Five Trends For The Post-COVID Multifamily Industry

BLOOMFIELD HILLS, Mich. - Oct. 25, 2020 - PRLog -- The current health crisis continues to transform how we live, work and interact with each other. For the multifamily industry specifically, different trends have emerged that are likely to stick well after the pandemic subsides.

More virtual tours

Virtual tours are just as effective as in-person appointments, as long as you follow some basic best practices for building a relationship and understanding what your prospects want.

If you're going to schedule a virtual tour, it should be just like an in-person appointment you're hosting. If you plan to walk around and show four, five, six apartments, that's going to inhibit their urgency to sign a lease.

Get creative with descriptors and go slow, ensuring you're showing off every angle of the premise. While you're in the space, remember to ask questions with the goal of them envisioning living there, like how big their furniture is or if they like to entertain.

Accommodating the growth of telecommuters

Look at your amenities and floor plans through the lens of an environment conducive to working from home. If you need an update, consider providing options like better printing capabilities and individual workstations.

Modifications to common area layouts

Making changes to your common spaces doesn't always lead to full out construction, but it does mean putting more thought into it going forward. For example, lobbies may become larger or rearranged, or chairs at the pool may be more spread out.

Refreshed community events

Virtual events have been super successful over the last few months, and it's a trend I don't see going away. From trivia and movie nights to celebrating recent graduates and holidays, virtual events allow you to over-deliver in customer service and show your values as a company as you continue to build up your community.

Enhanced internal communication

What started as a necessity, has led to better collaboration and exposure to different experiences that you can incorporate as best practices in your region. Internally we've been using more communication tools now, and, as a result, we've become stronger and more efficient as a team.

Winston Rowe and Associates prepared this article, they are a national consulting firm specializing in working with commercial real estate investors. You can contact them at 248-246-2243 or visit them on-line at https://www.winstonrowe.com