For property managers, a solid tech platform consolidates marketing, leasing, and resident management functions to cut out redundant data-entry, streamline workflows, and consolidate data for better reporting. But even in a world of single-platform solutions, a few property management workflows often remain stubbornly apart.
Utility billing is one example, with many properties relying on third-party billing services to facilitate utility billing, maximize recapture, and decrease delinquencies. Unfortunately, this often means efficiencies are lost. continue
Fraud attempts across industries in the US are up an average of 25% this year, and according to a recent study conducted by Entrata, the property management industry is feeling the impact of this rise in fraudulent activity. The survey findings reveal rapid growth in the number of fraud attempts and increased concern about the impact these cases are having on operations. The results provide a unique view into the types of fraud plaguing the industry, the frequency of such attempts, and shed light on ways new technology may help combat these issues. 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
Does it feel like your phone is ringing more than usual? Like it’s getting harder to keep up with new calls, much less return every call awaiting a response? You’re not imagining things. In the last six months, Entrata has recorded a year-over-year increase of calls to properties of anywhere from 11% to a whopping 21%. It’s not just people looking for new homes, you’re also getting more resident calls.
Add this increased call volume to the safety measures that have fewer team members in the office, and it’s easy to see why so many communities are feeling overwhelmed and reaching out for a little help. Call Centers are having a moment as they step in to provide a necessary service to properties, residents, and prospective renters alike. But it’s not as simple as making sure calls are picked up. continue
While new iterations of existing tech platforms can be compelling, nothing elicits more excitement than completely new products.
The need for innovation never stops, and the Entrata team has been busy developing many platform enhancements in 2020. Team members shared updates of recent rollouts and things to come during Episode 3 of Entrata Connect. continue
Apartment communities have tremendously reshaped their websites over the past several years. Bland, functional layouts have been replaced with more eye-popping, attention-grabbing pages layered with 3D photos and other visual elements to entice prospects.
Entrata has aimed to aid the pursuit with its Creative Services branch. The company launched its Design Studio at the Entrata Summit in 2019, and several clients have since joined for in-person and virtual sessions. Those include Greystar Investment Group, Mill Creek Residential and RangeWater Real Estate, who discussed their respective experiences in Episode 3 of Entrata Connect. continue
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
Appropriate tech training increases the value of your organization’s software platform. Training platform users eliminates guesswork, improves process adoption and helps your team feel more comfortable with daily workflows. Luckily, Entrata’s training program offers a multitude of training options at no extra cost. 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.
Each October the Department of Homeland Security launches a campaign to raise awareness about the importance of cybersecurity. With news of data breaches increasing in both frequency and scale, we think it’s a great time to look at a few of the essentials that should be in place to keep your residents’ data safe and secure.