The Demand Solutions Blog

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: NAA Conference, Technology, Short-Term Rentals, maximize

Bridging the Business Intelligence Divide

Posted by Dom Beveridge on Aug 26, 2019 11:24:49 AM

Lately, I’ve been talking to a lot of companies about business intelligence, and the ways that organizations attempt to deliver this key capability.  While there is a broad understanding of the need to bridge the gap between the business and IT organizations, the evidence suggests that the gap remains unbridged at many companies.

A recent article on the subject from McKinsey: “Analytics Translator: The new must-have role” suggests that the rewards are getting bigger, rather than smaller for companies who succeed in providing business leadership for increasingly critical IT-enabled analytics projects.  The logic goes that as data sets get bigger and data mining resources more sophisticated, firms will require a level of leadership that will ensure the maximum impact from their analytics.  

The point of the article is persuasive; however, we have argued for a long time that this requirement already exists.  In fact, it’s probably the biggest single reason why multifamily companies fail to reap the benefits of their business intelligence projects.  As we explained in our own white paper: “Creating an Analytically-Driven leadership Culture,” if business people are blue and IT people are red, then the best business intelligence resources are purple.  As both articles strongly suggest, purple people are among an organization’s most prized associates.

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Topics: business intelligence, Multifamily Trends, Technology

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: pricing and revenue management, Multifamily Trends, Technology, Short-Term Rentals

3 Steps to Avoiding Pricing Complacency

Posted by Donald Davidoff on May 29, 2019 1:13:12 PM

The legendary golfer, Jack Nicklaus is often quoted as saying, "Complacency is a continuous struggle that we all have to fight." We have frequently argued on this blog and elsewhere that the decade of growth has blunted many of the tools that have delivered success and shareholder value in our industry over the last couple of decades. Rising tides lift all boats, and when growth is all-but-guaranteed, competitive capabilities atrophy.

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Topics: pricing and revenue management, Multifamily Trends, Technology

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: apartment marketing, Multifamily Trends, Technology

Three Top Multifamily Training Priorities for 2019

Posted by Donald Davidoff on Apr 25, 2019 12:33:57 PM

As we researched 20 for '20 - our white paper on the outlook for multifamily based on 20 interviews with senior executives - we were struck by the intense competition for talent in the industry. Low unemployment rates and record industry growth have conspired to make both recruitment and retention extremely challenging.

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Topics: Multifamily Trends, Technology, Sales Coaching, Customer Experience

3 Reasons Why Multifamily Must Adopt Self-Show

Posted by Donald Davidoff on Apr 17, 2019 8:35:00 AM

As we get near the Apartment Innovation and Marketing (AIM) conference, I wanted to take a moment to discuss an innovation from single-family rentals (SFR) that I believe should be getting more attention from multifamily housing (MFH) operators.

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Topics: Multifamily Trends, Technology

Multifamily’s Last Technological Inflection Point

Posted by Dan Amedro on Apr 9, 2019 8:15:00 AM

Since we published the findings of our 20 for ‘20 research, we have found a broad consensus that multifamily technology is at a technology inflection point, the like of which we have not seen since the 1999-2004 timeframe. During that period pricing and revenue management, web-based property management systems and resident and prospect portals all came to market at once. Dan Amedro was CIO at Archstone from 1997 through 2012. He not only had a front seat to all those changes but as often in the driver’s seat. We asked him to reflect on that time in the industry. As you read this, we think you’ll agree that the experience 15-20 years ago provides a great map to help navigate technology today.

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Topics: Multifamily Trends, Technology, Future, Change Management

How the Multifamily Technology Environment is Changing

Posted by John Helm on Apr 1, 2019 11:40:00 AM

As we were researching our new white paper, 20 for ‘20 - we learned about the multifamily technologies that are currently top of mind from the 20 senior executives who we interviewed. As we mention in the white paper, multifamily is at a technology tipping point, the like of which we have not seen since the late 1990s. This time, however, there seem to be some differences in the way that the industry is approaching new technologies.

Guest Blog by John Helm - Managing Director of Real Estate Technology Ventures

Real estate technology has significantly matured over the past few years, with seismic shifts in resident preferences changing the adoption of technology. Increasingly tech-savvy, digitally-native residents have the same expectations of their living experiences as they have for all other services they consume.

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Topics: Technology, Future

20 for '20 - A New Perspective on Multifamily Leadership

Posted by Donald Davidoff on Mar 6, 2019 12:00:25 PM

This week we released our much-anticipated white paper, 20 for '20: 20 Conversations with Senior Executives About the Outlook for 2020 and Beyond. For those of you who hadn’t heard about it, we interviewed 20 operations and technology executives at the end of 2018 to get their perspectives on the state of the industry and their own priorities.

We felt that by contrasting our 20 interviewees' current priorities with priorities for the next few years, we could gain and share insight into the outlook to 2020 and beyond. We’ll be discussing some of the findings in more detail on this blog over the coming weeks. But today, aside from making sure you know it’s now available for download, I thought I would share what motivated us to put in the many hours of research and to invest in writing this white paper.

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Topics: Multifamily Trends, Technology, Future