In uncertain financial times, with inflation and expensive labor costs, protecting your investment and ROI can be challenging. However, for multifamily property owners and managers, focusing on existing residents is one of the most effective ways to achieve this. Retention is much more cost-effective than acquiring new ones. Satisfied residents are also more likely to renew their leases, which means a more stable income for your property.Here are ...
Property management companies have various options to engage with renters, such as omnichannel, touchpoint, and 360 marketing. Each strategy is unique and advantageous, depending on goals and target audience. We will explore the differences between omnichannel marketing, touchpoint marketing, and 360 marketing.Omnichannel Marketing: A strategy that focuses on creating a seamless, consistent, and integrated customer experience across all marketing ...
In today's fast-paced world, technology has become an integral part of our lives, and the multifamily industry is no exception. With the advent of digital demands and a thirst for instant gratification, the call for technology-driven solutions has skyrocketed. Enter Artificial Intelligence (AI) a game-changer that's revolutionizing the dynamic between owners and renters. The key benefits of AI:Instant Responses: Renters expect immediate answ ...
Saying Goodbye to High Employee Turnover: How to Keep Your Team Happy and Productive
A major challenge that the multi-family industry faces is high employee turnover. With an annual employee turnover rate of 70%, property management has much higher turnover rates than other industries. This is notably higher than the national average of 22% pre-pandemic. ...
Our employee survey data at Swift Bunny supports your proposed solutions. Employees tell us in their confidential survey responses that these things especially matter in terms of whether they will stick around:
- Fair compensation
- A bright future - meaning learning and career growth opportunities
- Good communication at all levels of the organization
- A reasonable workload
Sounds simple...but each one of those can be hard to deliver on, especially when you are short-staffed and time-crunched.
My advice to leaders and supervisors would be to start by improving... Show more
How To Make Multifamily Psychologically Safe
Summary What happens when employees feel unsafe, unheard, and disengaged with their managers or even peers? The result is often underperforming, stressed, and distrustful teams. Consider an industry with high levels of stress and low levels of satisfaction. Certainly, it will see a high employee turnover rate, as is the story of the multifamily industry. Research suggests that teams wi ...
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Event starts in:
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28 Jun -
12 Jul
Multifamily News
- Lissette Calderon’s Neology Development Celebrates 21 Years of Business and Reinvigorating Miami’s Neighborhoods
- RKW RESIDENTIAL Promotes John DeMario to Regional Vice President
- 460-unit sale of multi-housing community between Buffalo and Niagara Falls, NY trades
- Sale of northwest Austin multi-housing community closes
- $32.125M financing secured for multi-housing development outside of San Antonio
