The Key Components of a Verification Platform
Leasing teams spend the bulk of their time aiming to attract residents to their communities. But equally important is making certain that those prospective residents will live up to the terms of their lease.
Tedious background checks have always been a not-so-exciting part of the leasing process, and they can become more frustrating when necessary information is ambiguous or unavailable. That’s why an increasing number of property management teams are opting for third-party verification services.
It’s a forward-thinking approach, but not all verification platforms are built the same. Apartment operators should vet screening solutions and make certain the platform they choose offers trustworthy screening results and an advanced level of screening intelligence.
Here are some of the features apartment operators should seek when considering potential verification solutions: continue
Online reviews often scathe apartment operators for lack of transparency about upfront fees. Trinity Property Consultants never wants to be on the receiving end of that complaint. The Irvine, Calif.-based apartment operator, which manages student and conventional apartment communities, even has a term that shows its commitment to upfront and honest online pricing: RENTsparency.
“We don’t want anyone to feel bamboozled,” said Carla Alicea, Vice President of Marketing and Training for Trinity. “We want to avoid wasting our Team Member’s time, and we never want to waste the applicant’s time and money on non-refundable application processing fees.
Alicea is serious about not wasting anyone’s time or money. In order to make the online leasing process more transparent, Trinity set out to improve its applicant screening process. continue
Prior to the pandemic, the leasing process was already shifting. While classic tours remained a staple, an increasing number of options were becoming available to prospects in the form of virtual, remote and self-guided tours.
As the pandemic hit, those contactless options not only became more sought out—they became a necessity. continue
How technology can assist with offline touch points
Throughout the tech revolution, the essential skills of a leasing agent have largely remained the same. Provide a welcoming smile, regularly walk the tour path to make certain nothing is amiss and clean up for-show units so they are ready for the eyes of prospects.
It’s all part of the standardized training process, which is similar for maintenance teams and additional onsite associates. But although tech hasn’t replaced these non-digital activities, it certainly has provided a way to make them easier and more streamlined. Essentially, it serves as the conduit that can bring together various onsite teams.
New technology tools allow teams to interact more rapidly, address any community issues efficiently and expeditiously, and provide modern touring experiences for both residents and leasing staff. Here are a few examples: continue
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.
Most prospects who submit an application to live at your community are everyday people looking for a home. You certainly don’t want to make their screening process a brutal one.
But not all applicants have pure intentions. While you want to create a seamless, low-hassle experience, you also have to protect your property from potential fraud. While standard background-check items such as credit and income are easy enough to check, data pertaining to rental history, criminal record and ID verification can be more difficult and time-consuming to collect.
Tech tools can unquestionably help in this process, particularly software that examines all of these parameters and can produce thorough and accurate results in a matter of minutes. But there are potential warning signs for fraud that onsite teams should be aware of, particularly when considering the cost of identity theft and fraud climbed to $16 billion in 2017.
Entrata’s Message Center lets properties communicate easily and efficiently with residents and prospects through branded and scheduled messaging. And now, with Message Center’s new template libraries with user permissions, we’re offering even better control to help promote brand consistency and empower site-level teams to communicate more effectively.
Communication is vital, and Message Center is a powerful tool. What can you do with Message Center templates? continue
Sometimes the leasing process is smooth and uninterrupted. And every now and then, the drive through rush-hour traffic is surprisingly smooth, a political conversation is cordial and well mannered and a root canal goes pleasantly well.
But most of the time, the leasing process takes a few unexpected turns and seldom follows a blueprint. You’re dealing with people, after all, each with their own leasing ambitions, timelines and varying bits of spontaneity.
Thankfully, technology provides ways to simplify the leasing process and avoid many of the common pitfalls that befall leasing associates. Automated communications can make life much easier. continue
In the days of instant gratification, a missed call from an apartment prospect can be exceedingly detrimental. In fact, that call might have been your only chance, because today’s prospects often immediately move on to the next community.
If a prospect is calling, you’ve already conquered a key hurdle by generating interest in your community. The initial call is often the first touch point with your property and your brand, and Entrata leasing centers alone handled 2.1 million calls in the last 12 months. This is no time to alienate these prospects – it’s time to bring them home, literally, as a resident of your community. continue
Leasing office life would be a lot simpler if all leads were created equal. But they’re not. And unfortunately, you can’t always tell just by looking whether or not a lead is likely to progress to a lease. Luckily, you don’t have to just trust your gut when you’re trying to figure out if that prospect who’s excitedly calling about an available apartment today will sign a lease tomorrow or ghost you in a week. Entrata’s LeadManager is pleased to present Lead Scoring. continue
