AI for Multifamily Innovation and Data-Driven Success

In this episode of the Multifamily Innovation® Podcast, host Patrick Antrim engages with Mukund Chopra, a serial entrepreneur and early investor in companies like Groupon and Slack. Mukund shares his insights on leveraging technology and data to enhance business efficiency in the multifamily industry. The conversation delves into the core purpose of a company, emphasizing the importance of maximizing return on equity through efficient resource deployment.

Mukund explains the significance of data ownership and its transformative potential when combined with AI, highlighting that the most valuable companies today are those that can access and unlock their data effectively. He provides a nuanced perspective on when not to use AI, stressing that its application should be strategic and not just a trend-driven decision.

Mukund recounts his experiences in various industries, including his leadership role at Groupon during its historic IPO and his work in big data and AI. He discusses how conversational AI and machine learning have been integrated into business processes long before the current hype, advocating for a thoughtful approach to adopting new technologies.

The episode covers practical frameworks for identifying areas where AI can add value, emphasizing the importance of starting with first principles thinking. Mukund also talks about the cultural shift required within organizations to embrace efficiency and innovation. He shares examples from his current venture, Blue Lake, which helps multifamily operators monetize customer data without invasive practices, illustrating how data can be a significant asset beyond traditional real estate operations.

The discussion wraps up with reflections on the evolving nature of companies, comparing traditional resource-based models with modern data-driven enterprises. Mukund underscores the need for multifamily leaders to view technology as a critical component of their business strategy, not just an IT function.

Overall, this episode offers a masterclass in understanding the intersection of technology, data, and business efficiency, providing valuable insights for multifamily executives looking to innovate and stay ahead in a competitive market.

About the Multifamily Innovation® Council:

The Multifamily Innovation® Council is the executive level membership organization that makes a difference in your bottom line, drives a better experience for your employees, and allows you an experience that keeps demand strong for your company. The council is uniquely positioned to focus on the intersection of Leadership, Technology, AI, and Innovation.

The Multifamily Innovation® Council is for Multifamily Business leaders who want to unlock value inside their organization so they can create better experiences and drive profitability inside their company.

To learn more or to join, visit https://multifamilyinnovation.com/council.

For more information and to engage with leaders shaping the future of multifamily innovation, visit https://multifamilyinnovation.com/.

Connect:
Multifamily Innovation® Council: https://multifamilyinnovation.com/council/
Multifamily Innovation® & AI Summit: https://multifamilyinnovation.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

AI and Data: Better Apartment Investing

Leverage the full potential of your Multifamily Real Estate investments with insights from Elizabeth Braman, CEO of RevolutionRE.

As our special guest, Elizabeth unravels the complexities of AI and data standardization in apartment investing, offering strategies for multifamily businesses looking to enhance their efficiency. We delve into the ways companies can align their data strategies with their overarching goals, transforming the way we think about property investment and management.

Navigating the often-treacherous terrain of data integration, our conversation with Elizabeth Braman focuses on creating a seamless and scalable system that can stand the test of time.

She highlights the importance of crafting KPIs that truly reflect a company’s performance and the critical nature of involving the entire team in the data journey.

We also tackle the real-world challenges that crop up when trying to wrangle various data sources into a single, coherent entity, particularly in the Multifamily Real Estate industry where standardization can feel like a distant dream.

Rounding out our deep-dive into the data-centric world of Multifamily Real Estate, Elizabeth sheds light on the game-changing impact of her innovative approaches to data standardization and the role AI plays in revolutionizing the multifamily industry.

We explore how historical data reveals more than just past performances.

Connect with Elizabeth Braman

Thank you for tuning in to today’s episode. If you found value in our conversation, please subscribe to our podcast on your favorite platform and leave us a rating and review.

Your feedback not only helps us improve but also helps others find us. And if today’s episode sparked a thought or provided a new insight, consider sharing it with a friend who might also benefit.

Together, we can grow our community and continue to learn and innovate. Thanks for listening, and until next time.

About the Multifamily Innovation® Council:

The Multifamily Innovation® Council is an executive level membership organization dedicated to the pursuit of the profitable Multifamily Company. We focus on the intersection of multifamily innovation, AI, technology, and leadership—emphasizing results and collaboration for business leaders determined to discover internal value, providing better experiences, and boosting company profitability.

To learn more about the Multifamily Innovation® Council or to join, please visit https://multifamilyinnovation.com/council.

For more information and to engage with leaders shaping the future of multifamily innovation, visit https://multifamilyinnovation.com/. The platform and its events, including the Multifamily Innovation® & AI Summit, continue to drive critical discussions and innovations in the multifamily industry.

Connect:
Multifamily Innovation® Council: https://multifamilyinnovation.com/council/
Multifamily Innovation® & AI Summit: https://multifamilyinnovation.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

Integrated Multifamily Systems for Improved Resident Experiences

In this episode of the Multifamily Innovation® Podcast, Patrick Antrim, Founder and CEO of Multifamily Leadership, and Chairman of the Multifamily Innovation® Council speaks with Konrad Koczwara, CEO and Founder of Elevated Living and Multifamily Innovation® Council Partner about leveraging technology to optimize multifamily operations.

This discussion explores the trajectory of Elevated Living from its inception to its role in growing nationwide. The conversation delves into the company’s initial focus on fitness services and its strategic pivot to a tech-centric solution for operational inefficiencies in the multifamily industry.

This episode emphasizes the importance of integrated systems to streamline operations and improve resident experiences, as part of the Multifamily Innovation® Council’s focus on industry advancements. Konrad outlines how Elevated Living addresses the challenge of multiple resident portals by creating unified access to various amenities, demonstrating the company’s commitment to enhancing property management processes and resident satisfaction.

The podcast also previews future trends, including Elevated Living’s recent innovations like automated grocery delivery and food ordering systems tailored for multifamily residents, offering practical solutions with reduced fees. These developments are presented as part of the conversation at the Multifamily Innovation® & AI Summit, highlighting the event as a key platform for industry leaders to explore technological advancements and strategic partnerships.

This episode is a valuable resource for multifamily executives interested in adopting technology to enhance operational efficiency and resident services. It provides insights into how companies like Elevated Living are pioneering changes in the multifamily industry, making it a must-listen for those aiming to maintain competitive advantage in a rapidly evolving market.

About the Multifamily Innovation® Council:

The Multifamily Innovation® Council is an executive level membership organization dedicated to the pursuit of the profitable Multifamily Company. We focus on the intersection of multifamily innovation, AI, technology, and leadership—emphasizing results and collaboration for business leaders determined to discover internal value, providing better experiences, and boosting company profitability.

To learn more about the Multifamily Innovation® Council or to join, please visit https://multifamilyinnovation.com/council.

For more information and to engage with leaders shaping the future of multifamily innovation, visit https://multifamilyinnovation.com/. The platform and its events, including the Multifamily Innovation® & AI Summit, continue to drive critical discussions and innovations in the multifamily industry.

Connect:
Multifamily Innovation® Council: https://multifamilyinnovation.com/council/
Multifamily Innovation® & AI Summit: https://multifamilyinnovation.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

multifamily innovation and ai summit

Multifamily Innovation® Launches Multifamily AI Summit

Phoenix, AZ – March 5, 2024 – Multifamily Innovation® announces the launch of the Multifamily Innovation® AI Summit. This pivotal event will take place in Phoenix, AZ, December 4-5, 2024, marking a significant milestone for multifamily owners, operators, and investors.

The Multifamily Innovation® and AI Summit is distinguished by its unique focus on artificial intelligence, technology, and innovation, tailored specifically for the multifamily industry. This initiative is supported by the ongoing efforts of the Multifamily Innovation® Council, which meets weekly to explore advancements and tackle challenges within the industry. The Multifamily AI summit provides comprehensive support through the MultifamilyAiPodcast.com, webinars, and expert discussions, culminating in an in-person event that showcases the latest products and innovations.

The Multifamily AI Summit is committed to exploring how AI can enhance efficiency and profitability within multifamily business workflows. It aims to bridge the technical aspects of AI with its practical applications, enabling businesses to transform their operations, improve customer experiences, and achieve substantial growth.

The pace of innovation often outstrips the capacity of any single individual within a company to keep up. Multifamily Innovation® recognizes this challenge and is leading the charge towards a future where innovation becomes a cornerstone of business strategy. By stepping outside traditional boundaries, we are poised to unlock unprecedented levels of efficiency and growth. 

“As we navigate the complexities of the multifamily industry, it’s clear that the path forward is paved with AI, innovation and technology. At Multifamily Innovation®, we’re not just observers of change; we’re architects of it. Our aim is to equip multifamily leaders with the tools and insights necessary to transform challenges into opportunities. By fostering a culture of continuous innovation and leveraging the power of AI, we’re setting the stage for a future where efficiency, sustainability, and profitability are not just goals, but realities for every multifamily business. Together, we’re not just building better businesses; we’re shaping the future of living,” stated Patrick Antrim, Chairman of the Multifamily Innovation® Council.

The Multifamily Innovation® and AI Summit will showcase ways in which AI and automation can be seamlessly integrated into your company’s operations, transforming technology from a simple tool into a powerful lever of success.

This approach to leveraging technology mirrors our broader vision for the multifamily industry: to not just keep pace with innovation, but to be at the forefront, driving it. At the Multifamily AI summit, we’ll explore how adopting and adapting to technological advancements can provide companies with a distinctive competitive edge, much like the financial strategies that have traditionally powered growth and stability. 

Join us to discover how your organization can harness the transformative power of AI and automation, paving the way for a future where technology and strategy converge to create unparalleled opportunities for innovation and profitability.

This event serves as a platform for multifamily investors, owners, operators, and executives to engage with the future of the industry. It emphasizes the use of AI and technology to drive meaningful improvements in business performance, operational efficiency, and customer satisfaction.

We invite you to join us for this transformative experience. Whether you are seeking a competitive advantage, eager to explore new technologies, or looking to connect with industry leaders, the Multifamily Innovation® and AI Summit is the place to be. Don’t miss this opportunity to influence the future of the multifamily industry.

With already 52% of our capacity reserved, the Multifamily Innovation® and AI Summit is quickly approaching full attendance and will sell out. Reserve your spot or sponsorship now to ensure your participation in this pivotal summit. Spaces are filling up faster than anticipated.

For more information and to register, visit Multifamily AI Summit

About Multifamily Innovation®:

Multifamily Innovation® is an executive level membership organization dedicated to the pursuit of the profitable Multifamily Company. We are uniquely positioned to focus on the intersection of Leadership, AI, Technology, and Innovation. We are about Innovation that makes the business better. Not for the sake of doing something new but because it makes a difference in the bottom line, drives a better experience for our employees, and allows for an experience that keeps demand strong for our companies. Multifamily Innovation® is for Multifamily Business leaders who want to unlock value inside their organization so they can create better experiences and drive profitability inside their company.

For media inquiries or further information, please contact:

Media Contact:
Email: pr@multifamilyleadership.com
Source: Multifamily Leadership

The Multifamily AI Summit Is Here

Prepare to mark your calendars and join the revolution at the cutting edge of technology and Multifamily Real Estate as I, Patrick Antrim, unveil the game-changing Multifamily Innovation® AI Summit.

Imagine an industry where artificial intelligence propels profitability and productivity to unprecedented heights – that’s the future we’re crafting at the Multifamily Innovation® Council.

Throughout this episode, I share electrifying details about how our upcoming December event will merge AI effortlessly into the multifamily company, enhancing not only business outcomes but also enriching employee and customer experiences.

As we walk through the council’s commitment to leadership and innovation, you’ll learn how our regular gatherings, webinars, and podcasts keep the pulse of transformation alive year-round.

This is more than just an announcement; it’s an exclusive invitation to a trailblazing congregation of AI enthusiasts and innovators.

If your heart beats for AI, whether you’re taking your first steps or are in the midst of product development, this segment signals a pivotal moment for your involvement.

The Multifamily Innovation® AI Summit isn’t just an event; it’s an opportunity to be at the forefront of an industry evolution, shaping the future of multifamily living. 

By joining this focused summit, you’ll be aligning with stakeholders who prioritize technology as a tool for progress, all while we dissect the challenges at hand and explore technological solutions that put you ahead in the AI revolution.

Connect:

Patrick Antrim: https://www.linkedin.com/in/patrickantrim/
Multifamily Innovation® Council: https://multifamilyinnovation.com/council/
Multifamily Innovation® Summit: https://multifamilyinnovation.com/
Multifamily Women®: https://multifamilywomen.com/

The Biggest Obstacles to Healthy Apartment Cash Flow

In this episode of the Multifamily Innovation® Podcast, host Patrick Antrim provides an inside look at the most recent meeting of the Multifamily Innovation® Council. This Council is open to multifamily owners and operators with 1,500 units or more who are dedicated to driving innovation in the multifamily industry.

The episode delves into the significance of comprehending the financial impact of a multifamily business and utilizing that knowledge to enhance productivity and improve the business. Antrim highlights that with the advancements in AI, there has never been a better time to reimagine a business. Furthermore, the discussion emphasizes the importance of educating employees about the financial picture early on in their careers and motivating them to invest in themselves and their skills. The ultimate goal is to elevate both the multifamily company and its employees, leading to a more successful and productive business.

Antrim stresses the importance of defining success and understanding how it is perceived by different people in the company. Asking regional apartment managers, property managers, and other employees to define success and paying attention to whether it is activity-related, occupancy-related, or financial-related is an effective strategy.

The episode also highlights the opportunity to educate employees about the financial picture early on in their careers and incentivize them to invest in themselves and their skills. By clarifying who the multifamily company is managing for, such as investors who could be teachers, firefighters, or first responders, employees can better understand the financial impact of their decisions and expect more from their company and themselves. Overall, the episode underscores the importance of defining success and ensuring that everyone in the company is aligned and working towards the same goals.

Antrim also mentions the importance of incentivizing employees to learn financial skills and focusing on preventative measures for late rent payments in apartment communities to improve the business. One suggestion is moving the date for collection bonuses earlier in the timeline to encourage employees to be more proactive in addressing late payments. Antrim also emphasizes the importance of training multifamily employees on financial understanding at every level of the business and defining success based on financial metrics rather than just occupancy or activity.

Additionally, Antrim discusses the idea of offering incentives to apartment residents for timely rent payments and including provisions in leases that allow for one free waving of a late fee in case of financial hardship. A focus on financial education and preventative measures can lead to improved business outcomes for the multifamily industry.

Timestamps:

[00:00:36] Cashflow obstacles for apartment operators.
[00:06:33] Using negative energy in business.
[00:07:26] Lease incentives for financial accountability.
[00:11:28] Emotional collections during COVID.
[00:15:28] Financial understanding in a multifamily business.
[00:19:56] Car ownership and payments.

Resources:
Connect with Patrick: https://www.linkedin.com/in/patrickantrim/
Join the Multifamily Innovation® Council: https://multifamilyinnovation.com/multifamily-innovation-advisory-council/
Register for the Multifamily Innovation® Summit: https://multifamilyinnovation.com/

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

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.