MHN Executive Council: 2024’s Surprising Multifamily Trends, Part 2
A look at the rapid pace of technology, and other things that were unexpected this year.
Technology, AI and more: the MHN Executive Council shares even more about what surprised them this year. (Read Part 1 of 2024’s Surprising Multifamily Trends.)
Healthy Habits
The rapid pace of technology keeps influencing interior design in refreshing ways. Streamlined, touchless and rendered with sophisticated digital tools, our presentations and client interactions are increasingly elevated in quality and visual appeal. We can envision spaces more accurately and more quickly, then seamlessly communicate our design intent across the team with greater integration.
We’re paying special attention to the staying power of affordability and wellness. As affordability issues persist across the industry, our designers are placing extra focus on maintaining design integrity while staying within budget. Wellness considerations now extend far beyond fitness centers. Forward thinking developers and designers are responding to the need for improved mental health with innovative design solutions that boost overall well-being. —Mary Cook, President, Mary Cook Associates
Smart Choices
In 2024, one multifamily trend that has stood out to us at The REMM Group is the rapid adoption of advanced AI and smart home technologies. While the integration of smart devices in multifamily housing has been growing, the pace and scale of this integration in 2024 have been quite surprising.
Developers and property managers are incorporating AI-driven systems for everything from predictive maintenance to personalized resident experiences. For example, AI is being used to optimize energy usage in real-time, and smart home features are becoming more sophisticated, allowing residents to control everything from lighting to climate through voice commands or smartphone apps.
Additionally, there’s a growing trend towards using AI to enhance resident engagement and satisfaction. Chatbots and virtual assistants are now common for handling renter requests and issues, providing a more seamless and responsive living experience. Although at REMM Group we emphasize the power of human interaction. Human interaction in customer service is crucial because it builds trust, empathy, and personalized solutions that technology alone cannot provide. It ensures customers feel valued and understood, ultimately leading to higher resident retention and satisfaction.
This shift reflects a broader push towards creating more efficient, tech-enabled living environments that cater to the increasing demand for convenience and connectivity. —Susan McPeak, Corporate Ambassador, The REMM Group
Tech Focused
At ARK Homes For Rent, 2024 highlighted the growing importance of smart home features and digital conveniences, perfectly aligning with our ARK Living program, which integrates technology with wellness-focused amenities. We’ve seen a significant shift in resident expectations, with a stronger demand for community-focused amenities that foster connection and well-being. Our Build-to-Rent (BTR) communities, featuring clubhouses, gyms and green spaces, have become central to this experience.
Additionally, the expansion into smaller, community-centric markets has aligned perfectly with our focus on creating sustainable, engaged living environments. As more residents seek these qualities, we have strengthened our commitment to leading in innovation and community development. —Jordan Kavana, Founder & Chairman, ARK Homes for Rent
Interested in joining the MHN Executive Council and sharing your insights? Email Jessica Fiur.
