Multifamily companies are ramping up recruitment during thepandemic. The COVID-19 crisis and the subsequent economic fallouthas catalyzed increased staffing efforts in property management,business development and client services, according to RETSAssociates. Augmenting these departments will helpcompanies respond to changing market dynamics.

"As the economy begins its recovery from COVID-19, themultifamily sector is expected to fare better than many otherproperty types in terms of vacancies and rental rates,"Kent Elliott, a principal for RETS Associates,tells GlobeSt.com. "Demand for apartment communities from rentersand buyers is likely to bounce back quickly, which is promptingmultifamily investors to beef up their teams in preparation. Peoplewill always need a place to live, regardless of where the economyis. When financial security is uncertain—as it is rightnow—apartment communities reap the benefit in increaseddemand."

In addition, multifamily companies are anticipating an increasein acquisition opportunities later this year and next year, andthey are preparing now for that future. "In a sector wherevaluations were previously soaring, the market is adjusting anddrawing in multifamily investors of all stripes," says Elliott. "Ascompanies invest more heavily in apartment communities nationwide,many are augmenting their teams to acquire and manage theseproperties."