Nearly 90 percent of all renters want to see a property before signing a lease and 31 percent want the option of an online tour. Rental property tours are one of the most crucial tools required to outperform the competition and they can make or break whether a prospect decides to sign a lease.
Prospective renters are routinely able to readily access self-guided in-person tours, virtual tours, 3D walkthroughs and online applications to maximize convenience and minimize the need for interactions with onsite associates. In addition, chatbots allow prospects to get answers to their questions 24/7.
The top storylines in multifamily this week are renewal automation, investing in the future, wellness in building design, the evolution of the prospect journey, sight maps and self-guided tours, proptech, leasing power shifts to residents, rent control and the Fed holds on interest rate hike.
The week leading into Apartmentalize was packed with announcements from proptech firms. Among the news was Rent.’s introduction of integrated tour scheduling and Janine Steiner Jovanovic named CEO of LeaseLock, a lease insurance and financial technology provider.
The prospect journey has morphed, contorted, and then changed even more over the past decade. It has shifted pronouncedly even when just considering the past few years. Odds are the journey will shift even further within another five years.
One of the biggest issues facing multifamily has many different names. While “The Great Resignation” and “Quiet Quitting” may make for great headlines, these labels take away from the complexity and nuance of the issue — the gaps in the employee experience are affecting drive, performance and retention.
The top storylines in multifamily this week are assistance animals, corporate wellness, hotel-style amenities, development technology, proptech, online reviews, homeownership drops, mental health construction and why the future of multifamily is in good hands.
While the typical industry reaction to rent growth decline is to batten down the hatches, operators are finding that focusing on resident renewals and identifying new NOI strategies within day-to-day operations better positions them to weather the storm.
The top storylines in multifamily this week are ESG reporting, pet-centric amenities, combatting rent growth loss with revenue recovery, pet tech, selecting proptech, ChatGPT and real estate, the dying American Dream, popular amenities and government lending.
The top storylines in multifamily this week are tenant satisfaction and renewal rates, electrical issues, proactive leasing, the customer experience, income verification, centralized leasing, the constitutionality of rent stabilization, apartment maintenance expenses and Montana blocks rent control.