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In conversation with Doug Bibby
Apr 12, 2024
What's Next for Rental Housing? In this discussion, industry leaders Doug Bibby (former NMHC President) and Greg Bates (GID CEO) share insights on the evolving rental housing market.
Here's what property managers need to know:
Key Market Shifts Affecting Your Business
Long-Term Rentership Trend: As more residents choose renting over ownership, properties with resident loyalty programs that reward on-time payments and renewals gain a significant competitive edge.
Supply Constraints: With development lagging behind demand, resident retention is more critical than ever. Properties offering meaningful resident benefits are achieving up to 20% higher renewal rates.
Capital Market Changes: As GSE reform looms, forward-thinking property managers are diversifying revenue streams, including neighborhood partnerships that create value for both residents and properties.
Taking Action
Doug and Greg emphasize technology adoption and resident-centric strategies to help:
Streamline resident payments and automate loyalty campaigns
Focus on resident retention to improve on-time payments
Establish neighborhood partnerships that generate new revenue
Watch the full discussion with Doug Bibby and Greg Bates:
