Entrata Blog

Entrata recently hosted a webinar exploring the transformative potential of AI in resident communication and provided a comprehensive overview of how AI is reshaping the multifamily landscape. When implementing AI, or any technology for that matter, one of the primary considerations should be how is this going to improve the resident experience. Followed closely by how it is going to make site teams more efficient. The speakers covered eight compelling use cases for AI in multifamily...

In property management, efficient procurement is crucial. Having everything your site staff, maintenance teams, and residents need on hand is imperative. But managing these purchases can be a complex and time-consuming process. That's where an optimized procure-to-pay (P2P) system comes in. Let's break down how to improve efficiency and save costs at every step, using the example of purchasing bathroom sinks for your entire portfolio.

Procure-to-pay (P2P) is more than just a buzzword; it's a comprehensive approach to managing spending, from the initial request for goods and services to the final payment. In the property management industry, an effective P2P process can be a game-changer, ensuring that your properties have the resources they need while maintaining financial control and efficiency.

Currently, it’s very easy to go online and create fake pay stubs or new identities that will help individuals get approved that may not meet all of your requirements based on their actual credit history and income. In the past it has been time consuming and/or costly to run background and income checks on applicants. So the question arises how in-depth your screening process needs to be?

During the recently held Entrata Summit, members of the IRT Living team discussed how they attacked change management when implementing Entrata. The following is a brief recap of their presentation.Change is never easy, especially when it involves a core system like your property management software. But sometimes, change is necessary to achieve growth and operational efficiency. IRT Living, a publicly traded company with over 100 communities, recently underwent a complete overhaul of its property management system, migrating to Entrata. This transition was a significant undertaking, but by focusing on careful planning, strong partnerships, and comprehensive training, they were able to achieve a successful rollout and drive positive change within its organization.

He probably wasn’t thinking about the 2024 multifamily industry when he said it, but Greek philosopher Heraclitus seemed to hit the nail on the head—the only constant in life is change. Whether it’s ever-evolving tech tools, updated regulatory measures or modified onsite processes, change is a perpetual part of the landscape for multifamily industry professionals. As such, apartment operators must have measures in place to to strategically implement and reframe how we think of change in a way that on-site teams feel empowered rather than overwhelmed, according to a panel at the 2024 Entrata Summit session From Burnout to Breakthrough: A Blueprint for Navigating Technological and Industry Changes. 

In the most recent episode of Entrata’s Resident Experts webinar series, Virginia Love, Industry Principal at Entrata sat down with Josh Goldstein, Vice President of Strategic Partnerships at Flex, to discuss the evolving landscape of resident expectations and how technology can be leveraged to create a more personalized and empowering experience. With a focus on innovation and resident-centric solutions, Goldstein highlighted the importance of flexibility, optionality, and human connection in today's multifamily market.

While AI has been a buzzword in multifamily for the better part of a decade, it remains in its infancy. Its presence can be compared to the early stages of the internet—the days when chat rooms were popular—in that people are recognizing its value but still figuring out its capabilities and large-scale ramifications. In recent years and particularly in 2024, AI has transformed from a background concept in the industry to a full-fledged trending topic. Most industry conferences, board meetings and general discussion focus upon the subject. Members of Entrata’s Product Design team discussed AI’s short- and long-term possibilities at the 2024 Entrata Summit session Humanizing AI: Leveraging the Strength of Humans and Machines. 

One applicant displayed a fake paystub. Another submitted inaccurate bank records. Yet another was using a synthetic ID. It was a heck of a day for the property management team—but unfortunately, not necessarily a rare occurrence in today’s apartment landscape. Fraudsters are becoming more sophisticated, and property teams must fight back just as fervently, according to a panel at the 2024 Entrata Summit session Fraud Detection and the Future of Risk Management. While many tools are effective in limiting certain types of fraud, a singular solution often leaves gaps in the process. Panelists agreed that a multitiered approach works best to help curtail what could turn into significant financial losses.

In our previous blog post, we discussed the importance of the move-in process to create satisfied residents who are more likely to extend their lease, but that’s just the first step. You need to continue delivering on the expectations of service after they’re in their apartment. An obvious first step is to have an open line of transparent communication between you and the resident. This is one area where you can incorporate AI and automation to deliver quick responses by having chat bots and other programs handle first contact and then route it to the right department. Generative AI has the ability to answer simple questions for your residents in a way that still feels personalized, which is the foundation for building lasting relationships with residents. 

You find tickets for a sporting event for a reasonable $70. Enthusiasm is high. But when you proceed to the final checkout, the price has climbed to $103 a piece due to fees. Buzz kill. That’s often how it works for apartment seekers, as well. 

In today’s apartment industry, with overburdened onsite associates facing an ever-growing array of challenges and pressures, it’s imperative that operators prioritize creating an efficient and supportive work environment for them.