The apartment industry is deploying technology like never before. But for multifamily solutions to truly create efficiencies, improve business performance and allow operators to provide best-in-class service for renters, those solutions must offer an intuitive, comfortable user experience.
Entrata’s efforts to create those experiences took a turn in the spotlight in the Designing a Better User Experience session at the 2022 Entrata Summit. The session featured members of Entrata’s UX team as well as client partners. continue
When it comes to attracting prospective residents, property teams highlight everything from flexible lease options, a unique suite of amenities and posh in-home features to exceedingly pet-friendly accommodations.
All have the potential to positively sway the decision of a potential renter, but some would argue that the most enticing incentives might be less glitzy than a resort-inspired swimming pool or stunning rooftop deck. For most renters, their own finances still matter most.
Finances and amenities seldom have been linked—and often seem mutually exclusive in most cases—but that is starting to change, according to panelists at the 2022 Entrata Summit session Financial Protection for Residents Protects Your Properties. continue
There is no disputing that onsite teams are busy. They juggle prospect outreach, real-time resident requests and community events throughout the day—just to name a few of their duties.
Navigating through a clunky operating system shouldn’t be an additional time constraint.
Software should speed up the process rather than slow it down, particularly by automating tasks that, if done manually, would be more of a time drain than bingeing on a nine-season docudrama. At the 2022 Entrata Summit session The Power of Automation – Entrata OS, members of the company’s training team shared the most recent automation updates designed to help teams free up that valuable time. continue
For a long time, the multifamily industry had a reputation for being reluctant to embrace innovation and change.
But that reputation has started to fade in recent years, in part because of the way apartment communities turned on a dime to implement technologies like self-guided and virtual tours during the pandemic. In addition, increasingly sophisticated software is permitting operators to manage leads and set pricing more efficiently than ever, while solutions like chatbots and other types of AI are allowing prospects to interact with communities 24/7.
Centralized leasing represents another emerging area of innovation for multifamily companies. Instead of using traditional onsite leasing teams, many operators are placing leasing associate teams in central offices, or allowing them to work remotely. In these frameworks, they’re responsible for multiple properties, which maximizes efficiencies, ensures a consistent experience for prospective renters and allows associates to focus on leasing apartments.
The Making the Switch to Centralized Leasing session at the 2022 Entrata Summit examined approaches to centralized leasing and explored the benefits to operators of such arrangements. continue
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