What Do Property Managers Have to Be Thankful for This Season?
It’s not easy being a property manager. On any given day, you have a lot of fires to put out — from move-in to property maintenance to community engagement… and then some. From time to time, anyone tasked with the well-being of an entire community can lose sight of what makes it all worthwhile. And seeing as this is the season of giving, we’re listing all the things property managers have to be thankful for within their communities.
A booming rental market across the U.S.
Since 2006, we’ve seen a steady rise in renting in the U.S. (Unsurprisingly, there’s been a downturn in homeownership since the financial crisis of 2008 — one that only began to level out in the last few years.) A recent report from Trulia tells us that the greatest increase in renting has been among millennials, with the percentage of renters between the ages of 18 and 34 increasing from 62.5% in 2006 to 71.6% in 2014.
Generally speaking, more people tend to rent than own in urban cities. And as you might expect, sprawling, densely populated cities are at the forefront of this trend. According to Trulia, there are 3 major cities where more than half of all households rent: New York, Los Angeles, and San Francisco. It’s a good time to be a property manager, with millions of renters — many of which prioritize safety and proximity to work above all else — on the hunt for a new place to call home every year.
Technology to ease everyday operations
In this new digital age, more and more consumers are opting for online over in-person transactions. Residents and site teams deserve better experiences through technology too. By implementing technologies like smart home security, online rent pay and elevator reservations, email newsletters, and other systems to help automate your everyday operations, you can do more strategic work and less grunt work.
It’s even easier than ever to provide residents end-to-end moving support with Updater, the one-stop shop for all things moving. For residents, even the most nuanced tasks — from mail forwarding to transferring utilities — are made simple with Updater. Property managers, you can rejoice too; now you can give residents a personalized moving tool and spend less time triaging move-in requests.
Superhero site teams and great residents
How about a round of applause for your team? Your community is your calling card, and hard-working team members and communicative, engaged residents are key to your success. If you provide a great experience to those you work with every day — by promoting a strong work-life balance and enabling collaboration through open communication — you ensure a much better resident experience. Engaged teams deliver better service, and residents who have better experiences are more likely to stay, refer others, and sing your property’s praises (and yours!) on social media.
Want to know why our clients are thankful for Updater? See it in action!