2 minute read
President's Perspective
As someone who’s been in the Austin apartment industry for the past couple of decades, I can tell you one thing for sure: this industry has never been busier. We’ve seen a constant influx of people drawn to Austin’s vibrant culture, booming tech industry, and (let’s be honest) that year-round sunshine. Today, the competition is fierce, and development has resulted in hundreds of apartment communities opening in our metro in the last year. Amenities that were once considered luxurious – rooftop pools, dog parks, yoga studios onsite – are becoming standard. It’s a challenging market, with rental growth flat (at best) and low vacancies, a rarity. On top of that, I know we are all experiencing heightened expenses along with heightened expectations.
All this adds up to a pressure-filled present day. When the pressure is on, one thing I always lean on is education. Balancing the “let’s get back to basics” with the “shiny and new” is crucial. I saw this first-hand at NAA’s 2024 Apartmentalize in Philly just a few weeks ago. Sessions about sales basics, communications and marketing strategies, and signature resident experiences, were jam-packed sessions right along with those on artificial intelligence, centralization, and adaptive reuse! The great news is that we don’t have to wait until the next Apartmentalize for practical education. The Austin Apartment Association is cranking out courses and is a resource for every person and every role in our industry.
Our industry is fundamentally one that will remain resilient through this present pressure. Looking ahead, I’m cautiously optimistic. I know that the 2024 election will happen, development will balance, and demand will continue here in our amazing Texas Capitol. In the meantime, take what I have learned over my years of experience – and never stop learning.
Use the resources of the Austin Apartment Association, both in education and the incredible professionals who will have your back in challenging times. Because we know for certain, this industry will remain strong and vibrant beyond the present day, and I know our organization will be here another 60 years from now.
Sincerely,
