing a set of persistent challenges that have only intensified in recent years. Occupancy rates, resident satisfaction, digital adoption, and online reputation are key areas where success or failure can dramatically impact a property's performance. As these issues come to the forefront, resident rewards programs are emerging as a critical solution, not just a pa ...

When asked, many operators will say they only accept digital payments and their communities are 100% paperless. However, after further exploration, we realize there are many exceptions, such as past resident payments, residents in eviction status, or even new move-ins, where many site team members will accept a paper payment. The fact is that nearly half of renters still pay by check or money order. Ensuring a consistent revenue stream is fundame ...

Occupancy rates are ideal and residents are content, but there is still one problem – a number of residents perpetually fall behind on their rent payments each month. An October Census Household Pulse survey found that nearly 4.9 million households are behind on rent. This is an issue that has burdened the industry since its inception, leading to a unified goal of the multifamily sector – improve the rent collection process to reduce deli ...

In the evolving landscape of multifamily, apartment operators are constantly searching for innovative solutions that enhance resident satisfaction, boost occupancy rates and further drive NOI. One strategy that has proven to be extremely effective is the centralization of resident reward programs that offer unique incentives for positive resident behavior. With the popularity of loyalty programs rapidly gaining steam in other industries, it shou ...

Operators are always striving to create a better resident experience that has a lasting impact. For many, that begins with establishing quality relationships that benefit both themselves and the residents. While amenities have long been the cornerstone of a positive resident experience, operators are now looking to nontraditional features that cater to the modern renter as a way to increase renewals. Operators are beginning to shift their focus ...

In an ever-changing economy, financial challenges don't discriminate, affecting both residents and operators alike. From delinquent rent payments to inconsistent cash flow, economic trials create a ripple effect that greatly increases financial risks for operators. Economic challenges are inherent to any market or industry, and impact individuals across all social classes. For residents, it may be the loss of a job, volatile income, unexpected me ...