The multifamily housing industry, like so many others, is witnessing a transformative period of rapid change. In order to stand the test of time, apartment operators need to stay up to date, on their toes, and prepared to address the many challenges property management companies face today.
Domuso evaluated its portfolio of national multifamily properties to uncover rent payment trends at the start of the April payment cycle as compared to March. Resident payment activity was analyzed during the first 15 days of April as residents and property owners were forced to adopt contactless payment processes.
The COVID-19 pandemic has been difficult on property management operations and resident relations, but its true economic impact may not be known for months.