Source: Forbes —
The biggest problem in multifamily real estate is not the pandemic, rent abatement or vacancies. From my perspective, it’s employee turnover — a problem that is being exacerbated by the Great Resignation.
As the co-founder of an operations and maintenance platform for apartments, I’m observing that managing multifamily properties has become even more challenging with many tenants now working from home, which can increase the physical wear and tear on the property and the strain on front-office workers if teams are short-staffed. It’s vital to the bottom line of a multifamily company to have knowledgeable staff who can keep up with increased demands while maintaining property oversight.