This influential report features insights from top executives shaping the future of the multifamily real estate industry. Chris’s inclusion highlights Moss & Company’s leadership and expertise in navigating today’s evolving market landscape.

As part of this industry-leading initiative, Chris contributed his perspective on the challenges and opportunities in multifamily operations, investment trends, and regional dynamics.

Read the full report here.

This recognition underscores Moss & Company’s continued commitment to operational excellence, innovation, and thought leadership across the multifamily sector.

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The recent wildfires have been nothing short of catastrophic. Recognizing this urgent need for assistance, Moss & Company has made a decision to help residents who have lost their homes. The heart of this initiative lies in the understanding that a home is not just a physical space; it is a sanctuary filled with memories, love, and comfort. Moss & Company is committed to helping residents reclaim that sense of home, even if temporarily, as they navigate the process of recovery. Moss & Company has been part of the Los Angeles community since 1960. As a regional property management firm, it understands the profound impact these wildfires have had, as several of its own communities have been affected.

“As a Los Angeles based company, we have all been glued to the TV watching the progress of the fires,” says Chris Gray, President at Moss & Company. “We have several properties without power or under evacuation. Many of our friends and clients have lost their homes and we simply want to help. We pray for all affected, and hope we can help families find temporary homes for as long or short as they need to bring some normalcy back in their lives.”

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With the rise of e-commerce and online shopping, people increasingly rely on the opinions of others to make informed decisions about products and services. Online reviews and ratings offer a way for consumers to gauge the quality and reliability of a product or service before making a purchase. So, why would shopping for an apartment be any different? Social proof, which is the psychological phenomenon of people being influenced by the actions of others, plays a big role in it, and it’s for a good reason.

First and foremost, online reviews and ratings are incredibly important to renters because they provide transparency and accountability. In the past, landlords and property management companies could get away with subpar service or poor maintenance because there was no way for renters to share their experiences with others. Online platforms give residents a voice, and their feedback can have a significant impact on the reputation of the property. In turn, property owners and operators pay close attention their online reputation because it can affect their ability to attract new tenants, retain current ones, and ultimately impact their bottom line. This has undoubtedly become a critical component of any successful property management strategy.

Another way that property management companies are leveraging online property reputation is by using it to inform their pricing strategies. By analyzing online reviews and ratings, property managers can gain insights into what tenants value most about their properties. They can then adjust their pricing strategies accordingly, either by offering discounts for certain amenities or by increasing rents for properties that receive consistently high ratings.

So, why do so many landlords pay little to no attention to their property online reviews and rating? We have found that most commonly, after seeing enough negative and exaggerated reviews and failing at communication attempts to remedy, most of these landlords just throw in the towel. Many ask, ‘if I can’t change it, what’s the point’?

The approach to online reputation management has changed over the years. In the past, companies focused on responding to negative reviews and trying to remove them. However, this approach is no longer effective. Instead, effective managers now focus on actively monitoring and managing their online reputation by responding to all reviews, both positive and negative, and using feedback to improve their services.

Negative reviews can serve as an opportunity for landlords to show their tenants and potential renters that they care about their experience. When landlords respond to negative reviews in a professional and empathetic manner, it can help build trust and improve their reputation.

Furthermore, landlords can also use negative reviews as a part of their marketing strategy. Instead of ignoring or deleting negative reviews, landlords can address them head-on by highlighting the steps they have taken to address the issues raised in the reviews. This can demonstrate to potential tenants that the landlord is proactive in resolving issues and cares about the quality of life of their tenants.

In conclusion, online reviews and ratings are incredibly important for attracting and retaining residents, and they can have a significant impact on property management. It's crucial for property management companies to actively monitor and respond to online reviews, as well as use them as a tool to improve their services and better serve their tenants.

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“Smart” Home Technology

Smart home technology is becoming increasingly important in people's lives, as it allows them to control their homes more conveniently and efficiently.  Smart home technology can be used to control lighting, air conditioning, kitchen appliances, security systems, home entertainment and more.  As the apartment communities compete, most property owners are discovering that much of this technology is becoming a necessity their prospective renters.  It is now more common to see a Nest thermostat or a Yale smart lock in an apartment during a leasing tour.  Moreover, many renters expect larger communities to have smart package lockers or on-demand services like ride sharing and dog walking.  Developers are also quickly realizing that to provide smart apartment homes, they must deliver an infrastructure to support connectivity.  Smart HVAC systems and IoT devices are often built into the properties to provide efficiency and seamless resident experience.

Community Live-Work Areas

When renting an apartment, more renters are now looking for community engagement based around indoor and outdoor activities and entertainment.  This trend is closely related to the growing population of renters working from home.  Many of the developers now focus on the community amenities with various functionalities and ample seating areas.  Amenities such as game rooms, rooftop decks, and outdoor gyms have been increasingly popular.  With the popularity of co-working, more apartment communities now offer shared work spaces in the forms of resident lounges, conference rooms and business centers. Additionally, these types communal community amenities provide the renters invaluable opportunities to build new friendships and expand business networks.

Pet-Friendly Amenities

The number of renters with pets in the US has been rapidly growing.  According to a 2023 survey from American Pet Products Association (1), 66% of US households own a pet.  Millennials made up the largest percentage of current pet owners at 33%, followed by Gen X at 25%. Yet, many property owners dismiss this growing market, often seeing pets as potential risk for property damage and lawsuits.  More landlords, however, capitalizing on this growing market while instituting reasonable pet fees and deposits, and implementing pet policies that are easily enforced and followed.  To attract responsible pet owners, many communities offer conveniently located dog runs and relief areas well-stocked pet waste bag stations. Some of the larger communities offer pet playgrounds and spas to make for even a more comfortable experience.  Many operators partner up with local pet grooming and dog walking services; some even offer pet concierge services to maintain a competitive edge.

Honorable Mentions

With the popularity of streaming media, smart home devices and mobile services, over 90% of renters value fast and reliable internet connectivity as a top amenity and a must to any apartment community. 

Green spaces, such as rooftop gardens and outdoor courtyards, are becoming increasingly popular and can provide tenants with an escape from the hustle and bustle of the city.

While on-site laundry facilities are becoming smarter and more convenient, many renters are shifting towards in-unit washers and dryers, and are willing to pay more for it. 

While on-site parking remains to be important in most markets, a growing number of renters prefer to use ride-sharing services.

In a recent study by Les Mills (2), Gen Z and Millennials made up 80% of all gym goers. 85% of all gym members also now do workouts at home.  As result, increasing number of renters demand robust on-site fitness amenities to support their active lifestyles.   

1. Reference: American Pet Products Association (2023-2024)  https://www.americanpetproducts.org/press_industrytrends.asp

2. Reference: Les Mills study https://www.lesmills.com/us/clubs-and-facilities/research-insights/audience-insights/generation-active-the-80-your-club-cant-ignore/

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