The Austin Apartment Association’s annual State of the Industry event will provide insights into the rental housing and multifamily market, including market trends, construction and development activity, economic impacts, and more as we look to 2025 and beyond.
Tetiana Zhuravel, Administrative Manager & Team Coordinator tetiana@austinaptassoc.com
The
Present Is Never Permanent.
Dear Members,
How do you describe the current state of the industry? How might members 60 years ago have described the industry of the future?
Your answer of “the here and now” may lead with the challenge that the industry is experiencing right now, but one thing we know for certain is that nothing is permanent. While currently the industry is feeling the pressure of lower occupancy and the challenge of rising expenses, it’s important we also look to the future and anticipate the turnaround. Our industry continues to evolve and innovate, which is evident as we summarize the “present day” on the pages that follow.
There are some pressing issues facing our industry, but (stealing a line I heard from a staffer at NAA’s Apartmentalize), just think of that favored song from the 90s, “…everything I do, I do it for you…”. This tune rings true. AAA is working hard for our members on the many key issues of the day – from A/C mandates coming to Austin, to broadband, to zero waste goals, we really are covering a spectrum of issues on your behalf.
Now more than ever, be sure you and your team are staying in the know and engaging in our advocacy efforts. Your voice absolutely matters, and we need that voice to best represent the industry. Check out the Industry Update and visit our “Advocacy News” blog on the AAA’s website to stay up to speed.
Although issues are heating up, we are also eagerly anticipating the fall and the exciting events and programs that will bring, including our annual Trade Show – this year’s theme is Battle of the Bands! We expect to see everyone turn up their energy at this year’s event.
Our team is here for you as we move from the present to the future.
Sincerely,
Emily Blair, CAE
WHERE CHAMPIONS WORK
As someone who’s been in the Austin apartment industry for the past couple of decades, I can tell you one thing for sure: this industry has never been busier. We’ve seen a constant influx of people drawn to Austin’s vibrant culture, booming tech industry, and (let’s be honest) that year-round sunshine. Today, the competition is fierce, and development has resulted in hundreds of apartment communities opening in our metro in the last year. Amenities that were once considered luxurious – rooftop pools, dog parks, yoga studios onsite – are becoming standard. It’s a challenging market, with rental growth flat (at best) and low vacancies, a rarity. On top of that, I know we are all experiencing heightened expenses along with heightened expectations.
All this adds up to a pressure-filled present day. When the pressure is on, one thing I always lean on is education. Balancing the “let’s get back to basics” with the “shiny and new” is crucial. I saw this first-hand at NAA’s 2024 Apartmentalize in Philly just a few weeks ago. Sessions about sales basics, communications and marketing strategies, and signature resident experiences, were jam-packed sessions right along with those on artificial intelligence, centralization,
and adaptive reuse! The great news is that we don’t have to wait until the next Apartmentalize for practical education. The Austin Apartment Association is cranking out courses and is a resource for every person and every role in our industry.
Our industry is fundamentally one that will remain resilient through this present pressure. Looking ahead, I’m cautiously optimistic. I know that the 2024 election will happen, development will balance, and demand will continue here in our amazing Texas Capitol. In the meantime, take what I have learned over my years of experience – and never stop learning.
Use the resources of the Austin Apartment Association, both in education and the incredible professionals who will have your back in challenging times. Because we know for certain, this industry will remain strong and vibrant beyond the present day, and I know our organization will be here another 60 years from now.
Sincerely,
Theresa Ebner, CAM, CAP, CPM
Elevate Your Career!
With
Aug 28 - Oct 2 2024
NAAEIʼs Certified Apartment Portfolio Supervisor (CAPS) program is an in-depth review of property management principles and techniques as used by the professional supervisor. The
Sep 30 - Oct 4 2024
Designed
Maintenance expenses are the single largest controllable element in any operating budget. This course is designed to give these professionals the knowledge and tools necessary to run an effective maintenance program.
Sep 30 - Nov 8 2024
JULY
AUGUST
SEPTEMBER
HUDDLE MAINTENANCE
Celebrating MaintenanceLegends
RECAP
AAA celebrated our maintenance heroes at our annual Spring Maintenance Huddle. The event was a casual affair held at the fun and laid-back The Water Tank. Over 340 AAA maintenance and supplier members signed up, and over 25 management companies were in attendence to show appreciation for our maintenance heroes.
Here’s to all the hard-working maintenance personnel out there and we hope to see you at the 2024 Winter Maintenance Huddle!
THANK YOU TO OUR SPONSORS
$500 WINNER
Dimus Salgado with Kairoi Management
By Carrie Smith, Sr Director of Government and Public Affairs
Austin Apartment Association Elevates Public Policy Advocacy with Successful IMPACT Dinner
The Austin Apartment Association (AAA) is thrilled to announce the tremendous success of its inaugural IMPACT Dinner, a pivotal event aimed at boosting our public policy advocacy efforts. Held in an exclusive setting, the evening provided an unparalleled opportunity for elected leaders to witness firsthand the impactful work being done within our community and engage in meaningful discussions with our members.
At the IMPACT Dinner, attendees had the chance to chat with elected leaders and discuss pressing issues facing the rental housing industry today. The event served as a platform to showcase the AAA’s commitment to innovative free-market solutions and essential housing incentives, reinforcing our dedication to supporting families facing homelessness, educators, and first responders.
Mayor Kirk Watson’s captivating keynote address inspired attendees with his vision for the future of housing in our community, setting the tone for an evening focused on collaboration and advocacy. Special recognition was
extended to State Representative Donna Howard, State Rep. Vikki Goodwin, and Judge Raul A. Gonzalez for their esteemed presence and unwavering support of our mission.
In addition to celebrating our community and advocacy endeavors, the IMPACT Dinner featured valuable insights from Austin ISD’s Jeremy Striffler, Darla Caughey, and Aimee Ortiz on the AAA’s partnership with the property directory. Their contributions underscored the importance of collaboration between the AAA and local educational institutions in addressing housing challenges.
A highlight of the evening was the announcement of our forthcoming collaboration with Entryway’s CEO David Williams to combat homelessness. This partnership exemplifies our commitment to finding innovative solutions to housing insecurity and making a tangible difference in the lives of those in need.
The AAA also expressed sincere appreciation to Senator Pete Flores, Representative Caroline Harris-Davila, and Representative Gina Hinojosa for entrusting their dedicated staff members to join us.
Lastly, heartfelt gratitude was
extended to the Austin Police Department’s Chief of Staff Jeff Greenwalt, EMS Chief Robert Luckritz, Assistant Chief Stephen White, and Assistant Chief Wes Hopkins for their invaluable contributions to the evening. Their expertise and dedication to public safety are crucial to our community’s well-being.
As we reflect on the success of the inaugural IMPACT Dinner, we are energized and inspired to continue our advocacy efforts for a brighter future. The AAA remains committed to driving positive change in the rental housing industry and strengthening our city’s resilience through collaboration and innovation.
Austin Apartment Association’s Response to University of Texas Report on Junk Fees
The Austin Apartment Association (AAA) has recently responded to the University of Texas report titled “Combatting Junk Fees in Texas Rental Housing: A Pathway to Fairer and More Transparent Leasing Practices.” While the report aims to address issues surrounding junk fees in rental housing, the AAA has highlighted the lack of industry input, which may have skewed the report’s findings.
BASTA’s involvement in crafting the report raises questions about its objectivity, as the Austin Apartment Association was not approached to provide input. This omission undermines the balance and credibility of the report, potentially leading to misguided policy recommendations.
One such proposal in the report suggests banning evictions for unpaid fees and prioritizing outstanding rent payments over fees. While transparency and dialogue are crucial throughout the leasing process, the AAA emphasizes that rental fees serve to defray expenses
Emily Blair, Kyle Jackson of TAA, Austin Mayor Kirk Watson, Sandy Hoy of TAA, and Carrie Smith at the first IMPACT Dinner.
for amenities and services provided to residents. The organization has long advocated for transparency in lease agreements, with rental fees listed prominently on the first page of the Texas Apartment Association (TAA) lease.
In fact, the U.S. Department of Housing and Urban Development (HUD) has recognized the TAA’s lease as an example of innovative policy and practice that improves transparency of rental fees. By providing a summary of key information, renters are equipped to make informed decisions before signing a lease.
Furthermore, the AAA cautions against the unintended consequences of fee bans or caps, which could lead to rent increases. Policymakers must consider the broader affordability challenges facing the rental housing market, including escalating costs from third-party suppliers, labor expenses, and property taxes.
A breakdown of rent costs reveals the intricate interplay of various factors, with 95 cents of every rent dollar covering essential expenses that keep apartments running and support local communities. Policymakers must understand that additional regulations could heavily impact housing operations and harm affordability and availability.
As discussions continue, the AAA remains committed to pushing back against the proposed policy changes in the UT report advocating for fair and transparent leasing practices that benefit both landlords and tenants.
Austin Apartment Association & Other Stakeholders Influence Austin CM Qadri’s Windowless Bedrooms Ordinance
On April 11th, an ordinance proposed by CM Qadri regulating windowless bedrooms passed. This ordinance, which initially raised concerns within the Austin Apartment Association (AAA), underwent substantial revisions following productive dialogue between the AAA and CM Qadri.
In February, the AAA engaged in constructive conversations with CM Qadri, expressing apprehensions about the potential implications of the “no windowless bedrooms” ordinance.
These concerns ranged from its impact on existing units to the adaptability of commercial office spaces for future affordable multifamily housing in downtown areas.
Following this initial meeting, CM Qadri extended an invitation for the AAA to actively participate in stakeholder discussions aimed at refining the ordinance. Carrie Smith, representing the AAA, attended these discussions, ensuring the association’s voice was heard throughout the process.
As a result, it’s evident that the AAA’s feedback has been carefully considered and integrated into the current iteration of the ordinance.
Notably, the revised ordinance refrains from imposing window requirements on existing dwelling units unless additional bedrooms are added. Instead, it focuses on reconstructed units/buildings and new developments. Furthermore, the ordinance acknowledges that natural light need not necessarily originate from an exterior window. Alternative sources, such as windows or transparent doors borrowing natural light from an adjacent room with direct access to natural light, are deemed acceptable. This provision allows for greater flexibility in future development projects, including the repurposing of office buildings, where access to borrowed natural light can be ensured through strategically placed walls.
While certain areas within commercial buildings may pose challenges in this regard, the ordinance presents a commendable compromise that balances safety and adaptability. Input from the Austin Fire Department underscores the belief that this ordinance will enhance safety for both residents and firefighters.
Overall, the evolution of this ordinance reflects a commendable compromise compared to its initial iteration. It serves as a testament to the significance of the AAA’s participation in early-stage discussions, highlighting the tangible impact of engagement in shaping housing regulations for the benefit of the community.
AAA Advocates for Long-term Housing Market Progress with Historic Victory
In a significant move for Austin’s
housing landscape, the Austin City Council passed the HOME Phase II and Agenda ITEM 4 - compatibility amendments on multifamily properties last Friday. Agenda ITEM 4 received robust support from the Austin Apartment Association, with over 40 of its members registering in favor and submitting a formal letter of support placed on the record at Austin City Hall.
This decision comes at a time when the Austin multifamily industry faces challenges with unit occupancy levels, but these amendments aim to provide long-term flexibility. By reducing restrictions on small and large multifamily properties, the amendments will enable expansion and construction in areas previously off-limits, thereby supporting the marketplace for both residents and industry members. Importantly, relaxing compatibility restrictions and leaving the decisions to expand or build in certain areas up to industry experts, rather than city officials, has historically proven beneficial for both the industry and residents alike.
Revising Compatibility Rules
ITEM 4 targets the revision of longstanding “compatibility” rules that have historically hindered the development of multifamily housing near singlefamily neighborhoods. These rules, which have been in place for over forty years, enforced stringent height limitations on buildings up to 540 feet away from single-family homes. The new amendments will significantly narrow these limitations, confining height restrictions to within a 75-foot distance from single-family homes. This adjustment brings Austin’s standards in line with other major Texas cities such as Houston, Dallas, and San Antonio, which have successfully implemented similar measures.
AAA welcomes these new members who joined the association between February 3 - May 31. When deciding where to make your next purchase for your property, please consider an AAA supplier member.
I’ve been in the industry since 2006. Funny enough, multifamily has been my only job since college. I’m incredibly excited to join a company with a culture of continuous learning and core values that align with mine.
“After every endeavor, big and small, we gather together to review goals and achievements. We relentlessly review issues faced and ultimate outcomes. A living space is much more than four walls, it’s where life happens. Our core values are rooted in experience, making every decision matter and delivering on our promises.”
James Castaneda
Earned his CALP Credential
I would like to thank AAA for holding the event and Westdale for providing me with the opportunity to make the most out of this career path! I can’t wait to see how I excel with the knowledge I gain.
Danielle Archuleta Changed Companies
I am excited to share that I have started with Cloudastructure as a Director of Sales. I’m grateful to everyone who has supported my journey in multifamily and I’m eager to learn more about a different part of the industry. It’s fascinating to see the various advantages technology and AI brings to make our lives easier. I’m looking forward to serving and helping members of the Association.
Edward Garza
Earned his CALP Credential
I can’t express enough how thankful I am to be a part of the Rainier team. They have provided me with incredible opportunities for growth in my career field. Moreover, their investment in my future, such as providing resources for me to attain my CALP Certification, assures me that I can progress as far as possible in this industry.
Michael Garcia Changed Companies
I am thrilled to announce that I have recently embarked on a new professional journey by joining ZRS Management. This opportunity fills me with excitement as I look forward to gaining valuable experience and developing my skills alongside some of the brightest talents in the industry. A Big Thank you to Luanne McNulty and Jim Morrissey for making my transition to ZRS feel like home.
Esther Van Aken Mill Creek Residential Trust LLC
James Castaneda Westdale Real Estate Inv & Mgmt
Danielle Archuleta Cloudastructure
Edward Garza Rainier Properites
Michael Garcia ZRS Management
TAA-&-NAA
SUMMER 2024
OLIN
STEELE SUPPLIER PARTNER LIFETIME ACHIEVEMENT AWARD
GARY GREENE, CAS
Gary Greene, CAS was honored as the 2024 Olin Steele Lifetime Achievement Award winner.
HIGHLIGHTS
TAA’s Annual Conference Held In San Antonio
The traditional camaraderie, networking, and chance to make new friends and see long-time industry peers was back in full force at the 2024 TAA ONE Conference & Expo in April in San Antonio. A record turnout in San Antonio helped demonstrate that the apartment industry is alive and well as more than 4,200 attendees embraced the “Fiesta” mood, hoping that spirit can get multifamily past some seemingly imminent challenges when it comes to operations and expenses.
RECORD ATTENDANCE IN SAN ANTONIO FOR THE 2024 ONE CONFERENCE & EXPO
AFFORDABLE
HOUSING COMMUNITY OF THE YEAR AWARD
ZILKER STUDIOS
The Affordable Housing Award winner was Austin’s very own, Foundation Communities and the Zilker Studios property for the Innovation in New Construction category.
to
TAA’s revised Student Housing Lease is launching late this summer for the 2025/2026 leasing cycle!
Futurizing Your Leadership
September 26-27 | JW Marriott Austin, TX
ADVOCACY EFFORTS STAND STRONG FOR NAA’S MEMBERS
Your contributions and participation have made a huge impact! NAA recently:
• Overcame opposition and helped secure the YIMBY Act’s passage out of committee without onerous amendments.
• Secured meetings with FHFA, Fannie Mae and Freddie Mac leaders to discuss forthcomi landlord-tenant requirements for enterprisebacked housing.
• Submitted 37 comment letters to Congress, the White House and federal agencies so far this year.
For a deeper dive, read the latest in housing politics in the apartment advocate. Contact Zach Quimby.
RPM CAREERS WEEK RECAP
Thank you to everyone who demonstrated excitement and celebrated your staff and suppliers during RPM Careers Week 2024. You and your members helped us exceed our daily challenge submissions for the third year in a row, and our winners have been notified and will live on our website for one year in recognition. Save the date –RPM Careers Week, April 14-18, 2025. Contact Shellie Sims.
Spring 2024
Membership Numbers, Texas:
Supplier Members: 3,537
Industry Members: 9,773
Total Members: 13,310
Unit Count: 2,693,707
Spring 2024 Membership Numbers - National
Total Units: 12,441,453
Supplier Members: 16,313
Total Members: 96,656
State, Local, and Global Affiliates: 141
CLUBHOUSE BECOMES APT HAVEN!
AMPLIFY YOUR EXPERIENCE: THE 2024 AAA TRADE SHOW BATTLE OF THE BANDS EDITION!
FROM TASHA MORA
Events and Services Chair
Owner of A&A Wrecker and Recovery
The stage is set! As we mark our 60th anniversary, the Events and Services Committee has turned up the volume with this year’s trade show theme. Get ready for an electrifying 2024 AAA Trade Show as we bring to you - the Battle of the Bands!
Join us as we celebrate 60 years of excellence, amplified by the Battle of the Bands theme. Get ready for your backstage, VIP experience as you network with the best and are part of an electrifying crescendo.
This trade show is not just about
celebrating the past six decades of excellence, but also amplifying the future of the association and the industry as a whole! The floor will be buzzing. Discover the future of the apartment industry as industry suppliers showcase cutting-edge products and services, demonstrating the latest advancements for the apartment industry. Explore innovative solutions that can elevate your community to new heights. Picture vibrant displays aligned with the Battle of the Bands themeprepare to be wowed!
Valuable networking awaitsits music to your professional journey! It’s an opportunity to connect with supplier partners, industry professionals, managers, maintenance staff, and supervisors. Conversations will flow as you share experiences, exchange ideas, and forge meaningful connections.
As the sun sets, the main stage becomes the epicenter of excitement. The Epic Battle shall unfold. Supplier partners will compete for the title, rocking the stage in their best Battle of the Bands gear. The energy in the room will be electric. Who will rock the stage and claim victory? Be there to witness
the crescendo!
We’re not stopping at the music there. Industry members can enter to win the $2,000 cash prize - and exclusive giveaways. Will luck be on your side?
Secure Your Spot Today. Don’t miss this incredible opportunity! To reserve a trade show booth, contact Dana Bolz, Senior Director of Events and Education at dana@ austinaptassoc.com. Showcase your brand, connect with industry players, and make a significant impact.
Mark your calendars and get ready to be part of something truly extraordinary. Let’s make this celebration of our 60th year an unforgettable experience for all. Together, we’ll write a new chapter in the association’s history and set the stage for an even brighter future. See you at the Palmer Events Center on October 10, 2024! Note: Rockstar attire encouraged! Feel the rhythm?
RESERVE YOUR SPOT NOW - IT’S YOUR BACKSTAGE PASS TO SUCCESS! LET’S MAKE HISTORY TOGETHER!
2024 TRADE SHOW EXHIBITORS
A&A Wrecker and Recovery 535, 537
ACTIV
Advanced Exercise 229
Advanced Refinish, LLC 615
Affinity Waste Solutions 612, 614
Airco Mechanical 609
Aire-Master of Austin Metro 217
Ally Waste 353
ALN Apartment Data 549
American Fire Systems, Inc. 226
Ameristar Screen and Glass 341, 440
ApartmentRatings & SatisFacts 623
Apartments.com 627
Appliance Parts Company 641
ATX Capital Construction 506
Austin Energy 500, 502
Austin Water - Special 635
Bar-B-Clean Central Texas 607
Belfor Property Restoration 630, 632
BGSF 553
Black Diamond Grounds 242
BlueTeam 200
Break it Down, LLC 234
Briggs Equipment 350, 352
Camp Construction 521, 523
Capital Construction of Texas 454
Capitol Painting & 613 Construction, Inc.
Caruth Protection Services 354
CCS
On
Optimized
Parking
543
PAVECON 141
Penn
Poolsure 702
Powerhouse Home & 509, 608
Commercial Services
PS Landscapes, Inc 334
Qwikkit 228
R&S Overhead Garage 547, 646
Door of Austin
RA-Lock
Ram Jack 215
Rasa Floors 241, 340
Recycle
Redi
River
The event was a great team-building exercise with games, teamwork, and friendly competition. Thanks to everyone who participated in our 3rd Anniversary of Field Day! Big thanks to our event leads, David Burris with McMahan’s Flooring and Kelly Vidal with Core Distributing Central!
2ND PLACE
PLATINUM SPONSORS
GOLD SPONSORS
1ST PLACE Hire Priority- The Toga Titans
The Spot Be Gone Red Team
3RD PLACE
The Spot Be Gone Blue Team
CONGRATS TO OUR AWARD WINNERS
BEST SPONSOR STATION North x Northwest Commercial Landscaping
BEST DRESSED STATION The Toga Titans MOST SPIRITED TEAM Avenue 5 Residential
Tissue Box Game: Austin Housing Authority || Lego Building: Creekside On Parmer Lane-Untouchables || Marshma llow Golf: Spot Be Gone Team Red || Egg & Spoon: Dixie Interiors- Rip Dixie Carpet || Brain Game: Hire Priority-Toga Titans || Flip Cup Replay: Hire Priority- The Toga Titans || Hula Hoop Pass: Fidus Construction Services || Water Balloon Toss: The Spot Be Gone Team Red || Tug Of War: Spot Be Gone
POPULATION POPULATION
City of Austin
Population of 975,335 compared to 208,475 in 1964
Austin MSA population: “New Census estimates show the Austin metro is the second-fastest growing region in the country.”
55% Renter
Austin is the 4th best city for renters according to a recent Forbes study The ranking comes from price changes, availability of rentals, and amenities such as on-site parking and in-unit laundry
ECONOMY ECONOMY
Renter Growth
-Approximately ~30,370 units (in ~106 projects/ communities) are under construction in the Austin metro (Average of ALN/ MRI data)
-In addition, between 31,000 and 63,000 units are proposed or pre-construction in the Austin, TX metro at the end of May, 2024
Austin-Round Rock is 15th in US for apartment vacancies
TRENDING TOPICS TRENDING TOPICS
ARTIFICIAL INTELLIGENCE
ADAPTIVE REUSE
JUNK FEES
LAND DEVELOPMENT
METRICS
NATIONAL MEMBERSHIP NUMBERS (Spring 2024) TEXAS MEMBERSHIP NUMBERS (Spring 2024)
12,441,453 TOTAL UNITS
16,313
SUPPLIER MEMBERS
96,656
TOTAL MEMBERS
114
STATE, LOCAL , AND GLOBAL AFFILIATES
2,693,707 UNITS IN MULTIFAMILY
BUILD TO RENT:
CENT TRALIZATION
DIVERSITY, EQUITY & INCLUSION
FEE TRANSPARENCY
GREEN INITIATIVES
HOMELESSNESS
INFLATION
INSURANCE
INTEREST RATES
MIGRATION AND MOVING TO OUTLYING AREAS
PROPTECH
RENT CONTROL
REVENUE MANAGEMENT
SAFETY AND SECURITY
SUPPLY
TAXES
TRANSIT AND PARKING
WATER AND NATURAL RESOURCES
3,537
SUPPLIER MEMBERS 9,773
INDUSTRY MEMBERS 13,310
TOTAL MEMBERS
AAA PRESENT DAY
As AAA celebrates 60 years, here is a snapshot of the ‘here and now’ for the greater Austin rental housing industry.
AAA MEMBERSHIP NUMBERS (Spring 2024)
Austin Apartment Association ranked 4th in unit growth from April 2023 to April 2024: 10.99% growth!
350,727 TOTAL UNITS 578 INDUSTRY MEMBERS
408 SUPPLIER MEMBERS
1,002 TOTAL MEMBERS
WE’RE LOCALLY
WHAT WE’RE ADVOCATING FOR LOCALLY WHAT WE’RE ADVOCATING FOR LOCALLY
Rental housing fee transparency
Federal: Many new regulations are spinning out of the Biden administration, including FTC rules regarding “Junk Fees” that may impact the multifamily industry
Air conditioning mandates:
Austin is considering a mandate of A/C to be provided in all multifamily units This would be the second city in Texas to require it
International Property Maintenance Code local adoptions:
it is 2024, so that means the i-code cycle is again upon us, and Austin is contemplating local amendments that would be attached to the IPMC.
WHAT DOING
WHAT WE’RE DOING WHAT WE’RE DOING
AAA’s DE&I working group is in full force and the Association is proud to bring new programming such as the recent Juneteenth Celebration!
The Association’s annual Education Conference is growing in plans for this year Many education
hybrid format
Growing! Austin continues to top the charts as the metro with the most unit growth (see pages xxx for national membership statistics and where AAA ranks!)
Launching Apartner in Safety
Austin ISD Housing Program
WHERE WE’RE VOLUNTEERING WHERE WE’RE VOLUNTEERING
The community service committee is focusing on 4 areas this year
Volunteers have been giving time at local area food banks and the Association is gearing up for its 38th annual food drive
FOLLOW THE QR CODE TO CHECK OUT THE LATEST HEADLINES AND SEE WHAT WE'RE READING.
Members joined us on May 9 for Summer Golf at TopGolf! This was an Apartzment PAC Austin Political Action committee fundraiser. Your PAC dollars help AAA keep a strong voice at all levels of government. Congrats to our award winners!
1ST PLACE FIDUS Constuction
2ND PLACE PAVECON
LONGEST DRIVE
3RD PLACE Keller Commercial & Home Services
BEST INDIVIDUAL PLAYER
Jay Piersall
Brant Dickerson (not pictured)
Resident Escalation WITHOUT VIOLATION
By The Fair Housing Institute
The different aspects that make up your career in property management can be quite diverse, with many unique roles you will learn along the way. One of those unique roles is customer service and it is one of the most important career side quests you will encounter. Customer service can be very rewarding, being able to help your residents with their issues or assist new prospects in finding their perfect home. This also means that escalated situations with angry residents/prospects are part and parcel as well. While you can’t please every person in every interaction, there is an unfortunate nuance when it comes to customer service and fair housing.
There will be fair housing complaints, no doubt about that. However, one wrong sentence during an interaction or one misstep in a procedure can lead to a fair housing violation. How can this be avoided? Let’s go through a client confrontation step by step and strategize.
Confrontation Prevention
Before the situation of an angry resident or prospect ever arises, are you working on prevention tactics as part of your training routine? There are many confrontations that occur due to a lack of knowledge. A resident asks a question about your reasonable accommodation procedure, or your prospect has certain questions about the proposed lease agreement. If you are not well-versed in your company’s policies and procedures, conversations trying to explain them can lead to confusion. Not only that, a misunderstanding or misquote can lead to a fair housing violation, especially if you are speaking with a tester.
So, how do you avoid issues such as these? For property managers, ensure you’re training staff (newcomers and veterans) regularly on your company’s policies and procedures. Also make sure when there are changes, updates, or addendums, your staff is informed promptly of it. For leasing consultants, if you are unsure of how to answer a question posed about certain policies, it’s always the better choice to return to the conversation. Use transitional phrases such as ensuring you will follow up with them on the question or that you want to speak with your manager to make sure you can provide a clear answer. Avoid trying to guess your way through your
answer, as the smallest miscommunication can lead to a fair housing violation.
Inner Dialogue
You just picked up the phone, and before you can finish your greeting, you feel the ringing in your ear from an angry prospect screaming at you. Or a resident steps into the office, and you can see the figurative steam fuming out of their ears, ready to give you a piece of their mind. An important part of confrontation management is mental preparation. Many have said it, and more than likely, you have heard it before; ‘respect is a two way street; treat people how you want to be treated’. While the latter part of this golden rule applies, unfortunately, in customer service respect is not a two-way street. However, it is up to you as a professional to remain calm and collected. Mentally preparing for that lack of respect when you identify a point of conflict is crucial to staying professional.
Now that the confrontation has begun, the prospect or resident is ranting and raving about something, and you’re ready with your response to try to calm the situation. While this is a natural, knee-jerk reaction, it isn’t the most effective way to reduce the tension. If the resident/prospect feels like they’re not being heard, the situation could escalate further. It could even lead to a fair housing violation if it were perceived that the lack of understanding was based on a protected category like race or sex. Instead, employ the use of active listening. This means clearing your train of thought and trying to fight that urge to build your response as the individual is still speaking. Focus on what they’re saying so that you can isolate the point of contention.
The source of the confrontation will dictate how you proceed. If there was an issue with, say, a policy in a lease agreement pertaining to an early move-out, then a gentle reminder is in order. If you have kept up to date with your training on your company policies, you’ll be able to clearly explain the procedures they should follow. On the flip side of the coin, if the source of a confrontation comes from an issue pertaining to one of the protected categories (i.e., disability), then a reasonable accommodation must be taken into consideration. Even if it breaks policy, it is your responsibility, according to the Fair Housing Act, to follow through. Thoroughly communicate the next steps for a reasonable accommodation request.
Concluding Steps
The confrontation has come to an end; what are your concluding steps? As always, focus on proper documentation of the whole event. Consider noting down the source of what caused the issue in the first place. Could it have been avoided? If so, making note of this can help you avoid a similar situation from happening again. Now, if a reasonable accommodation was specifically spoken about, make sure you follow through. A breakdown of communication can reignite the confrontation, leading to a fair housing complaint that you want to avoid.
Professional Communication
You’ve taken the steps, cleared your mind, and listened to the irate person in front of you. By listening, you’ve been able to figure out why they are so angry. Once there is space, your first step should be to acknowledge the frustration and empathize with them. Remember, if you show you acknowledge and understand their problem, then you can avoid a fair housing complaint.
Remember, the prospect/resident isn’t necessarily mad at you; they’re mad at the situation or the events surrounding a conflict. They could even be angry about your company’s policy, something that you are employed to enforce, not change. Calmly prepare yourself for the conflict by staying up to date on company procedures and ensuring you’re mentally prepared to actively listen. Be considerate and acknowledge their source of frustration. Confidently restate company policies and procedures when space in the conversation is given. If a reasonable accommodation is required, confidently guide them through the process. Staying calm, considerate, and confident is the key to success during high-stress confrontations while avoiding fair housing violations.
Market Line Report - Austin
MARKET SNAPSHOT
HOTTEST SUBMARKETS
Based on the best combination of rental rate growth and absorption over the past 3 months. There are a total of 14 submarkets in the Austin area.
Concessions are generally represented by three types of specials: move-in, months free, or floorplan. These specials are prorated over a lease term to arrive at a percentage reduction in market or street rents.
Statistics derived from a
JUNE - AUGUST
COMMUNITY OF THE YEAR MYSTERY SHOPS
PROFESSIONAL OF THE YEAR NOMINATIONS OPEN AUGUST
COMMUNITY OF THE YEAR FINALISTS ANNOUNCED
AUGUST 1ST - SEPTEMBER 2ND
SEPTEMBER 2ND - SEPTEMBER 30TH
COMMUNITY OF THE YEAR MYSTERY SHOPS
SEPTEMBER - NOVEMBER
COMMUNITY OF THE YEAR PROPERTY INSPECTIONS
OCTOBER 2ND APEX AWARDS REGISTRATION OPEN
OCTOBER 25TH
COMMUNITY OF THE YEAR FINALISTS ANNOUNCED
COMMUNITY
Education OPPORTUNITES
YOUR CHANCE TO GROW AND LEARN
Visit austinaptassoc.com/events/education for more class info and to register Questions? Contact AAA at (512)323-0990 or email education@austinaptassoc.com.
Food For Thought: Multi-housing Crime Prevention Program
In this workshop, you will learn how Canva can help you create marketing graphics like a rockstar! This affordable program allows you to easily “drag and drop” images, text, and other elements to create online and offline marketing materials. We will show you how incorporate your own images and fonts, bring in animated elements and learn the latest cool effects, tips, and hacks to bring your marketing graphics to the next level!
Pricing: Early Member Rate: $19 | Member Rate: $29 | Non-Member Rate: $39 | Free for StarPass “SMART” Subscribers!
CECs: 1
In this webinar, we will focus on reducing the loss of life and property by lessening the impact of disasters and emergencies. This refers to the action that can prevent an emergency, reduce the chance of an emergency and/or reduce the damaging affects of unavoidable emergencies.
Certified Apartment Portfolio Supervisor (CAPS)
August 6th - September 10th From 9AM - 1PM Course Good For Education Tracks:
Presenter: Sue Weston
Address: Virtual
Pricing: Member Rate: $1,415 | Non-Member Rate: $1,650 | Get 10% off your CAPS registration with the StarPass “SMART” Subscribers
CECs: 6
This program’s curriculum emphasizes recruiting, retaining and engaging high-performing employees. You’ll also learn how to analyze and report property and portfolio financial results, conduct due diligence and community takeovers and oversee management agreements. an emergency, reduce the chance of an emergency and/or reduce the damaging affects of unavoidable emergencies.
Best Practices for Maintenance: Spreadsheet Tips & Tricks
August 8th From 9 AM - 12 PM Course Good For Education Tracks:
Presenter: Julie Irvin Hartman, Julie Irvin Hartman and Guest Speaker: Ryan Vonier, Griffis
Pricing: Early Bird: $85 | Member: $95 | NonMember Rate: $110 | Free for StarPass “SMART” Subscribers!
CECs: 3
In this session, participants will gain new understanding of what HUD requires of TWCCRD’s investigators. Be introduced to the Prima Facie elements utilized by TWCCRD Investigators. Review of RAR interactive process and what is expected
INSIDERS
WEBINAR WEDNESDAYS
7/10/2024 MAINTENANCE MAVERICKS - FOSTERING EMPOWERMENT AND EXCEPTIONAL CUSTOMER SERVICE
Megan Orser, Shatoria Daniels, Angel Davila
7/17/2024 PASSION IN PURPOSE WORKSHOP: LET NOT MULTIFAMILY STEAL YOUR JOY
Kiki Clarke
7/24/2024 MASTERMIND: BUSINESS LESSONS FROM TAYLOR SWIFT
Donje Putnam and Tammy Longo
8/7/2024 NUMBERS NEVER LIE: UNDERSTANDING THE NUMBERS THAT REALLY MATTER THE MOST
Bill Nye
by investigators from you. Why HUD requires comparable or comparable data. And lastly, enhance and Improve your TWC Customer Care Experience.
Certified Apartment Manager (CAM)
August 21st -October 2nd From 9 AM - 1 AM Course Good For Education Tracks:
Presenter: Sue Weston
Address: Virtual
Pricing: Member Rate: $4950 | Non-Member Rate: $1185 | Get 10% off your CAM registration with the StarPass “SMART” Subscription
CECs: 6
Leasing professionals are the first people prospective residents meet and are responsible for generating traffic, conducting leasing demonstrations, overcoming objections and qualifying prospective residents. This program teaches all these skills and more.
Food For Thought: Fire Watch/ Fire Safety
August 21st From 12 PM - 1 PM Course Good For Education Tracks:
Presenter: Bobby Brown & Steve Butler, Eagle Eye Fire Watch
8/28/2024 FAIR HOUSING: WHAT TESTERS ARE LOOKING FOR Anne Sadovsky
9/11/2024 CRASH COURSE FOR CRANKING UP YOUR PRODUCTIVITY
Helene Segura
9/18/2024 CRASH COURSE FOR CRANKING UP YOUR PRODUCTIVITY
Steve Matre
- 2:00PM
A Closer Look: ‘Lease Details’ in the New AAA Lease 2.0
September 13th From 9 AM - 12 PM Course Good For Education Tracks:
Presenter: Corey Rogers
Address: Virtual
Pricing: Early Bird: $75 | Regular Member: $85 | Non-Member: $105 | Free for StarPass “SMART” Subscribers
CECs: 3
The TAA Lease...Clause By Clause class provides attendees the opportunity to dive into an in-depth review of the Texas Apartment Association Lease one clause at a time.
Certified Pool Oporator (CPO)
September 19th-20th From 8:30 AM-4:30PM Course Good For Education Tracks:
Presenter: Mitchell Bouzek, Commerical Swim
Address: Virtual
Pricing: Early Bird: $75 | Regular Member: $85 | Non-Member: $105 | Free for StarPass “SMART” Subscribers
CECs: 3
The TAA Lease...Clause By Clause class provides attendees the opportunity to dive into an in-depth review of the Texas Apartment Association Lease one clause at a time.
Certificate for Apartment Maintenance Technician (CAMT)
(Offered
in English & Spanish)
Sept 30th - Oct 4th From 8:30 AM- 4:30 PM Course Good For Education Tracks:
PRICING: Member: $985 | Non-Member: $1,175 | Not eligible for StarPass “SMART” Subscription CECs: None
This course is designed as an introduction for new maintenance professionals or as a refresher for the veteran employee, to give these professionals the knowledge and tools necessary to run an effective maintenance program.
BUSINESS EXCHANGE
RECAP
BUILDING CONNECTIONS. POWERING PARTNERSHIPS.
Thank you to all of the owner management companies who volunteered their time and expertise to make the Apartment PAC Austin fundraiser a success. A huge thank you to our supplier partners who generously gave their time and money to participate. Lastly, thanks to Lacie Bailey with MRI Software, who presented an Apartment Market Data update at the end of the program that provided valuable insights and benefits. Participation and financial contribution related to the Business Exchange help AAA keep a strong and active voice at all levels of government.
Reevaluating the critical skill ‘must-haves’ of new hires and leaders
By: Robert Cote | Hire Priority Staffing, COO
It’s 2024 and as the digital age made way for the information age which now too makes way for BIG DATA’s age, leaders of all organizations are both mindful and anxious of the irreversible impact on the nature of what it means to well…WORK. The pandemic forever altered the workplace and it’s become clear the pivot to remote and hybrid work models will persist. Sadly gone are the days of Dolly Parton’s nine-to-five and they are likely never to return. Communication tools like Slack, Teams, and WhatsApp make it possible to be anywhere and yet still at work. New collaboration platforms such as Trello, Monday, Canva…and let us not forget the real ‘OG’ of remote work, G-Suite…provide employees an office virtually everywhere while allowing collaborators to be anywhere. A result of these changes: being at work has become indistinguishable from not being at work.
The abrupt nature and undeniable impact of this evolution to the workplace paradigm, whereby the work now comes to you instead of you going to it, demands organizations urgently reevaluate the critical skill ‘must-haves’ of new hires and leaders. The exponentially increasing reliance on automation, data driven decision making, and AI in all workplaces…point to one inescapable truth: the decreasing
value of hard skills and increasing importance of soft skills. Hard skills, those acquired through years of formal education and professional development, are increasingly delegated to information platforms and AI resources. Tasks in accounting, auditing, HR, IT compliance, marketing, copywriting, even legal contract authorship are now heavily or even entirely executed by emerging and new technologies. And though hard skills remain important, they no longer differentiate an excellent hire from a mediocre one or worse still…a misfire!
Employers have taken note of this development, a recent report by Zip Recruiter revealed as many as 60% of employers no longer require a bachelor’s degree for new openings, a trend up by over 25% just in the last two years. With employers increasingly implementing new technology to deliver results and achieve scale, while at the same time less reliant on old methods to screen and assess new hires, where do they turn to ensure the right people join their teams and become their leaders? Ladies and Gentlemen…for your consideration: SOFT SKILLS.
Previously underappreciated and oversimplified as merely EQ, soft skills are critical traits and abilities which
ensure teams excel irrespective of if they are working in-person together, at the same time together or even speaking the same language together. These skills however are not easily defined, measured, or verified –commonplace characteristics of hard skills. Once returned from the pandemic pause in late 2020, employers began to emphasize recruiting and developing employees with a mastery of these skills. And so, it begs, what precisely are SOFT SKILLS?
The following list while not conclusive represents the seven ‘soft skills’ widely recognized by experts as most essential:
1 Communication:
This is the ability to convey information effectively and efficiently. In a diverse and dispersed team, clear and concise communication is crucial for ensuring everyone is on the same page.
2 Teamwork:
This involves the ability to work collaboratively with others towards a common goal. A team that works well together can achieve more than the sum of its parts.
3 Problem-Solving:
This is the ability to identify, analyze, and find solutions to problems. In the fast-paced business world, the ability to solve problems quickly and effectively is invaluable.
4. Adaptability:
This involves the ability to adjust to new conditions and changes in the environment. In an ever-changing world, adaptability is key to staying relevant and competitive.
5. Critical Thinking:
This is the ability to objectively analyze and evaluate an issue to form a judgment. Critical thinking allows for better decision-making and problem-solving.
6 Leadership:
This involves the ability to guide, inspire, and influence others. Good leaders can drive their teams to achieve their best work.
7 Work Ethic:
This is the ability to maintain a strong sense of responsibility and commitment to one’s job and accountability to one’s team. A strong work ethic can lead to high productivity and unmatched work quality.
Attracting new hires already adept at deploying these soft skills is not only a wise approach to accessing top talent in the market…it’s also the single best approach to ‘future proof’ an organization against volatile market disruption brought about through tech advances. As employers face their futures with confidence, it’s imperative they embrace the idea that soft skills will soon overshadow hard skills in driving the success of not only individuals within a team but also the organizations in which those teams reside.
In acknowledging the post-pandemic work paradigm, employers now appreciate the need for different skills in their workforce…particularly skills such as interpersonal effectiveness and emotional resilience. According to a report by McKinsey & Company, the proportion of companies seeking employees awash in empathy and expert at interpersonal effectiveness doubled in 2020 alone. This shift is not a temporary reaction to the pandemic rather it’s a long-term trend that will continue well into the future.
In this age of automation, algorithms and AI, soft skills are the new ‘must-haves’ of the workforce. But they can be a challenge to master especially when more and more work is accomplished remotely. Without daily, in-person interactions with colleagues, appreciating the nuances of everyone’s
communication and collaboration preferences is just plain hard. This makes identifying, attracting and retaining employees already adept in these areas a key discipline for an organization’s recruiting efforts. And while educational qualifications and prior experience might remain the first threshold to cross in some companies, a recent panel of experts on emerging employment trends hosted by Deloitte, estimates two-thirds of all jobs by 2030…not really the future folks…will be soft skill intensive occupations.
A clear shift towards remote and hybrid work models emerged from the pandemic and rendered obsolete much of the traditional workplace. As employers look to the future, soft skills are more likely to be the key success drivers of high performing individuals and winning organizations alike. The ability to communicate effectively, be accountable to a team, solve problems, adapt to new situations, think critically, lead others and maintain a strong work ethic are the connective tissue securing a company’s success in an otherwise disconnected work environment. When employers prioritize the hiring and development of a workforce already adept in soft skills, they can tackle the challenges of today and seize the opportunities of tomorrow. It’s not hard to see that soft skills are key!
Law IN ORDER
THE
ESSENTIAL ROLE OF ADMINISTRATIVE SUPPORT IN THE MULTIFAMILY INDUSTRY
By Priscilla Vargas, Hari Nathan Kalyan and Allison Mattocks
These roles, often underappreciated, are the backbone of efficient property management and smooth interactions between multifamily businesses and their supplier-partners and service providers.
Administrative support roles have a rich history and have played a significant role in the evolution of the modern business organization. Historically, these positions were often seen as clerical and secretarial, predominantly filled by women in the mid-20th century. Tasks were primarily manual, involving typewriters, filing systems, and physical communication methods. The late 20th century saw the advent of computers and the internet, revolutionizing these roles. Administrative assistants transitioned from traditional secretarial tasks to more complex responsibilities, including data management, scheduling, and communication coordination. The development of technology and computer software further enhanced their capabilities, allowing for increased productivity and efficiency.
At Warren Kalyan Mattocks, one of our primary focuses is servicing the needs of the multifamily industry as well as supplier-partners in the greater ecosystem of the industry. As such, we are acutely aware of the complexity involved with operating multifamily properties. The successful operation of a property relies heavily on various
roles, and administrative support is certainly one of the most crucial. These roles, often underappreciated, are the backbone of efficient property management and smooth interactions between multifamily businesses and their supplier-partners and service providers.
Importance of Administrative Support in the Multifamily Industry
In the multifamily real estate industry, administrative support roles are indispensable. These roles encompass a wide range of responsibilities, including:
1. Tenant Relations and Communication
Administrative staff are often the first point of contact for tenants, addressing inquiries, processing applications, and managing lease agreements. Effective communication and prompt response to tenant needs are essential for tenant satisfaction and retention.
2. Property Management
Administrative support involves coordinating maintenance requests, managing service contracts, and ensuring compliance with local regulations. This role is vital in
maintaining the property’s value and ensuring a safe and comfortable living environment for residents. In Texas, administrative support must ensure compliance with statutes such as the Texas Property Code, which governs landlord-tenant relationships and property management practices. Knowledge and understanding of the Federal Fair Housing Act is also key for managers tasked with responding to accommodation requests from residents.
3. Financial Administration
Tasks such as rent collection, bookkeeping, and budget management fall under administrative support. Accurate financial records and timely processing of transactions are critical for the financial health of the property and the broader organization. Administrative support must also ensure compliance with the Texas Business Organizations Code, which includes provisions on financial recordkeeping and reporting for business entities.
4. Coordination with SupplierPartners and Service Providers
Multifamily properties rely on a network of suppliers and service providers for maintenance, repairs,
Their firsthand knowledge and detailed recordkeeping can significantly impact the outcome of eviction proceedings
and renovations. Administrative support ensures seamless coordination, scheduling services, processing invoices, and maintaining relationships with these partners.
5. Acting as Witnesses in Eviction Hearings
Non-lawyer administrative employees play a critical role in eviction hearings by serving as witnesses. Under the Texas Rules of Civil Procedure, these employees can provide testimony regarding lease agreements, payment histories, tenant communications, and other relevant documentation. Their firsthand knowledge and detailed record-keeping can significantly impact the outcome of eviction proceedings. By presenting clear and accurate evidence, administrative staff help ensure that the property management’s case is well-supported, demonstrating compliance with statutory requirements and lease terms.
6. Delivering Notices of Eviction
According to Texas Property Code § 24.005(f) and (f-1), a landlord or a landlord’s agent, including administrative employees, may deliver a notice to vacate through several methods:
A --- In person to the tenant or a person residing at the premises who is 16 years of age or older.
B --- By affixing the notice to the inside of the main entry door.
C -- If no one is available to receive the notice in person and entry is not possible, for certain enumerated reasons (e.g., alarm system, the deadbolt is engaged, presence of a dangerous animal, etc.), the notice may be securely affixed to the outside of the main entry door, in a sealed envelope with appropriate markings indicating it is a notice to vacate, and must be mailed by certified mail, return receipt requested by 5 pm that day, from the same county as the premises are located.
This statutory provision ensures that administrative staff can handle the critical task of delivering eviction notices, thereby streamlining the process, and ensuring legal compliance. Because strict compliance with this section of the Texas Property Code is required to prevail in an eviction
action, the staff member that delivers the notice will likely serve as the landlord’s witness at the eviction trial, testifying as to their firsthand knowledge of proper delivery.
The Ecosystem of SupplierPartners and Service Providers
The multifamily real estate industry does not operate in isolation. It is part of a broader ecosystem involving various supplier-partners and service providers, such as maintenance contractors, landscaping companies, security services, and technology vendors. Administrative support roles play a pivotal role in managing these relationships, ensuring that services are delivered efficiently and effectively.
By maintaining organized records, scheduling regular maintenance, and facilitating communication between property management and service providers, administrative staff ensure that the multifamily property operates smoothly. Their role in negotiating contracts and managing service agreements also contributes to cost savings and improved service quality.
transformed administrative support roles, bringing both opportunities and challenges.
Digitization has streamlined many administrative tasks, reducing the reliance on paper-based processes and enabling more efficient data management. Property management software allows for centralized recordkeeping, automated rent collection, and real-time communication with tenants and service providers. This shift has enhanced productivity and accuracy, allowing administrative staff to focus on more strategic tasks.
The COVID-19 pandemic accelerated the adoption of remote work, including in the multifamily real estate sector. Administrative support roles have adapted to this change, with cloudbased software and communication tools facilitating remote operations. Remote work has proven to be effective, offering flexibility and expanding the talent pool by allowing organizations to hire staff from diverse geographical locations.
Artificial Intelligence (AI) is making significant inroads into administrative support, automating routine tasks such as scheduling, data entry, and customer service through chatbots. AI-driven analytics provide valuable insights into tenant behavior, maintenance needs, and financial performance, aiding decision-making processes.
The Irreplaceable Human Element
Despite these technological advancements, the human element in administrative support roles remains irreplaceable. AI and automation can handle repetitive tasks, but the complexity and nuance of human interactions, problem-solving, and decision-making require a human touch.
1. Tenant Relations
Impact of Digitization, Remote Work, and AI Technology
The advent of digitization, remote work, and AI technology has
While chatbots can handle basic inquiries, resolving complex tenant issues and building relationships require empathy, understanding, and personalized communication that only humans can provide.
2. Crisis Management
In emergencies or unexpected situations, the ability to assess, react,
and coordinate responses effectively is a uniquely human capability.
Administrative staff play a crucial role in these scenarios, ensuring the safety and well-being of residents. This includes conduct-based evictions where tenants may pose a threat to safety or engage in illegal activities. When a resident violates the conduct prohibitions in the Lease, landlords may initiate eviction proceedings for conduct-based reasons such as criminal activity, destruction of property, or other lease violations.
Administrative employees must maintain detailed records of tenant behavior and incidents to support these eviction cases effectively. Texas case law underscores the importance of thorough documentation and adherence to legal procedures in eviction processes.
3. Strategic Planning
Administrative support roles often involve strategic planning and critical thinking, particularly in coordinating with supplier-partners and managing budgets. These tasks require a level of judgment and foresight that AI has yet to replicate fully.
Conclusion
Administrative support roles are the unsung heroes of the multifamily real estate industry and its ecosystem. Their historical evolution, from manual clerical tasks to complex, tech-enabled responsibilities, highlights their adaptability and growing importance. While digitization, remote work, and AI technology have transformed these roles, the human element remains essential for effective tenant relations, crisis management, and strategic planning.
Hari Nathan Kalyan and Allison Marrocks are partners with Warren Kalyan Mattocks, a business law firm with offices in Texas (Austin and San Antonio) and New York City (Brooklyn), serving clients within the hospitality and multifamily real estate industries, including businesses and services providers within the wider ecosystems of those industries. For more information, please contact our offices at hello@warrenkalyan.com or (512) 347-8777.
