Car dealerships no longer rely on full-page newspaper ads. Department stores are using snail-mail campaigns less and less. Name the industry, and odds are that the way they attract customers has significantly changed in the digital age.
The apartment industry is certainly no different, as renter preferences seem to evolve on a monthly basis. That puts the onus on marketing teams to continue to refine approaches to attract and remain relevant to prospective renters. continue
The only thing more constant than evolution of technology is change. Many companies are slow to embrace change, refuse to modify at all or are simply bad at changing.
But the way a company manages change – whether it’s the implementation of new technology, the addition of new leadership or employee turnover – can impact the success of the business.
In the apartment industry, change is rampant with regard to technology. Smart-home features, centralized lead-management systems and even artificial intelligence are beginning to weave their way into the everyday fabric of the industry. But there’s definitely a learning curve, and there are some best practices to make sure the change is a smooth one. continue
If there is one constant in the apartment world, it’s that renter preferences and expectations continually evolve. But it has never happened at such an accelerated pace as in the current climate.
Those preferences and expectations seem to shift as quickly as technological advancements, which is fitting considering many of those renter cravings and demands center around tech. That includes the way prospects search for homes and the features they expect within them.
Tech giants such as Amazon and Google are reshaping the apartment living experience with various smart-home features. Some are exceedingly practical (such as Alexa and smart thermostats), others are essentially bonus items that cater to certain preferences (think smart egg trays and smart hairbrushes). continue
The first time James Lawrence set a record, he says, it was an accident. In 2011 he completed more half-Ironman-distance triathlons in a single year than anyone ever had before. Then in 2012, he set the record for full-distance Ironman races. You’d think he would be satisfied with these very impressive accomplishments. But rather than resting on his well-deserved laurels, Lawrence set out to accomplish his most audacious goal ever. continue
It’s inevitable. Whether the community you manage is affordable or Class A-plus to the max, residents are never going to be eternally happy. No matter how dreamy your amenities or robust your service levels, the occasional difficult conversation is unavoidable.
Sometimes the resident is upset about a renewal increase or the racket caused by an onsite renovation. Sometimes their discontent stems from their co-residents. Other times, they’re mad just for the sake of being mad. While peacemaker isn’t among the primary duties listed in a leasing associate’s job description, the ability to diffuse tension is an underrated quality in the apartment world. continue
Avoiding disastrous mistakes is a primary objective for any onsite team. But there is a more-subtle concept that can help keep residents in the building: consistency.
Companies across all industries generally think that a catastrophic failure is the No. 1 way to lose customers. In actuality, a series of small customer-service failures has more power when it comes to alienating them.
That’s according to Luke Williams, who shared a bevy of customer-service myths at the 2018 Entrata Summit. Here, we’ll examine the catastrophic failure myth and how it pertains to the apartment industry. continue
Entrata’s Message Center lets properties communicate easily and efficiently with residents and prospects through branded and scheduled messaging. And now, with Message Center’s new template libraries with user permissions, we’re offering even better control to help promote brand consistency and empower site-level teams to communicate more effectively.
Communication is vital, and Message Center is a powerful tool. What can you do with Message Center templates? continue
Sometimes the leasing process is smooth and uninterrupted. And every now and then, the drive through rush-hour traffic is surprisingly smooth, a political conversation is cordial and well mannered and a root canal goes pleasantly well.
But most of the time, the leasing process takes a few unexpected turns and seldom follows a blueprint. You’re dealing with people, after all, each with their own leasing ambitions, timelines and varying bits of spontaneity.
Thankfully, technology provides ways to simplify the leasing process and avoid many of the common pitfalls that befall leasing associates. Automated communications can make life much easier. continue
The days of love-at-first-sight apartment conversions are dwindling, particularly in the digital space.
With various options in a hyper-competitive market, prospective renters have become more selective than ever when deciding on a home. In fact, the average renter peruses at least five lead sources when searching for their next home.
Those lead-source sites can vary from a community website, Internet Listing Service, social media, review sites and several others. Essentially, the renter is on a journey when selecting a home.
Marketing teams that track that unique journey can glean a competitive advantage by utilizing the data to attract more prospects. The problem is, many teams credit a conversion to the first or last site visited by the prospect. When a prospect visits several lead sources, the first or last touch point is only part of the story.
That’s why multi-source attribution platforms are becoming more relevant in today’s multifamily landscape. Many consider it a necessity. This platform takes into account every lead source visited by a prospect and assigns credit on a weighted basis. The benefits of multi-source attribution include: continue
With ever-evolving technology trends, increased focus on corporate social responsibility and newfound urgency to retain high-performing associates, the landscape in the apartment industry is shifting.
A panel of executives shared their thoughts on these subjects and more relevant topics at the 2018 Entrata Summit in Park City, Utah. Here is a look at some of the primary takeaways from the discussion, which was moderated by Entrata president and chief operating officer Chase Harrington. continue