In June, Entrata will be reprising it’s wildly popular online event, Entrata Connect, for the whole multifamily industry. Connect is an event that grew out of the industry’s unique needs in the middle of a global pandemic, but has become one of the most engaging and beloved ways for multifamily professionals to, well, connect with each other no matter where they may be.
Those who attended Entrata Connect in October 2020 know to expect thoughtful and inspiring messaging, entertainment, and unique care packages delivered directly to their door, but we wanted to share a few details with those who may not have had the opportunity to join us last year to help you make the decision to join us in June. continue
We live in a data-rich world. Any PM software platform you use is going to offer lists of reports to find metrics on every aspect of your business. All of this data can offer a trove of information, but how much real insight does it provide?
Multifamily professionals can find themselves overwhelmed or confused when multiple reports approach the same issue from different perspectives, spending extra time to pull multiple reports, struggling to compare historical data with current trends, and losing faith when numbers aren’t what they expect to see. This wealth of information can end up muddying, rather than clarifying, decision making processes. It doesn’t have to be that way. continue
Intense data mining isn’t needed to proclaim the terms virtual and remote reached their crescendo in 2020. Essentially all activity in the multifamily environment—including onsite communication, education panels and industry conferences—gravitated away from the in-person experience.
But just like the industry’s migration to video and remote tours, the transition to virtual conferences wasn’t a flip-of-the-switch endeavor. It required a rethinking of standardized industry practices and a little bit of trial and error.
At Entrata, we’ve both hosted and attended several virtual conferences, and along the way we have observed some of the key components that help these events sizzle—or at least stand out.
Here are some of them: continue
When looking back on 2020 in a few decades, odds are it won’t be remembered as a banner year for the world. But that doesn’t mean that everything about the year should be permanently washed away.
Like almost everywhere else, it will be remembered as a trying year for multifamily. It will also be known as a year when the industry, by necessity, had to think outside the box and become extremely innovative. And while some of the newfound practices will be dated specifically to pandemic times, others are here to stay. At the very least, they laid the groundwork for the multifamily roadmap moving forward. continue
An accessible, functional resident portal was one of the technologies that put Entrata on the map. Providing an interface to residents to be able to pay rent, schedule maintenance requests, or just reach out to the leasing office any time of day or night was once a revolutionary offering in the multifamily space.
A lot has changed. Renters expect more from their communities than an online portal for rent payments. So we’ve been updating Entrata’s ResidentPortal to keep up with evolving demands. In 2020, Entrata made ResidentPortal 4.0 available to all of our clients using ResidentPortal. With this update, the power of the portal is greater than ever. continue
The introduction of artificial intelligence to the multifamily industry has been a measured process. Yes, many are using AI in the form of chatbots and for advanced automation. But to a large degree, AI is viewed by the industry for its future capabilities rather than anything that can make an immediate impact.
The apartment sector can make headway on that front by envisioning how AI can augment existing platforms, and then pairing them. continue
Data is a lot like a Peloton bike. It looks good and is great to have, but it only makes a significant impact if you put it to solid use.
Undoubtedly, data collection has become a primary objective for apartment operators over the past several years. But applying data in a manner that genuinely moves the needle remains elusive for many.
Utilized properly and effectively, the business intelligence derived from data can solve several pain points. From advanced submarket analytics to the ability to uncover undetected renter tendencies to intuitive pricing insights, the possibilities are aplenty. The challenge is rooted in converting raw datasets to actionable uses.
Here are a few recommendations to uncover the secret sauce contained within the data: continue
Practical Applications for Multifamily
As natural language solutions become more advanced, the multifamily industry is taking notice—albeit at a measured pace.
AI-fueled innovations such as chatbots are a great fit for the apartment world and are becoming increasingly popular. As machine learning acquires a stronger grasp on natural language, chatbots can adeptly answer a wider variety of questions from prospects in instant-messenger fashion.
So far, multifamily hasn’t delved much further than chatbots when incorporating natural language solutions into their processes. But the technology has significant potential to offer a variety of new solutions to the industry moving forward: continue
In the past, waiting a week to see if you qualified for an apartment was part of the territory for an applicant. But so was the inability to track the progress of a package shipment, or the need to wait for the rerun of your favorite show if you missed the original broadcast.
Prospects are much less patient in an instant-gratification world, and they should be given the abundance of digital tools designed to expedite these types of processes. The quicker an applicant can be verified the better—but the accelerated timeline shouldn’t come at the expense of an accurate and thorough review.
In addition to the fast-but-not-reckless approach, apartment operators have had to consider a handful of additional variables in the ever-evolving applicant verification process: continue
Tired of looking at the same old screens? Entrata to the rescue!
Follow @EntrataSoftware on social media (or check back here each week) for a fresh new look. You can download a new wallpaper designs for your phone, tablet, or computer each Wednesday. continue