Apartment All Stars: Key Takeaways for 2025

Apartment All Stars: Key Takeaways for 2025

Entrata’s "Resident Experts" webinar recently gathered two of the multifamily industry's most influential leaders, Kate Good of Huntington Residential and Lisa Trestin of Apartment Expert.com, for a discussion on critical trends and strategies shaping 2025. Hosted by Virginia Love, Industry Principal at Entrata, the session offered practical advice for property managers and executives for the remainder of the year.

Communicating with Owners and Investors

Good emphasized the importance of mastering communication with property owners and investors. She explained that property management professionals often misunderstand the investment side of the business, leading to communication gaps. A crucial takeaway was the need for property managers to understand an owner's investment strategy, including how long they plan to hold a property and the financial implications of operational decisions. This knowledge allows managers to translate their work into terms that resonate with investors, demonstrating direct impact on their bottom line.

A common misconception, Good noted, is that silence from owners means satisfaction. In reality, owners want regular check-ins, even if there's no major news. Consistent updates build trust. When difficult information needs to be shared, it is best to do so promptly, rather than waiting for outdated monthly reports. Face-to-face or virtual calls are often the most effective channels for sensitive discussions. Good also advised starting these conversations with data, then using a narrative to explain its impact on the property. This approach establishes credibility and avoids sounding defensive.

Understanding and Implementing Renter Trends

Trestin shifted the focus to understanding modern renters. She stressed that developers and operators should avoid installing amenities purely for "wow factor." Instead, the focus should be on amenities that residents will genuinely use. Trestin cited examples of underutilized amenities like jam rooms or boxing rings, which were once trends but often sit empty. The key is to observe what your specific demographic values and tailor offerings accordingly.

Social listening emerged as a vital tool for identifying trends early. Lisa highlighted platforms like Reddit, where renters openly discuss their experiences, frustrations, and desires. These conversations provide real-time, unfiltered feedback that can help properties identify emerging needs before they become mainstream. Lisa asserted that waiting for a trend to be widely recognized means you are already behind.

Beyond observation, the experts offered concrete ideas for amenities and events that resonate with today’s renters:

• Pet-friendly initiatives, such as "pet proms," remain highly popular.
• Nostalgia-driven activities, like spelling bees or classic car shows, foster strong community connections.
• Personalized video communication for prospects and residents creates more engaging interactions than traditional emails.

Innovative Approaches to Amenity Spaces and Property Offerings

The discussion turned to how communities can creatively leverage renter trends to improve spaces and services. Trestin shared an anecdote about a developer who replaced traditional business centers with portable work pods. These freestanding, reservable units offer flexibility, allowing them to be moved or reconfigured as renter needs evolve, avoiding costly fixed installations that might quickly become outdated.

Love added practical ideas for easy, cost-effective improvements:

• Cool Deck Paint: Using heat-deflecting paint on pool decks can lower surface temperatures by 6-15 degrees, making them more comfortable, especially for bare feet. This paint comes in various colors, allowing for creative designs, and is easy to clean.
• Trendy Resident Events: Drawing inspiration from popular food delivery app trends (like top-ordered items or trending local restaurants) can inspire unique resident events, fostering community and capitalizing on current interests.
• Hydration Stations: Capitalizing on the wellness trend, offering spring water, liquid IV packets, or pebble ice machines in common areas provides a popular and inexpensive amenity.
• Protein Snacks: Replacing traditional lobby snacks with small, travel-sized protein options or even popular items like pickles caters to evolving dietary preferences and offers a fresh alternative.

The Road Ahead for Multifamily

Looking to the future, Trestin voiced a cautious but important observation related to the current rush to implement AI in certain areas, particularly leasing, might be premature. She noted that some AI deployments are losing leads due to poor responses, emphasizing that AI should be a "professional enhancement," not a "person replacement." She stressed that both AI providers and management companies need to ensure proper setup and training to avoid missteps.

Good agreed that AI is still in its early stages but will quickly become integral to the business. She noted that while employees might be hesitant to adopt AI, it is crucial for them to learn to work with these tools, as they will define future efficiency.

Both experts concluded with a message of optimism for the multifamily industry. Despite economic uncertainties, multifamily has historically led the way out of downturns. The current pause in development signals a significant build-up, and the industry is poised for a strong resurgence. The key is to be prepared, to listen actively to residents, and to strategically adapt offerings to meet evolving demands.

You can listen to the group’s entire conversation, here.