ABODO’s Property Management & Multifamily Roundup (May 18-22, 2020)

Propert management news

In this week’s installment of the ABODO Property Management & Multifamily Roundup (May 18-22), we’ll take you through the week in property management news, specifically, you’ll learn how the industry is preparing itself for life after quarantine with property management technology innovations, COVID-19 guidance, updates on rent collections, the importance of data, how working from home might impact the market and much more.

Here’s the latest in property management news and multifamily updates.

May 18, 2020

What Is PropTech? +History, Startups, Trends in 2020

2nd Kitchen | By Levi Olmstead

“All aspects of our lives are undergoing a digital transformation. From software and automation to VR and machine learning – the future is now. That includes the real estate and property management industries through its own wave of disruption through what has been termed as PropTech.”

The Importance of Data Integrity — Now More Than Ever

Multifamily Executive | By Samantha Chalmers

“There is no denying it and no way around it. The apartment world is going to look vastly different for the foreseeable future, and the decisions the industry makes in these moments will determine how quickly it can recover from the global pandemic.”

May 19, 2020

Impact of COVID-19 on U.S. Short-Term Rentals

Rent Responsibly | By Michelle Owens

“One thing is certain: our industry has changed dramatically. Many of the trends and innovations that were predicted to emerge over the next five or 10 years, like more flexible renting terms and a touch-free end to end guest experience, have arrived overnight. Now is our opportunity to take the best policies, practices, and amenities unique to short-term rentals and set the standard in hospitality for all. This report is here to help all stakeholders in that process.”

Work from Home Could Empty Expensive Cities

The Real Deal | By Jerome Dineen

“Before the coronavirus pandemic, many of the world’s most profitable corporations set up camp in major cities, seeking to draw from the abundant talent residing — or wanting to reside — in urban centers. But with the coronavirus pandemic heralding a corporate work-from-home revolution, a survey found more than 6 in 10 city dwellers are looking to leave, according to a new survey from online real brokerage Redfin.”

May 20, 2020

J Turner Survey Predicts Rent Payment Rate for May

Multifamily Executive | By Mary Salmonsen

“From April 23 to April 30, J Turner Research conducted a survey of over 3,700 apartment residents across the country about whether they would be able to pay rent—among other obligations—in May. Based on these results, the firm predicted an 80.2% rent payment rate for May—within 1 percentage point of the 80.6% rent payment rate reported by the NMHC on May 15.”

5 Tech Tips For Remote Property Management & Social Distancing

Yardi Breeze | By Yardi Breeze Editorial Team

“Social distancing is having a profound effect on the real estate industry. The uncertainty that stems from the coronavirus and COVID-19 is painful, but it’s also a sharp wakeup call. We need to be prepared to carry on with business even if we can’t meet face-to-face with prospects and residents.”

May 21, 2020

Rental Fraud Spikes in Wake of COVID-19

Mortgage Professional America | By Ryan Smith

“According to real estate tech firm Snappt’s 2020 Fraud in the Rental Industry Survey, fraud has become common in the residential rental industry, with two-thirds of property managers saying they had been victimized by fraudulent rental applications. Applicant fraud has seen a 9% month-over-month spike since the COVID-19 crisis – likely a response to both the current economic conditions and recent changes to state and local eviction moratoriums, Snappt said.”

The Coronavirus Impact on Student Housing

Multi-Housing News | By Gail Kalinoski

“Students at colleges and universities across the United States have been home since March when the COVID-19 crisis forced school officials to shut down campuses and move classes online. With an uncertain fall semester looming, the student housing submarket—which had already been facing issues in some regions due to overbuilding and competition—is seeing higher-than-average delinquency and special servicing rates compared to other parts of the multifamily sector, according to Trepp’s Student Housing Multifamily Report.”

May 22, 2020

NMHC Rent Payment Tracker

National Multifamily Housing Council | By NMHC Editorial Team

“The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 87.7 percent of apartment households made a full or partial rent payment by May 13 in its survey of 11.4 million units of professionally managed apartment units across the country. This is a 2.1-percentage point decrease in the share who paid rent through May 13, 2019 and compares to 85.0 percent that had paid by April 13, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.”

US Multifamily Market Sends Mixed Signals

GlobeSt | By Lisa Brown

“The US apartment market performance metrics for April show a mixed bag of results, says a report by RealPage. Survey results for 9.1 million multifamily units across the country show April’s occupancy rate at an average of 95.4%, drifting down a mild 20 basis points from the March result to a level that matches the performance from April 2019.”

Be sure to check in with us for our next roundup — coming soon.

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