Multifamily housing is one of the biggest industries that no one has every heard of! This under-the-radar industry (with its always in-your face assets) is about apartment communities – a thriving industry of residential buildings that provide housing to millions of people across the country. In fact, according to the National Multifamily Housing Council, there are over 43 million renter households in the United States. That’s one-third of all households! With such a vast market share, multifamily housing can be a complex and highly competitive industry. And as a result of the demand for housing, staffing these properties can be a challenge. That’s where TalentWoo comes in.
So, what exactly is multifamily housing? It’s an industry made up of property management companies, real estate investment trusts (REITs), private equity firms and apartment communities. These companies acquire, develop, and manage rental properties, including apartments, townhomes, and condominiums. In addition to maintaining the physical properties, they also manage the rental process, from marketing and leasing to rent collection and tenant retention.
There titans of the multifamily housing industry include large property management companies like Greystar, AvalonBay Communities, and Equity Residential, as well as REITs like Essex Property Trust and UDR, Inc. These heavy-weights own and manage thousands of properties across the country, making them some of the largest employers in the National Multifamily Housing Council (NMHC: https://www.nmhc.org). But there are also many smaller property management companies that specialize in managing properties in specific regions or submarkets.
One of the biggest challenges that property management companies face is the ongoing need to staff their properties. Property managers, leasing agents, maintenance technicians, and other staff members are critical to the success of a multifamily property. But finding and hiring qualified candidates can be difficult, time-consuming, and expensive. Additionally, many property management companies struggle to retain their employees, leading to high turnover rates and increased costs associated with recruiting and training new staff members.
That’s where TalentWoo comes in. TalentWoo is a talent acquisition company that specializes in recruiting for the multifamily housing industry. We offer a range of services, including direct-hire staffing, temporary staffing, and recruitment process outsourcing (RPO). TalentWoo’s subject matter experts have years of experience working in the multifamily housing industry, giving us a deep understanding of the unique challenges and needs of property management companies.
By outsourcing some or all of their talent acquisition function to TalentWoo, apartment communities, large property management companies, and multifamily REITs can reduce the time, effort, and cost associated with finding and hiring qualified staff members. TalentWoo’s services can augment internal recruiting teams that are stretched thin during a season of growth or can act as the complete team if operations leaders are not interested in building out an expensive or time-consuming internal recruitment team. By partnering with TalentWoo, property management companies can focus on their core operations and strategically reduce fixed operating costs from the books for better looking returns.
Multifamily housing is a complex and highly competitive industry that relies on qualified staff members to manage properties and provide excellent customer service to tenants. During times of high turnover or during a tight labor market, finding and hiring qualified candidates can be difficult and time-consuming. That’s why firms turn to TalentWoo; we provide talent acquisition services that are tailored to the recruiting needs of the multifamily housing industry. Whether you’re a small property management company or a large REIT, TalentWoo can help you find and hire the best candidates for your properties, so you can focus on managing and growing your operations.
If you’re interested in how TalentWoo can help your property management company hire real estate professionals to keep operations going, visit our website at www.talentwoo.com.