Connecting the Dots: 2024 in Review

Webster’s dictionary deemed “polarization” the word of the year, but we chose a different one: connection. Your utilities? We want them connected. Your managed utility tech and you? We’re connected. It’s a word that resonates so deeply with us that we named our annual user conferences for both multifamily and single family clients Conservice Connect.

As we approach the end of 2024, let us connect one more thing for you: a reflection on the highlights, trends, and insights we shared on the Conservice blog this year. Wrapped up in a neat little bow, here’s a look at the year’s most compelling stories, categorized by the verticals we proudly serve.

Multifamily: bulk internet solutions and stagnant growth

It has been a year of change for multifamily housing – from evolving market demands to shifting resident expectations, we covered it all on our blog. Check out the highlights.

• Bulk internet solutions
  • The residents have spoken. They want bulk internet installed in their homes before move-in day. Navigate the evolution of multifamily connectivity with Expert Mike Doucette in this blog.
  • Ready to deliver internet services while boosting both resident satisfaction and NOI? Understand all there is to know about bulk internet.
• Solutions for economic slumps
  • Flat rents? Not a problem. Clap back against flat rents to stay competitive and maximize value in the current market. 
  • With more remote working opportunities than ever before, office buildings are sitting empty. Consider office-to-multifamily conversions with this list of pros and cons. 
  • Small multifamily properties are punching above their weight. Learn more about the outsized influence of small multifamily properties.
  • Rent caps don’t just hurt you; they end up hurting the resident. Don’t worry – there are ways to thrive under rent caps.

Single family: build-to-rent and Expert advice

The single family sector continues to grow—right alongside the unique challenges it faces. This year, we focused on build-to-rent (BTR) properties and advice from our very own single family Expert.

• BTR: BTR properties are a great way to expand your portfolio, but managing their utilities can be a headache. Learn how using a centralized utility management system and owner-held agreements can streamline operations and reduce disruptions. 
• Zach Beck’s Expert Advice: By focusing on one thing and doing it super duper well, Zach has mastered the single family utility landscape.

Student housing: fairer utilities on and off campus

The next wave of students has moved into student housing communities, and they are demanding fairer utility metering and more rental options. Don’t miss our take on how to tackle these challenges below.

• Better metering systems
  • Implementing submetering in student housing allows you to bill residents based on actual utility consumption, promoting fairness, conservation, and operational efficiency. 
  • Submetering not an option? Consider utilizing a Ratio Utility Billing System (RUBS). You can equitably allocate utility costs among residents without installing submeters, reducing operating expenses and promoting conservation.
• The shift to off-campus housing
  • Take the students off-campus and give them more rental options. Investing in off-campus student housing may be your next move.
  • Investing in off-campus student housing is increasingly attractive due to declining on-campus availability, rising student demand, and the resilience of such properties during market downturns.

Manufactured housing: affordable trends

The manufactured housing industry is growing rapidly, driven by affordability, sustainability, and smart technology integration, making it a key solution to housing shortages and a resilient investment opportunity. Here is our take on the latest manufacturing trends.

• Reshape manufactured housing: Manufactured housing is transforming with eco-friendly designs, smart technology, and affordability, addressing modern housing demands and attracting new residents. 
• Affordable housing: Check out the top 10 trends in affordable housing.

Commercial housing: winning a big game with a trusted partner

We are more committed than ever to saving our commercial clients time, money, and energy. We focused on the big wins and our less visible services.

• Win big: Effective utility management requires navigating complex regulations, adopting advanced tech, and implementing efficient strategies. In short, it can be a lot. Win the big game against utilities with us on your side. 
• Trusted partnerships: You don’t see our best work. And you shouldn’t. We are here to help you, not take the credit. Learn more about the invisible services we offer for commercial properties. 

Smarter, greener housing with Conservice

Some trends transcend verticals and apply across the board. Throughout the year, we emphasized that AI and sustainability are essential pillars for the future of housing. Explore a few of our blogs to learn more.

• The future is artificial
  • Artificial intelligence is revolutionizing the world, including utility management. By enhancing grid efficiency, meeting rising electricity demands, and supporting the integration of renewable energy sources, AI is here to stay. 
  • Does AI sound too good to be true? There are a few drawbacks. Read about the increasing demand for power. 
• Sustainability is the answer and an investment
  • Whether you make small changes (like changing to LED bulbs) or empirical retrofits, steps toward a greener future are steps in the right direction.
  • See how you can solve your climate risk puzzle to your portfolio through this series we tackled over the summer. In just four short blogs, you’ll learn how to quantify your footprint, assess and mitigate your risks, and document your story. 
  • Investing in ESG can be a hard pill to swallow. It’s a large chunk of change and it’s difficult to see the ROI. What if we told you that you’ll see that investment back AND more? See how our partners at Stoneweg US did just that. 
  • Building a sustainable future is not a quick task. Thomas Stanchak’s “cathedral vision” for ESG may change how you view your role in sustainability.
  • Making strides toward a greener future? Get certified to show off your hard work! Whether you qualify for ENERGY STAR NextGen Certifications or you want to level up your GRESB score, our ESG team can help you. 

Let’s stay connected in 2025

At Conservice, 2024 was a year defined by connections. We look forward to deepening these connections in 2025 as we celebrate milestones, drive innovation, and continue to deliver the latest utility news through the Conservice blog!