By: Chase Harrington, Chief Operating Officer
We believe in transparency. We believe in openness. We believe in sharing. Not because it benefits our platform, but because it benefits everyone in the industry.
And that’s why we’re believers in the concept of a multifamily data exchange, which is a big topic of conversation within the National Multifamily Housing Council and its events. In case you haven’t heard, a multifamily data exchange would provide a place where apartment owner/operators could share their actual achieved revenue on every apartment home in the country. The shared information would be curated, and a revenue-per-unit (RPU) figure would be calculated. That would enable each apartment community to compare its RPU with an average of its five closest competitors within a submarket.
How can you be a better closer? By converting the best leads, obviously. The best leads are simply those that are most likely to complete an application for an apartment, right?
This week the Entrata team hosted a webinar to discuss the new partnership between the National Apartment Association’s Click & Lease program and Entrata’s DocumentStorage. The two panelists went into detail about how the partnership works and benefits users. A demo of the new DocumentManagementTM system was presented at the end. DocumentManagement is a more robust document storage option for properties using Entrata’s Property Management Software.
By: Michael Huff, Sr. Software Engineer
Revenue management has historically been separate from marketing in the apartment industry because of its complexity, despite the fact that price is one of the four P’s of marketing. The transformation is underway as more and more revenue management and marketing teams are beginning to merge or work more closely with one another.
Here’s a handful of positive benefits that have influenced the industry from this transformation:
We started from the bottom and now the whole team’s here… almost.
You may have heard, but word on the street is that Entrata is expanding. With almost 200 new positions being created (that’s a lot of new names to remember), we’re keeping it as real as can be and staying ahead, aiming for the summit, and taking on our next great ascent. In the fall of 2016, Entrata is expecting to open the doors of a brand new headquarters.
Your company has a culture. Every company does. It is created by every member of the team, and it impacts every business interaction. Your culture isn’t just a logo; it goes beyond the annual employee picnic. It is, according to Doug Lipp, what people in the organization do every day without having to be told. Lipp, former head of training at Walt Disney University believes that everyone has the power to build a winning culture, a sense of community both for properties and colleagues, and it doesn’t matter what your job description is. “Leadership comes from every chair in the organization,” he says.
In his keynote address to attendees at Entrata’s Base Camp training conference in March, Lipp used anecdotes from his experience at Disney to articulate a series of lessons that can help organizations differentiate themselves from competitors with crystal-clear priorities and continuous improvement. And, since our own values-based culture is one of the things that defines our very existence here at Entrata, we decided to share some of our favorite ideas from his speech with you.
Ever wonder how many commercial emails arrive in the average resident’s inbox each month? Would you guess over 400? If so, you’d be right. Your residents typically receive an average of 416 commercial emails every month…more than 10 a day. It’s a crowded playing field, but since residents overwhelmingly say they prefer their property managers to communicate with them via email, it’s a field on which you must not only play, you need to win!
Companies that are winning, like Windsor Communities and Waterton Residential, have found that a two-pronged approach combining branding/messaging strategies and customizable automation to be highly effective.
By Michael Swan, Senior Product Executive
Risk Management touches every part of your business practices from physical asset management to liability. In our industry, we need risk management to prevent or mitigate significant losses from physical damage, casualties, and regulatory violations. If you’re new to the multifamily industry or have always wondered what the big deal is, consider this post risk management 101.
We want you to win $100 for posting to social media while at Base Camp! Here’s how:
This week Entrata hosted a webinar about how online reviews impact residents during the decision making process. Veronica Romney, Entrata’s Director of Marketing Suite Products, was joined by GetFiveStars.com’s Chief Marketing Officer, Aaron Weiche, to discuss ways property management companies can improve their online reputation. The webinar answered several attendee questions and outlined a variety of tactics for properties looking to improve their overall rating, increase the quantity and quality of reviews, and manage their overall reputation.