I sometimes wonder if landlords aren’t single-handedly holding this economy together. And after reading Peggy Shaw’s cover story, “Landlords Rule,” I would almost bet the farm that we do.
Except that the farm isn’t worth a whole lot right now, so I’ll hold the wager to myself. Strong fundamentals, constrained supply and the lion’s share of jobs are going to our residents and future residents, meaning that the multifamily horizon will be favorable for the foreseeable future.
In the meantime, while the tide is high in many markets, it is left to us to run our operations to their greatest potential, and remain vigilant to the fast-changing landscape of apartment operations, and those complexities facing our businesses.
A wide sweep of regulation-federal, state and local-on everything from utility usage to recycling to the new environment of electric cars, rising energy costs and the race for green, all come at a price. And it’s usually shouldered by the landlord. It’s critical that we remain engaged legislatively as the first step to managing the rising cost of doing business.
Please consider Mary Nitschke’s (Prometheus Real Estate Group) invitation to join the Utility Management Advisory to stay in front of these changes and be part of a consortium of individuals focused on what these changes mean for the operating standards of multifamily. See her open letter.
I also look forward to seeing you in Boston at the National Apartment Association Educational Conference. It’s a great time to educate, celebrate, and appreciate our industry.