The multifamily industry has undergone a significant shift toward centralization as slowed rent growth and general market uncertainty have many owners prioritizing optimizing internal operations to cut costs and create greater efficiencies.
During RET Ventures’ second annual “Multifamily Kickoff Summit” at the Blueprint event in Las Vegas last month, RET Partner Christopher Yip moderated a panel entitled “Centralized Property Operations: Creating Efficiencies Across Leasing, Maintenance, and Broader Property Operations,” featuring panelists Josh Glastein, CTO of Berkshire Residential; Elik Jaeger, CEO & Founder of SuiteSpot; Andy Larson, CRO of Tour24; and Fred Schreiber, EVP & COO of AMLI Residential.
In the discussion, panelists explored the driving forces behind centralization, including economic challenges, labor costs and shortages, and a desire to enhance the resident experience. Panelists also dove into the specific ways centralization is solving challenges throughout leasing and maintenance, enabling owners to create more consistency in their operations and utilize their resources in smarter ways.
In concluding the session, the experts shared thoughts on which currently underserved areas of multifamily management would benefit the most from centralization, leaving the audience with a holistic understanding of the current innovations within the sector and where the asset class is headed in the years to come.
Watch the full session below: