It's no secret that our society has become increasingly reliant on social proof for purchasing decisions. Whether it's for the best restaurant, best park, or best car buying experience, consumers are hitting all sorts of review sites before they say 'go time.' Given the importance placed upon reviews by consumers, the resident experience is one of the most important focuses for owners, operators and managers. For many potential residents, this ar ...
For those of you plugged into the world of parking (huge show of hands!), you may have noticed a significant shift in the attitude toward parking in cities across the country. For the rest of us, you may just be feeling the effects of the changes. Hundreds of municipalities and two states have begun moving away from their current (and, quite frankly, often rigid and inconsistent) off-street parking regulations. The positive? It's doing a great jo ...
Ready for Centralization? Time to ACT on it!
Once you’ve completed a centralization assessment and constructed a roadmap for the resident experience, it’s time to ACT on centralization. ACT is an acronym for choosing when to Automate, when to Centralize, and when to utilize
The Three Essential Ingredients of Centralized Leasing
Whichever approach a company chooses, there are three main ingredients to a centralization project: self-guided tours, flexible labor and task automation. As with all recipes, each ingredient can be used to a different degree, depending on individual company preferences. I have outlined each of the three components below. What Makes a Great Self-Guided Tour Experience There are several ways that a prospect ca ...
Centralization of Multifamily Leasing: Preferences and Playbooks
As we think about the different ways of centralizing leasing activities, we should keep in mind the objectives of the leasing process. That is, of course, to sign leases. But to reach that stage, leasing teams must process many inquiries, relatively few of which will ever convert. The turnover rate on leases is nearly 50% in U.S. multifamily communities, so filling those units entails substantial work. Conversion rates for ...
The Prospect Journey: What Interactions Do You Want and When Do You Want Them to Happen?
Throughout the leasing process, from lead generation to signing or closing out the lead, there will be several touch points that require technological or human action. The trick is to strike the right balance and use each one at the appropriate time. Human interaction is still a vital part of most customers’ leasing experience. Too much technology takes away the per ...
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