Management Diaries: Reviving Multifamily Communities

For owners and operators, an underperforming property can negatively impact renewals, resident engagement and even on-site teams. My guest for this episode is John Griggs, co-founder & co-CEO of Presidium. We talk about how operators can identify problems early and get properties back on track, without your residents losing faith in you. Even the small issues, like a broken window or a candy wrapper on the ground, can signal neglect. Griggs points to early warning signs that need attention, which can be physical signs such as poor upkeep or deeper issues such as decreasing renewal rates and consistent negative feedback. Here are a few highlights from this episode:Early warning signs and red flags operators should watch out for (3:12)Applying the broken-window theory to property maintenance (8:25)Focusing your communication before, during and after renovations (13:45)The best course of action for leaders to guide a struggling property back on track (21:18)What separates multifamily from other industries (25:08)