Go More Green
Environmental efficiency continues to be important to tenants. Looking at the multifamily sector, survey by Strata Research this year revealed that 77% of renters felt green apartments were important. The survey also found that Energy Star appliances were the No. 1 green feature tenants were looking for and that 64 percent of respondents said they would maybe pay more for green features. According to this Multifamily Executive article, this green building appeal attracts a certain, more affluent audience: "Green building certification can be used as an effective marketing tool for targeting certain demographics, and for raising your firm’s profile, making your company appear smart and forward-thinking."
Control More Costs
Looking for small, but effective ways to cut and control more costs here and there can add up to big savings by the end of the year. There's no better time to start than now. During the colder months, property managers can save big on heat costs by paying attention to things like replacing old insulation with newer more efficient insulation or winterizing windows.
Be More Tech-Savvy
Traditionally, macroeconomic factors have had a significant influence on the demand-supply dynamics for CRE properties. Now, though, factors such as technology and mobility impact leasing demand. This can be seen in this Deloitte Research from this report that is illustrated to the right. Incorporating more technology geared towards tenants preferences can not only give a property management company leverage, but also demonstrate a forward-thinking company image.
What resolutions are you setting for the New Year? At Block Real Estate Services, (BRES)our property management team is continually seeking out more ways to improve our tenant experience and maintain the best care of the properties entrusted in our care.