The Multifamily Hangout

"Creating context for the maintenance teams is incredibly important, and it's something we've been working on for years. We know that if they ignore it, the problem still exists. I had one CTO of a major multifamily operator tell me, 'It doesn't matter what the ROI is. If my team does not follow up with action based on the data you're giving them, then we still have a problem.'" -Dean Fung-A-Wing https://lnkd.in/eqCNGx9J The full episode is in the comments below.

In the last week's episode of The Multifamily Hangout, Lisa Gunderson, MBA, CPM dives into one of the hottest topics in property management today: centralization. Is it truly the solution to streamline operations and cut costs, or just another industry buzzword? We've all heard about the potential benefits of centralization – from eliminating redundant positions to saving on payroll. But does it really deliver the promised efficiencies at an institutional level? Here's a key takeaway from our discussion: 🔹 Centralization in Back Office Roles: There is potential for centralizing administrative functions, like the assistant manager role, which can be handled from a centralized location without compromising much on service quality. 🔹 Customer Experience: A significant concern with centralization is the impact on customer experience. Unlike single-family home operations, multifamily developments have higher expectations for service and responsiveness. Imagine checking into a luxury hotel only to be told to wait because the staff is stretched thin – not the best experience, right? 🔹 AI and Future Solutions: While there's optimism around AI enhancing communication and troubleshooting, the complete centralization of people functions in property management might still be a distant goal. Join the conversation and share your thoughts on centralization. Is it the way forward for our industry, or do we need to strike a better balance between efficiency and exceptional service? https://lnkd.in/eYdTRpQz Tune in to the full episode for more insights! The link is in the comments below.

"One of the biggest insurance problems is water damage. In the U.S., around 14,000 people file insurance claims every day for water damage, making it the single largest insurance issue worldwide. Globally, the cost is about $300 billion, and in 2021, Texas alone accounted for approximately $21 billion in damages." -Dean Fung-A-Wing https://lnkd.in/eTnXkj28 More details about solving the problems caused by water damage can be found in the full podcast. The full podcast is in the links in the comments below.

Acquisitions can be a tough terrain, often marked by the clash of systems and cultures. Reflecting on Greystar's acquisition of Riverstone, Lisa Taylor sees that even industry leaders face significant hurdles. The key takeaway? Preparation and support are paramount. When Greystar, the #1 player, acquired Riverstone, the #2, they encountered unexpected challenges despite the similarities. The mismatch in systems led to days where the frustration was palpable—teams struggling because "this one system won't talk to the other." This experience taught them the importance of thorough preparation and robust support systems for smooth transitions. Lessons Learned: 1.System Integration: Ensure all systems, from single sign-on to payroll, are compatible and tested before going live. 2.Cultural Alignment: Address cultural differences upfront to foster a cohesive work environment. 3.Stay in Your Lane: Know your strengths and expand wisely. Over-promising can lead to unnecessary stress and complications. By investing time and energy into these areas, Lisa helped Greystar transformed their acquisition strategy, ensuring smoother transitions and stronger integrations. Thoughtful preparation and support can make all the difference in an acquisition. https://lnkd.in/eE_kDpKG To watch the full podcast, click on the links in the comments below.

In today’s competitive market, the way we approach maintenance recruitment and retention is critical. From a meeting last week with multifamily industry leaders, here are some key insights and strategies that leading companies are adopting to stay ahead: ✅ Streamlined Hiring Process: Speed is key. If the communication from job inquiry to hiring takes more than a week or two, we risk losing top talent. Many are living paycheck to paycheck and need immediate employment. A quick, efficient hiring process shows we value their time and urgency. ✅ Proper Tool Provision: When technicians are hired, providing them with the necessary tools right from the start—basic tools initially and more advanced tools like digital gauges over time—not only helps them perform better but also shows investment in their growth. This approach costs less than a single advertisement but pays off immensely in retention and performance. ✅ Comprehensive Training: Training should be seen as an asset, not a liability. Multifamily often lags behind other service industries in training hours. We need to emphasize continuous development to ensure our technicians are well-prepared and feel valued. ✅ Recognition and Rewards: Implementing phased rewards and recognition programs for behavior and results can significantly boost morale and commitment. Generation Z, in particular, is looking for rewarding and fulfilling career paths. Providing a clear, rewarding structure can help retain them in the trades. ✅ Internal Communication: We often focus on the external experience but neglect internal communication. Ensuring that our employees feel heard and valued is just as important. A transparent and supportive environment fosters loyalty and satisfaction. As we move forward, let’s put the necessary resources into the hands of our field teams and create an environment where they can thrive. It’s not just about filling positions; it’s about building careers and fostering growth. https://lnkd.in/gXRgZK3e The full recording of the last Multifamily Facilities Leadership Group meeting is linked in the comments below. Our group committed to fostering a community where industry leaders can share knowledge and drive meaningful change. If you’re a leader in the multifamily industry and passionate about shaping the future of property management, we’d love to have you join our group. Comment "I'm in!" or message me directly and I'll add you to our distribution list. A big shout out to all the leaders who were able to join our last meeting: Michael R Mangum, Mark Cukro, Jedd McDaniel, Paul Rhodes, Jay Abney, CPO, CAMT, NAAEI Faculty Trainer/Proctor, Jason Fein, Mark Russell, Craig Bartholomew, and Michael Mulloy. If you know of a leader who should be a part of our group, tag them in the comments 👇

We're thrilled to announce that Paul Rhodes will be our next upcoming guest on The Multifamily Hangout Podcast Live on August 8 at 3:00 pm EST. Paul's multifamily career spans 29 years, starting from humble beginnings picking up trash at a community in Roswell, GA. His journey includes working in various service-focused roles and even as a pool builder before transitioning to education. In 2005, Paul became the Lead Instructor for HD Supply Customer Training, where he revolutionized apartment education by incorporating digital facilitation tools. In 2011, he took on the role of National Maintenance Instructor for the NATIONAL APARTMENT ASSOCIATION EDUCATION INSTITUTE, delivering the Certificate for Apartment Maintenance Technician curriculum nationwide. During the pandemic in 2020, Paul joined The Life Properties as the Director of Maintenance Operations, where he wrote policies and led on-site repair operations. In June 2022, he joined Brookfield Properties as the Senior Manager of Maintenance Learning, focusing on enhancing the skills of maintenance teams. In 2024, Paul launched The Maintenance Mindset Podcast and founded Directional Maintenance Services, both aimed at developing industry professionals and expanding knowledge. Paul holds numerous designations including CAMT, CAPS, CAMT+E, CAMT+L, EPA 608 Universal, PHTA-CPO Instructor, and OSHA OTI 510+511, and is a proud member of NAAEI Faculty. Join our hosts Chris Moreno and Adrian C Danila CAPS, CAMT for an insightful discussion with Paul as we delve into his extensive experience and the future of multifamily maintenance. Don't miss out! This podcast is brought to you by Kairos Water and Coastal Painting Contractors Inc.

We are excited to announce that Jesse C. Miller, MBA, CPM®, CAPS, NAAEI, ARM®, CAM, NALP, SHCM, ACoM, will be joining us as our next guest on The Multifamily Hangout Podcast LIVE! Jesse is a nationally acclaimed real estate executive with over 20 years of property management expertise. As the Director of Real Estate for Greystar Hawaii and the Founder & President of the Pacific Housing Association, NAA’s Hawaiʻi Affiliate, he has made substantial contributions to the industry. Jesse's dedication to training and education has taken him around the world, teaching at conferences, industry associations, and academic institutions in the US, Japan, the UK, China, and Malaysia. He is also a university instructor at Portland State University, where he connects academia with industry to mentor the next generation of property management professionals. His remarkable achievements include being named a 2022 National IREM REME CPM of the Year Finalist, 2020 NAA ACE Industry Practitioner of the Year, 2019 National IREM REME ARM of the Year, and the 2018 NAA Credential Holder of the Year. Join our hosts Adrian C Danila CAPS, CAMT and Chris Moreno for another engaging live conversation. Signup link is in the comments below. 📅 Date: August 1st 🕒 Time: 3:00 PM EST This podcast is brought to you by Kairos Water and Coastal Painting Contractors Inc.

Five days ago during a session of the Multifamily Facilities Leadership Group, top industry leaders in Multifamily tackled a pressing issue in the industry: incentivizing and retaining skilled maintenance technicians. Here's a summary of our discussion: 1. Generational Challenges: •The median age of maintenance workers is still significantly higher than entry-level construction workers. •Attracting younger generations requires different strategies compared to older generations. 2.Reputation and Recognition: •Building a strong company reputation takes time but is crucial for attracting new talent. •Maintenance technicians need to feel like valued assets, not just cogs in the wheel. 3. The ACE Approach: •Appreciate: Show technicians they are important to both the property and the management company. •Compensate: Offer competitive wages to reflect their value and reduce turnover. •Educate: Provide clear career paths and opportunities for advancement. Technicians should see maintenance as a career, not just a job. 4.Career Paths: •Different technicians have different career aspirations. Some prefer mastering one role, while others seek varied experiences. •Offering diverse career paths can help meet individual preferences and retain talent. By focusing on these strategies, we can create a more attractive and sustainable environment for skilled maintenance technicians. Let's continue to appreciate, compensate, and educate to build a stronger workforce. https://lnkd.in/eUTqFTPA To watch the full recording, click on the link in the comments below. Help us spread the word to more facilities leaders by sharing this post. If you know a leader who should be a part of our group, tag them in the comments 👇

On episode 31 of The Multifamily Hangout, we had an intriguing conversation with Lisa Gunderson, MBA, CPM, VP of Asset Management at Bristol Development Group. Lisa's insights on strategic planning, technology integration, and asset management are truly inspiring. Here are some key takeaways: ✅ Embrace Change and Innovation: Lisa emphasizes the importance of future-proofing properties by anticipating technological advancements and market trends. Her approach includes incorporating flexible infrastructure like conduit for future tech upgrades and focusing on resident-centric amenities that add long-term value. ✅ Strong Relationships Matter: Effective asset management goes beyond numbers. Lisa highlights the significance of building strong relationships with third-party management companies and vendors. Trust and collaboration are essential for achieving shared goals and delivering exceptional resident experiences. ✅ Invest in People: Lisa's journey from zoo operations to multifamily asset management underscores the value of diverse experiences and continuous learning. She advocates for investing in people—both employees and residents—to foster a positive, proactive, and resilient community. ✅ Maintenance and Customer Service: Quality maintenance isn't just about fixing things; it's about preventing issues and enhancing the resident experience. Lisa's approach includes leveraging technology for proactive maintenance and ensuring maintenance teams are well-supported and valued. ✅ Leadership and Legacy: Leadership is about vision, trust, and the willingness to take risks. Lisa's commitment to mentoring and education, along with her involvement in nonprofits like Entryway, showcases her dedication to leaving a positive legacy in the industry. The full podcast is linked in the comments below.

"As an independent rental owner (IRO) today, I have an office, and we work remotely. The properties I manage are about an hour and a half away from me. Yours, I know, are even farther from you. Having really good contractors and specialized maintenance professionals on demand, and being able to really lean into technology, has been THE reason our property management company has been successful." -Smart Chick Megan Orser, CALP,HCCP CPM Candidate https://lnkd.in/ekDmJQHJ The full podcast isn't out yet- stay tuned!