Property Management Trends to Look for in 2023

 

A new year is almost here, and with a new year comes change and progression. The ever-changing and flourishing property management and multifamily industries will also be faced with adapting to new trends. Here are some of the trends and changes we expect to see in 2023:

Tenant Focus

This year, creating an all-around better experience for tenants is at the top of many property management companies’ lists this year. From resident-focused events to updated appliances, with rising rental costs, tenants are looking for the full package.

Demand for Multifamily

As single-family home rental costs continue to skyrocket, more people are going to be on the lookout for multifamily communities that suit their needs.

Higher Wages

As the cost of living goes up, higher wages for maintenance, leasing, and other multifamily professionals will be expected to retain staff. Property managers should not fret, InterSolutions can put employees on our payroll while they decide if the employee is the right fit for their community.

Ease of Location

With concepts like hybrid and remote work on the rise, renters no longer feel the need to stay close to their place of work or bound to specific cities. Because of this, they are able to venture out to different, more affordable areas.

Rent Negotiation

When faced with threats of leaving or the inability to fill vacant apartments, leasing professionals and property managers are becoming more flexible regarding rent costs. Other apartment communities may offer rent negotiation for services provided by a tenant, for example, maintenance.

Staffing Challenges

Finding and retaining industry-trained staff can be difficult, especially as wages continue to rise. Don’t be concerned, InterSolutions can help you find the perfect leasing, maintenance, and concierge professionals for your community.

InterSolutions has you covered!

No matter what trends and changes the property management industry comes across in 2023, InterSolutions is here for you and your community.