ABODO’s Property Management & Multifamily Roundup (May 25-29, 2020)

property management news

In this week’s installment of the ABODO Property Management & Multifamily Roundup (May 25-29), 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, insight into the economy improving, how working from home might impact the market and much more.

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

May 25, 2020

Will Smaller Cities See a Boom From the Coronavirus

HousingWire | By Angela de Gale

“After the Great Recession, the number of big-city residents boomed. Flush with jobs and thirsting for modern high-rises, young adults and families moved into dense metro areas with amenities at their doorsteps and strips of restaurants blocks away. But those walkable urban areas have become less affordable in recent years, and the quintessential dream of a single-family home, especially after the coronavirus-induced quarantine, may be multiplying.”

Tech Tools Could Spur Quick Economic Recovery for Multifamily

Multifamily Executive | By Paul Willis

“While it’s unclear when the economy will return to a semblance of normal, optimism from the apartment industry is certainly justified. The multifamily sector has always proven to be resilient, and it wouldn’t be a stretch to predict that it will recover more rapidly than many other industries.”

May 26, 2020

Multifamily Builders Paint Grim Outlook Amidst Coronavirus Crisis

Mortgage Professional America | By Candyd Mendoza

“Coronavirus-distressed builders and developers saw multifamily market conditions worsen in the first quarter, according to the National Association of Home Builders (NAHB). Leading up to the coronavirus pandemic, demand for apartments had been solid, and development processes were normal,” said Barry Kahn, chairman of NAHB’s Multifamily Council. “Now, we are seeing a lot of disruption in the market as builders and developers are trying to navigate the impacts on operations and collections, permitting, inspections, and financing.”

NMHC Rent Payment Tracker Finds 90.8 Percent of Apartment Households Paid Rent as of May 20

National Multifamily Housing Council | By NMHC Editorial Team

“The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 90.8 percent of apartment households made a full or partial rent payment by May 20 in its survey of 11.4 million units of professionally managed apartment units across the country. This is a 2.2-percentage point decrease in the share who paid rent through May 20, 2019 and compares to 89.2 percent that had paid by April 20, 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.”

May 27, 2020

Housing 2.0 Needs a New OS That Provides Health, Security and Resiliency

Multifamily Executive | By Matt Hoffman

“COVID has created great urgency for housing providers to rethink the connection between housing and health. The pandemic has demonstrated the fragility of the current housing operating system—fragile for tenants, who are struggling to socially distance and access online resources; fragile for owners, who are struggling to operate remotely and collect rent; fragile for our economy, which needs healthy workers who have a place to be safe but still engage in everyday activities.”

Podcast: Where Will the Economy Be by Year-End?

Multi-Housing News | By Laura Calugar

“The final two weeks of the first quarter show how destructive the COVID-19 pandemic was, according to research from the National Apartment Association. We will most likely see the after-effects in the second and third quarters, but it’s difficult to tell how quickly the economy will rebound. Tune in to find out what innovative solutions owners resorted to in order to help their residents cope with the coronavirus situation and why the data points toward a “swoosh” economic recovery.”

May 28, 2020

Gen Z Apartment Designs Emphasize Co-Living, Private Personal Space

Multifamily Executive | By Joe Bousquin

“When it comes to designing apartments for Gen Z, developers and architects say it helps to think about where they’ve come from. Known for being frugal, cohorts of Gen Z—those born from 1997 on—comprise the largest and most diverse generation in American history. With the oldest of them just turning 23 now, they represent the lion’s share of new apartment renters for the next 10 to 15 years. But they’ve been through a lot, from the financial crisis of the late 2000s to the lingering impacts of COVID-19 today.”

New Survey Reveals Property Managers’ Plans for the Future, Biggest Challenges, and Steps They’re Taking to Prepare

AppFolio | By Megan Eales Monroe

“In the immediate aftermath of the first COVID-19 emergency orders, property managers were forced to pivot quickly to protect their residents and staff and ensure business continuity amid lots of uncertainty. To find out what changes they made in the short term, we conducted an initial survey with over 3,000 property management professionals.”

May 29, 2020

Multifamily Developers Report Permitting Delays, Starts Due to Pandemic

GlobeSt | By Patrick Smith

“More than half, or 53%, of respondents in the third edition of the National Multifamily Housing Council COVID-19 Construction Survey report they experienced permitting and start delays, with 85% of those seeing permitting-specific delays directly due to COVID-19. Survey respondents also saw a significant increase in paused starts, with 78% reporting delays, up 8 percentage points from the second survey covering April 9 through April 14 and 19 percentage points higher than the initial survey, conducted between March 27 and April 1.”

Weekly Rent Payments are Better for Everyone

Forbes | By Atticus LeBlanc

“What day of the week is it? I’m guessing that in spite of your tangled work-at-home schedule, with one day blending into the next during the quarantine, you are still able to answer this question correctly. How about if I ask you which day of the week the first of next month falls on? Unless you happen to be reading this at the end of the month or staring at a calendar, this answer probably isn’t on the tip of your tongue. I ask this question to groups all the time, and only once has anyone ever had the answer within a few seconds. Yet nearly every landlord in the world expects their tenants to pay their bill, and budget around, the first day of each month. Why?”

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

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