The Multifamily Innovation® Show Multifamily Podcasts

In this episode of the Multifamily Innovation® Podcast, host Patrick Antrim welcomes Briant Carcamo, co-CEO of Vizibly and a seasoned real estate professional. They discuss the importance of building financial expertise within employees and the role of technology in up-skilling and re-skilling individuals. Briant shares insights on how technology can help make employees smarter and improve the overall employee experience. Tune in to learn more about the cutting edge advancements in the multifamily real estate industry.

Apartment property managers can greatly benefit from the use of tools and technology, as they provide valuable data and insights to inform decision-making. This episode emphasizes the importance of translating data into actionable insights, which is the main purpose of implementing tools like business intelligence platforms or data analytics products. These tools enable property managers to analyze and understand various aspects of their business, including multifamily lead management, leasing funnels, and operational levers.
However, the multitude of tools available in the multifamily technology landscape can overwhelm multifamily property managers. With so many options, it can be challenging for them to determine which tools are most valuable and will yield the best results for their specific circumstances. This highlights the need for property managers to carefully evaluate their tech stack and prioritize the tools that truly make a difference for their organization.
Additionally, as multifamily owners face cashflow constraints, there may be tighter restrictions on technology spend. This further emphasizes the importance of property managers reevaluating their tech stack and focusing on tools that provide real value and contribute to the efficient and profitable operation of their properties.
Leveraging tools and technology empowers multifamily companies to make more informed decisions, anticipate potential issues, and take proactive measures to prevent problems. By utilizing data and predictive insights, apartment owners and operators can better manage day-to-day operations and optimize their business outcomes.
Timestamps:
[00:02:07] Property managers and data analytics.
[00:04:37] Staying competitive in property management.
[00:07:31] Being proactive in property management.
[00:10:11] Increasing Renewals for Properties.
[00:13:45] Streamlining communication and execution.
[00:17:50] How recommendations play out.
[00:19:34] Transparency in task management.
[00:23:04] Rethinking property management technology.
[00:27:30] AI developments in property operations.
[00:31:46] Increasing operational efficiency.
[00:34:17] Being property management system agnostic.
[00:38:06] Making property management more profitable.
[00:39:12] Tracking multifamily success.

Read: It is time to reimagine how to execute operating strategy in multifamily
Connect with Briant: https://www.linkedin.com/in/briantcarcamo/
Visit https://www.vizibly.io/

In this episode of the Multifamily Innovation® Podcast, host Patrick Antrim spends time with Marc Ness, founder of WeatherShield, who shares his expertise on protecting property investments during severe weather conditions.

Marc, who has over two decades of experience in construction, investment, and insurance, provides insights on how to prepare for and handle weather-related property damage claims. He emphasizes the importance of understanding property insurance policies and claims processes to ensure maximum coverage and quick recovery.

Marc stresses the importance of being proactive in addressing potential storm damage to minimize future insurance claims. He explains that by addressing and correcting storm damage immediately, property owners can prevent further damage and potentially avoid costly insurance claims. Also highlighted the importance of being aware of storm damage to avoid selling a multifamily property for less than its worth due to undisclosed damage. Being proactive and knowledgeable about storm damage can help multifamily investors make sound and smart decisions to minimize financial losses. Multifamily property owners have a duty to mitigate damage and should address any issues promptly to prevent further damage and ensure coverage by their insurance company. 
Multifamily investors can leverage insurance scenarios to make capital improvements without spending their own money. Acquisition teams need to look for properties that have the potential for found money in them where damage has occurred. By leveraging the insurance scenario, investors can get some capital improvements accomplished without spending capital improvement dollars. However, it's important for apartment investors to be proactive in these matters rather than reactive, and to have knowledge and awareness of their options. Additionally, having a sound risk preparedness plan in place as part of an asset management strategy is important. 
Hidden damages can be discovered by a trained eye, such as potential leaks, holes, cracks in vinyl siding, and broken windows. By being aware of these damages, apartment property managers can address and correct them immediately, preventing further damage and potentially reducing costs in the long run.

Additionally, being aware of storm damage can help property owners file insurance claims and potentially receive compensation for damages. The episode also highlights the financial impact of storm damage, which can lead to the devaluation of assets and loss of return on investment. Having foundational knowledge and being aware of storm damage is crucial in making sound and smart decisions to minimize risk and potential costs.

Timestamps:
[00:00:00] Severe hailstorm in North Texas.
[00:03:57] Severe storm damage.
[00:09:13] Apartment building vulnerabilities.
[00:12:14] Storm damage and multifamily property value.
[00:16:04] Independent evaluation for storm damage.
[00:20:41] Understanding deductibles in insurance for multifamily properties.
[00:23:00] Insurance premium misconceptions.
[00:29:36] Independent assessment for apartment property damage.
[00:31:37] Contractor vs Adjuster Perspective.
[00:36:24] Insurance claim mitigation in multifamily.
[00:38:47] Focus on one thing.

Connect:
Marc Ness: https://www.linkedin.com/in/marc-ness-101bbb7a/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

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/

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-cou

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

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/