In Effort to Drive NOI, Operators Look to Technology
In the past year, the multifamily industry has turned to technology to overcome the unique obstacles brought on by COVID-19. Many owners and managers had intended to gradually transition into some of these solutions that enhanced efficiency, but then practically overnight, they found themselves having to pivot when nationwide shutdowns were put in place in March.
Pre-COVID-19, many felt they were making great strides toward finding new and better ways to operate their properties. So, they weren’t afraid to dive in headfirst when it came to changing how they operate their offices, conduct tours, or communicate with their teams and residents. We reached out to several real estate executives to find out how they have adapted their operations during the pandemic and how they are using technology to drive net operating income (NOI). Here are are the main takeaways from our conversations: