Centralization and the Renter Experience

Jan 10, 2023 | Leo Library

Take a look back, as we revisit our Apartment Academy Live recordings that took place at the 2022 NAA Apartmentalize conference in San Diego. Stephanie Oehler from Leonardo247 filled in for Daniel on this episode. She was joined by Brent Williams from Multifamily Insiders, and guest Tammy Longo from ALN Data. Here we highlight their insights from the educational sessions that took place during the conference. 

What stood out to you about this year’s speaking sessions? [4:05]

  • Leasing centralization is not easy to define. Each company is approaching it differently. For example, centralizing tasks vs. centralizing the team. 
  • Education is key. We need to educate, not just our peers, but the renters about centralization.
  • We’re seeing an insurgence of build-to-rent (BTR) housing. This is another factor that will drive centralization.

What does centralization mean for the staffing needs of multifamily properties? [9:30]

  • As we centralize and have more technology solutions, I think we will see companies looking to reduce their on-site staff. One example of an operator reducing their on-site staff by 40 percent.

Why are more conventional operators starting to invest in affordable housing? [13:40]

  • They are seeing that affordable housing can generate revenue. With these typically being smaller communities, they also require less on-site staff.
  • You can absolutely centralize affordable housing now, whereas it was not even an option in the past. More aspects of affordable operations are finally moving online.

How is centralization affecting the renter experience? [16:30]

  • With rent on the rise, so too are resident expectations. 
  • On the leasing side, prospects are more educated about their rental options than ever before. With the emergence of self-guided tours, by the time a prospect meets with your on-site staff, all they really want to do is see it for themselves in person.

About our Guests

Brent Williams is the Chief Insider of Multifamily Insiders, the largest social network in the world for multifamily professionals. His background includes both property management and supplier, and he writes on all facets of the multifamily industry, although his focus lies in resident retention. Connect with him on LinkedIn.

Tammy Longo is a Regional Sales Executive with ALN Apartment Data in the Northeast region. In 2003 she was first introduced to the multifamily housing industry when she moved from New York to Virginia and accepted a position as a leasing agent. Over her exciting 18-year career, she has enjoyed life in operations, marketing, and on the vendor side of multifamily. Connect with her on LinkedIn.