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20for20 White Paper
20 conversations with senior executives. The multifamily industry's leading review on the outlook for technology and operations
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Centralization takes center stage in the 2023 edition of 20for20. We asked our 20 executive leaders about the projects they had undertaken in 2022 and what they plan to do in 2023.
The results are fascinating and somewhat surprising, with wildly varying approaches and opinions on a year of change. The adoption of AI, smart tech, data analytics and a host of other technologies color this year’s guide to the current state of multifamily operations and technology.
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Some Highlights From Our 2023 Edition...
The Status of Multifamily Centralization
Things are changing in multifamily property management, but perhaps not quite in the way that the industry hype suggests. “Centralization” is the buzzword, but it might not be the most accurate description of how site team roles are changing.
This year’s 20 for 20 interviews dived deep into companies’ 2022 accomplishments and 2023 plans. We found wildly different aspirations and approaches as operators consider changes and their impacts on people, processes and technology.
AI Is Doing More Stuff. What Should People Do?
Multifamily AI adoption has accelerated over the last two years. Most companies now use at least one form of AI to perform property management activities, with many now using multiple different AI apps alongside legacy staffing models.
To transform businesses, AI needs to run at scale. Already we can see that the companies experiencing the greatest gains are the ones who are re-imagining property management roles in an environment where AI is foundational.
Multifamily BI Appears To Be Maturing
Multifamily Business Intelligence (BI) has evolved with each annual edition of 20for20. This year, there are signs that companies’ approaches to BI are maturing.
Operators provided an abundance of examples of insights that they could not have known without BI. Their examples—which are written up in detail in the paper—demonstrate how companies are trying to understand what drives their businesses. And that is exactly the right way to think about BI.
Centralizing Multifamily Maintenance? Look to SFR
Multifamily maintenance is a conundrum: everyone agrees that it’s the hardest property management function to staff fully. You’d think any opportunity to change to a more flexible staffing model would be an instant priority.
But, as the paper highlights, there are legitimate reasons why maintenance is hard to centralize. This year’s 20 conversations revealed an opportunity: companies making headway on maintenance centralization are adopting models that look a lot like single-family rentals
Is Multifamily ESG on the Wrong Desk?
ESG is a constant and growing topic in the industry conversation. A year ago we heard that it was starting to impact some operations and technology leaders’ choices of projects. This year we were keen to find out more.
After 20 new conversations on the subject, it seems that the reporting of ESG is a high priority. Impact, however, is a different matter—it may be time to turn ESG from an operational to a development priority.
The 2022 edition of 20for20 focused on the prioritization of technology and projects as the industry puts the pandemic in the rearview mirror.
With staff shortages ubiquitous, the 20 operations and technology leaders described how technology could improve customer and associate experience. They shared the truth about technology ROI and evolving staffing models.
Our 2021 edition was the most comprehensive and revealing to date. Learn what we heard in our most recent series of 20 interviews with senior multifamily executives about the experience of 2020, dominated by the pandemic. COVID-19 has had an unprecedented impact on multifamily operations. The experience and its implications for both operations and technology are at the heart of the 2021 paper.
At the end of 2019, we took the time to interview another 20 executives to get their perspectives on the multifamily industry outlook. Our interviewees included senior leaders in operations and technology, representing a variety of multifamily owners and operators.
The findings that we have summarized in the 20for20 white paper provide valuable insight into the issues that are currently “top of mind” in multifamily. The instructive and often surprising findings will help you to separate the reality of the industry from the industry hype.
The original 20for20 research was published in February 2019. We wanted to create a new and different perspective, so we interviewed 20 senior leaders in operations and technology, representing a variety of multifamily owners and operators.
With half of the 2019 interviewees also interviewed in the 2020 edition, this original research provides a point of contrast to the current issue, as well as an indication of how much things have changed in a year in multifamily!