4 Multifamily Development Trends to Watch in 2019
by Michelle N. on 12/19/2018 4:51:00 PM
Mixed-use development, lifestyle amenities, and the desire for more affordable housing will shape next year's development landscape.
By Dan Doyle
Changing demographics, shifting social values, and evolving development landscapes all continue to drive a surging, nationwide demand for multifamily housing. With empty-nesters looking to downsize, millennials staying single longer, and a general desire for a more convenient and social lifestyle, more and more “renter-by-choice” Americans are forgoing mortgages for lease agreements.
As demand for new housing units continues to drive the multifamily sector in 2019, developers are tasked with finding new ways to satisfy the growing need for apartments.
1. Expanded Project Portfolios to Meet Middle-Market Demand
As resident profiles expand, so too must the communities and units built to attract and accommodate them. The multifamily sector has been heavily weighted at the top end of the market in the past few years, but in 2019 the industry will experience an expansion of scope in order to serve a more diverse resident base, especially the middle market.
At The Beach Co., we’ve focused heavily on catering our product to a discerning and selective resident wanting luxury apartments. While demand for this product is still alive and well, we're looking to develop a more balanced portfolio of communities with a variety of price points.
In 2019, we’ll see a spike in demand for attainable rental options, and in fact, we’re already seeing demand for attainable housing in all our active markets today.
Through increased segmentation, developers are realizing that affordable housing options can't be a one-size-fits-all approach. While some developers in the most competitive markets—where space is at a premium—offer attainable housing in the form of micro-units, this approach is less popular in smaller markets.
Moreover, the tiny-apartment trend will be unable to satisfy the growing middle-market demand. In the Southeast, suburban areas present an opportunity to offer larger floor plans, which is key in targeting middle-market customers. To maintain a competitive edge next year, multifamily developers must adopt targeted solutions that appeal to each potential market, which includes paying more attention to attainable and more affordable housing solutions.
2. Increased Customization
The key to a successful lease-up is to differentiate your product to appeal to the demands of your market’s unique resident base. Developers are achieving new levels of project customization through enhanced research and development practices. Demographic research is a good starting point, but a deeper understanding of a potential site’s history, economy, industry, and culture all contribute to meaningful customization.
For example, knowledge of emerging industry in a region can be the impetus for new development projects. This was the case with The Beach Co.’s Summer Wind project, currently under construction in Dorchester County, S.C., which was conceptualized in response to a number of major international companies, including Volvo, Bosch, Boeing, and Mercedes-Benz, opening facilities in the area.
Conducting thorough market research before embarking on a new project is essential and goes beyond informed marketing efforts to heavily influence property and unit design.
Additionally, with the deluge of customer data now available, developers are better equipped than ever to ascertain the needs and desires of future residents. Conducting thorough market research before embarking on a new project is essential and goes beyond informed marketing efforts to heavily influence property and unit design.
A resident-centric application of customization can be seen in the continued evolution of amenity offerings. While the amenity war in the multifamily sector has been raging for the past few years, 2019 will usher in a wave of technology-focused amenity offerings like smart access-control systems and automated package-pickup services.
3. Shared Amenity Space
In recent years, mixed-use developments have thrived as a result of evolving lifestyle preferences among today’s renters. Whether in an urban-core setting or a suburban town-center design, young and old generations alike are seeking more-active, -social, and -walkable lifestyles with short commutes and proximity to leisure activities.
In response, mixed-use developments offer an artful blend of residential, office, and retail spaces. Consequently, prized amenities formerly only available to multifamily tenants are now available to nonresidents. Proximity and exposure to the greater community has led a growing number of owners to allow nonresidents to purchase memberships to common-area amenities such as fitness centers. This alternative finance stream marks a growing evolution in the multifamily business model and provides for greater utilization of a community’s fixed assets.
Additionally, employees of corporate tenants in mixed-use developments typically have access to the residential amenities as part of their benefits package. This will be the case with The Jasper, which my firm is currently building in historic downtown Charleston, S.C. Slated for completion in 2020, the luxury, 12-story, mixed-use building will include 219 luxury multifamily units, 75,000 square feet of Class A office space, and 25,000 square feet of first-floor retail. The mixed-use amenities feature high-end on-site dining and shopping; a rooftop pool and garden with a sundeck and outdoor kitchen; a commercial-quality fitness center; a clubroom with lounge and demonstration kitchen; and private wine lockers.
4. Urban-Core Workarounds
Today’s renter still wants to live downtown but is being priced out of the urban market. Construction costs remain high, so developers must look to alternative solutions like adaptive reuse of existing buildings to help solve some of the cost issues in the urban core.
In these markets, retrofitting an existing building may be more attractive, as the structure costs are already in place, so multifamily developers can deliver a product just as nice as a new community with a lower cost basis, resulting in a lower rent for the resident. Adaptive-reuse solutions will likely offer a slimmed-down, lifestyle-driven amenity package, which may include services such as refrigerated lockers for home grocery delivery or customer-driven parcel centers catering to online shoppers.
While we’re seeing a push for attainable solutions from urban-core renters, most cities have offered few incentives for developers to build affordable multifamily product in the past. In recent years, we’ve witnessed some cities doing away with or significantly reducing the number of required parking spaces in new developments by incentivizing developers and residents to promote and use alternative modes of transportation, such as ride sharing or public transit.
In 2019, we’ll see more municipalities putting programs in place to assist with affordable housing development, with some creating mandates that require a certain amount of affordable housing. To really make a project attractive to developers and local governments, I predict we’ll see more incentives for developers to make projects affordable in the form of subsidies through tax abatements, tax increment financing districts, or other forms of public–private partnerships.
Today more than ever, it’s important for developers to form partnerships with local municipalities in active markets to better understand the needs of the city and its residents.
Read more at MFE
Buyers Access Holiday Office Hours
by Michelle N. on 12/17/2018 6:15:00 PM
Buyers Access Partners with RMIS to Provide Vendor Onboarding and Monitoring Services
by Michelle N. on 11/28/2018 1:34:00 PM
Denver, CO - 11/28/2018, - Buyers Access (BA) is pleased to announce it has partnered with Registry Monitoring Insurance Services (RMIS®), a leading provider of onboarding and insurance monitoring services, as their exclusive Vendor Compliance provider. Through this partnership, RMIS will provide Buyers Access with the ability to provide robust compliance management services and technologies to all its customers.
“We are thrilled to add RMIS as a supplier partner, and we look forward to our customers benefitting from their expertise in vendor onboarding and monitoring” says Hila Muchow, National Director of Supplier Management, Buyers Access. “RMIS has a long history of providing customized vendor compliance solutions that streamline their clients’ ability to manage new and current vendors.”
RMIS’ programs are custom built to meet the unique operational needs of property management clients of all sizes and locations across the North America. All requirements are incorporated into a client-branded, web-based vendor registration portal that optimizes the process of onboarding and qualifying vendors. Each registered vendor’s Certificate of Insurance, W-9, contract, license and background screening results, and more are monitored and available to the customer.
“RMIS and Buyers Access share a commitment to provide exceptional services to our clients. We are very excited about our inclusion as a Buyers Access supplier partner” says Bill Nordhus, Director of Sales at RMIS.
About Buyers Access
Buyers Access (BA) is the United States’ leading provider of customized purchasing solutions, serving more than 600,000 housing units Nationwide in the multifamily space. For more information, visit www.buyersaccess.com or contact Dan Haefner at 303.991.5577, email@example.com.
Since 1996, RMIS has specialized in Insurance Monitoring and Compliance Services for property, facility management, and other industries. RMIS collects and monitors Certificate of Insurance information, manages compliance rule sets for its clients, and offers customized tools to significantly reduce risk, cut costs, eliminate paperwork, and automate the registration and compliance process. RMIS’ advanced technology coupled with live customer service gives clients peace of mind knowing they can utilize properly insured carriers who meet all their unique requirements. Contact RMIS to learn how a custom vendor compliance solution can improve your business.
Director of Sales
Experiences on Demand: The Next Phase of the Amenities Arms Race
by Michelle N. on 11/26/2018 4:28:00 PM
On-demand apps are shaping the world around us. Our recent partnership with Homee is an example of an on-demand maintenance solution for multifamily property managers, all at the tap of a button. Check out this article below on how multifamily owner–operators continue to race to find the next best method to separate themselves from the pack in a demanding industry.
Increasingly, offering a variety of amenities isn’t enough. Owner–operators must be able to deliver these attractions when and how residents want them.
By Devin Wirt
Amenities have been among the hottest topics in real estate for years, as developers and property managers continue to race to find the newest feature that will help them court a pool of residents that are increasingly seeking both experiences, convenience, and a sense of community.
Today, amenities are in demand not just at luxury residential properties but all manner of apartment venues, office buildings, active-adult communities, hotels, student housing, and across nearly every other type of asset. As amenity spaces have become the new normal, the reality is that many in real estate are discovering that coordinating, managing, and booking the precise mix of amenities needed to attract and retain tenants is both more difficult and costly than expected.
In many cases, expensive and well-crafted amenity spaces are going significantly—or, in some cases, entirely—unutilized. Many operators also find that bringing amenity providers to their properties is far more costly than anticipated. In markets like New York City, a typical fitness class can cost as much as $200 per session. Other associated costs, including insurance, maintenance, and the workforce needed to manage a full menu of amenities, place further strain on an apartment owner’s existing resources.
Whether today’s renters are ordering a pizza, calling a cab, or renting a movie, they expect to be able to order everyday services online or with their mobile phone or tablet. Across the country, the same phenomenon is taking hold with fitness classes, house cleaning, dog walking, and pet sitting. As this massive shift continues to advance, property owners and managers will need to keep pace by offering their residents a platform that places a full suite of amenities just a click away.
Technology Answers the Call
Fortunately, real estate is seeing a massive influx of technology solutions to address this societal shift. Platforms such as Hello Alfred have already begun to merge traditional butler services with the so-called “on-demand economy.” As more and more properties begin to incorporate amenities, the demand for a single, one-stop platform that can help customize, coordinate, and consolidate a full menu of services will only continue to rise.
Perhaps understandably, much of the conversation regarding multifamily amenities has focused on the latest and greatest features across the industry. What began with simple on-site swimming pools and gyms has quickly evolved into fitness venues, yoga studios, voice-activated technology, dog spas, and golf simulators.
But just as property owners and managers have been forced to reckon with renters’ desire for a sense of experience and community, they must also be ready to offer the level of convenience and on-demand access consumers increasingly crave.
As owner–operators continue to race to find the next method to separate themselves from the pack, they’d be wise to not just consider what amenities they’re offering, but how to deliver them to tenants in the customizable, on-demand fashion residents increasingly are demanding.
Debunking Common Buyers Access Myths
by Michelle N. on 11/15/2018 6:12:00 PM
There are some common myths and misconceptions regarding the Buyers Access Procurement Optimization Program. So, we’re here to debunk these myths, check it out below!
Myth: I am going to lose my discount if I partner with Buyers Access.
Fact: The myth is Buyers Access forces a client to give up existing supplier discounts or existing contracts. This is totally false. In fact, Buyers Access encourages our members to keep their discounts and contracts in place! Our approach to procurement is much different than our competitors. We guide our customers to increased savings and efficiency through training and reinforcing best practices of purchasing the right products, at the right time, for the right price. Our Member Services, Account Management and Data Analytics teams make sure these practices are followed all the way to each site level staff associate. Keep your discounts and keep your contracts! Since we are supplier-neutral, utilizing the Buyers Access platform does not equate to suppliers charging you more per line item. We ensure that you are always getting the best price for the goods and services you use every day.
Myth: I will not be able to use my same suppliers if I partner with Buyers Access.
Fact: Buyers Access works with all the major multifamily suppliers—we are not tied to one specific supplier. Our philosophy is we take care of our customer, so it’s our mission to ensure you get the best products at the best price, period. We will analyze your spending habits across your entire portfolio and present you with an analytical view of what you purchase and for how much and compare those results to our baseline data to provide procurement recommendations that will add to your bottom line—all the way down to the individual asset level.
Myth: I will lose my relationship with my sales rep with the suppliers that I currently use.
Fact: The relationship you have already established with your supplier sales representative remains the same, we don’t change or interfere with that relationship. In fact, being a Buyers Access Member enhances that relationship. With our direct access to the major multifamily suppliers, you can be assured of transparency and vendor-to-vendor cooperation that results in a more cohesive supplier-customer experience. We are supplier-neutral—which means our clients benefit from a wide variety of suppliers in our network.
Myth: Not sure I can purchase everything through Buyers Access.
Fact: You can purchase from any supplier, any time, and we’ll provide the analytical tools you need to make the most effective purchasing decisions.
Myth: I have to use the Buyers Access e-Commerce system.
Fact: Buyers Access does not require our application to be used by any of our members, but it’s there if they need it. Unlike some competitors, we assist you in tailoring your purchasing methods to meet the needs of you and your team. Our Members receive all the benefits of Buyers Access regardless of the ordering method they choose. Our Member Services and Account Management teams work with your site teams to assist in locating orders with suppliers, suggesting alternative item selections, and consolidating orders. Together, we partner for your overall procurement success.
Myth: Buyers Access has a warehouse.
Fact: Buyers Access does not stock any products—rather, we are your go-to source for procurement optimization. We help make the purchasing process more streamlined a disciplined by teaching each site team best practices for buying the items needed at an apartment community. Through our extensive data analytics, we help the teams understand what has been historically bought, at what price, and which items can be consolidated or alternative items selected that result in an overall cost savings to the community. By taking a holistic approach to purchasing, we ensure that our performance guarantee is met—month after month, year after year.
Myth: I can request ad hoc product pricing and buy from Buyers Access even though I am not member.
Fact: Buyers Access does not stock products—nor do we typically do ad hoc pricing requests for prospective clients. We feel the true relationship exists when we become an extension of your operations or procurement team. Our Member Services team directly supports your corporate back office as well as each of your remote site offices. Our Members have a full array of bid and bulk quote services available to them—and our supplier partners will only provide Buyers Access special pricing to current Members, so quotes for non-Members are not available.
Learn More—Become a Buyers Access Member—Why Wait??
Contact us today and find out first-hand why 600,000 apartment units (and growing) have adopted the Buyers Access Procurement Optimization Platform.
Buyers Access and Matrix Residential Announce Partnership To Promote Spend Optimization
by Michelle N. on 11/2/2018 2:42:00 PM
(Denver, 11/1/2018) – Buyers Access (BA) and Matrix Residential announced today that they have entered into a consulting agreement for Buyers Access to provide purchasing optimization consulting services.
Under this new agreement, Buyers Access will team up with Matrix to identify product standardization, spend consolidation and work flow process improvement opportunities. The new partnership will drive additional cost and time savings to Matrix Residential, which has nearly 26,000 units under management across eight states.
“We are constantly exploring new opportunities to enhance the experience for the people who live with us, work with us and invest with us,” said Tracy Bowers, managing director at Matrix Residential. “At Matrix, everything matters, and that includes providing a seamless and efficient purchasing process at our properties. We look forward to launching this purchasing optimization service in partnership with Buyers Access.”
Buyers Access is also excited to announce an additional service offering now available, which was developed in conjunction with Matrix as part of this opportunity. Within this new hybrid format, larger owners and operators will now have the ability to place an Account Manager in-house at a physical location of choice, effectively adding additional staff at no extra cost. Internal resources can now have greater direct access to the Buyers Access personnel, processes and services.
About Buyers Access
As the nation's leading Purchasing and Cost Control specialist for the multifamily housing industry, Buyers Access provides real estate owners and operators with full service purchasing solutions to help maximize the value of their real estate assets. Since 1986, Buyers Access has helped thousands of properties and hundreds of companies to reduce operating costs and drive improved cash flow, while leveraging substantial personnel time savings. For more information, visit http://www.buyersaccess.com or call 1.800.445.9169
About Matrix Residential
Founded in 2010, Matrix Residential is the wholly-owned property management subsidiary of Pollack Shores Real Estate Group. The Atlanta-based company manages an award-winning portfolio of nearly 26,000 multifamily units across eight states, and is dedicated to creating exceptional experiences for its residents, investors and employees. Together, Pollack Shores and Matrix Residential are rooted in their mission of maximizing the value and living experience for every community. For more information about Pollack Shores, visit pollackshores.com/. For more information about Matrix Residential, please visit www.matrixresidential.com/.
Homee Partners with Buyers Access to Provide Members On-Demand Property Maintenance
by Michelle N. on 10/31/2018 2:30:00 PM
Buyers Access members now have immediate access to Homee’s network of service professionals
TAMPA, Fla. (October 31, 2018) – Homee, an on-demand property maintenance platform announced today a partnership with Buyers Access (BA), of Denver Colorado. Homee provides homeowners, renters and property managers with immediate and real-time access to pre-qualified service providers via a simple-to-use app. BA is the leading provider of purchasing optimization services and customized purchasing solutions to the multi-family industry in the United States, serving more than 600,000 housing units nationwide. This partnership will allow BA’s existing customers access to Homee’s background-checked service professionals at the tap of a button, and an easy-to-manage workflow approval process.
“We are excited to partner with Buyers Access and look forward to offering its members on-demand access to licensed contractors,” said Homee co-founder and CEO, Doug Schaedler. “Homee is the perfect solution for multi-family property managers because it streamlines the process of managing multiple maintenance tasks across in-house and outside service techs, giving property managers resource optionality to more effectively manage and control workflow.”
“We foresee our customers being able to use Homee on different levels, whether it be for standard repairs and special projects, or as a supplemental tool for peak turnover times and make-ready management” says Hila Muchow, BA National Director of Supplier Management. “We are excited to be able to bring our customers an effective on-demand maintenance solution through this new relationship.”
Using GPS-enabled smartphone technology, Homee service providers accept new requests for repairs, improvements, or maintenance. Every service provider is background-checked and screened by Homee’s operations team and is continually monitored by the app’s provider rating system to ensure ongoing quality service.
Based in Tampa, FL, Homee is an on-demand property maintenance service that provides customers with instant access to electricians, plumbers, HVAC technicians, and handymen from the convenience of their smart phones. The Homee app allows users to find GPS-located service providers and request immediate service. For more information or to install the Homee app, search for Homee On Demand in the app stores or visit http://www.homeeondemand.com.
About Buyers Access:
Buyers Access (BA) is the country’s leading provider of customized purchasing solutions, serving more than 600,000 member units in the multifamily space. For more information, visit www.buyersaccess.com or contact Dan Haefner at 303-991-5577, firstname.lastname@example.org
Things You May Not Be Doing to Optimize Your Budget in a Purchase
by Michelle N. on 10/29/2018 1:10:00 PM
There are several things to consider when purchasing products and services for your property. It is a fine balance to ensure that these purchases achieve a positive investment and do not generate losses for the organization.
However, sometimes we may not know what product or service is best for our properties or how to manage the budget as it pertains to those purchases. This uncertainty can be sure to cause headaches and present errors. In this blog, we tell you 4 things you may not be doing to optimize your budget in a purchase.
Think About Quality Not Price
While it is true that you get what you pay for when it comes to certain products, we need to be cognizant of the fact that not all higher priced items equate to quality product. Let’s not ignore the fact that expensive product can also be poorly made. Making a mistake in purchasing higher priced items assuming higher quality can present inconveniences that will cause more budget to be invested in repair or replacement.
At Buyers Access, we help our clients make informative purchasing decisions that lead to increased savings and efficiencies. Our Member Services and Account Management teams do all the leg work to make sure properties are purchasing the right product for the right price, all the time. We help our clients find the balance between price and quality ensuring the best investment is made for their property.
Buying with Balance and without Rushing
Purchases for multifamily properties can sometimes be extremely urgent, which means we can resort to making fast, on the fly purchases without thinking thoroughly about the right product at the right price point. Ordering too many of one item or not the right items, increases the workload when it comes to receiving orders as well as paying for those additional invoices which makes the process of ordering product not only inefficient but costly as well.
Making purchases with haste can be a risk that can give the company financial or economic imbalance for short or long term. At Buyers Access, we help multifamily owners and operators control and optimize money spent on products and services. We our help clients gain greater insight and visibility to all their purchasing transactions, budget availability and their approvals resulting in saving money and controlling costs.
Buying What You Need
It is important to know exactly what you need before making a purchase. Acquiring extra supplies will probably be a mistake you regret. The idea of having a little extra of this or that, is not always applicable in every process. Buying excessive and unnecessary amounts can be a waste of time and possibly risk product that cannot be refunded or returned, resulting in loss.
At Buyers Access, we guide our customers to increased savings and efficiencies through visibility of data, training and communication, reinforcement of best practices, and providing supplemental personnel resources. Our Member Services, Account Management and Client Success teams become part of your team to ensure your best practices are followed throughout your entire organization.
Research and Investigate the Products to Purchase
It is wise to do a little research on the product or service you want to acquire. Being well informed about which suppliers provide the best service, price, and quality will help you have a clearer picture of what product best suits your budget.
Although, it might be daunting to make the right purchases, at the right price, all the time for your property, working with the right purchasing partner can help make this process less of a headache while effectively managing your budget.
Buyers Access provides insightful data analytics and reporting solutions that allow customers to monitor spend habits and saving opportunities. Our team of industry experts can identify trends and anomalies in large sets of data. Further, we have the flexibility to set client specific benchmarks to ensure your purchasing specifications support your overall business objectives.
Learn more about how Buyers Access can help your property today!
Vimenture, LLC Announces Strategic Partnership with Buyers Access
by Michelle N. on 10/26/2018 1:11:00 PM
Vimenture, LLC Announces Strategic Partnership with Buyers Access – Multifamily’ s Industry Leading Purchasing Optimization Group
Denver, CO – (October 26, 2018) – Vimenture, LLC, an IT company specializing in telecommunications and community IT support, is pleased to announce a strategic partnership with Buyers Access (BA) of Denver Colorado. BA is the leading provider of purchasing optimization services and customized purchasing solutions to the multifamily industry in the United States, serving more than 600,000 housing units nationwide.
“We are excited to add Vimenture to our diverse group of technology partners, and to supplement our services with the industry’s leading IT Managed Service Provider,” says Dan Haefner, CEO and President of Buyers Access. “Vimenture’s approach to telecom expense management, invoice auditing and white glove support is unique in our industry. Vimenture’s team gives our owners and operators a free resource to work through billing errors, internet outages, or phone system malfunctions that they may not have known was available.”
As part of this partnership, BA will deliver targeted marketing programs centered around Vimenture’s Telecom Expense Management Program, which audits all the telecom, internet and cable TV expenditure within an apartment portfolio.
Vimenture CEO Mark Sharp said, “At Vimenture, we work with many portfolios, large and small. Most initial deployments focus on reducing monthly costs by optimizing multiple aspects of the telecom services. After the initial deployment and cost reductions, our clients appreciate our intense focus on service, and how our care and repair teams respond to outages and other emergencies. Our customers leverage our expertise to augment their internal IT teams to get results faster.”
About Buyers Access: Buyers Access (BA) is the United States’ leading provider of customized purchasing solutions, serving more than 600,000 housing units in the multifamily space. For more information, visit www.buyersaccess.com or contact Dan Haefner at 303-991-5577, email@example.com.
About Vimenture: Vimenture, LLC is a Denver based IT company that was founded in 2003. In the past 15 years, the company has formed itself into one of the leading managed service providers serving the multifamily industry with core competencies in Telecom Expense Management, Mobility Management, Wireless Networks and Data Infrastructure. Our business approach is simple; we value white-glove customer service and pride ourselves on our dedication to the customer experience. In a world of automated self-service, we are a fresh contrast with innovative thinking and an old school work ethic.
For more information, visit www.vimenture.com
For more information, please contact:
Marsha Sabandal, VP Marketing
Wilmar's Fire Safety Tips for Your Multifamily Property
by Michelle N. on 10/24/2018 7:14:00 PM
Multifamily properties pose a large fire safety risk due to the number of residents living under one roof. Wilmar has the supplies and information you need to help maintain a safe environment.
When a fire breaks out at a property, those inside have mere moments to act. It takes fewer than 30 seconds for even the smallest flame to grow into a life-threatening fire1. Used properly by a trained individual, fire extinguishers can prevent fires from growing out of control. They should be positioned on each floor of a property in a location that requires a user to travel no more than 40 feet to reach it, including outdoors2. Ensure fire extinguishers are stored in fire suppression cabinets to protect your extinguishers from theft or damage, and to discourage children from playing with them.
Early detection can save lives. Understanding the function of detectors and proper placement of each is critical to effective fire safety. Smoke detectors sound when the sensor detects the presence of smoke particles in the air. Every room of every floor in a residence should have a smoke detector installed. Smoke detectors come in three forms: Ionization, photoelectric and dual-sensor. Combination detectors are also great because they have sensing technologies that work together to detect smoke and carbon monoxide, offering protection from two deadly threats in one unit. Install these time- and money-saving devices on every floor and near sleeping areas in a property.
Though some detectors are equipped with 10-year lithium ion batteries that do not need replacement, many others require 9V, AA or AAA batteries. Hardwire models often have backup batteries as well. Smoke and CO detectors should be tested once per month, and their batteries should be replaced at least once per year. Smoke and CO detectors should be replaced every 8 to 10 years3.
In the unfortunate event of a fire that can't be contained, it's crucial to have a well-designed, well-rehearsed evacuation plan. The NFPA has templates and tools to help you create an escape plan. Secure escape ladders for multi-story buildings and outfit multifamily dwellings with ample emergency exit lighting and signage.
To learn more about Wilmar products to keep your communities safe, click here: https://www.wilmar.com/info/multifamily-fire-safety
1 Department of Homeland Security, Home Fires, Learn About Fire. www.ready.gov/home-fires
2 OSHA, Extinguisher Basics. www.osha.gov/SLTC/etools/evacuation/portable_about.html
3 Department of Homeland Security, Home Fires, Before a Fire, Smoke Alarms. www.ready.gov/home-fires