Family and friends? Business associates? The Kardashians?
Who is your voice of reason?
After viewing the video and examining the DNA according to CSI protocol, it appears that those closely-held beliefs that we call truth may be a subconscious nod to our environment. At least that’s what studies indicate in, “Stop listening to your residents.”
The lemming concept has always fascinated me, but I would have thought that we might have outgrown it by now.
As marketeers, we focus on the psychodynamics of our residents as key indicators to delivering results. What drives them? What retains them? What divides them?
And as it turns out, even the populous itself can’t accurately identify what it wants. Hence, the difference in polling and tendered results.
You might think there are certain market principles that remain in tact throughout all economies and conditions.
Maybe not.
The lack of financing and construction starts is effectively muting the pain of the anemic jobs market, trickling household formation, and shrinking GDP by suppressing inventory.
Some might say, a perfect storm of opportunity for margin growth.
Nevertheless, operational pressures continue to pelt our spread sheets.
It seems Fair Housing awards have expanded to include harm inflicted upon the government, (“Beware of the comfort dog“), and apartment buildings are catching the purview of government conservationists (“The future of energy management in commercial buildings“).
As apartments scramble for position in this, the new normal, we have a moment in time to do it better. Create efficiencies within our operations. Become better at meeting resident needs. Create energy-efficient buildings that will stand the test of time and fluctuation.
On the big game horizon, dealmaking remains in high-gear in multifamily.
The backend of the Lehman Bros.- Archstone remnant sale is hitting high velocity as Equity and AvalonBay secure credit lines and begin to move some of their newly-acquired assets down the pipeline to prompt re-sale.
The markets continue to smile on apartments, a forbearance that is expected to continue for the foreseeable future as household formation, jobs, and capital financing trickles back.
It is more imperative than ever, that multihousing owners and operators consider their voices of reason, in this noisy, new normal.
Thank you for letting Multihousing Pro be at least one voice in your arsenal.
