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Management Trends That Matter in 2020

March 2020

With an increasing number of challenges facing the evolving multifamily housing industry, there is an ongoing need for relevant solutions for onboarding new technology, finding and retaining onsite talent, and streamlining package management. Multifamily Executive highlights a few trends to look out for this year to handle these challenges.

There will be more reliance on employee referral bonus programs, local associations, job training programs and learning management systems this year. This will target the need for recruitment and retention, and address high turnover rates within the industry.

Also relevant is the increasing amount of obligations and responsibilities within property management. From handling prospective leads to resident retention, there's a need for technology and human touch to work cohesively in managing duties.

To maximize asset values and reduce investment risk for owners, there must be a balance between the two to maintain a personalized experience while reducing the burden on onsite staff.

Package management solutions will also be increasingly present this year. Secure package rooms, including shelving units, one-time entry codes and cameras for security ensure 24-hour retrieval for residents and can minimize the office staff's workload.

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