1. AI and Big Data
Artificial intelligence is paving the way for faster and more meaningful business intelligence. Every real estate operation needs to be using big data tools to understand the trends and opportunities in their specific business. As property management enterprises scale, there are operational inefficiencies that require deep data to solve.
2. Multi-touch Lease Cycles
Winning prospective tenants requires a full lease cycle CRM. Enterprises are going beyond tracking walk-ins and calls to doing deep tracking of lead-lease touch points. Communities find that effective lead-lease cycles require multiple touches with prospective tenants across multiple different formats including text, email, and in-person showings.
3. Environmental Sustainability
Tenants are prioritizing environmental sustainability to a much greater degree than ever before. Apartment communities are investing in green initiatives that pay tenants back in energy savings. Garden roofs, solar panels, and energy efficient appliances are a small preview of the expectations of environmentally savvy tenants looking for communities that fit their ideals.
4. Utilize Technology
From car-sharing to virtual leasing, technology is innovating all aspects of the multifamily industry. At Apartmentalize it was all about smart home tech, resident-focused amenities, and lifestyle experiences. How are you supporting the Internet of Things at your communities?
Technology does not have to be tenant facing only. There have been vast improvements in technology that supports the full operations life cycle of property management. Technology companies like Latchel are accelerating the efficiency of the maintenance process.
5. Networking for the Win
As the multi-family property industry changes shape, it is more important than ever for companies to participate in a national discussion. Forums like NAA Apartmentalize provide the opportunity for us to share data, trends, ideas, and technologies.
Greystar Real Estate Affiliate buys college housing REIT for $3 Billion
Education Realty Trust Inc., a college-housing real-estate investment trust, said it is selling itself to a Greystar Real Estate Partners affiliate for $41.50 a share in cash. The total cash value of the sale is over $3 Billion. Monday’s announcement confirms a report in The Wall Street Journal earlier this month that said Greystar was looking at buying the firm and had offered that price.
3 Data Analysis Options To Make You Rich
Larry Alton writes about data analysis in his most recent Bigger Pockets article. Data can point investors in the right directions. It can’t make a decision for you, but understanding how to use data adds a security layer that ensures you’re at least on the right track. Stack the cards in your favor by using data the right way.
Here are the 3 data analysis frameworks that Larry uses to score the best investments:
- Automated Valuation: Being able to estimate current home values would be extremely difficult if it weren’t for the Automated Valuation Model, which major real estate organizations use. Think about the role the big players in real estate serve in data analysis.
- Home-Flipping Reports: If home flipping is your investment preference, monthly and annual reports can identify various success factors. You’ll learn such things as how many homes are being flipped in an area, how many are profitable, and the saturation of home flippers in your area.
- Foreclosure Reports: Since profitable investing often depends on entering a good market early in the trend, such data can be invaluable for determining whether to invest. It can help you find hidden gems in real estate markets and avoid others that are unlikely to yield.