Here are the top four multifamily technologies featured at this year's annual NMHC OPTECH conference in Dallas.
Trending topics at NMHC OPTECH this year included artificial intelligence, data privacy, and self-guided tours.
Over 2,000 professionals in the multifamily industry attended this year's NMHC OPTECH Conference. If you haven't already, check out our blog post on the Key Takeaways from Optech 2019 for access to summaries of speaker presentations and slides from the conference.
Many of the speaker presentations at OPTECH focused in on the topics of data privacy, artificial intelligence, and self-guided apartment tours, so we've decided to make a list of companies that have developed innovative technology in some of these areas.
Here is our list of the top 4 companies at OPTECH 2019 with innovative technology that will change the leasing process for renters and save time for your property staff:
Apartment Geofencing | Precise Prospect Targeting
Apartment Geofencing is a brand new company founded in 2019 by Matthew Kilmurry. Apartment Geofencing uses Simpli.fi technology to create digital fences around target zones that rental prospects are likely to visit such as competitor properties, neighborhood points of interest, employers, and more. Prospects in these areas are served targeted mobile ads that encourage them to visit the property website or make an appointment for a tour.
Apartment Geofencing clients can also place a geofence around their own property as a conversion zone, so they can track how many prospects from their target zones actually enter their leasing office. With geofencing, digital advertising can replace traditional community outreach and foot traffic can be digitally tracked. Visit ApartmentGeofencing.com to learn more!
LeaseHawk | AI Leasing Agent (ACE)
LeaseHawk recently introduced a new AI Voice Assistant technology called ACE in the summer of 2019. ACE is a virtual leasing agent that can distinguish callers from residents or prospects and is able to set appointments, check apartment availability, answer leasing questions, and collect guest card info.
ACE technology is able to answer leasing calls when agents can't get to the phone. With nearly 49% of phone calls being missed by leasing office, ACE technology can help fill the gap and give prospects the info they need to continue their leasing journey.
Tour 24 | Always Open. Always Leasing.
One of the most popular topics at OPTECH was self-guided tours. According to survey data, 40% of U.S. adults have passed on a property because they couldn't find time to see it. Almost all renters want to see an apartment before leasing, yet it's extremely hard to get to a leasing office after work.
Tour24 has developed an app that prospects can use for self-guided apartment tours, so that properties are able to keep their doors open for touring 24/7. Renters can follow audio and text prompts on their mobile phones and learn about a community using the Tour24 app. Many management companies have begun to augment their leasing experience with self-guided tours for after hours touring and re-tours. Check out the Tour24 demo video here to learn more.
PrintWithMe | Secure Resident Printing
While printing isn't the most sexy tech innovation, PrintWithMe has developed a product that you'll want to put some thought into. PrintWithMe offers self-service printers that encrypt resident documents and delete them after printing is complete, so that their information is kept completely confidential.
Data privacy was a hot button topic at OPTECH because of the new California Consumer Privacy Act (CCPA) legislation taking effect in January 2020. PrintWithMe addresses data privacy concerns related to printing, so that can print private documents confidently knowing that their documents are secure. Printing support is also available 7 days per week for residents and all supplies are auto-ordered and shipped directly to the property, so that leasing staff don't have to spend time dealing with printer issues.
That's a wrap of our Top 4 Companies at OPTECH 2019! We hope you've enjoyed our roundup of some of the most innovative tech companies in #Multifamily at the moment. We hope to see you at OPTECH in Vegas next year!
The multifamily budgeting season can be stressful, and this year, COVID-19 has not made it easier. After analyzing data from multiple studies, here are our top five insights to help you plan for the 2021 fiscal year.
Every year during fall and winter, property managers and owners nationally bury their heads in excel and balance sheets in an effort to anticipate and account for expenses that are ahead next year - this is known as multifamily budgeting season. And while most property managers and multifamily executives are no stranger to budgeting for the future, the real conversation this year is “How do you budget for a future that seems so unpredictable due to COVID-19?”
Read our top budgeting tips on how you can add value to your properties.
A crucial aspect of budgeting is about managing expectations of variable stakeholders, from ownership to your staff and residents. For the past few months, the conversation around the “new normal” for multifamily has dominated the headlines in forums, news sites, and webinars. It is easy to be carried away by the transformational and expensive COVID-19 ideas we could implement in the multifamily landscape (for example, implementing hospital-grade ventilation throughout apartments), but realistically, we need to ask ourselves the million-dollar question: “What exactly do existing residents and prospective residents need and want for the next year, and in the long-term?”
In times of uncertainty, we turn to data. Our team at PrintWithMe has pulled together our top five takeaways for the 2020-2021 budgeting season after reviewing the data and insights from leading multifamily surveys to guide your thoughts and decide on the year ahead.
Rent payment is one of the most important revenue sources for management companies and there has been serious, steadfast concern throughout 2020 about whether residents will be able to afford their rent as the economy slows due to COVID-19. While the NMHC Rent Payment Tracker had reported that 86.8% of households made a rent payment by October 13th, 2020, 42% of renters said they are unsure if they are going to make rent in the next 90 days.
It is crucial that we empathize with the residents whose livelihoods may have been severely impacted due to COVID-19 by providing them with resources to help them make rent payments. Other than potentially waiving late fees, property managers can also consider gathering resources online about rental assistance for their residents who might need them and creating cheat sheets regarding these resources for easy reference.
These are stressful times and residents are more likely to renew their lease if they know that their management cares deeply about them and their families regardless of their financial position.
Lia Nichole Smith, the VP of Education and Performance at SatisFacts, said that their studies also demonstrate the shift in residents’ expectations in the frequency and consistency of communications they’ve received from their property staff.
“When [on-site] offices are still closed, residents don’t think anybody’s working because they can’t see their on-site staff and they can’t see their dollars at work,” said Smith
When you’re budgeting for 2021, Smith recommends adopting creative ways, such as slipping a letter at their resident’s door, posting regularly on social media, and sending email updates to keep their residents engaged especially when it comes to COVID-19 related communications.
For digital communications, properties should consider investing in apartment mobile app communication tools, which allow residents and staff to network socially and communicate directly with each other safely online. Explore new multifamily app technologies that enable digital guest check-ins, digital amenity bookings, and virtual resident events. For non-digital communications, plan for the costs of printing additional papers, flyers, and posters that can help with resident education.
A recent survey from SatisFacts also notes that residents are very aware of a community’s social media efforts, and lack thereof.
“Residents are willing to pay more for a place that, to the outside world, looks like they’re celebrating their residents on social media in a positive way,” said Smith.
Fortunately, communicating with your residents via social media, including Instagram and Facebook, is made increasingly simple by using existing social media templates across the internet.
According to the World Economic Forum, a whopping 98% of people surveyed said they would like the option to work remotely for the rest of their careers. However, while we know that the majority of the working population is growing to embrace the transition to working-from-home, 86% of residents are not sure if they will continue to work-from-home after the pandemic concludes, according to the COVID-19 National Renter Study by SatisFacts.
Nonetheless, noting most people’s significant desire to remain in a work-from-home environment, property managers should consider factoring into the 2021 budget new work-from-home solutions to support their residents. The good news is that these new solutions do not have to be expensive, like installing phone booths or buying copper-based gym equipment.
Based on an internal study with SatisFacts, which will be made public in the coming weeks, we found that the top 2 amenities that could increase productivity for residents working/schooling from home are faster internet options (56.4%) and wireless self-service printing, copying, and scanning services (52.6%) - like PrintWithMe.
“Anything that makes working and schooling from home easier for residents will be crucial for at least the next six months,” said Smith. “I think a WiFi extender will make a great renewal gift.”
As you analyze new resident amenities that support working remotely, we suggest you look into the following factors:
According to the COVID-19 National Renter Study by SatisFacts, “Making certain residents feel connected to where they live will positively impact future renewal decisions. In a time of such uncertainty, renters are looking for stability; and they are craving to connect and feel a sense of belonging.”
“Residents want to see if their management has really stepped up their game to go above and beyond for them,” said Smith. “They are willing to pay more for a community that they can vouch for and that they will be confident in recommending their best friend to stay at the same building.”
The budget that may usually be set aside for residents' activities and in-person events could be reallocated to curating fun virtual events, thoughtful and safe gifts, and digital streaming fitness classes.
“I always suggest the ‘Take One, Give Two’ concept,” said Smith. “When you take one amenity away from your residents, you have to give them two in return. For example, if you’re announcing the temporary closing of your fitness center, you should consider providing online fitness classes or virtual fitness memberships so that your residents don’t feel like they are losing.”
The key here is to help your community stay connected while apart by offering gathering opportunities that are social-distance-friendly.
To summarize, as you create your annual budget for 2021, make sure to consider 1) providing rental assistance resources, 2) communicating regularly and effectively with your residents, 3) strengthening your community virtually, and 4) investing in important, affordable, and easy-to-implement resident amenities that help your residents work and school from home. Good luck!
Here are our top 5 ideas to (pumpkin) spice up your resident events this coming fall and keep your communities close while practicing social distancing.
Fall is arguably the most beautiful and fun season of the year, with festivities like Thanksgiving and Halloween or the simple pleasure of watching the changing colors of the leaves. Multifamily apartment communities are often very excited about the fall season, curating fall-themed resident events aimed to bring the community together to celebrate the season of gratitude.
However, thanks to COVID-19, 2020 has a very different plan for fall resident events. While in-person events and parties are off the table, there are plenty of virtual event ideas that property managers can explore to help keep residents engaged and delighted from their very own homes. Virtual resident events provide the perfect opportunity to keep your community connected during these uncertain times.
Here are our top 5 virtual apartment resident events for the Fall 2020 season!
Pumpkin decorating is the staple of the fall season. Although hosting an in-person pumpkin carving contest seems impossible as of now, companies like Garden Streets have just the perfect solution to help make this classic fall activity virtual and memorable.
Garden Streets is a nature-inspired company that hosts hands-on, family-friendly virtual events that will allow your residents and your team to bond over a unique experience. Not only do they supply all the materials needed, but the best part of all, everyone gets to “bring home” a fall centerpiece as a reminder of the wonderful experience.
Connecting with our neighbors while enjoying a glass of wine and snacking on cheese smorgasbord on a Friday happy hour event might feel like history. Luckily, catering companies are aware of the global virtual shift during COVID-19 and are fully capable of catering to your virtual food and drink events as well.
For your next virtual event, have a curated seasonal snack box delivered straight to your residents’ doorsteps or pre-order different wines from your local favorites and coordinate pick-up times with your residents. Then set up a virtual food or wine tasting party for all your residents to log in and enjoy great food and drinks together.
With everyone being stuck at home, refreshing apartments and homes with seasonal decorations become key to getting into the celebratory groove.
Host a simple and effortless Halloween or fall-themed contest and encourage your residents to decorate their apartments with their spookiest ideas. Residents can draw inspiration from Pinterest or blog posts like this by Havenly and then share it on social media. The photo with the most “likes” wins!
After months of quarantining indoors, many of your apartment residents may have run out of ideas on what to cook at home. So, why not bring a twist to the old-school, fall-themed recipe swap and inspire each other to try out new recipes?
Download the printable fall recipe cards from our Activity Center and host a virtual “show and tell” with your residents by having them show off delicious apple pies, share their family recipes, or simply grab a spiked apple cider and join the chat!
Imagine a virtual karaoke party, but swap actual singing for lip-synching, and add lots of wacky costumes. Sounds fun? We thought so too! Check out Hidden Door for easy setup of a remote lip-syncing virtual event for residents. Hidden Door lets you decide on the song or they can give you some options to choose from.
Residents are encouraged to be as creative as they wish to be in their video clips for their temporary stardom. Hidden Door will then compile and edit all the clips you submitted to create a final product like the one shown below. It will certainly get everyone talking about it for the rest of 2020.
Courtesy of Hidden Door (Vimeo)
In these challenging times, property managers are juggling different balls, from budgeting to engaging with residents, when many are still working remotely.
Our team at PrintWithMe admires the dedication property managers have towards curating an enjoyable living experience for their communities so, we want to help make your job easier. Whether it is generating useful content on our Activity Center or taking resident printing off your table, we are here to help.
Leave a comment below if you have tried any of the suggestions listed above or if you have more ideas we should add to the list!
PrintWithMe printer for Alexan on 8th, a TCR Apartment Community
We're thrilled to announce today our new national partnership with Trammell Crow Residential! We're excited to introduce our PrintWithMe printing service to their multifamily apartment homes nationwide.
Please read below for a reprint of our press release launched on Newswire today:
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CHICAGO, September 1, 2020 (Newswire.com) - PrintWithMe, the Chicago-based company bringing self-service printers to consumers nationwide, announced today a national agreement with Trammell Crow Residential (TCR), a pioneer of U.S. multifamily real estate that has developed more apartments than any other firm. TCR has over 40 years of development experience and has developed over 250,000 apartment units across the U.S.
"Printers in amenity spaces are one of the most frequently requested items in our custom resident survey program, which helps identify resident needs,” said Sue Vickery, Managing Director, Resident Experience West at TCR. “Having an automated solution like PrintWithMe to track supplies is a win-win for staff and residents alike.”
PrintWithMe is the leading self-serve wireless printer amenity for multifamily apartments. Founded in 2014, PrintWithMe has over 1,000 partners in 47 states. PrintWithMe is increasingly useful for residents who are working from their apartments due to COVID-19. All PrintWithMe printers are contactless, CCPA-compliant, and able to automatically order paper and toner. All user documents are securely encrypted and deleted immediately after printing.
“PrintWithMe is helping us support our residents as they work from home during COVID-19,” said Alice Tanchel, Managing Director, Resident Experience East at Trammell Crow Residential. “Not only is it self-serve and contactless, but it makes life easier for our property staff nationwide.”
Founded in 1977, TCR has 13 offices across the United States that have provided them the on-the-ground presence needed to deeply understand local market dynamics and resident needs. Their reputation has been built on quality, entrepreneurship, and operational excellence.
“It is an honor to be partnering with Trammell Crow Residential, one of the largest developers of multifamily apartments in the country,” said Joe Summers, PrintWithMe’s Chief Revenue Officer. “We’re thrilled to help their residents access convenient printing, especially as they work remotely during COVID-19.”
About PrintWithMe
PrintWithMe is revolutionizing the $10B personal printing market by placing its self-serve printers in convenient locations nationwide, such as multifamily housing, coffee shops, and more. To date, they’ve helped hundreds of thousands of customers print over 10 million pages across 47 states. www.printwithme.com.
About Trammell Crow Residential
Trammell Crow Residential was founded in 1977 to develop, construct, and acquire multifamily rental and condominium communities. Currently, the company owns nearly 14,000 apartment units nationwide with an additional 9,000 new units planned for construction this year. Trammell Crow Residential is also known for developing Alexan apartment communities nationwide. For more information, please visit TCR.com and alexanapartments.com.
Media Contact
Radhika Sen
radhika.sen@printwithme.com
We're thrilled to announce today our new national partnership with RangeWater Real Estate! We're excited to introduce our PrintWithMe printing service to their 50,000+ multifamily apartment homes nationwide.
Please read below for a reprint of our press release launched on Newswire today:
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CHICAGO, August 25, 2020 (Newswire.com) - PrintWithMe, the Chicago-based company bringing self-service printers to consumers nationwide, announced today a national agreement with RangeWater Real Estate, one of 2020's "Top Developers and Largest Apartment Managers" in the United States according to the National Multifamily Housing Council. RangeWater manages over 50,000 multifamily apartment units across the Southeastern and Southwestern United States.
"We are thrilled to be partnering with RangeWater and extending our printing services to their residents nationwide," said Jonathan Treble, founder and CEO of PrintWithMe. "RangeWater is a premier multifamily real estate company that prioritizes creating best-in-class experiences for its residents."
Founded in 2006, RangeWater's experienced team targets high job growth markets with demand for new housing. The privately-owned firm has offices in Atlanta, Dallas, Denver, and Tampa and is recognized for creating fulfilling experiences for its partners, clients, residents, and employees across the Sun Belt.
"PrintWithMe is a great amenity for multifamily and we are excited to add this service to many of our communities in the near future," says Tracy Bowers, Executive Managing Director of Property Management for RangeWater. "PrintWithMe makes it easy for residents to print high-quality documents whenever they need to. We believe this collaboration will not only delight our residents but further boost our high levels of resident satisfaction."
PrintWithMe is the leading multifamily printer amenity provider in the United States. With over 1,000 partners across 47 states, PrintWithMe offers convenient resident printers that are:
PrintWithMe printers are also increasingly useful for remote workers during COVID-19. Residents can print from any device without touching the printer.
"Now, more than ever, it's critical for apartment communities to assist residents who are working from home," said Karen Key, Senior Director of Property Management for RangeWater. "The PrintWithMe service makes it simple for our residents to print important documents at their convenience outside office hours."
With this announcement, RangeWater will benefit from an elevated printing experience and substantial cost savings. Compared to legacy printing solutions, PrintWithMe typically saves up to $5,000 per property annually.
About PrintWithMe
PrintWithMe is revolutionizing the $10B personal printing market by placing its self-serve printers in convenient locations nationwide, such as multifamily housing, coffee shops, and more. To date, they've helped hundreds of thousands of customers print over 10 million pages across 47 states.
About RangeWater
RangeWater Real Estate is known for acquiring, developing, managing, and investing in best-in-class multifamily communities across the Sun Belt.
Media Contacts
Radhika Sen: radhika.sen@printwithme.com
Dana Pate: dpate@LiveRangeWater.com
2020 hasn't been very fun or funny, to say the least. With budgeting season just around the corner, you might be spending your days with your head buried in spreadsheets. When even your favorite podcasts can't help you get through the numbers, hopefully, these very-relatable multifamily jokes we found on the internet will.
Check out these 10 multifamily memes and jokes to help take your minds off things:
(Source)
Our lives wouldn't be complete without including one (or maybe two) printer jokes.
We hope that you had a good laugh and before you dive straight back to work, don't forget to add PrintWithMe to your 2021 budget for substantial savings to your bottom line! We promise that the last two jokes will be in history with our auto-supply toner shipment and 7-days-a-week customer support.
Interested in learning more about PrintWithMe's all-inclusive printer amenity service? Schedule a call with Kimberly Cameron, our VP of Sales, here, or visit our website for more information.
PrintWithMe Partners: Here are our top 5 recommendations to help your property increase its PrintWithMe printer amenity usage amongst residents.
Does your apartment property have a PrintWithMe printer amenity, but you wish you could promote the amenity better to your residents?
As more residents began working from work since COVID-19, the need for a convenient and secure printer amenity to support the new transition became increasingly crucial. It's more important than ever to help educate your residents about tools that can help them work remotely. This includes co-working spaces, conference rooms, phone booths, etc. -- and especially their PrintWithMe printer.
OR:
Lastly, don't forget to visit our PrintWithMe Partner Resource Center for our full list of tools and resources that can help your property get the most out of our amenity.
We hope each of these tasks helps you and your residents to use PrintWithMe. And don’t forget, our Customer Care team is here for you and your residents seven days a week to help with any of the tasks.
Feel free to contact support@printwithme.com if you or your residents have any questions about printing.
Happy printing!
During COVID-19, many of us are working from our home offices. Here are our top tips to reinvent your new office to better work for you.
The COVID-19 pandemic has completely transformed office culture globally. While many professions still require frontline workers to be onsite, including most healthcare, factory, grocery, and restaurant workers, many other industries have already shifted completely to remote working. These industries even include companies that were traditionally “office-centric” and are now seeing the benefits of a remote workforce.
Employers are not the only ones experiencing and embracing the shift either. According to a Gallup poll, half of Americans who now work remotely said they want to continue doing so even after restrictions on business.
However, as companies allow employees to work remotely (and many have even announced their permanent transition into a remote-first workplace), it is time to invest some thought into reinventing our makeshift home offices.
While home offices of the past might have been a luxury, it’s more important than ever to ensure you have a workplace that helps you to work your best.
Here are a few tips and ideas we put together to help you rethink your workspace at home:
If you live in a metropolitan area, you are most likely to be living or cohabitating in a small apartment or a room. While it might feel impossible to fit a desk into an already-cramped space, there are some creative ways to include a new surface area dedicated to work.
For example, this moveable, window-mounted standing desk by Deskview takes up zero floor space and lets you take advantage of the incredible window view, especially if you live in a high-rise building.
The balance has also put together a list of various types of desks you can consider depending on your living space in this article.
Photo courtesy of Deskview.
If you don’t yet have a designated work area or desk, chances are that your office supplies are also scattered throughout your apartment and you can never find them when you need them. Having things organized within your reach also helps free up headspace so that you can focus on being productive.
To help save you some time, here’s a checklist of Home Office Essentials we put together so that you no longer have to put your meeting on hold as you scramble around to find a piece of paper for notetaking.
You can download the PDF version of this checklist on the PrintWithMe Activity Center which contains many other free printable resources that could help you stay focused and get creative as well.
We seldom consider the environmental footprint we can create when it comes to designing conventional office spaces. Now, we get to be more intentional about curating a workspace at home that is both pleasant and environmentally-conscious.
A few simple ways to make your space greener include:
Today, remote workers are no stranger to video conferencing and Zoom meetings. Most of us did not have a video conferencing background in mind when we move into our current space but the times have changed.
If you’re still taking your meetings with wet towels or a kitchen in your background, here’s a pro tip–buy a portable green screen or simply find a white background and then apply one of these Zoom backgrounds from Unsplash.
Lighting and a quality webcam are key to getting crisp video–a simple selfie ring light like this one and an affordable webcam will definitely help you stand out from the (virtual) crowd in your next webinar.
It is much harder to create separation from work when we are basically living and working from the same environment. However, it is crucial that we create boundaries that minimize distractions when you need to stay focused and encourage us to step away from work when it comes time to relax and play.
While not everyone has the luxury of dedicating a separate room for work, there are many innovative divider ideas to help create those mental boundaries which are equally impactful.
From adding a rug to create separation to repurposing a closet, designing a functional working nook only takes creativity. Check out this article by Apartment Therapy on how to fit your workspace into a small living room.
The remote work culture is only here to stay. We hope that this article can help you make the best out of the new normal and enjoy the flexibility and many other perks that come with it.
Comment below and let us know if you have any tips on how to make your space work!
Invesco Real Estate, one of NMHC's top 50 largest apartment owners in the U.S. in 2020, inks deal with PrintWithMe to bring all-inclusive printing services to their 35,000+ multifamily apartment homes nationwide.
CHICAGO, July 14, 2020 (Newswire.com) - PrintWithMe, the Chicago-based technology company bringing self-serve printers to consumers nationwide, announced today a national agreement with Invesco Real Estate, a global real estate investment manager. In 2020, the National Multifamily Housing Council named Invesco Real Estate number #28 in a list of the top 50 largest apartment owners in the United States.
"At Invesco Real Estate, we wanted a uniform solution for all of our management companies that was CCPA-compliant, budget-friendly, and most of all loved by residents,” said Jonathan Evans, Associate Director of Asset Management at Invesco Real Estate. “With the huge movement to remote working, PrintWithMe has been able to provide an instant work from home amenity."
Invesco Real Estate marks the first national owner group partnership for PrintWithMe, signifying the value they now bring to both owner groups and property managers.
Founded in 2014, PrintWithMe is the leading printer amenity that enables residents to print wirelessly from any digital device. PrintWithMe printers are CCPA-compliant, contactless, and are increasingly in demand from apartment residents who are working from home during the COVID-19 pandemic. According to Colliers, 82% of employees globally hope to work from home at least once a week after COVID-19.
“During COVID-19, it is imperative that apartment residents are able to work comfortably from home with safe access to co-working resources, including a printer,” said Joe Summers, Chief Revenue Officer of PrintWithMe. “We are thrilled to partner with Invesco Real Estate to bring our contactless printers to their units nationwide and offer their residents a best-in-class work-from-home amenity.”
On an annual basis, PrintWithMe typically saves $2,400-$5,000 per property as compared to legacy printing solutions. Through this partnership, Invesco Real Estate properties will not only save money, but they will also be offering their residents an encrypted digital experience that reduces the need for contact with staff. All paper and toner reordering are automated.
Since its founding in 1935, Invesco has grown to over 8,000 employees in 25 countries. Their specialized teams manage investments across a comprehensive range of assets, including real estate and multifamily properties. Invesco focuses on delivering investment experiences that help people get more out of life. As a result, they continue to be recognized for their integrity and personalized results that are highly meaningful for investors, managers, and residents alike.
“It is an honor to be partnering with Invesco Real Estate, one of the most recognizable owner groups with a reputation of integrity and deep caring for those they serve,” said Summers. “We're excited to support their residents, while also generating new efficiencies for their staff and investors.”
About PrintWithMe
PrintWithMe is revolutionizing the $10 billion personal printing market by placing its proprietary mobile printer stations in a wide network of convenient locations, such as multifamily housing, coffee shops, and more. To date, they’ve helped hundreds of thousands of enthusiastic customers print over 10 million pages across 47 states. Learn more at www.printwithme.com.
About Invesco Ltd.
Invesco is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive, and alternative investment capabilities. With offices in 25 countries, Invesco managed $1.1 trillion in assets on behalf of clients worldwide as of March 31, 2020. For more information, visit www.invesco.com.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $75.9 billion in real estate assets under management, 568 employees and 21 regional offices across the U.S., Europe and Asia (as of March 31, 2020). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.
Media Contacts
Radhika Sen radhika.sen@printwithme.com
Lisa Nell lisa.nell@invesco.com
Kenny Nguyen, a Marketing Associate at ZRS Management, shines a light on the company’s dedication to its people-first approach amid uncertainties and the success that follows.
In the midst of a global pandemic, where information and events can change dramatically day-to-day, it can be anxiety-inducing to attempt to predict the future of the multifamily industry.
However, to ZRS Management, a company honored as one of the Top Workplaces by Multifamily Leadership for four years in a row, the only tangible and unfailing solution appears to be more fundamental and closer to heart. Though it may not always be obvious the solution is to treat each other with kindness and compassion.
Today, the world is changing rapidly. There is less space for micro-management but an increased need for trusting leadership. To help demystify this, our team at PrintWithMe virtually interviewed Kenny Nguyen this week, a Marketing Associate at ZRS Management, to learn about the guiding principles the company has put in place to attend to the needs of their employees, renters, and prospects.
While the financial repercussions of the outbreak dominated the news front with overwhelming concerns over rent collections, Nguyen said that their properties are seeing more renewals and more leases being signed in the past weeks.
He attributed the success to the ZRS leasing team’s emphasis on being as human as possible when it comes to virtually walking through the leasing process with prospects with patience and compassion.
“We never really know who our prospective renters might be,” said Nguyen. “So, offering that sense of human touch is really important.”
Instead of relying solely on software and technologies to give tours to prospects, a majority of their leasing consultants are encouraged to take an active role in giving virtual tours via video conferencing.
During each virtual tour, consultants show clients the details of the properties, amenities, and the actual apartment homes, down to the specific details like kitchen finishings. This kind of human interaction is incomparable to simply clicking through a simulated tour, where no questions can be answered.
He also shared a unique story about a leasing consultant’s dedication to helping a couple whose husband is based in Oklahoma and wife in Puerto Rico. The consultant had to navigate through time differences and utilize the proper tools so that they could all view the property together. The consultant handled all questions and concerns flawlessly and was able to successfully encourage the couple to lease an apartment.
Listening is a trait that Nguyen emphasized throughout the interview. “We’re always actively listening,” Nguyen explained when asked what training and support the company is providing to their on-site teams to handle unforeseen scenarios.
“We are always paying attention to what’s going on around us in our landscape and trying to create an ecosystem of communication that is responsive and quicker to implement changes than we used to,” said Nguyen.
He also told us that, since the outbreak, ZRS has been conducting daily updates and weekly briefings with its executives for feedback which had successfully built rapport among the staff.
“This kind of exchange and communication are going to continue running well past COVID-19,” said Nguyen as he spoke about how the regular meetings and teamwork had contributed to the success and the effectiveness of many marketing campaigns since.
It is inherently difficult to foresee a global crisis like what we’re experiencing now. Luckily, for ZRS, the commitment to strong values and building a team of sensible and creative people is at the core of the company.
“We select candidates that have empathy and a sense of urgency for others. These are foundational skills of any ZRS team member, company-wide,” said Nguyen. “In addition, we believe in having great ‘soft skills.’ From their first day and thorough their career, a ZRS associate is taught soft skills such as building rapport and actively listening to expertly handle any situation,” said Nguyen.
Nguyen said that the marketing team at ZRS is aware that every property and every on-site team has their own unique needs. Instead of trying to absorb and relay all the information they could possibly gather, they have stepped up as the facilitator of ideas.
Nguyen said that he is fascinated by the exchange and support he had witnessed among teams. Through an internal communication platform called the “Idea Exchange”, employees from leasing consultants to property managers are encouraged to cultivate creative ideas, share their unique experiences, and voice their concerns.
“We think when the staff is encouraged to collaborate, it helps them connect easier, discuss ideas, and then go from there,” said Nguyen.
Other than encouraging an organic exchange of ideas, Nguyen said that ZRS is also very intentional when it comes to distributing information and knowledge to their leasing consultants. Led by Vice President of Marketing Jeremy Brown, the marketing team began hosting a weekly virtual leasing class for their leasing teams with an objective to discuss topical issues and to provide relevant training and tools.
“The class has become so popular that we’ve had literally hundreds of people tune in on a weekly basis,” Nguyen said with surprising enthusiasm. “So much so that we actually had to set a cap in terms of how many people could attend because it would freeze up the Zoom call itself.”
Photo Courtesy of ZRS Management.
The company has also reinforced their “Open Door Policy” for employees to always feel encouraged to reach out whenever they need to, and look out for each other–whether it is about their job or anything concerning their personal well-being.
A pressing topic Nguyen and his team had observed prompted them to rethink the importance of ownership over ideas and creativity: How can we create a sense of community when we are not physically present with the residents?
To tie it back to the emphasis on creating a genuine human connection with everyone, ZRS is impressed by the creative ideas and over-the-top community-building efforts that came from individuals from each property who know their residents best.
“The resident ideas that our teams have come up with are outstanding,” Nguyen said as he applauded the on-site teams for the thoughtful and wide-ranged initiatives they’ve implemented, from virtual events such as cooking challenges to pool-side concerts and sending personalized, uplifting videos to residents. He also said that he was surprised at the popularity of virtual bingo, and how some properties created ceremonies for recent high school and college graduates.
Some property managers had gone above and beyond to send customized gifts to celebrate significant milestones with their residents who are welcoming a newborn or adopting a new pet.
Photo Courtesy of Grand Central Apartments.
“In a time like now, it is so important to create a sense of bond, that the apartments aren’t just a place where you live; it is a community made of people and local organizations you want to spend time with,” Nguyen said.
Although their reopening strategy remains fluid due to the unclear circumstances of the pandemic itself, the health and well-being of their employees and their renters are the priority.
Nguyen said that ZRS is doing everything they can, such as keeping up with state guidelines, communicating directly with transparency, and providing all the resources and protective equipment education their staff may need. However, they always stay true to their people-first philosophy and he reassured that ZRS is overly passionate for their employee’s well-being.
Special thank you to Kenny Nguyen for sharing his insights from ZRS on the multifamily industry during COVID-19.
To learn more about ZRS, visit them online at www.zrsmanagement.com.