Deconstructing consumer behavior really comes down to one thing – perception of value.
Unfortunately, that one thing is more complicated than it sounds. There are an endless number of perceptions from a seemingly endless variety of prospective renters and residents. That’s why apartment owner/operators who navigate the consumer behavior maze most effectively and efficiently win residents at higher rents and for longer lease terms than their competitors. continue
Most millennials can hardly remember a time when they didn’t have the power of a supercomputer in the palms of their hands. Some members of Generation Z might not even know what a payphone looks like.
What members of these generations do know and remember is that technology, learning and culture make life greater. If they can get those things at work, that’s even better. Today, a growing number of employers are beginning to use technology, learning and culture as employment perks that help them hire and retain the best from these generations, according to the panelists on the How Entrata Can Help You Hire and Retain Employees session at the 2017 Entrata Summit in Park City, Utah.
Entrata has once again partnered with Shelters to Shutters to help raise money to relieve homelessness in our communities. At last year’s Summit, attendees heard firsthand the heartfelt story of Odessa Moore, a participant in Shelters to Shutters’ program to transition individuals from homelessness to economic self sufficiency. There was not a dry eye in the room as she told of the hope, confidence and stability the program provided to her and her family. continue
Creating ancillary income can be a slippery slope. You can produce extra revenue by assessing fees to your residents, but you have to walk a fine line to avoid alienating them with fees they might interpret as frivolous.
Residents understand that they’ll probably have to pay pet rent, a fee for extra storage or a little extra for a covered parking spot. But, they don’t want to feel nickel and dimed with extraneous fees they believe should be part of the rent. continue
For most common apartment search terms, like Los Angeles apartments or apartments in New York, the first page of Google is pretty much taken. Internet listing services own those pages, spending whatever resources it takes to maintain the top positions. That’s not to mention the sheer number of Los Angeles or New York apartments they have listed on their sites that give them an advantage with Google.
But that doesn’t mean an owner/operator can’t compete without spending thousands of dollars a month on numerous upgraded ILS listings. With a hyper-local perspective, a broader strategic view of online marketing and a comprehensive content marketing strategy, property managers can produce even stronger conversion ratios, according to a panel discussion today at the Summit.
Apartment operators are constantly devising and revising ways to ensure the personal data of their residents is secure. But what about when the residents themselves commit fraud to live at your community?
A growing number of prospective renters are utilizing fake or stolen social security numbers and fake pay stubs to meet an apartment community’s qualifying standards. And if they’re able to succeed and become residents, predictable problems – and worse – can arise.
Entrata’s fifth annual user Summit brought together more than 350 multifamily professionals at the Stein Eriksen Lodge in Park City, Utah. The event kicked off today with keynotes from CEO Dave Bateman and President Chase Harrington. They shared highlights of Entrata’s growth over the past year and plans for future development to a sold out audience.
Leasing offices across the multifamily industry have traditionally focused their lead management strategies on an agent-centric approach. And for good reason. An agent-centric strategy allows properties to manage their leasing teams easily. It focuses on agent effort and easily measured benchmarks and allows the property to provide a consistent leasing experience for potential renters.
But, in an Entrata Summit session in Park City, industry panelists laid out some pretty compelling arguments why an agent-centric lead management approach may be past its prime. In fact, it can be a breeding ground for inefficiencies. With studies showing that as many as 88 percent of outbound calls and 80 percent of outbound emails are going to leads that don’t convert, the time is ripe for a new, prospect-centered, approach to lead management.
When Cottonwood Residential and Monument Real Estate Services set out on a search for a new technology provider, both companies agreed that finding the right partner was just as important as finding the right software to meet their business objectives.
“We were extremely frustrated with our previous provider’s unwillingness to integrate with third party providers and their extreme lack of customer service,” said Greg Lozinak, CEO, Monument Real Estate Services, a 12,000 unit owned and fee managed operator. “Entrata showed that they were going to be a key strategic partner motivated to provide us with the technologies and integrations we needed to be successful.”
An ancient philosopher once said something mysterious and wise about the impossibility of stepping into the same river twice. We’d like to add, along those lines, that no one can ever climb the same summit twice. Especially with regard to the sold-out Entrata Summit in Park City next month.
If you’re lucky enough to be returning to the Summit you will recognize a lot of familiar elements – but look a little closer; things have changed. continue