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As training manager for 29th Street Communities, Ronald Harrington specializes in helping industry professionals level up their approach to marketing and leasing. On this episode of The Top Floor podcast, he’ll do the same by sharing exactly what it takes for properties to stand out with prospects in 2025 and beyond: creating stellar renter experiences.
In addition, we’ll shed new light on what residents really want from property management, with key findings from the 2024 AppFolio Property Manager Renter Preferences Report, and hear about Ronald’s experiences from his “Lease Across America” project, where he secret shopped more than 100 different properties across the United States.
Key moments:
Why resident experience is essential for success in 2025
What Ronald learned from secret shopping more than 100 properties
The difference between resident experience and customer service
How Ronald has seen conversations about resident experience evolve
What prospects expect from property management
How resident technology is changing expectations
Key factors that make or break a property experience
How to create standout property experiences for prospects
Ways to help onsite teams improve the renter experience
Key links:
Research report: 2024 Renter Preferences Report: https://www.appfolio.com/renter-preferences
Podcast: Rooms with Ronald: https://multifamilymedianetwork.com/podcast/rooms-with-ronald
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On this episode of The Top Floor podcast, we’re joined by Zack Kass, Futurist and Former Head of Go To Market for OpenAI. Bringing his extensive experience with navigating the rapidly evolving AI landscape, Zack offers practical advice and insights for how real estate management businesses can demystify AI and successfully implement new solutions.
Our conversations also explore key AI trends in real estate management, shed light on the current state of industry adoption, and uncover new ways to use AI to future-proof your business.
Tune in now to gain new insights into AI implementation for real estate management and position your organization for long-term success.
Key moments:
The state of artificial intelligence todayAI adoption across industriesKey AI trends for real estate management businessesBusiness benefits of AI adoptionRisks of delaying AI adoptionEvaluating vendors' AI solutions and strategiesDebunking common AI misconceptionsThe cultural impact of artificial intelligenceFuture-proofing your business in an AI-driven landscapeKey links:
Research Report: The State of AI in Property ManagementOn-demand webinar: Unlocking AI-Powered Innovation with Futurist Zack KassAppFolio Realm-X -
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Celebrated real estate industry strategist Peter Linneman imparts his unique blend of scholarly rigor and practical business insights on this episode of The Top Floor podcast, to help property management businesses stay one step ahead of shifting market conditions in 2024 and beyond.
In addition, you’ll also hear his thoughts on key findings from the 2024 AppFolio Property Manager Benchmark Report, for which more than 5,000 property management professions were surveyed.
Tune in now to take a data-driven look at what’s in store for the year ahead. Plus, see how property management professionals are overcoming current economic challenges and positioning themselves for long-term success.
Key moments:
What’s happening in the real estate market right nowEconomic factors influencing property management in 2024Key findings from the 2024 Property Management Benchmark ReportNew property management business benchmarks and trendsStrategies to improve property management revenueThe most important metrics for property management businessesHow to achieve both growth and profitability in 2024Balancing long-term visions with short-term needsKey links:
Research report: 2024 AppFolio Property Manager Benchmark Report: https://www.appfolio.com/benchmarkOn-demand webinar: How Property Managers are Shifting Strategies for 2024: https://www.appfolio.com/sessions/research/2024-benchmark -
Affordable housing property management already comes with its own unique set of challenges. But now, property management companies need to prepare for an entirely new set of challenges: Being fully compliant with the Housing Opportunity Through Modernization Act of 2016 (HOTMA) by January 1, 2025.
Even though HOTMA aims to simplify and reduce friction in affordable housing management, bringing welcomed changes for residents, property management companies and teams may still find that making big operational adjustments will be necessary, especially when it comes to staying compliant.
In this episode of The Top Floor podcast, two industry experts offer insights and advice on how property management organizations can guide their teams and residents through some of the most significant changes to HUD’s occupancy requirements in the last 10 years.
Joining the podcast are Jenny DeSilva, the President and CEO of DeSilva Housing Group and Colleen Winship, AppFolio's Affordable Housing Program Manager. Together, they break down the top HOTMA changes, the best ways property management companies can get prepared, and how to stay ahead of HOTMA’s final compliance deadline.
Key moments:
Jenny explains why HOTMA is so important How HOTMA could benefit residents The benefits for owners and agents The top HOTMA changes to be aware of What property management companies need to know about the HOTMA compliance timeline Key milestones for HOTMA implementationHow to approach employee training around HOTMA How property management companies can boost operational efficiency Changes Jenny would like to see around future affordable housing legislationKey links:
HOTMA preparation checklist Tips To Prepare For HOTMA And Operate Your Affordable Housing Management Business More Efficiently [Part 1] Tips To Prepare For HOTMA And Operate Your Affordable Housing Management Business More Efficiently [Part 2] 2023 top challenges and opportunities in affordable housing management -
Hiring and retention have been major challenges for property management teams for years – long before other industries faced The Great Resignation. So how can property management teams improve the employee experience and boost retention?
On this episode of The Top Floor, we’ll explore survey results from the 2023 AppFolio Property Manager Hiring and Retention report and discuss opportunities for property management companies to bridge employee satisfaction gaps.
Joining the podcast to discuss are Chiccorra Connor, Founder & CEO at Occupancy Heroes, and Sean Forster, Lead Product Marketing Manager at AppFolio. They share insights into their own experiences with managing property management teams and highlight key findings from the Hiring and Retention report.
Key moments:
Why the property management industry struggles to attract and hire top talent Why retaining top property management talent is challenging The two roles property management companies struggle to fill mostWhat the 2023 Hiring and Retention report reveals Why employee culture is a competitive differentiatorWhat companies can do to boost employee satisfaction nowThinking outside the box when it comes to compensating and rewarding teamsThree biggest areas of opportunity for property management hiring and retentionKey links:
2023 AppFolio Property Manager Hiring and Retention Report: https://www.appfolio.com/resources/library/employee-experience/opt-in -
With rent growth slowing and more supply coming online, what can property management companies do to stay competitive and improve resident retention?
In this episode of The Top Floor podcast, Jay Baer, Business Growth Expert, Speaker, Tequila Influencer, and Founder of Convince & Convert, and James Erickson, Sr. Product Marketing Manager at AppFolio, explore how offering a great resident experience is quickly becoming a make-or-break factor for property management success.
We also analyze the findings from the 2023 AppFolio Property Manager Renter Preferences Report, and explore how property management companies can put these insights into action.
Key moments:
Why understanding resident preferences is essential to success Why customer experience is the same as resident experienceWhy improving the resident experience doesn’t need to be costlyWhat data reveals about customer satisfaction in generalWhy property managers play a role in resident attraction and retentionThe correlation between resident satisfaction and technology Generational divides with resident preferences Why speed and communication are so importantHow maintenance resolution time impacts satisfactionWhy you can’t provide great customer experience without a great employee experienceKey links:
2023 AppFolio Property Manager Resident Preferences Report: https://www.appfolio.com/resources/library/resident-preferences/Making Resident Satisfaction Your Competitive Advantage: https://info.appfolio.com/APM-CD-ASSET-CustomerExperienceEbook_etb_content_download_form_lp.htmlCustomer Experience: What It Means & Why It Matters More Than Ever: https://www.appfolio.com/blog/customer-experience/“The Time to Win” by Jay Baer https://www.thetimetowin.com/the-time-to-win -
Artificial intelligence (AI)I isn’t necessarily new, but the popularity of newly developed, publicly available AI solutions has skyrocketed over the last year due to advancements in generative AI. Now, almost every industry around the world has started embracing and adopting the power of AI, including property management.
While it’s already clear AI holds enormous potential for property management, there are still plenty of questions around how businesses can best implement AI solutions, and how to navigate brand-new AI territory, especially when it comes to using AI responsibly.
We explore this and more in episode one of season four of The Top Floor podcast, with two property management and AI experts: Cat Allday, AppFolio’s VP of AI, and Peter Lohmann, CEO of RL Property Management.
Tune in to the full episode to hear us discuss ways AI can reduce manual processes, overcome bias, streamline workflows, and help us manage data more efficiently — and how it can be implemented safely and responsibly.
Key moments:
• The most common types of AI available today
• Why property management businesses should explore AI
• How AI can address property management challenges
• The importance of taking a responsible approach to AI
• How AI could help to make things fairer
• How property management teams can embrace AI
Key links:
[Solutions] Explore AppFolio’s full suite of property management AI solutions
[Podcast] Owner Occupied with Peter Lohmann
[Article] Multifamily Property Management AI: Separating Myths from Facts
[Article] How AI based on large language models could change property management for the better
[News] AppFolio wins best AI-based solution for Real Estate
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Affordable housing is in short supply across America, with prices and rents rising in all areas. The good news is, when it comes to increasing affordable housing supply, property management businesses are in a unique position to help.
However, while managing affordable units comes with many rewards and long-lasting benefits, it’s also not without its challenges, especially when compared to market-rate portfolios.
In this episode of The Top Floor podcast, you’ll hear from Jayme Deal, the Regional Property Manager and Compliance Director for Artisan Management Group, Josefin Graebe, AppFolio’s Senior Director of Affordable Housing, and Colleen Winship, the Program Manager for AppFolio’s Affordable Housing team. Tune in to hear them discuss all things affordable housing management, including solutions for overcoming its unique challenges.
Key Moments:
Defining affordable housing How some of the most common affordable housing programs work The affordable housing supply problem Who qualifies for affordable housing How affordable housing benefits the wider community The top challenges of managing affordable housing How to get compliance right Hiring and training team members to work in affordable housing How technology can streamline affordable housing operationsKey Links
More Affordable Housing resources from AppFolio: https://www.appfolio.com/affordable-housing-property-managementA Closer Look at Affordable Housing: https://www.appfolio.com/blog/closer-look-affordable-housing/National Low Income Housing Coalition’s report on the affordable rental shortage: https://nlihc.org/gap -
To ensure property management success, making data-driven decisions is essential. After all, the numbers don’t lie, and they can reveal insights and hidden issues that can help teams fine-tune processes, communication, marketing, and much more.
However, the 2023 AppFolio Property Manager Benchmark Report revealed that many organizations aren’t getting the level of data and insights they need. In fact, “greater customization” was cited as one of the biggest reporting needs for property management businesses today.
In this episode of The Top Floor, we dive into the many ways organizations can solve their reporting dilemmas and better collect, interpret, and leverage data for their businesses’ benefit. Joining this episode are Neil Cadman — President of Cadman Group — and Matthew Kaddatz — Sr. Director, Product, SMB Market at AppFolio — to share their insights and advice.
Key points:
Why data is essential for property managementHow data can help you make better business decisionsHow data can improve the resident experienceHow data can improve the employee experienceWhy property management teams struggle to utilize dataWhat data property management teams need to focus onNeil shares his unique property management data perspectiveHow often property managers should look at dataWhy custom property management reports are more valuableWhy you need to take action on data quicklyHow data can help property management teams drive businessKey links:
2023 AppFolio Property Manager Benchmark Report: https://info.appfolio.com/APM-CD-ASSET-2023BenchmarkReport_etb_content_download_form_lp.html -
Now more than ever, renters value financial flexibility.
With flexible payment options like “buy now, pay later” and mobile payments becoming a standard part of consumers’ everyday lives, the pressure is on for property management companies and the rental housing industry to offer greater flexibility, too.
To dig deeper into what this looks like, we welcomed two AppFolio experts to The Top Floor to discuss the rise of flexible rent payments, security deposit alternatives, and how both can help meet residents’ shifting expectations.
In the first half of our conversation, Adam Feinstein, VP of Product – Payments, explores the rise of flexible rent payments across the industry. And Sean Saxena, Senior Director of FolioGuard™, rounds out the episode by discussing security deposit alternatives.
Listen to the full episode now to learn more about how financial flexibility trends and changing resident expectations are impacting the entire rental housing industry.
Key points:
Why financial flexibility is important to considerHow consumer trends have changed resident expectationsThe benefits of flexible rent payments How to choose a flexible payment solutionPredictions on the future of flexible rent paymentsThe current state of security depositsHow security deposit alternatives workWhy security deposit alternatives are rising in popularity The benefits of security deposit alternativesThe future of security depositsKey links:
2022 U.S. Resident Motivations report: https://info.appfolio.com/APM-CD-ASSET-MetroMotivationsNational_2021_etb_content_download_form_lp.htmlAppFolio Accelerates Platform Innovation with New Security Deposit Alternative Solution, Smart Accounting Tools and PropTech Integrations: https://www.appfolioinc.com/news/appfolio-accelerates-platform-with-new-security-depositFolioGuard™: https://folio-guard.com/ -
What does 2023 have in store for the residential real estate market?
We’ve all seen the headlines about inflation, recession, and labor shortages. But we wanted to dive deeper into the top trends, challenges, and opportunities for the year ahead. That’s why we surveyed nearly 5,000 property management employees for the 2023 AppFolio Property Manager Benchmark Report to hear their thoughts on property management in the year ahead.
To get a closer look at the findings and get his expert insights on what's in store for property management this year, we welcomed Dror Poleg, Economic Historian, speaker, and author of the book, Rethinking Real Estate: A Roadmap to Technology’s Impact on the World’s Largest Asset Class, to The Top Floor podcast.
Key Points:
How the remote work trend impacts property managementWhy we’re seeing a convergence between hospitality and multifamilyFinding meaning in property managementThe top property management industry risks and challenges in 2023Opportunities ahead for property management companiesHow to improve company culture How tech can maximize resources and improve employee happinessKey Links:
Dror’s website: https://www.drorpoleg.com/Connect with Dror on LinkedIn: https://www.linkedin.com/in/drorpoleg/2023 AppFolio Property Manager Benchmark Report: https://info.appfolio.com/APM-CD-ASSET-2023BenchmarkReport_etb_content_download_form_lp.html -
Since we started The Top Floor podcast almost three years ago, the property management industry has gone through an incredible amount of change in a very short amount of time.
As we head into a new year, we wanted to reflect on a few of our favorite moments from The Top Floor podcast. In this special episode, we’ll hear from four members of the AppFolio Property Manager team. They’ll share some of their favorite moments from The Top Floor so far and talk about why they find these insights from past guests just as meaningful today.
Together, we’ll explore the importance of company culture, finding meaningful work, using technology wisely, and how to attract and retain top talent.
Key Points:
Why top talent seeks meaningful workHow property management companies can articulate valueImportant traits for property management leaders to have Why property management companies need to prioritize company culture How technology can make work more enjoyable and meaningfulTasks technology should and shouldn’t replace The challenges of retaining talent in property management How a people-first approach can help attract and retain talent How the mindset around staffing has changed since the pandemicThe importance of work/life balanceKey Links:
Connect with Lisa Horner on LinkedIn: https://www.linkedin.com/in/lisahorner/ Connect with Daniel Waas on LinkedIn: https://www.linkedin.com/in/danielwaas/ Connect with Sean Forster on LinkedIn: https://www.linkedin.com/in/seanforster/Connect with JJ Koski on LinkedIn: https://www.linkedin.com/in/jj-koski/ 2022 Property Management Industry Pulse: https://info.appfolio.com/APM-CD-ASSET-TopChallengesIntegrationsResearch_etb_content_download_form_lp.html -
There’s never been a more complicated time to be a leader. The state of the property management and real estate workforce has changed drastically over the last two years, and it continues to shift every day. In fact, HR, Staffing, and Recruitment are still among the industry’s top concerns, especially when it comes to attracting new team members, reducing staff turnover, and improving company culture.
To help guide leaders through these challenges, AppFolio recently led a live town hall-style panel session at the National Multifamily Housing Counsel’s 2022 OPTECH Conference and Expo. That session was specifically designed to cover the new rules for leading and managing the next generation of property management talent. As part of that session, AppFolio interviewed five early-career and emerging property management and real estate leaders to hear first-hand what they think about their careers, what they look for when choosing an organization to work for, and what they expect from their own leaders today.
In this episode, we hear from two of those up-and-coming property management and real estate leaders that were essential to our 2022 OPTECH panel to help you identify the leadership and talent management strategies that will lead your organization and team to success.
Rohit Singh Chauhan, a Graduate Student at the MIT Center for Real Estate, and Kira Goepferd, a student at Portland State University & Property Management Assistant at Schnitzer Properties, share their invaluable insights in this episode of The Top Floor podcast.
Key Points
How to market roles to young professionalsWhy job descriptions should include future career growth opportunities How current employees can become brand ambassadors Why company culture is important to potential job candidates Why meaningful work is key to talent retentionWhy organizations need to build a culture of upskillingCurrent flexible work expectations What people want from a leaderWhat people don’t want from their leadersKey Links
What Do Property Management Employees Really Want? AppFolio Property Manager Hiring and Retention Report 2022: Turn Challenges into Opportunities -
What are the top challenges facing property management companies today?
In 2021, AppFolio partnered with National Apartment Association (NAA) to learn about the top challenges facing property management companies. Now, in 2022, a new set of challenges have emerged for property managers, including record inflation rates, increasing wages, and rising costs due to global supply chain distribution issues. So it’s no surprise that in the second edition of the Property Management Industry Pulse, we found that reducing and controlling costs is one of the top challenges facing property management companies.
In this episode of The Top Floor, we sit down with Stacy Holden, Senior Director of Industry Principal at AppFolio, to see how property managers can dial up their operational efficiency by reducing and controlling costs. We also explore how they can lay the groundwork for more effective budgeting and spending in the future.
Key Points:
What the AppFolio 2022 Property Management Industry Pulse revealedWhy “operational efficiency” is one of the top challengesWhy controlling costs is so difficult in 2022How reducing costs affects residents How property management companies can keep costs lowAreas property managers shouldn’t reduce spending onHow to use technology to control costsWays property managers can control spending long termThe ideal state of property management in 2022How to choose which tasks should be automatedKey Links:
Maximizing Efficiency: A Data-Driven Look at What’s Holding Property Management Businesses Back: https://www.appfolio.com/blog/2022-top-property-management-challenges/
2022 Property Management Industry Pulse report: https://info.appfolio.com/APM-CD-ASSET-TopChallengesIntegrationsResearch_etb_content_download_form_lp.html
Connect with Stacy on LinkedIn
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Property inspections can be cumbersome and costly, but they’re vital for protecting the bottom line.
Rather than seeing inspections as just another must-do on your checklist, our two guests this week believe that by optimizing your inspection process, you’ll see a multitude of benefits for property management staff, investors, and residents alike.
Michael Brand, Mid-Market Account Executive at HappyCo, and AppFolio Property Manager’s Senior Product Manager, Kelly Dean, join this episode of The Top Floor podcast to explain exactly why. Michael and Kelly explore the benefits of doing inspections the right way, how to streamline operations, and why tools and tech are essential to nailing your inspection process.
Key Points:
Why inspections are so vital to property managementThe impact of inspections on NOIHow to standardize property inspectionsHow the pandemic changed resident expectationsThe impact of inspections on business outcomesWhy you need the right tools and technology in placeHow to make improvements to your inspection processTell-tale signs you need to rethink your inspection processHow technology can help you do more with lessTaking advantage of overlooked inspection opportunitiesKey Links:
HappyCo: https://happy.co/
AppFolio: https://www.appfolio.com/
AppFolio Stack: https://www.appfolio.com/stack
HappyCo + AppFolio Integration: https://happy.co/integrations/appfolio
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Maintenance can be one of the most difficult to control and costly elements of property management. But it’s also vital to resident satisfaction and retention.
Because residents already have high expectations for maintenance, cumbersome processes and delays in repairs can make or break that all-important resident experience.
In this episode of The Top Floor podcast, we’re joined by Ray Hespen, CEO and Co-Founder of Property Meld, and Cat Allday, VP of AI Initiative at AppFolio, to talk more about creating the best possible maintenance experience for your business, teams, and residents.
Key Points:
Why maintenance affects resident satisfactionHow resident expectations for maintenance have changedThe top challenges of property maintenanceHow the right tools can improve the maintenance experienceWhy maintenance teams are key to resident satisfactionThe role of automation and AI in property maintenanceWhat the future holds for property maintenanceKey Links:
Maximizing Efficiency: A Data-Driven Look at What’s Holding Property Management Businesses Back: https://www.appfolio.com/blog/2022-top-property-management-challenges/Property Meld: https://propertymeld.com/AppFolio: https://www.appfolio.com/ -
We’re back to kick off season 3 of The Top Floor podcast! In our first episode, we speak with two experts about the world of CRM tools, property management, and AI.
Demetri Themelis, Co-Founder & CEO of Knock, and Laura Rhoads, Staff Product Manager at AppFolio, are in agreement – CRM tools are a must-have for any growing property management company.
In this episode, they explore the benefits of CRM tools for the business as a whole, the staff, and the customers, and why changing renter expectations should influence your choice of CRM tools.
Knock is a leading performance management platform and CRM for multifamily property owners and managers. Demetri strives to make Knock the most innovative, trusted, and fun performance management platform in the multifamily industry while helping the company achieve its mission of enabling successful communities through technology and customer service.
Laura works with development teams in the Leasing and Marketing space to deliver effective and thoughtful solutions for AppFolio customers. Laura has been doing Product Management for over a decade and enjoys understanding the intricacies of how her customers run their daily operations.
Key Points:
What a CRM isThe unexpected benefits of using CRM toolsHow COVID-19 affected the way property management companies operate What the future of CRM tools will look likeWhat modern renters expect from leasing agents How to use CRMs to improve staff trainingThe biggest challenges in adopting a CRMHow AI tools can benefit both businesses and customers How centralized leasing can protect your bottom lineHow property management compares to other industries in tech maturity What a good PMS looks likeHow AI can help you identify trends and issues Why automating as much as you can is a quick win for your businessKey Links:
AppFolioKnock -
While we’re getting ready to launch season three of The Top Floor podcast, we decided to revisit two of our favorite conversations from season two.
In our first discussion, we spoke with Paula Munger, AVP of Industry Research and Analysis, and Leah Cuffy, Senior Research Analyst at the National Apartment Association, about today’s hiring and retention challenges in property management.
This talk came off the back of a recent National Apartment Association (NAA) report, sponsored by AppFolio, which surveyed property managers about the biggest challenges they face. The report revealed that 74% said that human resources, staffing, and recruitment were their top three challenges.
Following this, we share our talk with Stephanie Anderson, Senior Director of Content Strategy at Grace Hill, about property maintenance and its effect on your bottom line.
Many property managers could be leaving money on the table by not making their maintenance process more efficient. Stephanie outlines some ways property managers could fine-tune their processes and boost NOI.
Hear our guests discuss some of the top challenges and solutions for some of the biggest issues facing property management companies today.
Key Points:
• How COVID made hiring much more challenging for property management companies
• Why we’re in an employee’s market, and what that means for businesses
• Why companies need to adapt to attract top talent
• What employees are looking for in a role beyond salary
• Why we need to encourage more people to consider construction and hands-on work
• How the maintenance request process affects your NOI
• The challenges of estimating maintenance costs accurately
• 3 solutions for keeping maintenance costs manageable
• How to plan for time, resources, and expenses
• The benefits of making your maintenance request process digital
• Why you need a standardized way of handling maintenance emergencies
• How to avoid leaving money on the table when handling maintenance requests
Key Links:
• AppFolio
• The Top Floor podcast
• Why Today’s Hiring & Retention Challenges Are Different
• How Optimizing Maintenance Boosts NOI
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Welcome to season three of The Top Floor podcast brought to you by AppFolio.
After two great seasons of hearing real estate leaders share their thoughts on the property management industry, we’re back for a third time around.
We’re featuring more experts in the real estate world as they discuss the future of the industry, how resident preferences have evolved, and how to use technology to create an efficient management system. This season, we uncover even more innovative solutions for today’s complex property management challenges.
Stay tuned for new episodes and subscribe on Spotify, Apple Podcasts, Sticher, Google Podcasts, or wherever else you like to listen.
Key Links
• AppFolio
• The Top Floor podcast
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The foundation of the property management business is, of course, rooted in people. It takes a village of employees to accommodate clients and residents in a 24/7, always-on industry in which property managers must be available at any moment.
At a time when real estate is in increasingly high demand as residents search for bigger spaces and new homes, property managers are in need of a full staff to keep operations running smoothly. However, staffing in the world of property management has been an ongoing pain point exacerbated by thousands of employees quitting amid the “The Great Resignation,” coupled with the new normal of hybrid work during the pandemic.
To combat this cycle, we discover how property managers are making do with smaller staffs, as well as the tech solutions being used to fill in the gaps. To discover how workers on the frontlines get the support they need to increase their bandwidth and how their employers measure up in terms of worker satisfaction, we turn to recent research produced by AppFolio in partnership with IREM. In this episode of The Top Floor, we speak with Steve Cadigan, author of Workquake, as well as Barry Blanton of AMO management firm Blanton Turner, to discover the perfect combination of employees and tech solutions to resolve today’s challenges in property management.
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