The Lease-Up

The cost of insurance for multifamily communities isn’t going down. Instead, owners and operators are having to find ways to adapt. But it doesn’t have to be entirely on the plates of multifamily to solve problems brought about by increasing insurance prices. Policy solutions have the potential to offer some help too. In this episode of Quarterly with NMHC, Multi-Housing News Associate Editor Jordana Rothberg is joined by the National Multifamily Housing Council’s Kevin Donnelly, vice president of government affairs, technology and strategic initiatives, and Caitlin Sugrue Walter, vice president of research. Together the three discuss how insurance costs are impacting affordable housing, how these prices might change in the future and what policymakers can do to ease high insurance cost impacts. Follow along as this podcast goes over: · The current multifamily insurance landscape (1:30) · What factors are lending towards high insurance prices (4:30) · Where high interest rates do and don’t play a role (8:00) · The impact of high insurance costs on the national housing shortage (12:00) · How high insurance costs directly affect affordable housing (14:45) · Strategies firms are implementing to navigate a high insurance landscape (19:30) · The importance of high-quality data and modern technology (24:00) · Policy solutions that could help (27:00) · How experts foresee the future of multifamily insurance costs (33:00)

Despite ongoing volatility and uncertainty in the economic sector, the student housing market has performed better than other assets, maintaining an uptick both in preleasing and units under construction. Major players in the field, such as Core Spaces, managed to pencil student housing deals and even kick off projects nearing 2,000 beds. With a portfolio of 70 properties, serving over 40 institutions and almost 3,000 units under development, the company has been at the forefront of a localized market, as Brendan Miller, Chief Investment Officer of Student Housing believes. In our third episode of Student Housing Unlocked with Multi-Housing News’ Associate Editor Olivia Bunescu is joined by Miller to discuss the challenges in the sector when it comes to developing and delivering new communities, what students want nowadays, as well as Core Spaces’ business approach and values. Here are the main ideas discussed in this episode:

Though her official title is Director of Development, Marquette Cos.' Ann Reckelhoff plays a huge role in all aspects of projects, including branding and design, construction management, hiring and operations, management and lease-up. In this episode of Mission Success: Women in Multifamily, Reckelhoff reveals to Multi-Housing News Senior Editor Laura Calugar what it takes to be successful in today’s complicated economic context. With extensive experience in both development and operations, Reckelhoff admits that the people that she surrounds herself with are a key ingredient of her accomplishments.

Welcome to Management Diaries, MHN’s podcast on multifamily property management. In this episode, Denile Doyle talks with Miguel Gutierrez, COO at CAPREIT. Gutierrez leads business strategy for CAPREIT’s full apartment portfolio, which comprises more than 100,000 residents. Every decision he makes for the communities he oversees centers around resident satisfaction and retention. With an ongoing goal to provide a positive resident experience, when it’s time to consider value-add upgrades or new services, his starting point is always renter preferences—from aesthetics to tech to sustainability. Here are some of the topics we cover:

Each team has their strengths. And a great marketer knows how best to utilize these to create an authentic brand. That’s one of the ways that Carol Greenspun, director of marketing and operations, RailField Partners, helped put the company on the map. Greenspun has been with RailField Partners since 2021. She has more than 20 years of marketing consulting services background and has previously held marketing management positions with consumer-packaged goods companies and privately held firms. When she first joined the company, Greenspun set up a lot of little things–LinkedIn profiles, email signatures, etc. But she had a much bigger role, too. She was tasked with getting RailField Partners the attention it deserved. In this Top Marketers podcast, Greenspun and Multi-Housing News Associate Editor Jordana Rothberg discuss her strategies for elevating the brand to garner national recognition. Tune in to hear the two talk about: · Greenpun’s background as a marketer (1:00) · Getting the ball rolling for the RailField Partners brand (3:45) · The differences–and similarities–of working with consumer-packaged goods versus real estate (6:45) · Primary strategies that Greenspun uses now (9:00) · Marketing to your team and ensuring timeliness (12:50) · How to get marketing to be a priority (18:00) · An upcoming project that gets Greenspun excited (19:30)

The high interest rates and overall lack of stability are generating "a very significant reset" in the multifamily investment market, according to Robin Potts, partner & CIO in Canyon Partners Real Estate’s Los Angeles office. However, Potts expects sales to pick up later this year, when rates will likely come down. But even though that will encourage banks to loosen their lending standards, Potts sees prolonged opportunities for alternative lenders who have now established a more permanent role in the multifamily investment market. In this Mission Success: Women in Multifamily podcast episode, Potts and Multi-Housing News Senior Editor Laura Calugar discuss all facets of the investment market today and how things might evolve.

Welcome to Management Diaries, MHN’s podcast on multifamily property management. In this episode, Denile Doyle talks with Jackie Impellitier, vice president of operations at ZRS Management. With a property management career that spans more than 25 years, Impellitier guides her team to deliver a frictionless leasing experience for prospects. She shares her insights on how property managers can streamline the leasing process and meet prospects and residents right where they are. Here are some of the topics we cover:

In the real estate industry, sometimes things can go wrong no matter how much you prepare. That’s why having a good public relations team is key. Whether its prepping for plan A, going to plan B or dealing with an absolute crisis, Seth Linden, president of Dukas Linden Public Relations, knows how to best execute a good playbook. Linden has been president of the firm since 2014, previously serving as executive vice president. In his current role, he heads up client communications counsel, client programs, media coaching, crisis management and more for everyone from non-profits to small organizations to Fortune 500 companies. In this Top Marketers Episode, Multi-Housing News Associate Editor Jordana Rothberg and Linden talk about what it means to be a good PR rep, and also what it means to be a good client. From thought leadership to content creation, there is always more to be done from a PR perspective. Follow along as the two delve into: · Linden’s background in journalism and path to a career in PR (1:00) · Learning the ins and outs of the industry (5:00) · The best, as well as the more complicated, clients to work with (6:15) · A discipline to media coaching and messaging (10:00) · The importance of being a thought leader (11:45) · Transparency with your team and the media (15:50) · Crisis prep and building out a response team (17:20) · The differences between working with multifamily versus CRE clients (19:15) · What good content looks like (22:15) · How to be a valuable industry partner to real estate clients (24:15)

Together with husband Elde, DeLisa Guerrier owns a successful real estate development and investment firm in Nashville, Tenn. Guerrier Development is all about intentional development and long-term impact. Alongside partners, DeLisa and Elde delivered hundreds of workforce apartments and continue to focus on improving local families’ lives by building attainable housing on land owned by churches. Press play to hear her story!

"Survive 'till '25" seems to be this year’s mantra for the commercial real estate industry. And this also applies to multifamily. "Operational efficiencies will be the spotlight this year,” Paula Munger told Multi-Housing News Senior Editor Laura Calugar in this episode of the NAA Insights podcast series. The National Apartment Association’s vice president of research revealed details about other issues affecting the multifamily industry, but toward the end of the conversation, Munger touched on the positive signs she sees in the economy

The distinct landscapes of multifamily and commercial real estate marketing require different and nuanced approaches. Further, marketing techniques within a smaller boutique firm and a larger national company also vary significantly. Andrew Fredricks, central region director of marketing at Avison Young, knows how to navigate each circumstance with ease. Fredricks has been with Avison Young since 2015. He has more than 15 years of experience in the marketing and journalism world and has overseen campaigns for hundreds of assets across different sectors and property types. Throughout his career, Fredricks has mastered the ins and outs of marketing for different types of real estate. In this episode of Top Marketers, tune in to hear Multi-Housing News Associate Editor Jordana Rothberg and Fredricks discuss how his role now centers around aligning himself and his team as strategic partners to the rest of the firm. Follow along as the two dive into: · Fredrick’s background and current multifamily work at Avison Young (1:00) · The differences between marketing in a boutique firm versus in-house (5:20) · What it looks like to work on apartment deconversion campaigns (10:00) · Going back to more antiquated marketing techniques (12:45) · How marketing for multifamily varies from marketing for commercial (16:10) · Why multifamily marketers act as translators (18:15) · The importance of aligning marketing as a strategic partner (23:00)

For first episode of the Multi-Housing News’ quarterly podcast featuring guests from the National Multifamily Housing Council, President Sharon Wilson Géno discusses her thoughts on what 2024 holds for multifamily. Wilson Géno holds more than 30 years of experience in the housing industry under her belt. Having served counsel both in-house and outside for various organizations, she is well versed in housing law and policy, government and non-government contracts, nonprofit organizations, legislation and policy around affordable housing and more. In this episode, Wilson Géno and Multi-Housing News Associate Editor Jordana Rothberg discuss rent control, rental fraud and other multifamily trends that will impact the industry in the year ahead. Listen in as the two talk about: · What 2024 might bring for multifamily (1:00) · Impactful trends and opportunities taking place this year (3:30) · How interest rates might influence the multifamily landscape (7:15) · NMHC’s recent study on rent control (10:00) · An NMHC survey on the rampant rise of rental fraud (15:30) · Policy changes Wilson Géno hopes to see (21:30) · A new Digital Discrimination Rule and the harm it may bring (22:40) Recorded January 25, 2024

The student housing market has been keeping strong fundamentals, despite the uncertainty around capital markets. Although the transaction volume is down, some experts argue that student housing is recession-proof and remains resilient amidst current challenges, anticipating an uptick in 2024. Newmark’s Vice Chairman and Head of Student Housing Ryan Lang believes that this year might even be the best one on record for the sector. In our second episode of Student Housing Unlocked with Multi-Housing News’ Associate Editor Olivia Bunescu, Lang delves into the current trends and challenges in the sector and shares how the market is performing in terms of investment. Lang, who has 14 years of experience in the field, touches on the main factors that attract investors to these assets, from acceptance rate to the “flight to quality” movement. He also shares some insights on how to navigate the complex student housing landscape.

In the first episode of Mission Success: Women in Multifamily in 2024, Village Green CEO Diane Batayeh and MHN Senior Editor Laura Calugar dive deep into how lifestyle preferences and demographics have evolved, touching on how apartment operators have adapted throughout the years to meet the needs of diverse populations.

Whether or not it’s apparent, all great marketing decisions are rooted in psychology. And when it comes to multifamily real estate, understanding the science behind marketing strategies can be the tipping point of getting a leased signed and resigned. In this episode of Top Marketers, Multi-Housing News Associate Editor Jordana Rothberg is joined by Christine Gustafson, the vice president of marketing and public relations at The Breeden Co. Gustafson has been with The Breeden Company since 2020 and holds more than 20 years of executive and business experience under her belt. But the secret to Gustafson’s success as a top marketer? Her understanding of psychology. When you walk through the doors of a Breeden Co. property, there are a thousand tiny details. Each one holds significant importance, but why? In this episode, Rothberg and Gustafson break down the importance behind the small things and how bringing psychology into marketing decisions can transform the outcome entirely. Follow along as the two discuss: · Gustafson’s background and decisions she’s happy to have made (1:00) · Why the psychology of marketing is comparable to the psychology of dating (5:30) · The four Ps of marketing (9:30) · Elements that make up the leasing recipe (10:40) · The psychology behind a prospective resident (15:00) · Integrating psychology throughout a property tour (16:45) · How to close a prospect (23:30) · The direct results of integrating psychology into marketing (28:45) · Internal impacts of implementing psychological marketing strategies (33:30)

Welcome to Management Diaries, MHN’s podcast on multifamily property management. In this episode, Denile Doyle talks with Marc Kotler, president of the New Development Group at FirstService Residential. As a 25-year property management veteran, Kotler helps developers maximize the value and marketability of new multifamily developments, advising them in areas including planning and design, amenity programming, financial and budget recommendations, and operations. Here’s a sample of the topics covered:

Stephanie Johnston fell into the multifamily business when she was in college. She needed a job, so she got hired at the student housing community she lived in. Then she spent seven years in the fascinating student housing industry, but now she serves as a division president with RPM Living. Johnston oversees all property operations across the company’s Midwest, Southeast, Mid-Atlantic and Northeast regions, as well as their affordable portfolio. She specializes in capital improvements, associate development, budgeting, and market analysis. In this podcast discussion with Multi-Housing News Senior Editor Laura Calugar, Johnston dives into the ins and outs of property upgrades, touching on what residents want most in their apartments and the amenities they expect.

The list of new and upcoming tools for multifamily marketers is evolving every day. AI chat bots, virtual leasing agents, virtual tours… how does anyone keep up? Well, one top marketer knows. Daphne Corbin is the vice president of marketing for The Life Properties. She first joined the company in 2019 with more than eight years of multifamily experience under her belt. At The Life Properties, she oversees marketing and branding initiatives for the company’s entire portfolio, along with advertising, website development, reputation management, trend analysis and more. In this episode of Top Marketers, Corbin and Rothberg dive into how The Life Properties is staying ahead of the curve. Listen in as Corbin discusses exactly what she wants out of her virtual assistants and why she isn’t afraid to make some changes along the way. Tune in to hear about: -Corbin’s background, coming from retail sales (1:00) -The rewarding process of building a marketing team from the ground up (4:00) -Ensuring the successful onboarding of onsite team members (6:20) -Implementing marketing into new properties using a brand kit (7:40) -The tech of the brand kit (10:00) -How Corbin utilizes virtual tours (11:45) -Virtual leasing assistants and how they help internally (15:30) -Selecting a virtual leasing assistant (20:00) -Keeping up with the ever-changing world of AI (23:00) -Advice to anyone that’s hesitant to dive into technology (26:30)

High inflation, epic rise in interest rates, declining valuations, looming regulatory changes and a great divide between buyers and sellers—this cocktail of factors has created an unfavorable environment for multifamily transactions in 2023. And Stephanie Wiggins, managing director & head of production for agency lending at PGIM Real Estate, believes there’s not enough daylight left in the year to make up for the loss in volume that the industry has experienced, despite recent improvements in Treasury yields. However, this hasn't made her less optimistic about the future. She believes that in 2024 the bid-ask spread between buyers and seller will mitigate as they become more realistic about valuations. She feels that experienced borrowers will change their mindset and adjust their expectations about interest rates. Tune in for the November episode of Mission Success: Women in Multifamily, the monthly podcast series hosted by Multi-Housing News Senior Editor Laura Calugar!

The role that marketing plays in lead generation for multifamily communities might be self-explanatory, but what about resident retention? Further, with so many changes happening to the digital sphere right now-and happening quickly-how do marketers keep up? James Love, vice president of marketing and brand at Draper and Kramer, Inc., has some answers. In this episode of Top Marketers, Jordana Rothberg, associate editor with Multi-Housing News, talks with Love about how he finds more opportunities to focus on authentic marketing and creativity while utilizing new and upcoming technology to his advantage. From his time making movies to working at a bank, Love knows how to write and market a great story. With more than 25 years of brand building and go-to market strategy experience, Love has some great insights. Follow along the conversation and listen in as Rothberg and Love dig into: · Love’s background in storytelling, from aviation to movies (1:00) · Building a marketing department for Draper and Kramer (5:00) · How marketing plays a role in resident retention (6:20) · Social media as a decision engine (10:00) · How technology influences the resident experience (14:00) · How the digital sphere can be an advertisement (17:20) · A new way to search and an unexpected side story (20:00) · Getting back to authentic marketing (26:00)