Traditionally, creating a sense of community has been a great way to make residents feel at home, leading to positive reviews, referrals and increased renewals. Multifamily properties host happy hours, movie nights and exercise classes to help renters connect with each other and the property team. They create and update shared spaces and amenities to make sure they are comfortable and welcoming. But how do you create a sense of community when people can’t gather? Property managers everywhere are asking this question now because of the social distancing measures put in place during the COVID-19 pandemic. We’re here to help. First, watch a video from our new “Moments of Genius with Drew Davis” series to get creative community building tips you can use right now. Then, see what the award-winning team at Bozzuto is doing. And finally, discover tech tools that can help bring your residents and team members together. 6 Creative Ideas Watch this short, five-minute video from Drew Davis to learn six creative ways and four key principles to foster community at your properties — even when we can’t all be in the same place. Drew is one of the world’s top marketing experts. He is working closely with us to share monthly tips specific to property management as we navigate this rapidly changing market together. Wasn’t that fun and inspiring? Drew is just the shot of positive energy we need right now, and we’re excited to see what he has in store for us. Subscribe to “Moments of Genius” now to see new episodes when they’re released. #BozzutoStaysHome When stay-at-home orders started getting handed down, the team at Bozzuto knew they had to spring into action. “We asked ourselves, ‘How do we continue to provide value to our residents when they can’t use the amenities?’” said Nicole Wells, content marketing manager for digital marketing and strategy at Bozzuto. #BozzutoStaysHome was the result, an online program that connects residents, includes the community and celebrates the idea of sanctuary, ultimately promoting shelter-in-place behaviors to flatten the curve. It includes a calendar of weekly virtual events led by community partners like yoga classes and cooking demonstrations as well as curated playlists designed to lift spirits and nurture a sense of connection. Events are shared live on Facebook and Instagram. Facebook Live events like this Vinyasa yoga class are recorded and shared so anyone can watch anytime, racking up hundreds of views. “To get started, we put together a cross-team task force. We asked our residents what they wanted to see,” shared Wells. Once the concept started coming together, “We created assets for our communities to use so they don’t have to do that extra work themselves. They already have enough to focus on right now.” With more than 400 posts using the hashtag on Instagram in just a few weeks and hundreds of viewers to their live and recorded events, #BozzutoStaysHome is picking up traction. “Bozzuto is helping residents engage in a little bit of fun at home during quarantine,” said Wells. “They’re receptive to that, and we’re happy to be a bright spot.” Tech That Connects People can’t participate in your community engagement efforts if they don’t know about them. In the words of Drew Davis, “Make sure your residents know where to go for the latest information about your property and the fun things you’re doing to keep people safe and connected.” With the RENTCafé resident portal and RENTCafé Resident app, you can quickly and easily share information about social distancing efforts and upcoming online events. You can post events to your community calendar and bulletin board, send survey emails and even schedule push notifications if your residents have opted in on the app. Both the portal and the app help your team stay connected while cutting down on face-to-face interactions by taking communications, payments and work orders online. With a 4.8 star rating and more than...

The nation’s home ownership rate is on the decline as rising real estate prices and mortgage rates hold back demand. According to the latest data from the U.S. Census Bureau, the ownership rate dropped to 64.8 percent in the first quarter 2014 from 65.0 percent in the first quarter 2013 and 65.2 in the previous quarter. The rate is the lowest since the second quarter of 1995, when it was 64.7 percent. The Census report also shows that approximately 86.2 percent of the housing units in the United States in the first quarter 2014 were occupied and 13.8 percent were vacant. Owner-occupied housing units made up 55.9 percent of total housing units, while renter-occupied units made up 30.3 percent of the inventory in the first quarter 2014. Renting has started gaining ground mainly due to a combination of factors, including slow job growth, staggering economy, tight mortgage credit and declining affordability. In the first quarter 2014, the median asking rent for vacant for rent units was $766, whereas the median asking sales price for vacant for sale units was $139,200. Aside from the financial considerations, a lot of people turn to renting because of the flexibility that it entails. It’s no secret that young professionals follow the job trail and seek housing that best accommodates their lifestyle needs. Often times, this means that proximity to employment cores, recreational and shopping destinations, as well as sustainability, walkability and comfort turn into powerful retention drivers. While the Millennial generation remains the key renter demographic, baby boomers are expected to give a huge boost to the rental market, particularly due to the increasing number of empty-nesters who are looking to downsize and move into more sustainable homes. With consumer attitudes and habits on an ever-shifting path, the real estate landscape is bound to change as well. For the contemporary renter, mixed-use developments – usually retail and residential units wrapped around each other so as to offer a cohesive live-work-play environment – have become the place to be. Yardi client The Bozzuto Group, a Greenbelt, MD-based real estate services company, builds on such principles as quality, diversity, and inclusion and strives to deliver enhanced communities to cater to today’s most discerning renters – and all of this while respecting the world in which we live. The company’s newest mixed-use development in Washington, D.C., combines a premier location on stately Wisconsin Avenue with brilliantly designed residences and state-of-the-art retail. Dubbed Cathedral Commons, the project is a joint venture of Ahold USA, parent company of Giant Food, Bozzuto Development Company, and Southside Investment Partners of Baltimore. The boutique style building offers 138 apartment residences and eight townhomes which will be available in fall 2014. Among a series of upscale amenities, the property will feature a hotel-style lobby; fitness center; a library and conference room for private meeting space; resident lounge for hosted community social functions; rooftop deck and private outdoor courtyards; and a 24-hour concierge offering Bozzuto’s Top Notch services. Interiors will showcase contemporary design elements, including a chef-inspired kitchen with quartz countertops, custom oak flat-panel cabinetry, white beveled subway backsplashes and upgraded stainless appliances. Living spaces will include hardwood flooring and contemporary chrome LED track lighting, while bathrooms will boast Florentine Carrera floors and showers, chrome fixtures, and custom-designed vanities with integrated square sinks. The retail component, scheduled to begin delivering this fall, includes Barcelona Restaurant & Wine Bar, Raku, iDoc Optical, Wells Fargo, SunTrust, CVS Pharmacy, and Starbucks, as well as the 56,000-square-foot Giant Food, which will bring a new urban prototype concept to the project. H&R Retail handles leasing at the property. “We are excited to bring a mix of locally-based retailers and national brands to one of the most established and historic neighborhoods in the District,” said Toby Bozzuto, president, The Bozzuto Group. “Cathedral Commons and its new retail center will be vibrant, modern additions to Wisconsin Avenue and Northwest D.C....