Property Management News

Even if you’re already completed your community budgets, it’s smart to review them at the end of the year. Most savvy multifamily owners, operators and marketers will no doubt have completed their 2024 apartment community budgets by this time. In fact, many begin the budget-preparation process months in advance, some as far back as June of each year. But before you finalize your budgets, it’s always wise to circle back and take a fresh look at your numbers. Why, for example, should you start 2024 with a budget based on the 95 percent occupancy rate you had in the third quarter when your current occupancy is 92 percent? Or base your expenses on an insurance quote you... Read more

Understanding Gen Z’s preferences can provide insights for apartment operators. While it’s crucial for apartment operators to meet modern-day renters where they are, it’s equally essential to anticipate the ways renter behaviors will morph moving forward. So how can operators gauge what’s next? For perhaps the most accurate depiction of what to expect in the coming years, they can examine the student housing sector. These students represent the next wave of conventional renters, after all, so their unique preferences and behaviors should not be overlooked. “These are the renters of tomorrow, and analyzing their tendencies is the best form of market research any conventional... Read more