Preparing to open a new community involves a lengthy task list for multifamily owners and operators. However, the ultimate determinant of a community’s success is its ongoing marketing plan, which should be in place long before the doors open. This year, as record supply is scheduled to deliver, having an effective marketing strategy is even more critical.
Jenson is the Chief Property Officer at P.B. Bell, one of the oldest multifamily management firms in the Phoenix metro area. She joined the company in October, succeeding Debbie Willis, who retired after 40 years with the firm.
Retrofitting multifamily properties for energy-efficient upgrades may not be a favorite financial topic for property owners and managers, particularly when existing building systems appear to be functioning adequately and the costs of new systems entail substantial capital investments.
The Texas real estate market has always been dynamic, and as we look ahead to 2024, multifamily property owners are exploring ways to enhance their investments. One key strategy that promises significant returns is interior renovations.
Christina Steeg, who assumed the role of Senior Vice President of Marketing and Communications at Waterton in July 2022, elaborates, "We are in the process of updating all our virtual floor plans to highlight unique alcoves and dens as potential work-from-home spaces. We are also capturing new virtual tours of our communal co-working areas to ensure we integrate this aspect into all our marketing efforts."
As the rapid surge in demand witnessed in recent years begins to taper off and fresh supplies flood the market, multifamily communities are doubling down on their efforts to enhance resident retention.