Proptech

New proptech tools are allowing multifamily operators to make up for staffing challenges and meet residents’ rising expectations.

After changing its algorithms to make higher offers, Zillow ended up with so many winning bids it had to stop making new offers on properties.

“In October 2020, we started fielding an insane number of calls from huge investors that had never invested in Sunbelt markets,” Everett says.

“This feels like they bought way too many homes and they’re trying to work off that excess supply,” said Jonathan Miller, president of appraisal firm Miller Samuel.

Technology-enabled apartment features are among the most sought-after amenities among this renter group.

Data management, reporting and analytics solutions can optimize investment strategies and property management processes.