When it comes to technology, there is a lot of excitement in the multifamily industry right now. More than ever, operators have the ability to optimize the performance of their portfolios while also providing prospects and residents with the experiences they demand.
But the adoption of any technology is not a decision to take lightly. That’s because implementing a new solution can be a wildly disruptive process. Diligent planning and careful communication are paramount.
Drawing on their experiences with adopting the Entrata platform, operators in the Managing the Change session at the 2022 Entrata Summit provided a wide array of advice for the successful deployment of new technologies across a portfolio. continue
Musical artist Doja Cat was on TikTok, mildly grumbling that Taco Bell was requiring her to rap about food for an upcoming commercial. Her commiserating followers tracked the progress of her saga, making certain to see how the song came together.
This, though, was all part of an ingenious marketing approach by Taco Bell, which asked Doja Cat to bemoan the rap request in low-key fashion. Millions followed her pursuit and it worked wonders for the fast-food giant.
Marketers are constantly seeking fresh ideas to reach an ever-evolving target audience, and it’s no different in the multifamily space according to panelists at the 2022 Entrata Summit session What’s Next in Multifamily Marketing? continue
Apartment managers trying to forecast the wants and needs of tomorrow’s renters need look no further than the occupants of today’s student-housing communities. Based on the insights of panelists in the Student Renters: Defining the Future of Multifamily Experiences session at 2022 Entrata Summit, the apartment industry needs to prepare for a different kind of resident.
Student-housing operators in the session reported their renters are more focused on technology, sustainability, and diversity, equity and inclusion initiatives than preceding residents. They also have exceedingly high customer-service expectations, demanding lightning-quick responses and resolutions to their problems, panelists added. continue
A group of friends goes out for the night, but one of them forgets their wallet. One good soul in the group decides to pick up their expenses for the evening, trusting the friend to pay it back in a timely manner.
It’s a scenario that’s played out countless times over the decades, but it’s handled differently in modern times. Through apps like Venmo, repayment can be delivered instantaneously. The lending friend no longer must wait until the next time they see each other.
There is no reason rental payments shouldn’t be the same way. And essentially every other transactional facet of multifamily, as well.
Technology has made it possible for instantaneous rent payments, business-to-business transactions and even overseas B2B transactions that immediately adjust to the currency scale. Apartment operators that shy from these “smarter not harder” FinTech solutions are leaving something on the table, according to panelists at the 2022 Entrata Summit session FinTech Solutions for Growing Multifamily. continue
It is perhaps natural for apartment owners and operators to fret when thinking about a potential future of stringent environmental regulations and reporting requirements. But the growing movement toward sustainable practices and away from fossil fuel consumption presents multifamily companies with opportunities to powerfully benefit their bottom lines.
That was one of the messages from panelists in the Energy Sustainability Management: How to Achieve Your ESG Goals and Increase Property NOI session at the 2022 Entrata Summit. continue
Multifamily organizations often exhale when all the nuances of their software system are firmly in place. And by the time that breath is complete, it’s quite possible that something has already shifted in the industry that requires another tweak of the system.
For cutting-edge operators, this isn’t daunting as much as it is reality. They are constantly analyzing industry data, submarket trends and morphing resident behaviors, and they know they must be agile enough to adjust on the fly.
They need software capable of doing the same, as a panel discussed at the 2022 Entrata Summit session The Evolution of Software: Where Technology Shifts are Taking Place and How Companies are Adapting to Put the Best Solutions in Place. continue
When new smart technology arrives, it’s tempting for operators to instantly adopt it. Doing so ostensibly puts them ahead of the curve and creates a competitive advantage.
But that approach can be haphazard and unearth more headaches than efficiencies. A more measured, intentional approach works best, according to panelists at the 2022 Entrata Summit session Purposefully Choosing Smart Living. continue
Of the many challenges facing multifamily operators in 2022, the number of leads typically isn’t among them.
But operators may find the task of attracting quality leads and providing them with the customer experiences they’re seeking to be a daunting one.
In the Engage and Convert Leads with the Right Sales Strategy and Tools session at the 2022 Entrata Summit, panelists provided a wealth of insight and recommendations for how multifamily teams can nurture the right leads and get them to sign leases. continue