Entrata Blog

Financial pressures, shifting priorities, and digital engagement facing today’s renter

You can control operating expenses and even unlock new revenue streams without resorting to desperate measures that harm your resident experience.

It’s easy to focus on filling vacant units, but what about the residents who already call your community home?

Entrata's "Resident Experts" webinar recently gathered two of the multifamily industry's most influential leaders for a discussion on critical trends.

In a recent installment of Entrata's Resident Experts webinar series, Virginia Love, Industry Principal at Entrata, welcomed Jennifer Cassidy, President of Property Operations and Experience at Cardinal Management Group. Cassidy, a seasoned leader with over two decades in the student housing industry, is renowned for her focus on driving revenue, maximizing expense efficiencies, and building long-term asset value.

Investing in property management software is a high-stakes game. You're looking for solutions that boost efficiency, cut costs, and ultimately drive revenue – all while keeping your residents and prospects happy. But what happens when the very technology you hoped would streamline operations ends up creating friction and frustration for the people you serve?

For most residents, rent represents their most significant monthly expense. In a competitive rental market, simply providing an apartment isn't enough. Residents are increasingly seeking communities that offer tangible value beyond the four walls of their unit – services that simplify their lives, save them money, or even help them build their future.

While clear communication lays the groundwork for a positive resident relationship, the true test often comes when things go wrong. For multifamily businesses, the efficiency and effectiveness of handling maintenance and repairs can be a major deciding factor in whether a resident chooses to renew their lease.

In today's digital age, residents expect a seamless and convenient experience when engaging with property management. They want an experience that mirrors the ease of interacting with online giants like Amazon. For multifamily businesses, meeting these expectations hinges on embracing technology that fosters strong resident relationships from move in to move out.

In a recent Resident Experts webinar, Laurel Zacher, a seasoned marketing and CX strategist in the multifamily industry, shared profound insights into effective multifamily marketing. The conversation, guided by Entrata’s Virginia Love, centered on a powerful shift in perspective: moving away from traditional sales-focused approaches and embracing a philosophy of genuine helpfulness.

The landscape of multifamily property management is rapidly evolving due to increasing energy efficiency standards. Staying ahead of these changes is crucial for maintaining profitability and resident satisfaction.

Entrata recently hosted a webinar about the power of resident rewards programs and how they can be strategically leveraged to boost resident retention in multifamily properties. Our expert, Britton Pedersen, a seasoned loyalty professional, shared invaluable insights on maximizing the untapped potential of these programs. Here are the key takeaways: