Entrata has made it easy for ResidentPay users to offer American Express (AMEX) as a payment option for residents.
The AMEX payment option has been enabled by default upon the May 27 rollout for all Entrata partners that have card payments enabled at their properties. Our agreements for payments are not card or brand-specific, so this new payment option will not require additional forms or signatures. continue
A couple of months ago Entrata found itself facing an unforeseen crisis of seemingly limitless scale and seriousness. Along with the nationwide apartment housing industry and the local tech corridor, we worked as fast as we could to react. We quickly transitioned our entire team to work from home and a strategic task force assembled to monitor constantly-evolving news and advisories, implementing recommended changes quickly and efficiently. Essentially, we put our heads down and got to work.
Like many businesses across the country, Entrata did not have a pandemic playbook on the shelf that we could pull down, dust off, and methodically implement. What we do have, and what has guided our actions and decision-making for years, are a very particular set of values. Entrata’s values provide the framework for how we work with our employees, our clients, our industry, and our community. We have built a culture around these values, trusting that they would help us pull together and succeed no matter the circumstances. And recent weeks have shown that trust was not misplaced. continue
For weeks we’ve been hearing predictions that the COVID-19 pandemic, along with the various national and local responses to it, would have widespread and devastating effects on our communities and the economy at large. I’m happy to report that the trends we’re observing at Entrata tell a story that is more hopeful than anyone predicted.
Data is like oil to multifamily organizations, a valuable resource that takes a fair share of effort to acquire. And like oil, obtaining data is only half the battle, as both are of most value after being properly refined and processed.
While data integrity is essential in any industry, this is especially true in multifamily. Critical investment and pricing decisions rely heavily on the information this data provides. There is no overemphasizing the importance of strong, reliable data to aid better decision-making and improve operations.
Advanced Account Verification is poised to become a multifamily game-changer.
Remember the days of rent check drop boxes? If a cold shiver just went down your spine, you’re not alone.
Automated banking services and online resident portals came to the rescue and helped prevent situations such as lost checks, delayed approvals and strained relationships with prospects and residents. They were, and still remain, the solutions that the apartment industry needed.
The apartment world is only scratching the surface with regard to the possibilities of artificial intelligence. Marketing technologies such as automation are a bit further along in the multifamily spectrum, but there is plenty of room for growth there, as well.
The possibilities become exponentially greater when AI and martech are used in tandem.
To say that the multifamily industry is catching up to the technology curve at an accelerated rate might be an understatement. It is now possible to take leasing tours through VR, conduct self-guided tours, communicate with team members and residents instantly and control apartment features from a smartphone app. Rental payments have also evolved from dropping checks off at a leasing office to electronic payments.
Delivering a Next-Level User Experience that Boosts NOI
What’s intuitive to one might not be intuitive to another. Because every technology user is different, it’s nearly impossible to create a purely intuitive experience for everyone alike.
Until now, that is. Artificial intelligence is poised to make it happen.
The possibilities are nearly infinite when integrating a resident’s smart-home devices with a community’s resident portal. New AI technologies can analyze and adjust to the behavior of the individual and customize their individual experience. This results in happy residents, increased renewal rates and a stronger NOI for the community.
continueWith widespread concern over the COVID-19 (coronavirus) outbreak, Entrata’s focus is on keeping our team members safe while maintaining service without disruptions to our partners and clients. We have watched closely as the situation has evolved, and I’d like to update you on the steps we’re taking.
The one-size-fits-all approach might work with headbands and wooly hats. But in the multifamily industry, there are very few cookie-cutter solutions.
A key component to creating a user-friendly experience, for both prospects and existing residents, is to develop catered solutions based on the type of resident you’re aiming to attract. Yet many multifamily operators go about their student-housing practices in the same manner as their conventional processes.
While the vast differences in student leasing seasons must first be considered, catering to student residents is more than just understanding their unique leasing timelines.
Here are some additional components student-housing operators should consider to cater to the student experience:
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