An entrepreneur's origin story about their adventure from idea to success is one of my favorite parts of the multifamily industry, and I had the distinct pleasure of interviewing Konrad Koczwara, Founder and CEO of Elevated Living, to hear his story. Elevated Living is an Elite demo presenter during the upcoming Multifamily Demo Day, and you can see their service in action by regi ...
We audited one of our student housing portfolios a few months back (about 12 properties), and identified ~$50,000-70,000 / year in bloated ad spend. If you are looking to do the same and potentially cut ad spend, read on…We started by implementing a CRM to track things like lead source, and lead stage in the pipeline. Powerful optimizations begin with good data. Once we'd collected a year's worth of data, we were able to do some actual analysis o ...
I have a client wanting to reduce fraud. (Isn’t everyone!)
I’ve used Checkpoint ID but had complaints with them manually verifying id’s (they did nothing) and the app not working when scanning id’s. Is there a good alternative?
Thinking of going with Snappt for POI verification. Are they the...
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This is very interesting article, in my opinion. I would imagine that most in this group would tackle things differently than Vienna, but the reality is that there are some very strong alignments, such as understanding that affordability is a supply-driven situation and that we need more development in many markets. For example:𝐴𝑛𝑜𝑡ℎ𝑒𝑟 𝑘𝑒𝑦 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑐𝑒 𝑖𝑠 𝑡ℎ𝑒 𝑤𝑎𝑦 𝑉𝑖𝑒𝑛𝑛𝑎 𝑐ℎ𝑜𝑜𝑠𝑒𝑠 𝑡𝑜 𝑠𝑝𝑒𝑛𝑑 𝑖𝑡𝑠 𝑎𝑛𝑛𝑢𝑎𝑙 ℎ𝑜𝑢𝑠𝑖𝑛𝑔 𝑏𝑢𝑑𝑔𝑒𝑡. 𝑀𝑜𝑠𝑡 𝑜𝑓 𝑖𝑡 𝑔𝑜𝑒𝑠 𝑖𝑛𝑡𝑜 𝑠𝑢𝑏𝑠𝑖𝑑𝑖𝑠𝑖𝑛𝑔...This is very interesting article, in my opinion. I would imagine that most in this group would tackle things differently than Vienna, but the reality is that there are some very strong alignments, such as understanding that affordability is a supply-driven situation and that we need more development in many markets. For example:𝐴𝑛𝑜𝑡ℎ𝑒𝑟 𝑘𝑒𝑦 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑐𝑒 𝑖𝑠 𝑡ℎ𝑒 𝑤𝑎𝑦 𝑉𝑖𝑒𝑛𝑛𝑎 𝑐ℎ𝑜𝑜𝑠𝑒𝑠 𝑡𝑜 𝑠𝑝𝑒𝑛𝑑 𝑖𝑡𝑠 𝑎𝑛𝑛𝑢𝑎𝑙 ℎ𝑜𝑢𝑠𝑖𝑛𝑔 𝑏𝑢𝑑𝑔𝑒𝑡. 𝑀𝑜𝑠𝑡 𝑜𝑓 𝑖𝑡 𝑔𝑜𝑒𝑠 𝑖𝑛𝑡𝑜 𝑠𝑢𝑏𝑠𝑖𝑑𝑖𝑠𝑖𝑛𝑔 𝑐𝑜𝑛𝑠𝑡𝑟𝑢𝑐𝑡𝑖𝑜𝑛, 𝑤ℎ𝑒𝑟𝑒𝑎𝑠 𝑖𝑛 𝑡ℎ𝑒 𝑈𝑆 𝑖𝑡 𝑚𝑜𝑠𝑡𝑙𝑦 𝑔𝑜𝑒𝑠 𝑡𝑜 𝑑𝑖𝑟𝑒𝑐𝑡𝑙𝑦 𝑠𝑢𝑏𝑠𝑖𝑑𝑖𝑠𝑖𝑛𝑔 𝑟𝑒𝑠𝑖𝑑𝑒𝑛𝑡𝑠 𝑡ℎ𝑟𝑜𝑢𝑔ℎ 𝑣𝑜𝑢𝑐ℎ𝑒𝑟𝑠 𝑎𝑛𝑑 ℎ𝑜𝑢𝑠𝑖𝑛𝑔 𝑏𝑒𝑛𝑒𝑓𝑖𝑡 𝑠𝑐ℎ𝑒𝑚𝑒𝑠. 𝐼𝑛 𝑜𝑡ℎ𝑒𝑟 𝑤𝑜𝑟𝑑𝑠, 𝑉𝑖𝑒𝑛𝑛𝑎 𝑓𝑜𝑐𝑢𝑠𝑒𝑠 𝑜𝑛 𝑠𝑢𝑝𝑝𝑙𝑦 𝑤ℎ𝑒𝑟𝑒𝑎𝑠 𝑡ℎ𝑒 𝑈𝑆 𝑓𝑜𝑐𝑢𝑠𝑒𝑠 𝑜𝑛 𝑑𝑒𝑚𝑎𝑛𝑑. “𝐼’𝑑 𝑙𝑜𝑣𝑒 𝑠𝑜𝑚𝑒𝑜𝑛𝑒 𝑡𝑜 𝑑𝑜 𝑎 𝑐𝑎𝑙𝑐𝑢𝑙𝑎𝑡𝑖𝑜𝑛 𝑜𝑓 ℎ𝑜𝑤 𝑚𝑢𝑐ℎ 𝑡ℎ𝑒 𝑈𝑆 𝑖𝑠 𝑠𝑝𝑒𝑛𝑑𝑖𝑛𝑔 𝑜𝑛 ℎ𝑜𝑢𝑠𝑖𝑛𝑔 𝑣𝑜𝑢𝑐ℎ𝑒𝑟𝑠 𝑛𝑎𝑡𝑖𝑜𝑛𝑤𝑖𝑑𝑒 𝑎𝑛𝑑 𝑠𝑒𝑒 𝑤ℎ𝑒𝑡ℎ𝑒𝑟 𝑠𝑜𝑚𝑒 𝑜𝑓 𝑡ℎ𝑖𝑠 𝑚𝑜𝑛𝑒𝑦 𝑐𝑜𝑢𝑙𝑑 𝑏𝑒 𝑡𝑟𝑎𝑛𝑠𝑓𝑒𝑟𝑟𝑒𝑑 𝑖𝑛𝑡𝑜 𝑏𝑢𝑖𝑙𝑑𝑖𝑛𝑔 𝑛𝑒𝑤 ℎ𝑜𝑚𝑒𝑠 𝑖𝑛𝑠𝑡𝑒𝑎𝑑,” 𝑠𝑎𝑖𝑑 𝐷𝑎𝑣𝑖𝑠, 𝑡ℎ𝑒 𝑆𝑎𝑛𝑡𝑎 𝑀𝑜𝑛𝑖𝑐𝑎 𝑐𝑖𝑡𝑦 𝑐𝑜𝑢𝑛𝑐𝑖𝑙𝑚𝑒𝑚𝑏𝑒𝑟.
Also, it has a strong focus on multifamily to ease the housing crisis:
𝑇ℎ𝑒𝑟𝑒 𝑎𝑟𝑒 𝑠𝑜𝑚𝑒 𝑜𝑏𝑣𝑖𝑜𝑢𝑠 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑐𝑒𝑠. 𝑉𝑖𝑒𝑛𝑛𝑎 𝑖𝑠 𝑑𝑒𝑛𝑠𝑒𝑙𝑦 𝑏𝑢𝑖𝑙𝑡, 𝑤𝑖𝑡ℎ 𝑡ℎ𝑒 𝑚𝑎𝑗𝑜𝑟𝑖𝑡𝑦 𝑜𝑓 𝑟𝑒𝑠𝑖𝑑𝑒𝑛𝑡𝑠 𝑙𝑖𝑣𝑖𝑛𝑔 𝑖𝑛 𝑟𝑒𝑙𝑎𝑡𝑖𝑣𝑒𝑙𝑦 𝑠𝑚𝑎𝑙𝑙 𝑎𝑝𝑎𝑟𝑡𝑚𝑒𝑛𝑡𝑠 𝑤𝑖𝑡ℎ𝑖𝑛 𝑒𝑎𝑠𝑦 𝑑𝑖𝑠𝑡𝑎𝑛𝑐𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑐𝑖𝑡𝑦 𝑐𝑒𝑛𝑡𝑟𝑒. 𝑀𝑜𝑠𝑡 𝑉𝑖𝑒𝑛𝑛𝑒𝑠𝑒 𝑎𝑟𝑒 𝑟𝑒𝑛𝑡𝑒𝑟𝑠, 𝑎𝑛𝑑 𝑢𝑠𝑒 𝑡ℎ𝑒 𝑤𝑒𝑙𝑙-𝑐𝑜𝑛𝑛𝑒𝑐𝑡𝑒𝑑 𝑝𝑢𝑏𝑙𝑖𝑐 𝑡𝑟𝑎𝑛𝑠𝑝𝑜𝑟𝑡 𝑠𝑦𝑠𝑡𝑒𝑚 𝑡𝑜 𝑚𝑜𝑣𝑒 𝑎𝑟𝑜𝑢𝑛𝑑. 𝑀𝑜𝑠𝑡 𝐶𝑎𝑙𝑖𝑓𝑜𝑟𝑛𝑖𝑎𝑛𝑠 𝑙𝑖𝑣𝑒 𝑖𝑛 𝑜𝑤𝑛𝑒𝑟-𝑜𝑐𝑐𝑢𝑝𝑖𝑒𝑑 𝑠𝑖𝑛𝑔𝑙𝑒-𝑓𝑎𝑚𝑖𝑙𝑦 ℎ𝑜𝑚𝑒𝑠 𝑖𝑛 𝑡ℎ𝑒 𝑠𝑢𝑏𝑢𝑟𝑏𝑠. 𝑃𝑢𝑏𝑙𝑖𝑐 𝑡𝑟𝑎𝑛𝑠𝑝𝑜𝑟𝑡𝑎𝑡𝑖𝑜𝑛 𝑠𝑦𝑠𝑡𝑒𝑚𝑠 𝑎𝑟𝑒 𝑢𝑛𝑑𝑒𝑟𝑓𝑢𝑛𝑑𝑒𝑑, 𝑎𝑛𝑑 𝑚𝑜𝑠𝑡 𝑟𝑒𝑠𝑖𝑑𝑒𝑛𝑡𝑠 𝑢𝑠𝑒 𝑡ℎ𝑒𝑖𝑟 𝑐𝑎𝑟 𝑡𝑜 𝑡𝑟𝑎𝑣𝑒𝑙.
Lastly, here is an interesting take on how they approach NIMBYism:
Tℎ𝑒𝑦 ℎ𝑎𝑑 ℎ𝑒𝑙𝑑 𝑢𝑝 𝑡𝑜 20 𝑚𝑒𝑒𝑡𝑖𝑛𝑔𝑠 𝑖𝑛 𝑡ℎ𝑒 𝑛𝑒𝑎𝑟𝑏𝑦 𝑣𝑖𝑙𝑙𝑎𝑔𝑒𝑠 𝑏𝑒𝑓𝑜𝑟𝑒 𝑡ℎ𝑒𝑦 𝑏𝑒𝑔𝑎𝑛 𝑐𝑜𝑛𝑠𝑡𝑟𝑢𝑐𝑡𝑖𝑜𝑛. “𝑊𝑒 𝑑𝑖𝑑 𝑡ℎ𝑖𝑠 𝑡𝑜 𝑖𝑛𝑓𝑜𝑟𝑚 𝑟𝑒𝑠𝑖𝑑𝑒𝑛𝑡𝑠 𝑜𝑓 𝑜𝑢𝑟 𝑝𝑙𝑎𝑛𝑠 𝑎𝑛𝑑 𝑎𝑠𝑘 𝑡ℎ𝑒𝑚 ℎ𝑜𝑤 𝑤𝑒 𝑐𝑜𝑢𝑙𝑑 𝑚𝑎𝑘𝑒 𝑖𝑡 𝑚𝑜𝑟𝑒 𝑎𝑐𝑐𝑒𝑝𝑡𝑎𝑏𝑙𝑒 𝑡𝑜 𝑡ℎ𝑒𝑚. 𝐵𝑢𝑡 𝑤𝑒 𝑑𝑖𝑑 𝑛𝑜𝑡 𝑎𝑠𝑘 𝑡ℎ𝑒𝑖𝑟 𝑝𝑒𝑟𝑚𝑖𝑠𝑠𝑖𝑜𝑛.”
So while the implementation would be different than ours, many goals seem to align with our industry. Rather than let these municipalities try to take over development like Vienna, instead realize that we have some very common overall goals and find ways to create public-private partnerships to achieve these goals in a multifamily industry-friendly way.
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Housing costs and homelessness are on the rise in California. In the Austrian capital, people of all income levels live in subsidised housing – and…
Do you know where your data comes from? Not all data is the same. How it's pulled can result in varying (and potentially unpredictable) outcomes–one of the more unpleasant being private data sharing. Using ethically sourced data ensures compliance and precision in your comp reporting and market surveys. Unlike private and semi-private data, market insights from ethical sources are clean, accurate, and unassociated with antitrust litigations. Own ...
Security remains a paramount concern for management and ownership groups alike in this quarter's Multifamily Crime Poll. Let's delve into the key findings and uncover what they mean for property security strategies.Package Theft: On the RiseOne of the standout revelations from our latest poll is the prevalence of package theft. A significant portion of respondents—60.9% to be precise—reported that package theft either increased or surged signific ...
The multifamily space is undergoing a rapid evolution and transformation fueled by tech-based features and services that require seamless WiFi connectivity. From self-guided tours and digital payment solutions to smart-home technologies and remote work capabilities, a reliable internet connection is critical. However, delivering end-to-end connectivity involves more than simply setting up routers and access points. It demands a comprehensive appr ...
We have predominantly Spanish communities, and looking for recommendations on apps/ tools you all use to translate for prospects/residents for those of us who are not bilingual?
:::LEASE UP QUESTION::: How do you put urgency to submit that app on the guest?? We do a decent job already with things like $99 reduced fees for look and lease, but looking for other unique tactics. We are a luxury building. The homes really sell themselves. Just wanting to do even better!
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Friends - I need your expertise. ‼️ Is it onsite or on-site when referring to property management? Hyphen or no hyphen? 🚨 Merriam Webster says on-site should be hyphenated. The Cambridge dictionary includes onsite (without the hyphen) and on-site (hyphenated), while the American Heritage dictionary only lists onsite (no hyphen).
According to Forbes, 83% of companies that believe customer satisfaction is vital to doing business experience a growth in revenue. In fact, brands that prioritize providing a top-tier customer experience see 5.7 times more revenue than those that do not. Multifamily operators also know the true value of resident satisfaction and its impact on retention and attracting new renters. Although it is impossible to please all residents all of the time, ...
Needing to hire a floating leasing consultant. Before the hire is done, I’d like to iron out the schedule and bonus structure. How does you company handle bonus structure for floaters?
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One of the biggest benefits of apartment living is maintaining a resident's apartment. Residents don't have to try to find a contractor, don't have to wade through reviews, don't have to price shop, and don't even have to alter their schedule to be there while their problem is fixed. But do we do a great job of showcasing that value beyond saying, "we provide maintenance"? Tony Sousa recently wrote, "Maintenance is your ...
Recommendation: Does anyone have an app they recommend for tracking mileage? Any feedback,, pros/cons is appreciated.
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