With virtually any tech innovation, a primary objective is to make it as universally accessible as possible. A cellphone provider that only has service on coastal markets or smart locks that only work with iPhones probably won’t have widespread impact.
The same holds true for property management systems. In order to be a truly comprehensive operating system, the platform can’t contain an abundance of niche features that only work in limited locales or for certain types of properties. While it’s OK to have a few niche features of the add-on variety, the primary components of a successful operating system should be more universal.
Most of the industry’s leading providers are keenly aware of this concept and diligently work to make their platforms accessible to all reaches of the U.S. But few have looked beyond our borders to expand the product internationally.
That’s what makes Entrata’s recent expansion into Canada unique, but it wasn’t done without a measured approach and, naturally, a bevy of data crunching. The pandemic reshaped living and working habits across the globe, and while many took note of the ever-shifting landscape in the U.S., Entrata also intensely analyzed Canadian renter trends. continue
With widespread concern over the COVID-19 (coronavirus) outbreak, Entrata’s focus is on keeping our team members safe while maintaining service without disruptions to our partners and clients. We have watched closely as the situation has evolved, and I’d like to update you on the steps we’re taking.
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
The 2016 Entrata Summit, held September in Park City, marked one year since the company announced its new ResidentPortal mobile app, which would give residents the ability to pay rent by voice or photo, from any mobile device. Since its official launch in December of 2015, announced Entrata’s VP of ResidentPay, Kate Hampton, the app has surpassed 120,000 users, over 800,000 sessions, and achieved a strong five-star rating in the app store.
“The insights we have been collecting over this period are convincing us more and more every day that electronic payments is the only logical path to follow to achieve sustainable business performance,” said Hampton. Although payments in the multifamily industry haven’t changed much in recent decades, Hampton asserted that the old ways of collecting rent are fast becoming outdated, if they’re not already obsolete. continue
As 2016 approaches, Entrata is pleased to announce a release designed specifically to add some money to your property’s bottom line. Introducing Master Policy!
Master Policy is an insurance solution that works in conjunction with our ResidentInsure™ renters insurance. Essentially, it allows property managers to enroll any unit for which the resident does not provide proof of coverage on a master policy that covers the resident’s contractual liability, protecting both residents and the property in the case of accidental damage.
Everyone has heard the horror stories of resident-caused damage, and it’s all too common that the property is left with a hefty bill and not much hope of being able to collect from the responsible parties. These days most properties will require residents to purchase renters insurance as a term of the lease. However, audits show that, even with a preferred provider and insurance software programs, as many as 20 percent of residents are still non-compliant at any given time. That’s where Master Policy comes in: it helps enforce compliance throughout the entire life of the lease.
But we haven’t even gotten to the good part. Saving money by making sure residents are covered for accidental damage is one thing – adding dollars to your revenue is quite another. And Master Policy can do just that. Properties using both force-placed policies and HO4 policies can actually earn money with the addition of administrative fees or other charges to the base premium. Current estimates based on ROI analysis indicate that a 10,000 unit company may earn as much as 1.5 million dollars in five years. A prosperous New Year indeed!
Can Master Policy work for you? We think so. This release isn’t just another product feature or setting – it’s an opportunity to change how your property operates. By addressing the issue of resident non-compliance and adding revenue, Master Policy has the ability to help you invest in adding value for both residents and owners. Get in touch with an RVP for more information on how you can get started.
What does it mean to be an official member of the revamped Red Shoe Club?
Official Red Shoe Club Membership is reserved for the industry’s most fearless innovators and experts excited to be advocates for our brand. They’re on the front lines, wearing their red Vans, showing love and filling cyberspace with expert advice and the good word about our people and products.
Even if you aren’t a keen observer, you may have noticed we are no longer Property Solutions. Indeed, we have dawned the title of Entrata, Inc. But why the change? Well, it definitely wasn’t on a whim. A lot of thought went into the decision, and it was agreed that it was what we needed.
Entrata means “open” and “portal,” and as the name of our product platform, represents our non-restrictive business philosophy. Our new name shows what we stand for—to meet and exceed the expectations of our clients and everyone else in the industry through our unique brand of innovation, like the true Joneses we are. And it was important to us to be able to communicate this, and our dedication to be who we say we’ll be. It made sense to us to rebrand. This is the best way we can think of to be, well, us. continue
What do the “godfather of the iPod” and Nest founder, Tony Fadell, and veteran Everest summiteer and the only American to have summited the world’s highest peaks without supplemental oxygen, Ed Viesturs, have in common? They’re both going to be hanging out with the Entrata crew in Park City this September as guest keynote speakers at the 2015 Summit! Fadell and Viesturs will join a growing list of guest speakers and panelists in this year’s agenda, focusing on promoting innovation and success in the multifamily industry. continue
Just three months after announcing our Paperless Payment Program to the industry, we’re starting to see the results. And, just as we expected, they’re consistently great. As more and more properties make a culture shift toward online payments, residents are embracing the technology and convenience offered by the ability to pay their rent from any computer or smartphone.
Michael Wise, Director of Marketing and Leasing at RAM Partners, LLC, is working closely with his properties to message online payments to residents. In conjunction with the Independence Day holiday, properties posted Facebook messages like this one which reads “This week, we celebrate the many FREEDOMS we enjoy. Don’t forget, you can submit your rent payment online: FOR FREE! Ask your local RAM Leasing Team how.” continue
Property Solutions is pleased to announce our second annual user Summit on September 10-12 in beautiful Park City, Utah. Like last year, we’re gearing up to offer a lot of great food, fun, and valuable information for all attendees.
For two and a half days in September we’ll bring leaders from every corner of the industry together in the mountaintops of Utah. From marketing to accounting, IT, and operations, we share a common goal of finding ways to innovate and improve our space. When you get that many smart people working toward a common purpose, incredible things happen. continue