IRVINE, CA-One of the largest multifamily property-management companies in the Western US, Western National Property Management manages more than 150 properties in three states. GlobeSt.com sat down with president Laura Khouri to discuss where renter demand exists and what she sees as the hottest trends in apartment management today.

GlobeSt.com: Where are you seeing the most renter demand in today's market?

Laura Khouri: Renter demand is high in almost every aspect of today's market. Specifically, we are seeing a great deal of increased demand in existing communities which have recently been purchased. When a multifamily project changes hands, there is typically a transitional period where improvements are made, and often new property-management companies are retained. During this time, demand from new renters tends to rise.

In addition, one of the key areas where demand has grown substantially is in secondary and tertiary markets in the Western US. For example, the Crossing at Daybreak, which was recently developed by Western National Group in South Jordan, UT, attracted a very strong renter response during its initial lease-up, regardless of its location in a tertiary market.

GlobeSt.com: Are you seeing any new trends emerging in your industry? If so, how has your company positioned itself to respond to these trends?

L.K.:One of the most significant trends in the multifamily industry is the integration of various property-management software tools. Today, we are seeing leasing software and Internet providers beginning to work together to ensure that data migration between these sources is more fluid and transparent. For example, we have developed a number of integrated in-house software tools that help to manage the revenue process.

One of the most significant examples is the integration of a revenue-maximizer program, which we are rolling out in various submarkets. Through this program, we provide an entire training program for our on-site teams, through which they may properly prepare to sell according to the actual flexible leasing terms available to each prospective resident. This integrated software has proven to be a very substantial factor when negotiating lease and rental terms. The result is that our leasing consultants are more deeply skilled, which enables us to further set ourselves apart from competitors.

GlobeSt.com: Are new property-management tools, such as iPads and renter portal systems, a positive change for your properties?

L.K.: Resident portals have become a vital tool for our team, and they have an enormously positive effect on each community we serve. Through these tools, residents can easily contact our office and maintenance teams, and we in turn can accommodate service requests quickly and efficiently. By introducing resident portals in each of our communities, we are able to serve our residents more thoroughly while also saving each owner the expense of delayed repairs.

In addition, iPads are very helpful to our leasing teams, giving them the ability to market to prospective residents interactively. We anticipate that the use of these tools will only increase over the coming years and will ultimately be the norm for apartment communities.

Stay tuned to the Orange County page for a follow-up story in which Khouri discusses strategies for staying ahead in the competitive multifamily sector.

Instant Insights /

Management Software Tools Trending Big

Related Stories

Recommended For You