5 Insights from Top-Performing Multifamily Owners

Technology assists renters in every step of their research process for an apartment, and it can push your business forward in smart and unexpected ways. Learn five insights that can save you money, keep tenants engaged, and more.
October 29, 2018
Tech

Multifamily owners can benefit from the hard-won tips of other owners. These five tips will help managers run their multifamily businesses more smoothly and profitably. From organizational systems to virtual reality and artificial intelligence, owners have been making strides and putting new thinking into action. You could catalyze big gains in your business with small changes based on these tips. Each tip is focused on technology, and all provide crucial advantages.

1. Customer relationship management systems are key.

If your leasing teams are spending most of their time following up on potential leads and they aren't using a Customer Relationship Management (CRM) system, they're wasting time and resources. By tracking prospective renters and setting goals for daily activity, leasing agents are more likely to provide a personalized experience in their communication. They are also able to respond faster such as a 1- to 2-minute response rate versus 39 hours, the industry average according to LeaseHawk data.

2. SMS messaging gives you another level of access

Your residents want quick and simple answers to their questions, and most likely, they will ask the same questions repeatedly. By utilizing SMS text messaging, you can communicate with your residents on everything from marketing to maintenance tasks and reach out to potential prospects easily. Some 81% of Americans use SMS on a daily basis. Each year in the U.S., more than 2 trillion text messages are sent. Taking advantage of this communication medium can elevate your business.

 

3. Social listening can lead to better prospects.

You want to know how your reputation is developing online, whether for a property or for a leasing team. Setting up social listening tools to follow the conversation helps you head off problems quicker, understand what's missing and what's working, and allow for targeting the right prospects through cost-efficient social advertising. Use it to tailor your own social media to be more engaging, which will help draw in the high-quality prospects you are looking for.

 

4. Virtual reality can give you an edge.

Why show someone a floor plan and photos when they can do a Virtual Reality (VR) walk-through of the unit? High-end rentals, especially with marquee architects, are moving towards a VR presentation of the building and units, so that the prospective renter can fully envision the home. It's hard to beat the unique appeal of the VR walkthrough, which could give your building the edge in a competitive market.

 

5. AI features make it easier to do business.

Luxury rentals have long been associated with a doorman for security. But you can save money through artificial intelligence-powered security monitoring instead, providing residents with up-to-the-second information on home safety. The tenant can use their smartphone to know if someone has entered or exited their property, with an easy option to alert the police directly regardless of where you are when you receive the alert. AI-like tools can also help behind-the-scenes, with things like automated conversational assistants that can pleasantly interact with your callers and answer their questions after hours or when your staff is unavailable. Learn five ways AI will transform the apartment industry.

Learn More

Ready to see LeaseHawk in action?

Fill out this form to learn more.

Related Posts

Tech

The Best Multifamily Digital Leasing Agent, from the Experts at LeaseHawk

What does it take to be multifamily’s best digital leasing agent? With more AI leasing tools available than ever before, it can be hard to know which is best for your properties. Read on to see why LeaseHawk’s digital leasing assistant, ACE, tops the competition.

January 29, 2018
Tech

How to Not Disappoint with Your Apartment Chatbot

Prospects are seeking instant answers from digital resources to make their rental decisions. However, 73 percent won’t use your chatbot again if their experience ends up being a negative one. Be on the lookout for these chatbot mistakes and learn how you can avoid disappointing your prospects.

January 29, 2018
Tech

The Apartment Industry Embraces Automated Leasing

The era of automated leasing is upon us. The pandemic created 10 years’ worth of apartment industry technology in about 100 days, some are saying. But the technology with perhaps the greatest penetration – and growing – are virtual leasing assistants.

January 29, 2018
News

ACE Reduces Leasing Office and Call Center Hours for Top Apartment Companies

Learn how top apartment companies ZRS, UDR, REMM Group, and Nicol Investment Company address staffing and operational challenges with AI innovation, ACE™ Virtual Leasing Assistant powered by LeaseHawk.

June 9, 2022
People

What’s a Good Closing Ratio for Leasing Agents?

Leasing is an art and a science. Ready to make it your goal to consistently outperform the industry average? Find out how the average leasing agent performed in 2021 and follow these tips on how to improve your own performance!

April 13, 2022
Tech

The Best Multifamily Digital Leasing Agent, from the Experts at LeaseHawk

What does it take to be multifamily’s best digital leasing agent? With more AI leasing tools available than ever before, it can be hard to know which is best for your properties. Read on to see why LeaseHawk’s digital leasing assistant, ACE, tops the competition.

March 31, 2022

Join Our Newsletter

Get the latest multifamily news, how-to's, infographics and more delivered right to your inbox.