While the application of AI in leasing took time for multifamily operators to adopt, AI leasing tools are now widely embraced. These front end solutions, like AI chatbots or AI leasing assistants, improve prospective resident engagement, reduce workload for property teams, and accelerate lease conversion. What about the application of AI on the back end,…
The risk of financial loss in operating a property management company is especially high in today’s economic environment. Between rising mortgage rates, slowing rent growth, and surging inflation, asset value margins are exposed and owners are feeling the pinch. Security deposits have historically been the go-to financial instrument to protect against such loss, yet they…
There is an inherent risk of financial loss in the multifamily industry that comes as a result of damages, evictions, and skips. However, nationwide occupancy is high and vacancies are low, meaning there are fewer opportunities to gain new renters and a greater need to keep existing ones. Depending on how protected properties are, increased…
State and local governments are steadily adopting security deposit laws that offer renters financial flexibility. Many of these laws—like Texas SB 1783—also ensure operators have adequate protection and profitability for their assets. Earlier this year, the state of Washington passed one such law, joining a growing number of states adopting new security deposit legislation. The…
Operating a property management company comes with a multitude of risks. Between physical property, operational performance, administration, and legal conflicts, risk quickly piles up leaving unprotected assets vulnerable to financial loss. Savvy operators understand that protecting their assets begins with a future-proof risk mitigation strategy—one that relies on data and smart technology solutions to accurately…
With rent hikes and rapidly evolving renter expectations, operators are looking for ways to provide more convenience and added-value for residents without sacrificing the property’s financial performance. One such strategy involves reframing deposit-free leasing with a risk mitigation model. To discuss this recent industry trend and bring insight to the latest advancements in property technology,…
Despite being riddled with risk, multifamily has accepted security deposits as part of property management just as residents have accepted paying them as part of renting an apartment. As neither party likes dealing with deposits, it’s time to re-evaluate their role and whether they serve that purpose effectively. As we see it, the fundamental problem…
Multifamily historically has been slow to embrace technology, but the industry countered that notion with its recent tech renaissance during the pandemic. Almost overnight, tech solutions went from last resort options to first-strike weapons in the industry’s effort to solve emerging issues. These technologies may have been a long time coming, but their fast-tracked implementation…
We’re still buzzing with excitement from all the amazing events that unfolded at last week’s NAA Apartmentalize 2022. With over 11,000 vendors and attendees, our team was delighted to welcome a constant stream of visitors to our booth and happy to reconnect with industry peers at our hosted events. While the event was back to…
The Covid-19 pandemic is finally fading away, and the ensuing economic recovery and employment growth have fueled unprecedented demand for apartment homes. That demand has led to off-the-charts rent growth. To optimize this momentum, operators are seeking competitive advantages in their efforts to land prospective residents. Unfortunately, resident preferences are a moving target. They now…
Two years since the start of the pandemic apartment leasing is returning to pre-COVID levels. Data sourced from PMS integrations shows this momentum with a 136% jump in leads and 20% more applications since the same time last year. Google searches for “apartments for rent” have also seen a 22% uptick since the start of…
LeaseLock is proud to serve as a sponsor for the 2022 edition of 20 fo 20, the industry’s leading executive survey on multifamily operations and technology. This year’s report provides a unique executive viewpoint on the current and future state of leasing operations and best-of-breed vs. bundled tech. Featuring 20 conversations with senior multifamily executives,…
