MULTIFAMILY INVESTING IN A POST-CORONAVIRUS SOCIAL DISTANCING WORLD

MULTIFAMILY INVESTING IN A POST-CORONAVIRUS SOCIAL DISTANCING WORLD

The world we live in will be inexplicably changed as we slowly overcome what has occurred over the past month.  Although it may seem hazy now, we will all regain our fervor to work hard, rebuild whatever needs repairing, and strengthen the economy once again!

How Does Coronavirus Affect the Multifamily Industry?

The current  and future events present a new set of challenges and opportunities for savvy multifamily owners, operators and investors.  The changes, some temporary in nature and some permanent, will be necessary to ensure the health, well-being and desired lifestyles for each type of asset class renter.  They will also determine the continued profitable operations for owners.

Social Distancing and the Multifamily Industry

Apartment living by its nature presents unique challenges: proximity, communal areas, shared spaces and confined areas. 

Of greatest importance to asset owners should be the safety, well-being and satisfaction of its current and future tenants with considerable emphasis on clean spaces, sanitation, disinfecting and reasonable social distancing. 

Somewhat radical thinking? No. 

Critically important in order to stabilize and increase occupancy. I believe yes!

What Does the Future Hold?

We all wish to hold the proverbial crystal ball when it comes to what the future will hold for the multifamily investor.

Along with the myriad of financial issues asset owners currently face, it’s important to recognize that things will return back to normalcy. The new definition of normalcy may be different than what we are used to, but it will best reflect what the industry as a whole needs to be able to provide what renters are looking for.

The proactive owner and/or investor will be better positioned as the dip in short term demand will not affect the overall positive macro trend in multifamily housing.

Stay tuned to Part 2 or our series on Multifamily Investing in a Post-Coronavirus Social-Distancing World, when we discuss how to safely reopen community fitness centers, as well as common areas.