Our COO, Chase Harrington, will be a participant in two sessions at the National Apartment Association Education Conference in Atlanta on Thursday, June 22.
Whether you realize it or not, your technology sends a message to your prospects, residents, and even employees, about your business. About a year and a half ago Jason Larson, Chief Strategy Officer at IDM went looking for a technology partner that could grow with his business. After spending a little time with the Entrata team at NMHC OpTech, he knew he’d found the kind of partner that would represent his vision to audiences both inside and outside the company.
Traditionally, multifamily technology systems have been segregated between “front end” and “back office” tasks. This creates a false dilemma as many industry professionals perpetuate the idea that either accounting or marketing functions must be sacrificed when choosing a technology system. Today’s executive needs a 360 degree view of their business which provides actionable data on a variety of processes without losing sight of the guest experience.
Since introducing our Core property management software in 2012, Entrata has worked to continually develop the tools and functionality a diverse client base requires. In our industry, portfolios are not homogenous. One-size-fits-all software solutions only lead to inefficient (and unnecessarily costly) workflows, as users are left to invent patches and design work-arounds just to do their job.
We’ve had great success with Entrata StudentTM, addressing the unique needs of student housing operators, and today Entrata is used more than any other property management software for student properties. But we’re not finished. If your portfolio includes commercial, military, or affordable properties, there are products in the works just for you. Here’s a quick status update:
Commercial Property Management:
Our commercial product is built for office, retail, and mixed-use developments and is currently in a controlled beta period. Designed to be equally effective for both small and large commercial properties, we are hearing encouraging responses from beta participants on the automations Entrata Commercial introduces by simplifying rent charges and fees and making it easier to manage CAM pools. Tools for CAM reconciliation (including Excel export) and a TenantPortal will be available soon. Limited positions for beta testing may still be available, contact your Customer Success Manager if you’d like to participate.
Entrata is working closely with industry partners to build a robust platform for military housing operators and expects to begin beta testing in the next few months. Entrata Military will offer specialised military leasing workflows and reporting (Schedule G, PAM, etc.) as well as MAC workflows and waitlists with waterfall capability. For military customers that often feel the pain of transitioning information through multiple technology products, Entrata’s platform allows all processes to move through a single, efficient workflow.
Entrata Affordable for HUD and Tax Credit properties is on track for initial release and beta testing in just a few weeks. With tools for determining household eligibility, calculating rent, processing certifications, generating HAP requests, processing special claims, and submitting TRACS files, we’re building a system that monitors and reports on all the factors that keep you in compliance with government regulations. Entrata’s all-in-one platform helps simplify complicated workflows with “what’s next” prompts, as well as alerts to staff if a step is missed. HUD waitlist capabilities are also in the works.
Everything Entrata builds is native to our comprehensive platform, which not only saves time and effort for your staff by streamlining workflows, it makes tracking data more efficient and accurate. If you have properties that would be interested in participating in any of the upcoming beta opportunities, please let your CSM know. While we won’t be able to accommodate everyone, we will do our best to work with as many properties as we can. Beta participants will be able to work closely with our product teams to build the industry’s best property management software tools for commercial, military, and affordable properties.
Red Vans at the Googleplex? You betcha! Entrata’s SEO Services team has earned the designation of Google Partner with Premier status, which translates to periodic invitations to Google’s Mountain View HQ and, more importantly, a strategic advantage for Entrata’s SEO and PPC clients. continue
It’s about as close to a universal experience as you can find (although if you’re an only-child you may not relate): hand-me-downs. How many of us, in the name of economy, have found ourselves in the ill-fitting discarded fashion of our older siblings? Sometimes it works, more often than not it doesn’t. No surprise, it was made for someone else.
For years, student housing operators have been dealing with the technology equivalent of hand-me-downs; using systems that were built for conventional properties to try to meet the unique challenges of a student community. With enough work-arounds and manual processes, they could make do. But the solution was about as ideal as wearing your big brothers’ suit to the school dance. Sub-optimal. continue
When you’re trying to get an important message across, how and when you communicate can matter just as much as the message itself. It’s true with friends, colleagues, strangers, and it’s true with your residents. We’ve discovered that you can make your resident communications more effective using technology tools to make sure the messages you send are getting to them how and when they’re most receptive. continue
At the beginning of the year, as tradition demands, we assess, evaluate, and begin to plan ways to improve. One of the topics on many property management lists this year is revenue management – i.e., using data to establish the “perfect rent” with the ultimate goal of maximizing the revenue generated by an asset. While the tools and methods vary, revenue management has moved from a “nice-to-have” theory to a “need-to-have” business practice in our industry.
We’ve been researching revenue management for a number of years as we develop the revenue management piece of our comprehensive property management platform — Entrata Pricing — and would like to share some of the strategies we’ve learned that can help set you up for success. If you’re thinking about adopting new revenue management tools or evaluating your current strategies in the new year, read on! continue
It’s 2017 and we live in a world of digital transactions, any time, every day, for everything. Your renters are more comfortable than ever using technology to interact with their communities. But despite this remarkable progress a few old-school habits remain, adding hours or days to leasing processes, inflating costs, and cluttering up leasing offices with banks of filing cabinets. A prime example is the transaction at the heart of our industry: the lease.
Despite overwhelming evidence that executing leases online saves time and trouble for renters and property managers alike; despite prohibitive costs associated with generating, printing, and storing paper lease documents; despite the environmental impacts; most renters (over 60 percent!) are still signing a paper lease when they rent an apartment. continue
Recent government surveys show that 70 percent of renters are worrying about increases in their monthly utility bills; that’s more than the percent who are concerned about increases in their rent. With utility prices on the rise, renters are feeling the pinch, and it’s stressing them out. Property managers are uniquely positioned to help alleviate some of those worries and renters appreciate those who do. In fact, nearly half of residents who participate in the survey said they would be willing to pay more in rent if they knew they were getting cost savings for utilities.
What exactly can you do to help renters get a better handle on rising utility costs? First, assess how green your communities are. Most renters perceive green communities as better places to live and associate energy-saving and water-saving amenities with reductions in utility bills. But you don’t need to completely retrofit your properties to LEED certification standards to help your residents out. You can take advantage of small steps that translate to big savings for you and your residents. continue
The world is demanding mobile options for all of their technology needs. Entrata has been working around the clock to ensure it provides our multifamily clients and their residents with a comprehensive suite of mobile technology to meet those needs.