The Demand Solutions Blog

NMHC Annual 2020: When Even White Shirts Get Disrupted

Posted by Dom Beveridge on Jan 23, 2020 10:30:00 AM

It’s not often that one finds oneself struggling to stay warm in Florida, but it’s been happening this week in Orlando, where we’ve been these last couple of days, along with a few thousand of our closest friends at the 2020 NMHC annual meeting.  

Among the gathered throng of multifamily dealmakers huddled (mostly indoors to avoid the cold) one could not help but notice a marked break from the previously mandatory uniform of grey pants, white shirt and blue blazer.  Many attendees commented on the degree of self-expression in the clothing (we’re talking blue, and even the occasional checkered, shirts) and the apparent disruption of a long-established order. But it was a different type of disruption that grabbed at least some of the attention this week.

About that tipping point

On Wednesday we were treated to a rapid-fire panel featuring luminaries of three technologies that have more potential than anything to transform multifamily operations. A succession of providers of AI leasing agents; smart home technologies and self-tour came to the stage to answer questions from operators.  The dialogue - although too quick to do much more than whet the appetite for further research and discussion - touched on some themes to which our industry should be paying attention.

As Rick Haughey (NMHC’s VP of Industry Technology Initiatives) reminded us at the start of the session, our industry has moved “from laggard to leader” in proptech.  A year ago in our 20 for ‘20 white paper, we noted that the industry was at a technology tipping point, largely because of those three technologies.  What’s impressive is the progress that has been made in 12 months.

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Topics: Multifamily Technology, Leasing, Industry Events

Five Hot Takes from NMHC OPTECH

Posted by Dom Beveridge on Nov 15, 2019 11:26:38 AM

I think it was probably a record, and by some distance.  A whopping 2,300+ attendees were registered for NMHC OPTECH, and it made for a busy, busy show.  It will take us some time to decompress, organize and reflect on the many learnings and insights.  While we do that, here are a few instant reactions from the show.

Self-tour is HOT! 

Attitudes to several key technologies are quite different this year compared to a year ago. Nowhere is this more apparent than self-tour.  Last year, as we interviewed operations and technology leaders for 20 for ‘20, we were surprised at the push-back against this exciting and impactful technology.  While the range of views remains wide, the tide has clearly turned.

You might say that self-show has officially taken the place of short-term rentals as the hottest topic in the industry, as evidenced by the standing room only crowd at the “Cage Match” session on Tuesday.  Several companies who are experimenting with self tours shared their experiences, which ranged from working with the tech solutions to running manual tests with their on-site staff handing out keys. The panelists shared their excitement about the initial success and stats they've seen thus far, and it seems set to grow in 2020.

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Topics: Multifamily Technology, Industry Events

NMHC OPTECH 2019: We Need To Talk About Pricing

Posted by Dom Beveridge on Nov 4, 2019 2:54:14 PM

Can it really be time for NMHC OPTECH already? It appears so, and I’m looking forward to joining industry leaders and technology luminaries next week for what is usually one of the highlights of the fall, as we make our way to Dallas to learn about what’s new and what’s working in multifamily technology.

There are many reasons to be excited. It looks like there will be a record crowd for this year’s show, and it’s probably the proliferation of exciting new proptech that’s drawing the audience. But alongside the new and shiny, we will be taking some time to celebrate 18 years of multifamily Pricing and Revenue Management (PRM). This year I’m delighted to be leading the first PRM panel that’s taken place at OPTECH for years.

The fact that PRM has been strangely neglected for a few years at this leading technology show is at the heart of what this panel is all about. February of this year marked the 18th anniversary of the first-ever system implementation. However, the last ten of those years have coincided with unprecedented industry growth. There is good reason to think that it may be time to re-sharpen our focus on this critical capability and the technology that supports it.

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Topics: Revenue Management, Multifamily Technology, Industry Events

Blurring the Lines in Housing - FLEX 2019 Conference in Review

Posted by Donald Davidoff on Oct 28, 2019 10:35:35 AM

I just got back from attending the inaugural FLEX conference. More than 200 industry professionals spent a day and a half focused on the issues of short-term rentals (STRs) in this “first of its kind” event. Here are a few thoughts and recollections while still fresh in my mind:

1. Content was king! Kudos to Stephen Lefkovits and Dennis Cogbill for curating an excellent set of content. The content covered all angles, discussing pros and cons, finance questions, operational and service issues, regulatory challenges and more. Most importantly, presenters shared real-world scenarios, actual results based on data and generally gave the audience information they could take back to their offices and use.

2. The Lines are Blurring. If I were to sum up the conference lessons learned in one word, it would be “blurring.” There’s a blurring of lines. Housing is blurring with hospitality; vacation stays are merging with business travel, and vendors are combining to offer a range of overlapping services, etc. On the one hand, it’s quite confusing as it’s increasingly hard to label anything or keep our processes in neat metaphorical cubbyholes. On the other hand, it’s incredibly exciting, posing many opportunities for those who can embrace the increased uncertainty/risk to expand and optimize the use of space.

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Topics: Multifamily Trends, Industry Events

Forewarned is Forearmed: NAA Maximize 2019 in Review

Posted by Jessica Mills on Oct 2, 2019 8:38:30 AM

Lately, we've been writing about the possibility of a downturn, and the impact that it will have on multifamily revenue management. It came as no surprise, then, that the changing economic tides appeared to be a recurring theme at last week's Maximize asset management conference in Atlanta.

Although the conference's audience seemed neither preoccupied nor unduly worried by the prospect of a downturn, it formed a backdrop for the program. From the keynote session where economist Ryan Severino assured us that while a downturn is coming it is not happening tomorrow, to individual sessions in one of which I was fortunate enough to be a panelist, there was a decided focus on preparing for the inevitable downturn whenever it comes.

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Topics: Revenue Management, Industry Events

9 Take-Aways from NAA Apartmentalize 2019

Posted by Donald Davidoff on Jul 10, 2019 2:54:43 PM

A little over a week ago, 10,000+ apartment industry colleagues descended upon our hometown of Denver, Colorado for NAA’s annual Apartmentalize conference. Along with entertaining keynote speakers and many different dinners and parties, there was an excellent program of education, networking and one-on-one meetings. Here are a few highlights from what we saw and heard:

1. Despite political uncertainty (and even a few economic concerns), the industry is still very much a confident group of people. With annual rent growth still above the long-term trend, we continue to enjoy the longest bull run in the modern rental housing industry’s history. Perhaps the best implication of this is that the run is now so long, we no longer hear baseball references around “what inning” we are in 😊

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Topics: Multifamily Trends, Industry Events

NAA Apartmentalize:  3 Killer Pricing and Marketing Tactics

Posted by Trachelle Spencer on Jun 18, 2019 12:02:00 PM

It's June, the sun is out (mostly) here in Denver, and like all locals involved in the multifamily industry, I'm looking forward to welcoming a few thousand esteemed colleagues to my hometown for next week's NAA Apartmentalize conference.

This year I'm excited not only because the show is in Colorado, but because I'm taking part in what promises to be an excellent panel, discussing one of my favorite topics: the interplay of pricing, lead generation and sales.  I will be joined for this discussion (which takes place at 5 pm on Thursday, June 27) by my friends John Reardon of Beacon Communities and David Dear of Equity Residential.

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Topics: Revenue Management, Leasing, Industry Events

NAA Apartmentalize - A Long View on Short Term Rentals

Posted by Donald Davidoff on Jun 11, 2019 2:41:36 PM

In just a couple of weeks, I’ll be joined by industry veterans Melanie French, Steve Hallsey and Marcie Williams as I moderate a panel, “A Long View on Short-term Rentals” at NAA’s Apartmentalize conference.  I’m excited to further the conversation about a subject that is top-of-mind in our industry.

I still remember four or five years ago when Jaja Jackson from AirBnB first presented to an NMHC conference. To say the reception was a bit cold would be like saying the Pope is a bit Catholic. The Q&A session was one of the most aggressive I’ve ever seen; and when I spoke up to opine that I viewed short-term rentals (STRs) as just another demand stream to be understood and leveraged, I could feel the metaphorical daggers hurled my way by the vast majority of the audience.

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Topics: Multifamily Trends, Industry Events

The Year They Put the “Innovation” into AIM

Posted by Dom Beveridge on May 8, 2019 10:14:59 AM

Early May has long been the time of year for multifamily marketers to head to Orange County, CA for AIM. As convivial networking opportunities go this event can’t be beat, which explains it’s impressively growing audience of both owner/operators and sponsors.

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Topics: Industry Events

From Imagination to Implementation – MICA in Review

Posted by Dom Beveridge on Feb 12, 2019 10:49:52 AM

As long-standing supporters of the annual AIM conference in Southern California, we had been looking forward to the launch of its south-eastern sister conference – MICA (Multifamily Innovation Conference Atlanta) – which took place last week.

The inaugural MICA event promised a showcase for innovation in one of the nation’s multifamily industry hotbeds, and it didn’t disappoint. An impressive crowd experienced a program that ranged from the creative, cutting edge of marketing to the nuts and bolts of implementing the innovations that residents are increasingly expecting of multifamily providers. 

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Topics: Multifamily Technology, Industry Events