21 Insights Series

Key Insight #1: Throttle Up Your Sun Belt & Suburban Assets

Thu, 28 Jan 2021 11:00:00 GMT

Understanding the opportunities with Sun Belt and Suburban translates to pricing hope for multifamily operators and investors in 2021 and beyond—especially while Gateway cities face ongoing limitations.

Balancing discipline with action is key for planning your rent growth strategy.

Watch the video version of this podcast here: https://www.realpage.com/videos/throttle-up-suburban-assets/

Key Resource:

Asset Optimization Suite

Key Insight #2: Strengthen Your Core in Ailing Coastal & Downtown Assets

Thu, 28 Jan 2021 12:00:00 GMT

Investors are wondering how to support assets in Coastal and Downtown after COVID-19 accelerated a shift that created an uncertain outlook.

Redefining the “core” investment strategy will require disciplined focus on demand-driven occupancy and resident engagement programs to limit long-term damage to the rent roll.

Watch the video version of this podcast here: https://www.realpage.com/videos/strengthen-your-core-assets/

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Key Insight #3: Adjust the Recipe for Your Operational “Secret Sauce”

Fri, 05 Feb 2021 11:00:00 GMT

Top-performing owners and operators are those willing to challenge their own assumptions and use analytics to inform strategy.

Assessing KPIs for relevancy against market conditions and benchmarks with the right data can identify where to adapt your approach and maximize healthy asset operations across classes.

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Key Insight #4: Accelerate Fully Virtual Leasing—Not Just Tours

Fri, 05 Feb 2021 12:00:00 GMT

Pandemic lockdowns sharpened the advantage for operators investing in virtual leasing tools.

Remote property tours and paperless applications driven by safety and preference are accelerating demand for a full virtual leasing platform that manages execution while properties focus on closing deals and optimizing both customer journey and resident experience.

Watch the video version of this podcast here: https://www.realpage.com/videos/accelerate-fully-virtual-leasing/

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Key Insight #5: Cut Costs Not Quality: On-Site Teams Go Multi-Site

Fri, 12 Feb 2021 10:00:00 GMT

Limited revenue opportunities have shifted executive attention to generating savings—preferably in ways unnoticed by residents and prospects.

Strategic cost-cutting means shifting traditionally on-site functions off-site to alleviate increased staff workloads, alongside benchmarking, smart property technologies and resident care solutions for leasing teams that are spread thin.

Watch the video version of this podcast here: https://www.realpage.com/videos/cut-costs-not-quality/

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Key Insight #6: Shift Operational Levers Together—Not Independently

Fri, 12 Feb 2021 11:00:00 GMT

Property and asset managers ultimately lose with panicked response to a downturn.

Avoiding rent roll damage, risk, low-value rents and slow recovery begins with tighter internal collaboration. But streamlining process and aligning operational priorities is key to accelerating decision making that drives specific asset yield strategy.

Watch the video version of this podcast here: https://www.realpage.com/videos/shift-operational-levers-together/

Key Resource:

Asset Optimization Suite

Key Insight #7: Focus on Renewals—They’ll Be Harder to Secure

Fri, 12 Feb 2021 12:00:00 GMT

After COVID-19 boosted retention and resident care, multifamily apartment property managers will be challenged to stay the course amid normalizing turnover patterns.

Phasing in face-to-face interaction alongside virtual channels and making your properties stickier can support strategic renewal growth plans based on holistic demand in market/submarket conditions.

Watch the video version of this podcast here: https://www.realpage.com/videos/focus-on-renewals/

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Key Insight #8: No “Tsunami:” Evictions Will Remain Limited

Fri, 19 Feb 2021 10:00:00 GMT

Local, statewide and national eviction moratoriums enacted in light of pandemic hardships indicate limited enforcement authority in various markets through 2021.

Leveraging technology to exercise increased caution in applicant screening protects not only the bottom line but also existing residents and viable inventory as fraud accelerates.

Watch the video version of this podcast here: https://www.realpage.com/videos/evictions-will-remain-limited/

Key Resource:

Virtual Living Suite

Key Insight #9: Decentralize Your Leasing Office

Fri, 19 Feb 2021 11:00:00 GMT

Critical leasing functions now occur beyond the office—portals, call centers, apps and websites operate in a multidimensional circulatory system.

These interconnected operations keep multifamily communities thriving and property teams driving revenue through occupancy and retention and optimizing back office functions, generating success with fewer resources than usual.

Watch the video version of this podcast here: https://www.realpage.com/videos/decentralize-your-leasing-office/

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Key Insight #10: Explore a Low Capital Value-Add Strategy

Fri, 19 Feb 2021 12:00:00 GMT

A decade of hot value-add activity has left fewer opportunities and dollars for property renovations.

But as investors take a broader view beyond physical construction and derive valuation from the rent roll, you can invest in other strategies to boost yield, demand, occupancy and rent.

Watch the video version of this podcast here: https://www.realpage.com/videos/explore-low-capital-strategy/

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Key Insight #11: Don’t Bank on a “Flight to Quality”

Fri, 26 Feb 2021 11:00:00 GMT

Investors historically luring renters up with concessions are finding the equation is changing.

With a widening rent gap, harder move-up math and tighter occupancies as renters choose more affordable options, high-quality multifamily assets must focus on retention strategies and stable new apartment occupancy revenue to reduce risk and churn.

Watch the video version of this podcast here: https://www.realpage.com/videos/dont-bank-on-flight-to-quality/

Key Resource:

Asset Optimization Suite

Key Insight #12: Be Cautious With Concessions

Fri, 26 Feb 2021 12:00:00 GMT

Lease-up concessions sometimes make sense but often cost more than they gain, complicate achieving new rent growth, frustrate other residents and create fair housing compliance risk.

Consider pricing strategies that establish consistency but offer flexibility, transparency and incentives that benefit properties and renters alike.

Watch the video version of this podcast here: https://www.realpage.com/videos/be-cautious-with-concessions/

Key Resource:

Asset Optimization Suite

Key Insight #13: Get Back to the Basics of Property Management

Fri, 05 Mar 2021 11:00:00 GMT

Multifamily operators with community managers and leasing agents who never experienced a downturn are combatting this operational gap by focusing on the basics of delivering results.

Hear how attending to the critical details of product, presence and promotion can differentiate properties in a competitive, engagement-driven rental market.

Watch the video version of this podcast here: https://www.realpage.com/videos/get-back-to-property-management-basics/

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Key Insight #14: Strengthen Your Tech Stack

Fri, 05 Mar 2021 12:00:00 GMT

For CTOs, 2020 brought a clear focus on efficiency and optimizing the software stack—evaluating solutions on overall performance, value and impact in the portfolio’s overall technology set.

Identifying opportunities for integration and analytics can fuel productivity and better inform and align property and resident operations to meet demands.

Watch the video version of this podcast here: https://www.realpage.com/videos/strengthen-your-tech-stack/

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Key Insight #15: Take Back Control of Your Brand

Fri, 12 Mar 2021 11:00:00 GMT

Standard lead generation offers limited control over brand positioning and limited visibility into results.

Investing in focused, science-based marketing that can more efficiently target the right audience, timing, presence and content gives you maximum ROI at every point in the renter’s digital journey to your property.

Watch the video version of this podcast here: https://www.realpage.com/videos/take-control-of-your-brand/

Key Resource:

Virtual Leasing Suite

Key Insight #16: Drive Up Revenues—Not Just Base Rent

Fri, 12 Mar 2021 12:00:00 GMT

Property owners and managers looking beyond rent growth in 2021 must think bigger to monetize the amenity services and premium features that residents value.

From technology to spaces to in-unit premiums, build additional revenue by pricing amenities to resonate with renters and align with demand.

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Key Insight #17: Get Aggressive Again (Strategically) with Acquisitions

Fri, 19 Mar 2021 11:00:00 GMT

Multifamily emerged from 2020 a net winner with investors reallocating capital toward apartments. As this accelerates in 2021, investors will want to weigh goals against the opportunities likely to appear primarily in Sun Belt and Suburban assets, while recognizing that yields were compressed basically everywhere.

Key Resource:

Asset Optimization Suite

Key Insight #18: Look for New Development Opportunities That Make Sense Post-COVID

Fri, 19 Mar 2021 12:00:00 GMT

Strategic investors are identifying higher-demand submarkets worthy of capital for fewer apartment starts as we continue to see key market struggles and generally higher construction costs.

But a shift is easier said than done given some higher barriers to entry. Tweak your strategy, but COVID shouldn’t shape your entire view of new development.

Watch the video version of this podcast here: https://www.realpage.com/videos/post-covid-development-opportunities/

Key Resource:

Asset Optimization Suite

Key Insight #19: Reimagine Short-Term Rentals

Fri, 26 Mar 2021 10:00:00 GMT

After stress-testing short-term rental business models during the pandemic, multifamily owners/operators can prepare for the next generation of STRs with “flexible living” technology, services and tools.

These innovative solutions are designed for apartment operators to easily implement and accommodate transient guest activity—affordably, safely and profitably—and correct vacancies with minimal PMC involvement.

Watch the video version of this podcast here: https://www.realpage.com/videos/reimagine-short-term-rentals/

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Key Insight #20: Prepare for Longer Unit Turns

Fri, 26 Mar 2021 11:00:00 GMT

In 2021, anticipate a limited construction supply chain with greater delays and costs for property repairs and unit renovations.

Proactively adjust move-out timelines and vendor processes and empower your teams with the tools to manage it all remotely to ensure efficient operations and consistent quality.

Watch the video version of this podcast here: https://www.realpage.com/videos/longer-unit-turns/

Key Resource:

Property Management Suite

Key Insight #21: Push for More Public Support for Affordable Housing

Fri, 26 Mar 2021 12:00:00 GMT

A dangerous undersupply of Affordable Housing in the U.S. continues under policies and funding shortages that restrict and slow development and pass the buck to property owners.

Apartment industry professionals joining with public advocates, policymakers and media can deliver a cohesive, informative message to grow Affordable inventory for low-income renters.

Watch the video version of this podcast here: https://www.realpage.com/videos/public-support-for-affordable/

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