In the previous two articles in this series, we outlined two reasons why multifamily operators should consign the use of security deposits to history. First, we talked about how many operators are missing opportunities to eliminate bad debt and how, even in cases where they don’t have a lot of bad debt, there is usually…
After conducting a joint industry study, LeaseLock and Grace Hill are excited to release the official survey analysis. The 2021 Apartment Visionaries Research Report surveys nearly 300 multifamily operators on their primary asset performance issues, as well as the success of the technology solutions they implemented across the five stages of the apartment leasing process….
In our last blog, we discussed how operators are reducing bad debt by insuring leases instead of taking security deposits. The bad debt that we discussed in that post ought to be enough to motivate any operator to rid themselves of deposits for good — but it is not the only reason to do it….
In today’s multifamily market, the issue of bad debt is not always top of mind. Eye-popping year-over-year rent increases and uncomfortably high occupancies create a natural tide of financial optimism. If you asked most operators, they’d tell you, “We don’t have a bad debt problem.” But consider for a moment what that means. Thinking that…
Looking to elevate your firm’s apartment leasing process and resident experience? Doing so requires meeting the modern renter’s demands as well as addressing the major pain points across the entire renter journey 一 from the moment they become a prospect all the way to the move-out experience. We hosted an educational presentation via the National…
When former apartment residents look back on their living experiences and assess their satisfaction, their lasting sentiments rest heavily on the final interactions they have with their apartment communities. So, why are so many renter relationships tainted after move-out? Security Deposit Disputes Create Negative Move-Out Experiences Which Damage Your Online Reputation Residents’ final impressions are…
Happy budget season! Multifamily communities and corporate teams are starting their annual budgeting and forecasting exercises, but what’s different this year? As we edge out of the pandemic, what budget season best practices can multifamily operators employ to ensure a happier, smoother budget process? We hosted a webinar panel with industry experts from top operators…
With legislation around the eviction moratorium, rent relief programs, and security deposits constantly evolving, Texas property owners and operators need to stay up-to-date on the latest rental housing laws. What are the biggest challenges facing both operators and their residents, and what do multifamily experts in the region have to say? What does the newest…
It’s nearly budget season — are you in budgeting shape? As multifamily dives into budgeting and forecasting exercises, apartment operators need to do all they can to make the process as smooth as possible. A pain-free budget season may seem out of reach, but you can make it happen. How can apartment operators increase income…
While the industry entered 2020 on a high note, COVID presented various challenges for both apartment operators and renters. Unemployment led to missed rent payments, economic interruptions slowed rent growth and halted apartment construction, and general uncertainty upended more than a decade’s worth of strong growth trends. The 2021 peak leasing season is here and…
Illinois property owners and operators are constantly navigating ever-changing rental housing laws. With new legislation around rental assistance and security deposits, what do these policies mean for multifamily in the Chicago region and Illinois as a whole? In light of new rental assistance programs, as well as a wave of security deposit legislation sweeping across…
California lawmakers extended a statewide eviction moratorium through June 2021 and passed an emergency measure to deliver $2.6 billion in rent relief. Local jurisdictions in San Diego and Los Angeles counties have also passed their own eviction moratoriums. With strict rent control in cities such as Santa Monica, and tightening security deposit legislation across the…
