Finding An Apartment Is Hard. Finding Workers For Those Apartments Is Much Harder Any renter searching for an apartment, or retiree trying to choose a senior living home, can attest to the remarkable amount of demand in the market for managed residences, and to the cost increases that come with that demand. But out of sight of users like these is a staffing shortage that eats into profit margins and leaves residents without services they might expect. The shortage of workers, especially maintenance staff, has become the No. 1 issue discussed by owners and operators, according to National Apartment Association Chairman and President Don Bruner, who’s also CEO of BRG Apartments. It’s an “everyday conversation” for the industry, he said, and at the organization’s June conference, there were extensive discussions of ways to train, recruit and hire staff. The lack of workers to fix broken pipes, repair and flip vacated apartments and perform routine upkeep is just one of the many drags that a nationwide labor shortage has placed on commercial real estate. “The competition for talent, and the dearth of talent, it's all real,” National Multifamily Housing Council Vice President of Business Strategy Sarah Yaussi told Bisnow. 
A survey of 600 property management companies taken in August by Zego, a proptech firm providing software solutions for the industry, found participants had experienced a 50% staff turnover in the last year, exacerbating tenant turnover, a significant cost. The research suggested each turnover cost an owner $4K, said  Read the full story here. | | |
