Embrace the technology. Many apartment owners are embracing technology to grow their business. Many are going high-tech to cater to the younger generation of renters. Internet cafes, wireless access, iPod docks, and video-gaming rooms are a few of the amenities that are rising in popularity at apartment communities across the country. Also, more multifamily owners are looking at adopting revenue management software to help maximize net operating income.
The May issue of APARTMENT FINANCE TODAY features a special section devoted to Technology and the Bottom Line to help owners and developers make their technology decisions. We take a closer look at these high-tech amenities and how developers and owners can use them to attract and retain residents. We also look at the latest trends in revenue management software and who’s using it. Also, be sure to check out the results of APARTMENT FINANCE TODAY’s annual technology survey.
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The Apartment Finance Today Index advanced again this month despite a weakened economy and more pressure on credit markets as our trading session ended May 12, 2008.
The AFT Index reflected that attitude, as the index rose 38.68 points, or 3.98 percent, and closed at 1011.12, the first time the index topped 1000 this year.
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Apartment developers are taking the plunge. In the first four months of 2008, builders started construction on new multifamily projects at a rate high above the unusually sluggish levels seen in early 2007, according to the National Association of Home Builders (NAHB).
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While Fannie Mae and Freddie Mac still have a sizable pricing advantage over conduit lenders, some early signs of recovery are taking shape.
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Outperform the competition with Yardi Voyager™ Residential, the industry’s leading fully integrated multifamily asset and property management software suite. Attend a Webinar and find out more! Click here.
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Tomorrow's wave of renters is already having a big impact on the technology amenities offered by apartment communities. The business center is morphing into an internet cafe, and many clubhouses now include wireless access, flat-panel televisions, and iPod docking stations. Some communities are starting to offer video-gaming rooms, and even barbecue areas are getting a high-tech makeover.
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The revenue management software industry continues to win more converts, although it still has miles to go before it becomes a common feature in companies of all sizes.
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Yardi, RealPage, and Intuit continue to integrate more functions in their property management suites.
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FINANCIAL TRANSACTION PROCESSING FOR MULTIFAMILY
Serving the multifamily industry nationally since 1995, NWP offers the most reliable track record in financial transaction processing solutions today. NWP’s integrated resident billing, resident payment and utility management services accelerate the financial performance of its customers, allowing them to recover and reduce operating costs, create operational efficiencies, improve NOI and FFO, and boost resident satisfaction. Reduce expenses and improve NOI. You can with NWP. Visit www.nwpsc.com for more information.
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Costa and Partners Buy Simpson Housing Solutions Portfolio
One of the nation’s largest affordable housing developers and syndicators has been purchased by the newly formed venture of MacFarlane Costa Housing Partners (MCHP).
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Take Our Latest Poll
What is your current biggest challenge to creating affordable housing -- finding land, operating costs, construction costs, NIMBYism, lower tax credit equity pricing, or obtaining affordable debt?
TAKE THE POLL
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ENTER THE 2008 MFE AWARDS
MULTIFAMILY EXECUTIVE honors the industry's best and brightest with its exclusive MFE Awards.
Don't miss the opportunity for your projects, leaders and initiatives to shine. Winners will receive recognition during the MFE Awards Gala Luncheon on October 14th at the MULTIFAMILY EXECUTIVE Conference in Las Vegas. Winning projects will also be highlighted in the October or November issues of MULTIFAMILY EXECUTIVE and the November/December issue of DEVELOPER or online. For more info and to enter, visit www.mfeawards.com.
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HOUSING FINANCE BLOG
Read about deals, subsidies, gossip, taxes, and sneaky fine print in the world of rental real estate, from the editors and writers of APARTMENT FINANCE TODAY here.
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