The attached article speaks to the importance of on-site management/resident interactions. It stresses the importance of personal interactions with residents and not emailing or texting. This may sound particularly challenging to Millennials. I was with a friend and his 26-year-old daughter recently driving properties my friend owned along the Wasatch Front here in Utah. As we chatted and visited in the front seat, his daughter was in the back texting away. After about an hour, I asked her, “How often do you speak with your friends on your phone?” Her immediate answer? “Never.” Why not, I asked. “This is easier.” Never? “Never.” So if your on-site staff includes Millennials, you may need to spend more than a little time teaching them how to interact with your residents in a non-digital way, personal, human way. I can’t believe I’m writing this…. 

 

 

Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.

 

Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.