Multifamily renters, beware! Don’t be so quick to ask Amazon to deliver your packages to the building’s management office. The strong e-commerce sales are hitting multifamily managers in the wallet. The time it takes for employees to check in and safeguard those packages is adding up!
Camden Property Trust, which has 59,000 multifamily units in 10 states, recently stopped accepting packages in its management offices after adding up $3.3 M in lost productivity on an estimated 1 million packages annually.
- U.S. e-commerce sales are expected to reach $334 billion in 2015, up from $263 billion in 2013, according to Forrester Research.
- U.S. e-commerce sales are expected to increase to $480 billion in 2019.
- AvalonBay Communities, with 83K apartments, has tried installing electronic lockers in some properties to give residents access to packages. Other companies are testing this approach.
Check out The Wall Street Journal for more. Will other multifamily management companies follow suit? Stay tuned!