Patrick Antrim | Multifamily Innovation® Summit

Standardized and Normalized Data in the Multifamily Industry

Today on the Multifamily Innovation® Show, Patrick Antrim discusses the importance of standardized and normalized data in the multifamily industry with Elizabeth Braman, Co-Founder and CEO of Revolution RE. Elizabeth’s company provides tactical insights and reporting for peak apartment performance.

The episode also includes announcements for the Multifamily Innovation® Summit and the Multifamily Innovation® Council, which provides support and networking opportunities for owners and operators of 1,500 units or more.

Patrick and Elizabeth discuss how using data for benchmarking, resident experience analysis, and risk management can help improve apartment property performance and retention. This includes analyzing year-over-year performance, team productivity, performance metrics, online reviews, sentiment, and emails to determine the health of a particular multifamily property. Data can be used to identify opportunities or potential weaknesses in multifamily property performance for risk management purposes.

Other use cases for data include multifamily revenue growth, testing new technologies, and regulatory compliance. By having standardized data in the same environment and format, comparative analysis can be done to improve upon current practices and learn from the competitive set.

Additionally, today’s episode delves into the benefits of offering apartment amenities and experiences to residents, which can enhance their overall experience and increase retention. One way to measure their impact is by analyzing online reviews, which are the primary means by which most people find housing these days, especially within the multifamily industry. Positive reviews can lead to increased traffic from online leads, while negative reviews can have the opposite effect. Although determining the value of these offerings can be difficult, it is crucial to consider their overall impact on resident experience and retention.

Elizabeth stresses the importance of having a structured and focused data strategy for multifamily companies to effectively use data and achieve results. She recommends starting by identifying which data sources to work with and setting achievable, measurable, and worthwhile goals. She also emphasizes the importance of involving everyone in executing the plan and committing to training and exploration.

Time Stamps:
[00:06:53] Clean data for AI applications.
[00:09:55] Thinking about data today in the apartment industry.
[00:13:01] Standardizing data for comparative analysis.
[00:19:40] Using data to prove the multifamily business model.
[00:28:47] Predictive analytics in real estate.
[00:33:25] Rental property data challenges.
[00:35:00] Small clients benefit from data.
[00:43:17] Building a consistent multifamily brand.
[00:44:09] Predictive models in property management.
[00:48:26] Increasing value of products.
[00:52:33] Responding to negative reviews.

Resources:
Revolution RE – https://revolutionre.com/
Elizabeth Braman – https://www.linkedin.com/in/elizabethbraman/
Patrick Antrim – https://www.linkedin.com/in/patrickantrim/
Multifamily Innovation® Summit – https://multifamilyinnovation.com/
Multifamily Innovation® Council – https://multifamilyinnovation.com/multifamily-innovation-advisory-council/

Multifamily Innovation® and the Role of Digital Transformation

Welcome to the newest episode of The Multifamily Innovation® Podcast, your go-to platform for gaining an edge in the multifamily apartment industry. This episode is hosted by Patrick Antrim, the Founder, and CEO of Multifamily Leadership. In this episode, we are excited to share some key announcements and introduce our guest, Steve Jarvis, the CEO of CredHub.

We’re delighted to announce that the planning for the Multifamily Innovation Summit is in full swing. This event is a gathering of multifamily investors, developers, operators, and third-party managers committed to driving innovation within the industry. Registration is now open, and you can register today at MultifamilyInnovation.com.

Among our exciting line-up of activities, we have the Multifamily Innovation Awards show, celebrating categories from the esteemed Best Places to Work Multifamily® to the Multifamily Innovation® Bootstrapper award. Our Innovation Showcase, exclusive talks with the Multifamily Innovation Council, and high-level networking events are also not to be missed.

If you’re an owner or operator of 1,500 units or more, be sure to check out the Multifamily Innovation® Council. This initiative is not just about technology; it focuses on the processes, leadership, and innovation necessary to enhance business performance.

In this episode, we’re thrilled to welcome Steve Jarvis, the CEO of CredHub. Steve has an impressive background in travel, having worked for Expedia and Alaska Airlines, always being on the cutting edge of technology. His present focus is on CredHub, a company dedicated to reducing rent delinquency and providing substantial value to residents.

Episode Highlights:

Patrick and Steve delve into Steve’s experience at Expedia and Alaska Airlines and his leadership role in digital transformations.
They discuss the mission and benefits of CredHub and how it’s reshaping the property management sector within the multifamily industry.
Patrick and Steve examine the opportunities for the apartment industry to adapt to emerging technologies, referencing Steve’s experiences in large legacy brands.
Steve explores the challenges and solutions for catalyzing business innovation within established multifamily companies.
The episode includes an in-depth Q&A with Steve, where we explore his journey from Alaska Airlines and Expedia to co-founding CredHub, discuss the challenges he faced while leading digital transformations, talk about his approach at CredHub, and probe his thoughts on how to encourage innovation in the multifamily industry.

Thank you for tuning in to The Multifamily Innovation® Podcast. We look forward to bringing you more insightful conversations and innovative insights in future episodes.

Connect:
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/
Steve Jarvis: https://www.linkedin.com/in/sbenjarvis/
CredHub: https://credhub.com/
Steve’s Email: sjarvis@credhub.com
CredHub Phone: (833) 888 2733

Multifamily Innovation® Advisory Council Welcomes Clay Llewellyn

May 19, 2023 – SCOTTSDALE, AZ – Multifamily Leadership announced that Clay Llewellyn, Chief Operating Officer at Income Property Specialists, has joined the Multifamily Innovation® Council. The Multifamily Innovation® Advisory Council is a community of multifamily investors, developers, operators, and third-party managers dedicated to driving innovation in the industry.

Llewellyn brings over 10 years of multifamily experience in operations to the council. His expertise in organizational development and effectiveness will be valuable assets to the council as it works to identify pain points and explore solutions within the multifamily industry.

Clay Llewellyn joins the Multifamily Innovation® Council

“Participating in the Multifamily Innovation® Council meetings has been incredibly valuable. The primary emphasis of our discussions has been problem-solving and finding effective solutions, in contrast to my previous experiences with similar groups that tended to prioritize self-promotion. It is reassuring to discover that the challenges our business faces are shared among other organizations, providing a sense of comfort and support,” said Llewellyn.

Clay Llewellyn has been with Income Property Specialists for over 8 years and prior to that, he was with Laramar Group. His Certified Apartment Manager designation and prior experience as a property manager, allows Llewellyn to bring a wealth of knowledge to the Council regarding on-site roles and responsibilities as well as executive-level insight. Having received his undergraduate degree from Arizona State University, he went on to receive his Master’s Degree in Industrial and Organizational Psychology from Grand Canyon University.

“We are thrilled to see such tremendous growth in our community,” stated Patrick Antrim, the council’s Chairman. “Our mission is to support the growth and development of multifamily businesses, and we are committed to providing our members with the resources and opportunities they need to succeed. We believe that innovation is key to driving progress in the industry, and we are dedicated to using our proprietary framework to identify pain points and explore solutions.”

Council members enjoy access to weekly meetings, a private community, and an annual in-person summit, as well as the opportunity to share insights and learn from a diverse group of successful multifamily owners and operators. Membership is open to those who own or manage a minimum of 1,500 units multifamily apartments.

Kerry W. Kirby, Chair of Technology Initiatives for the Multifamily Innovation® Council, added, “Clay is a great addition to the council, and we are excited to have him join our group. His expertise and industry experience will be a valuable addition to our members.”

Antrim concluded, “While technology is important, it’s not the only aspect to consider. To improve our businesses, we need to focus on processes, leadership, and innovation. We are committed to supporting our members as they grow and expand their operations, and we invite others to join us in driving innovation across the industry.”

For more information about the Multifamily Innovation® Council, please visit multifamilyinnovation.com/council

Media Contact:
Patrick Antrim
480-719-4409
patrick@multifamilyleadership.com

Source: Multifamily Leadership

Organic Renewal Strategy for Apartment Leasing

In today’s episode of the Multifamily Innovation® Podcast, we dive into the value of fitness programs inside your apartment community and how one company is catching momentum from some top brands in Multifamily.

Host, Patrick Antrim, talks with the Founder of Swyft Fitness, Will Gonzalez who is rethinking what is possible for fitness programs at multifamily properties across the nation.

Overview of the episode:

Will shares the inspiration behind the company and the gap it fills in the multifamily market.
Swyft Fitness is a boutique fitness concept that differs from traditional gym experiences. The emphasis on camaraderie and community is essential and plays a significant role in their fitness experiences.
Gonzalez realized that group fitness centered around resident retention and residents being able to meet one another was definitely a new concept.
Swyft Fitness collaborates with property managers and developers to integrate fitness programs into apartment communities and employs a strong network of fitness instructors in all of their markets to ensure the best possible experience for apartment residents.
Gonzalez personalizes all of the fitness amenities and onsite experiences to accommodate the specific properties’ needs. Whether it’s virtual or onsite, team members are present and will help property managers get the most use out of the apartment community amenities, like the gym, pool, clubhouse, and outdoor areas.
A core mission of Swyft Fitness is to educate and encourage property managers and owners to see their entire property, surrounding hiking trails, and even community events that are centered around lifestyle, health, and fitness as resident retention strategies.
Swyft is integrated with all the third-party credentialing software companies out there to make a smooth transition and they cover all of the insurance and onboarding credentialing that’s required for almost every property management.
Swyft also handles all of the marketing materials and online booking. They do all of the heavy lifting so apartment property managers don’t have to.
Gonzalez offers advice to property managers, developers, and corporate HR professionals on the value of multifamily fitness amenities.

Connect:
Will Gonzalez: https://www.linkedin.com/in/will-gonzalez-swyftfitness/
Swyft Fitness: https://app.swyftfitness.com/apartment-fitness-classes
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

Engage:
Register for the Multifamily Innovation® Summit now: https://multifamilyinnovation.com/
Apply to be a part of the Multifamily Innovation® Advisory Council: https://multifamilyinnovation.com/multifamily-innovation-advisory-council/

Unveiling Trends and Differentiators: A Deep Dive into the Best Places to Work Multifamily®

In this episode of The Multifamily Innovation® Podcast, host, Patrick Antrim, CEO of Multifamily Leadership, takes a deep dive into the Year-on-Year (YOY) trends among the Best Places to Work Multifamily®, and the key differentiators that set these companies apart.

What you’ll learn in this episode:

The increasing emphasis on Inclusion among the Best Places to Work Multifamily®, including a rise in seminars, workshops, and Inclusion Task Forces.
The growth in Professional Development opportunities, with more companies reimbursing employees for certifications, business education, workshops, and tuition.
The emerging trend of special services or accommodations for military families.
The decline in companies providing workplace facilities for exercise and fitness, and the slight drop in remote working among Best Places to Work Multifamily® employees.
A marginal dip in employee evaluations of their employers’ performance, with specific concerns around benefits packages, timely communication, and staffing levels.

Key differentiators of the Best Places to Work Multifamily®:

Superior benefits programs, including retirement planning, life insurance coverage, disability benefits, and tuition reimbursement.
A higher level of trust between employees and leadership, with leaders demonstrating genuine care for their employees’ well-being.
A safer environment for employees to express their honest opinions without fear of negative repercussions.
Greater likelihood of offering paid time off for community service, reimbursement for certifications, business education, and tuition.

About the Multifamily Innovation® Summit:

Find out more about the Multifamily Innovation® Summit taking place in December, where the winners of the Best Places to Work Multifamily® program will be celebrated.

Visit MultifamilyInnovation.com/awards for more details on the Best Places to Work Multifamily® Program.

Visit MultifamilyLeadership.com to see all events, news, and insights in multifamily.

Enjoy the show, and don’t forget to subscribe to stay updated on the latest trends and insights in the multifamily apartment industry.

Taking Action Outside Your Comfort Zone in Multifamily

In this episode of the Multifamily Innovation® Podcast, host Patrick Antrim delves into the power of stepping outside our comfort zones in order to spark innovation and success within the multifamily industry.

Show Notes:

Introduction: Patrick emphasizes the importance of taking action outside our comfort zones in order to foster innovation within multifamily organizations.

Challenges: Often, individuals may feel reluctant to take risks and try new things within their organizations, especially when their past experiences resulted in failure.

Multifamily Innovation® Summit: Patrick highlights the annual event, which brings together individuals making rent more valuable for customers, and showcases the Multifamily Innovation® Awards, including categories such as Best Places to Work and Bootstrapper Award.

Multifamily Innovation® Council: A platform for high-level networking among multifamily operators with 1500 or more units, providing a feedback loop and shaping the priorities and interests within the industry.

Importance of innovation: Patrick shares a personal story of investing in media and video equipment before the COVID-19 pandemic, which helped his business pivot and stay ahead of the curve during difficult times.

Learning from past decisions: Reflecting on decisions that were made by stepping outside comfort zones and recognizing that these actions have the potential to lead to significant growth.

Taking action: Encouragement to consider decisions that have been put off due to discomfort, and managing potential worst-case scenarios in order to grow in personal and professional lives.

Getting involved: Listeners are encouraged to follow the Multifamily Leadership brand, attend events, and get involved in industry discussions.

Closing: Share the episode with friends, subscribe, rate, and review the podcast to help increase its visibility and promote valuable content to other multifamily professionals.

Don’t miss the next episode of the Multifamily Innovation® Podcast, where Patrick continues to explore innovation and growth in the multifamily industry. Subscribe and follow at multifamilyinnovation.com.

Digital Rent Collection: Strategies and Insights for Apartment Owners

In this episode of the Multifamily Innovation® Show, Patrick Antrim talks with Mark Peters, the President of Zego.

Mark previously was the head of finance, payment operations, and business systems departments and has over 10 years of finance experience in the high-tech and payments space, resulting in an IPO and multiple positive exits.

Patrick and Mark discuss their thoughts on macro and micro economic factors that multifamily owners, operators, and investors are having to deal with today.

Topics covered:

Trends in rent collections and various payment types at multifamily properties.
Digital adoption in the multifamily industry, especially with regard to payment operations and business systems.
Legal and economic challenges with multifamily rent payments.
What you might not know about the most costly payment option and the risks associated with it.
Digital-first experiences and paperless offices.
Questions multifamily owners and operators should be asking partners like Zego.
Much more!

Connect:
Mark Peters: https://www.linkedin.com/in/markdavidpeters/
Zego: https://www.gozego.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/Get Involved:
Attend/Sponsor the Multifamily Innovation® Summit: https://multifamilyinnovation.com/
Join the Multifamily Innovation® Council: https://multifamilyinnovation.com/multifamily-innovation-advisory-council/
Submit for a Multifamily Innovation® Award: https://multifamilyinnovation.com/awards/
Attend/Sponsor the Multifamily Women® Summit: https://multifamilywomen.com/

Beyond Excel: Unlocking the Power of Decision Intelligence in Multifamily Property Management

The Multifamily Innovation® Show brings you the latest insights and strategies to help you succeed in the multifamily real estate industry.

Our guest for this episode is Briant Carcamo. He’s the Co-CEO of Vizibly and a seasoned real estate professional with an impressive track record in revenue management, budgeting, and business intelligence at some of the largest multifamily property management firms, including Steadfast and Greystar.

In this episode, Patrick and Briant discuss:

How the collision Briant brings with Silicon Valley and an inside knowledge of the realities of putting deals together has helped him build Vizibly.
What inspired Briant to create a decision intelligence platform for multifamily property owners.
Who this product is for and how it impacts multifamily productivity and efficiency.
How Vizibly helps property owners manage their investments.
The features, benefits, and unique attributes of Vizibly.
What multifamily property owners are saying about Vizibly, how they're benefitting from the technology, and how they've been successful with implementation.
What's in store for Vizibly in the future, challenges faced while developing the software, and Briant's advice for property owners looking for multifamily financial budgeting tools.

Connect:

Website: https://www.vizibly.io/
Email: briant@vizibly.io
Briant on LinkedIn: https://www.linkedin.com/in/briantcarcamo/
Patrick on LinkedIn: https://www.linkedin.com/in/patrickantrim/

Register:

For the Multifamily Innovation Summit: https://multifamilyinnovation.com/tickets

Lloyd Companies VP, Ashley Lipp, Joins Industry-Leading Multifamily Innovation® Advisory Council

March 8, 2023 – Scottsdale, AZ — Multifamily Leadership is pleased to announce Ashley Lipp, Vice President of Residential Property Operations at Lloyd Companies, has joined the Multifamily Innovation® Advisory Council. This esteemed council is made up of industry leaders and innovators who come together to share their expertise and insights on the multifamily industry.

Lipp states, “I’m excited to join this group of multifamily professionals which has already proven to offer invaluable insight on the opportunities and challenges our industry faces. I have connected with several new colleagues and believe the networking opportunities this group offers will greatly benefit both my professional growth and Lloyd Companies as a whole.”

As a member of the council, Lipp will provide valuable insight and expertise in the multifamily industry, bringing her wealth of experience and knowledge to the table. Lipp leads the Residential Property Management team at Lloyd Companies, overseeing more than 8,500 multi-family units in the portfolio.

“Ashley is already a vital member of our Council, and we are thrilled to have her expertise and contributions to the industry,” said Chairman, Patrick Antrim. “We have no doubt that she will bring valuable insights and ideas to the Multifamily Innovation® Advisory Council.”

Lipp is passionate about helping others achieve their professional goals and development, and is dedicated to empowering her team at Lloyd Companies. In her role as Vice President, she guides the Residential Property Management team in all of their functions and leads the vision, operations, and training for the division.

In addition to her professional pursuits, Lipp is dedicated to her personal interests and enjoys spending time with family and friends, as well as playing competitive sports. She received her education from the University of South Dakota, where she studied Contemporary Media & Journalism.

“It’s not just about technology,” said Antrim. “It’s about the processes, leadership, and innovation required to make the business better. We are excited to continue supporting our members as they build and scale their businesses, and we welcome new members to join us in driving innovation in the multifamily industry.”

For more information about the Multifamily Innovation® Advisory Council, please visit https://multifamilyinnovation.com/multifamily-innovation-advisory-council/.

Media Contact:
Patrick Antrim
480-719-4409
patrick@multifamilyleadership.com

Source: Multifamily Leadership

The Importance of Due Diligence for Apartment Building Owners and Operators

As an owner or operator of an apartment building, there are many important factors to consider when evaluating a potential acquisition. One often overlooked area is the property’s risk of storm damage and the importance of understanding its insurance claims history. This is where due diligence comes in, and why it’s crucial to have experts on your side.

Many buyers focus solely on the financials of a potential acquisition, but neglect to investigate the property’s insurance claims history. This can be a costly mistake, as storm damage can result in significant expenses that can eat into profits. However, by thoroughly examining the multifamily property’s claims history, owners and operators can identify unreported or uncovered claims that can provide the funds needed for capital improvements.

This is where having experts in your corner, such as our client WeatherShield, can be invaluable. These experts can help owners and operators navigate the complex world of insurance claims, ensuring that all claims are properly reported and that the maximum amount of funds are recovered.

“You would never want to go into an insurance claim on a high-dollar value property without an expert that understands damage identification. Someone who understands the insurance processes, the estimating, the evaluation, and how to handle large-scale commercial projects,” says Founder of WeatherShield, Marc Ness.

In addition to the potential for hidden capital improvement dollars, owners and operators need to be aware of the risk of storm damage to their property. This is especially important in areas prone to hurricanes, tornadoes, or other severe weather events. Understanding the property’s risk of storm damage and taking steps to mitigate that risk, such as reinforcing the building’s envelope or installing storm shutters, can help prevent damage and ensure that the property remains safe for its residents.

In the event that damage does occur, having experts on your side can be crucial in ensuring that the insurance claims process goes smoothly. This can be a complex and time-consuming process, but with the help of experts, owners and operators can recover the funds needed to make necessary repairs and improvements.

Due diligence is a critical part of the acquisition process for apartment building owners and operators. Understanding the property’s risk of storm damage and thoroughly examining its insurance claims history can help identify hidden capital improvement dollars and prevent costly surprises down the road. Additionally, having experts on your side can ensure that the insurance claims process goes smoothly, providing the funds needed to make necessary repairs and improvements. By prioritizing due diligence and partnering with experts, owners and operators can make informed decisions and protect their investments.

Connect with Marc Ness on LinkedIn: https://www.linkedin.com/in/marc-ness-101bbb7a/

Visit the WeatherShield Website for more information: https://weathershieldpro.com/

All posts by : Patrick Antrim