2024: A Year of Growth, Challenges, and Opportunities for Multifamily Property Management

As 2024, the year of intense renter demand, rapid development, and a renewed focus on resident retention, comes to a close, the multifamily industry is gearing up for an exciting 2025. Property managers, owners, and staffing professionals alike are asking: What’s next? Here are 5 multifamily trends to watch in 2025—and how they’ll shape the industry:

1. Mid-rise Apartments Dominate Development

The rise of mid-rise apartment buildings has outpaced the once-popular garden apartments over the past decade, particularly in the last five years. Why? Developers see greater returns with high-density projects, and these buildings cater to the urban lifestyle young renters crave.

Mid-rise apartments strike the perfect balance: offering the convenience of city living while attracting suburban populations gravitating toward metro-adjacent areas. Expect this trend to expand in 2025, reshaping suburban landscapes across the U.S.

2. Automation Revolutionizes Property Management

Automation continues to redefine property management, enabling teams to work smarter, and harder on the more important tasks. In 2025, expect even greater adoption of tools like:

• AI-powered leasing platforms: Streamlining lease signing and payment processing with auto-pay options.
• Maintenance request systems: Prioritizing, tracking, and resolving issues efficiently, boosting resident satisfaction.
• Resident feedback automation: Providing real-time insights into resident concerns, increasingly integrated with marketing and social media strategies.

For property management teams, automation is more than a convenience—it’s a competitive edge. The result? A smoother workplace for staff and improved experiences for residents.

3. Work-Live-Play Communities Flourish

The demand for mixed-use developments, or “work-live-play” communities, shows no signs of slowing down. These communities offer a blend of residential housing, retail, offices, and recreational spaces—all in one walkable neighborhood.

In 2025, these developments will continue to thrive by promoting convenience, social interaction, and a sense of belonging—qualities renters increasingly value in a post-pandemic world. For property managers, these communities present unique opportunities to deliver urban living experiences without the hustle of city centers.

4. Sustainability and ESG Efforts Take Center Stage

Environmental, Social, and Governance (ESG) considerations are shaping the multifamily landscape. In 2025, renters will look for communities that demonstrate a commitment to sustainability through:

• Green building certifications like LEED.
• Renewable energy solutions, including solar panels and geothermal systems.
• Energy-efficient appliances and sustainable materials.
• Tenant-focused social programs that foster inclusivity and well-being.

Adopting sustainable practices not only attracts eco-conscious renters but also positions properties to comply with evolving regulations and maintain market competitiveness.

5. Elevating Resident Retention Strategies

In a highly competitive market, retaining residents is more critical than ever. With increasing supply and evolving renter expectations, communities must go beyond the basics to create lasting impressions.

Key resident retention strategies for 2025 include:

• Investing in technology-driven amenities, like smart home features and high-tech fitness equipment.
• Enhancing package management systems to accommodate e-commerce growth.
• Streamlining maintenance and leasing processes to ensure prompt service.
• Fostering a sense of community through events and personalized communication.

Staffing is the cornerstone of these efforts. A well-trained, proactive team ensures retention initiatives are executed seamlessly, leaving residents feeling valued and connected.

 

Ready for 2025?

As the multifamily industry evolves, having the right team in place is more crucial than ever. Whether you’re addressing automation, sustainability, or resident retention, partnering with the right staffing experts can make all the difference.

Stay ahead of the curve with a workforce that’s prepared to meet the challenges and opportunities of 2025. Request an employee today and find the talent your community needs in the new year!

Looking to join a growing industry in 2025? We’re hiring nationwide! Apply today.