LANDLORDS WILL USE PROPERTY MANAGEMENT COMPANIES In the world of property management, 2025 will see an increase in PMC/Client relationships. With the uncertainty of the housing market in recent years, an underlying level of nervousness exists. Property managers will attempt to ease that trepidation with focused transparency and availability to owners. The increased engagement will better fine tune ownership’s goals, amount of control desired, and support required, and empower the clients to their degree of comfort. In the end, higher levels of trust will exist, leading to a more cohesive owner/operator experience, increased communication, happier tenants, and a higher ROI.
INCREASED DEMAND FOR HOUSES BUILT TO RENT
OFFICE CONVERSIONS TO APARTMENTS WILL SURGE
As we look ahead to 2025, the trend of office conversions to apartments is set to gain momentum. The renovation of office buildings into multifamily developments benefits apartment owners and paves the way for more public-private partnerships. These partnerships, particularly for project- based voucher (PBV) opportunities under the Housing Opportunity Through Modernization Act (HOTMA), are crucial for the success of these office building conversions. In the realm of innovation, the rise of permanent supportive housing and workforce housing developments, guided by the best practices of mixed-income, mixed-finance, and mixed-use development, underscores the collaborative evolution of our industry.
The new competition will be houses built to rent. Purchases are still out of reach for most young people who want to have a home to raise their kids in and the privacy that comes with living in a house. This brings the continued challenge to become better at taking care of and anticipating the needs of the residents of today AND tomorrow. As automation and high tech continues to soar, so does the need for high- touch services between residents and managers and managers and owners. Keeping a schedule of collaborative get-togethers with onsite teams and continuous training is the glue to make it all work. All of this will affect your NOI, which is the only number you truly have control over as an owner.
OFFICE CONVERSIONS TO APARTMENTS IS SET TO GAIN MOMENTUM.
PROPERTY MANAGERS WILL ATTEMPT TO EASE TREPIDATION.
PURCHASES ARE STILL OUT OF REACH FOR MOST YOUNG PEOPLE.
Dena Palmer Marketing Specialist Ratner Property
Dr. Michael Threatt Principal and CEO Elevate Housing Solutions, LLC Connect with Dr. Threatt
Robyn Wonnell Multifamily Sales & Acquisitions KW Commercial Connect with Robyn
Management Visit Website
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