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
We share a continent and a common language. And now the U.S. and Canada have one more thing in common. Entrata has announced the availability of ResidentPay online payments for our clients with Canadian properties. 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
Very few in the business world would dispute the power of partnerships. The challenge exists in finding the right partner, one that is mutually beneficial and genuinely moves the needle for an organization.
The multifamily industry has gotten more aggressive in implementing partnerships with consumer brands in recent years, but it remains a work in progress. The growing number of partnerships is largely concentrated among tech providers, most notably in the smart-home category. continue
A few years back, multi-touch attribution was a fledgling concept. The ability to accurately track an entire customer journey didn’t seem entirely feasible. But it is now a reality and has created a significant boost for multifamily marketing teams, providing greater visibility into the customer journey.
Not only can marketing teams track a customer’s path to conversion. They can also see the combination of sources that result in the most conversions and measure the step-by-step process of marketing channels that lead to higher conversion rates. This enables teams to delegate future marketing expenditures accordingly.
So what’s next? continue
Navigating reports has never been among an apartment professional’s favorite things to do. And when those reports are flawed, their aversion to them grows.
To be fair, many common complaints surrounding reports are difficult to argue. Among the most common we hear: They are incomplete, not thorough enough, too convoluted, take too long to generate, contain too much information, present data that’s hard to quantify, and—if we want to border on nerdy—aren’t granular enough.
Thankfully, the myriad of grievances hasn’t gone unnoticed by the industry. As abstract as they may seem, reports are an integral facet of an apartment community’s decision-making process. It’s a matter of making them more user-friendly and more inspiring for community teams.
That effort is well underway, as Entrata is committed to extending enhanced reporting capabilities to its partners. Here are some of the advancements Entrata is working on and the potential benefits to the user experience: continue
For all of the focus dedicated to technology, it is nothing without a human element. It’s empty and cold. A mechanical world without human touch would essentially alienate the very reason technology exists—to better the human experience.
Tech designed to augment the actions of the user—rather than replace them—has consistently proven to be the most functional and well received. That notion commonly holds true in the multifamily sector, which puts the onus on the industry to do its part. This includes shaping the user experience based upon how residents and team members interact with the technology. continue
Data is like oil to multifamily organizations, a valuable resource that takes a fair share of effort to acquire. And like oil, obtaining data is only half the battle, as both are of most value after being properly refined and processed.
While data integrity is essential in any industry, this is especially true in multifamily. Critical investment and pricing decisions rely heavily on the information this data provides. There is no overemphasizing the importance of strong, reliable data to aid better decision-making and improve operations.
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.
The apartment world is only scratching the surface with regard to the possibilities of artificial intelligence. Marketing technologies such as automation are a bit further along in the multifamily spectrum, but there is plenty of room for growth there, as well.
The possibilities become exponentially greater when AI and martech are used in tandem.