Entrata Blog

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.

Managing utility costs for a multifamily property can be a huge headache. Whether you’re working with a ratio utility billing (RUB) formula, submetering, or an allocation method, dealing with local utility providers, navigating local regulatory issues, and collecting fees from non-compliant residents can consume huge amounts of a property manager’s time. The industry has responded by creating a handful of tools to manage the minutiae of utility billing and collection. Unfortunately, managers have never been able to alleviate all of the headaches associated with utility billing. Until now:Property Solutions’ ResidentUtility fits seamlessly into our suite of web-based property management solutions, and offers more functionality and efficiency than any other utility billing solution: Utility Cost Management: ResidentUtility can help properties recapture much of their utilities expenses and significantly boost the average property’s NOI. We work with you to develop and provide an NOI analysis and plan, and benchmark against that plan. Regulatory Compliance: Starting with bill acquisition and digitization, we work with you and local utility providers to help ensure regulatory compliance within each jurisdiction by embedding client rules that reduce sources of error and loss typically associated with utility billing. Data integration: ResidentUtility takes advantage of the robust architecture and integrations already built by Property Solutions for payment processing, resident portals, and other systems. This allows us to use data and functionality already in place to clear up traditional bottlenecks and reduce human error. Convergent Billing: Property Solutions’ best-of-breed data integration makes it possible for ResidentUtility to offer the most efficient convergent billing option available. Residents are provided with a single bill for rent and utilities charges and a variety of payment options. This functionality increases cash flow for your property by reducing rent delinquency by as much as 20 percent. Vacant Cost Recovery: Our system provides stand-alone billing for sub-metered utilities that residents fail to switch into their name before move-in, which can generate an additional $15,000 to $24,000 NOI per property. Best of all, questions about VCR bills can be directed to Property Solutions’ support team. With these features and additional functionality coming soon, getting started with ResidentUtility is one of the smartest decisions a property manager can make. For more information, check out our website or contact us at 877-826-9700 to schedule up a demo.

In this recurring blog series, Entrata will review the latest legislation for you to help ensure you are in the loop and don’t fall out of compliance and are prepared for upcoming deadlines. However it is important to note, the information contained herein is general in nature and is not intended to provide, or be a substitute for, legal analysis, legal advice, or consultation with appropriate legal counsel. You should not act or rely on information contained in this document without seeking appropriate professional advice.

With all of the messages residents and potential residents are inundated with every day, it can be hard to cut through the noise and make sure they are not only receiving your messages, but also opening and reading them. What makes this even more difficult is all of the responsibilities your leasing agents and on-site staff have on their plates that consistent communication is often put on the back burner.

While 2020 can still lay claim to the most chaotic year the apartment industry (and perhaps everybody else) has ever experienced, we didn’t exactly get back to business-as-usual in 2021.

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.

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.

The apartment industry did a collective exhale in mid-June, which was fitting. Apartmentalize, the industry’s largest conference—and the one most thoroughly planned for by operators and suppliers alike—had made another successful three-day run.

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.

An accessible, 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.

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.

FCC Updated Rules to TCPA Consent In this recurring blog series, Entrata will review the latest compliance information for you to help ensure you are in the loop and don’t fall out of compliance and are prepared for upcoming deadlines. However it is important to note, the information contained herein is general in nature and is not intended to provide, or be a substitute for, legal analysis, legal advice, or consultation with appropriate legal counsel. You should not act or rely on information contained in this document without seeking appropriate professional advice.