Here are 5 ways to increase your multifamily property's ORA™ score and improve online reputation, drawing prospects to your community right away.
According to JTurner Research, 75% of prospects look at online ratings multiple times in the apartment search process and 70% of prospects will choose to visit a property with a better online reputation.
ORA™ score (Online Reputation Assessment) was created by JTurner in order to compile online property ratings across more than 20 review sites into one simple score. Each month, JTurner uses a statistical model to aggregate online reviews and create a score for each property based on a scale of 0 to 100. This score allows property management companies to compare themselves with competitors and evaluate different properties within their own portfolio.
Turner Research tracks the online ratings of more than 71,000 properties in the U.S. with nearly 5 million total reviews. Each year, properties compete for spots on the ORAORA™ Elite 1% Power Rankings to be named as one of the top properties in the whole country for online ratings by residents.
Here's how #PropertyManagers can increase their ORA™ and gain national recognition:
Stephanie Williams, President of Bozzuto Management Company.
The best online reputation strategy begins with creating wonderful experiences for residents. Successful property management companies hire people who can provide customer service that is unmatched.
Stephanie Williams, President of Bozzuto Management Company, oversees a portfolio of more than 215 properties and has helped Bozzuto earn its spot as The #1 Management Company for Online Reputation - five years in a row.
Williams believes that there's no substitute for good service and that the people her team hires make all the difference. In an interview with JTurner, she shares some of her secrets to a stellar online reputation:
"We start with our hiring process. Since our reputation is earned through the everyday experience we provide, we ensure that we hire people who will best represent our brand every day. This means they shared our brand’s values and use them to govern their decision-making as they serve our customers."
Williams knows that the best way to improve online reputation is by making sure that residents are happy in their homes. She focuses on building a strong legacy of meaningful service and experiences for residents in Bozzuto communities. Providing incentives for positive reviews won't help her company in the long run, so Williams focuses on the fundamentals.
The Retreat at Trinity Apartments, an ORA Elite 1% property managed by Greystar.
After property management teams focus on delivering meaningful service to their residents, they'll need to start asking for reviews.
Exceptional service offers a great opportunity for staff to ask residents for honest feedback and see if they're open to posting an online review about their experience. It's helpful to get the whole team involved in asking residents for reviews, maintenance staff can help too.
According to JTurner's Mechanics of Online Review Sites and ILSs, the majority of apartment hunters (72%) consider a property with 450+ positive reviews as more credible than a property with less than 160 reviews. Prospects are more likely to visit a property with a higher number of reviews, so management teams should be actively seeking reviews as often as possible.
That being said, communities shouldn't solicit reviews for gifts, drawings, or other incentives. If reviews are earned this way, it's likely that someone may uncover these practices and expose the property online – reducing credibility in the long run. Asking for honest feedback or writing sincere thank you notes to residents should be enough.
No property is perfect, and it's inevitable that there will be a time when a resident's experience is less than ideal. Think noisy neighbors, maintenance issues, smoking complaints, etc.
The best thing that a management team can do is to create an 'Open Door Policy' and stick to it.
That means responding to complaints promptly via email and inviting residents to come into the office to talk about their concerns. Property managers should remain available and engaged with their residents when issues arise.
Residents are more likely to have a positive opinion of their property management team when they feel like their concerns are being heard. Some companies have online portals such as Bozzuto Listens, that allow residents to submit their concerns privately 24/7, so that management is notified right away. Staff members are given a chance to proactively find a solution to the problem before the issue is publicized online.
SkyGarden, an ORA Elite 1% property in Charleston, SC managed by Cardinal Group.
Even with these measures in place, it's nearly impossible to run a property without one or two negative reviews being posted over time.
Property staff should respond to all reviews quickly and with care. It helps to explain what steps will be taken to resolve the issue in the review and what steps have already been taken to prevent the issue from escalating.
This allows the resident who wrote the review to feel respected, knowing that their concern is being addressed, and it makes the management team seem more responsive to prospects who are reading online reviews without full context.
JTurner considers ratings from over 20 different review sites when calculating a property's ORA score.
When it comes to the many online review sites, it's difficult to choose which to focus on. According to research published by JTurner, the top platforms in regards to a prospect's decision to rent include Google, Apartments.com, and ApartmentRatings.com.
Renters also consider reviews from
Facebook and other sites during their search, but generally believe that reviews posted on independent review sites are more credible than reviews posted on property websites or Facebook.
JTurner found Google to be the most impactful site on a prospect’s decision to rent at a property. While JTurner does not release their exact algorithm to compute ORA™ scores, it's a possibility that they may weight Google reviews more heavily than reviews on other platforms because of their increased impact.
When a prospect searches for a property, its Google reviews are showcased on the search engine right away – making them nearly impossible to miss. Property staff should take this into account when asking for resident feedback on different review platforms.
That concludes the top 5 tips for improving your property's #ORA™ Score. Take a look at more resources from JTurner here to view FAQs, best practices, and more information about ORA™ Scores and #multifamily online reputation.
These are the top 3 reasons that multifamily developers should pursue LEED Certification and implement green building features in their multifamily properties.
LEED, or Leadership in Energy and Environmental Design, is a green certification program for building design, construction, and maintenance. LEED certification is increasingly sought after by developers across all different industries. Currently there are more than 90,000 certified LEED projects in 167 countries around the world.
In order to obtain LEED Certification, projects earn points based on their ability to implement green building features relating to Location & Transportation, Sustainable Sites, Water Efficiency, Energy & Atmosphere, Indoor Environmental Quality, and more.
These are the top 3 reasons developers should invest in green building and consider LEED certification for their multifamily properties:
Once a multifamily apartment property earns LEED Certification, there's instant brand recognition that helps establish the community as part of a network of leaders in #greenbuilding.
According to AMLI Residential's third annual Sustainable Living Index of over 3,500 residents, nearly 89% of AMLI residents are concerned about climate change and more than 61% of residents said they would be willing to pay more to live in a sustainable community.
As renters become more interested in environmental issues, the demand for sustainable living options continue to rise. LEED Certified properties lease-up as much as 20% faster than buildings that aren't certified. Newer generations of renters are taking green building features into consideration before signing leases and multifamily developers will benefit immensely from going green.
Multifamily properties benefit from green building right away as buildings typically lease-up faster, but benefits also continue well into the future.
Amenity floor at OneEleven – A LEED Gold Certified building managed by Bozzuto.
Green features can increase property value significantly, and LEED Certified buildings generate a 10 percent or greater increase in asset value as compared to average.
Profitability doesn’t stop there. Green properties also generate higher long-term ROI through increased rental income and lower operational costs.
A report on the Los Angeles rental market found that traditional buildings received rental income at an average of $2.16 per sq. ft, while tenants were willing to pay $2.91 per sq. ft for spaces that were LEED certified. That's nearly a 35% increase in rent income each month.
Additionally, LEED buildings have reported lower day-to-day costs. Reported maintenance costs are nearly 20% lower for green buildings on average, and green building retrofits typically decrease operation costs by about 10% in just one year.
The Winter Garden at Essex on the Park
Benefits of green building extend much further than just increased income for the property itself. Green features affect the health and well-being of residents too.
According to the USGBC Standard Issue report, nearly a third of those surveyed indicated they have direct, personal experience with bad health associated with poor environments or living situations. Americans spend approximately 90 percent of their time indoors, so the connection between green buildings and personal health is important to keep researching.
Essex on the Park is a brand new 56-story high rise in Chicago's South Loop neighborhood that was designed with wellness in mind. The multifamily development features a four story Winter Garden filled with greenery that overlooks Lake Michigan. A guided meditation app is being developed for use specifically in the Winter Garden with aim to create sanctuary for residents.
“The whole green trend in terms of energy efficiency started quite a while back, but that trend has evolved into more of a wellness/health kind of relaxation piece,” says architect, Paul Alessandro in an interview with the Chicago Tribune. “The inclusion of these green interior spaces is an outgrowth of that continuum of design bringing health and wellness into a building.”
The developers of Essex on the Park pursued WELL certification rather than LEED Certification. WELL certification focuses more directly on health and wellbeing for residents, taking in to consideration categories such as air, water, nourishment, light, fitness, comfort and mind.
Multifamily developers have begun to implement green features and amenities as younger renters are increasingly focused on wellness, self-care, and reducing stress.
Popular examples include The Roof Crop, a company implements green roof systems to responsibly grow produce used for resident events, and PrintWithMe, a self service cloud printer that makes printing convenient for residents and reduces 550 pounds of individual electronic waste annually at each community.
The #GreenMovement won't be going away anytime soon, so many multifamily developers have begun to invest considerable resources into making their buildings more environmentally conscious and wellness focused.
That summarizes top 3 reasons that multifamily developers should invest in green building features and LEED Certification! Head to the U.S. Green Building Council's website to learn more.
Here are the top 3 takeaways for property managers from ZED 2019, which highlighted the latest apartment amenities and strategies.
Jeremy Brown, Vice President of Marketing at ZRS Management and keynote speaker, Veronica Romney.
Every year, ZRS Management holds their ZRS Education & Discovery Conference (ZED 2019) that features the newest and most innovative technology-driven amenities and marketing strategies in the multifamily apartment industry. Last week's conference in Miami saw dozens of apartment vendors showcasing the latest multifamily apartment amenities, technologies and strategies to grow business in 2019 and beyond.
Here are the top 3 takeaways for property managers in 2019...
Joe Summers, CRO and Kimberly Cameron, VP of Sales at tech vendor, PrintWithMe.
The apartment industry contributes $3.5 billion daily and $1.3 trillion yearly to annual GDP, according to a study published in 2013 the NMHC and NAA.
The industry has continued to grow rapidly in recent years, so there’s plenty of opportunity for property management companies to capitalize on the market – but there’s also lots of competition.
According to a 2019 NMHC report, the top 50 property management companies, such as Greystar, Bozzuto, and ZRS Management control 15.9% of the multifamily market.
What do these big players do differently? They continue to invest in technology.
“We invest a lot in technology," says Jeremy Brown, Vice President of ZRS Management in an interview with Business View Magazine. "We educate all of our folks on the latest and greatest mobile applications, industry trends, etc. It’s an opportunity to reinforce our stance on technology and educate our folks that this is in the forefront of everything.”
The ZRS Technology Conference was founded to educate company managers, leasing people, and the entire corporate team on the importance of technology in areas such as online leasing, smart amenities, and marketing strategies. The company flew approximately 500 people to Miami to expose employees to top multifamily tech vendors including, Respage, Iotas , PrintWithMe, and Modern Message.
Property managers looking to stay ahead of the competition should continually stay up-to-date on the latest technologies that improve property management and resident experiences, including smart home technologies, new property management mobile apps, tech-based lifestyle amenities (like Peloton), and more.
Members of Generation Z make up the largest generation at 27% of U.S. population, and they have grown up with technology at their finger tips. The oldest members of Generation Z are turning 22 this year and have graduated college or skipped it entirely and they are looking to rent their first modern and convenient apartments.
Gen Z relies much more heavily on social media and online searches for their apartment search than previous generations. The average attention span of a Gen Zer is 8 seconds, so property management companies must market to Gen Z with interactive online leasing tools and custom virtual tours in order to stand out among the sea of apartment listings.
With access to more online resources and information about the rental scene, Generation Z will refuse to pay more for apartments without up-to-date amenities including smart home systems and time saving services such as cloud printing and quick drop-off dry cleaning lockers.
Property management companies will have to appeal to the needs of Gen Z'ers if they plan to grow within the next 5-10 years.
Are you a property manager based out of Florida? If yes, then you should definitely be aware of the "Florida Man". If you aren't familiar with the Florida Man, you can read up on it here. Essentially, make sure your new tenants don't meet the 'craziness'-levels that can often be spotted in news headlines about Florida.
One of the biggest highlights at this year's ZRS Education & Discovery conference was the #FloridaManChallenge.
Check out some #FloridaManChallenge pictures from the event here. Photos courtesy are courtesy of Downtown Photo.
That wraps up the top three takeaways from this year's ZED conference. We hope these notes can help to plan for future property management and resident acquisition strategies, and we hope to see you at ZED 2020!
Here are the top four resident amenities that property staff should consider from this year's annual ZRS Education & Discovery (ZED) conference in Miami.
Sonia Dara from Microsoft Unboxed speaking at the 2019 ZRS Technology Conference.
Dozens of apartment vendors attended the ZRS Education & Discovery Conference (ZED 2019) in Miami, Florida this month to showcase to cutting edge multifamily technologies, new apartment amenities and marketing strategies. Hosted annually by ZRS Management, the conference provided an intimate, poster-free opportunity for property staff from around the country to learn about emerging amenities that can help boost rentals and resident satisfaction.
Here are the top four new apartment amenities that our staff took note of at ZED 2019. These are amenities that all multifamily property staff should consider for residents that expect the highest in customer service and convenience:
Iotas | Smart homes for today's renters
Iotas takes smart home technology to a new level. Their smart home features include motion sensors, voice activation, and an all-in-one application that can control temperature, lighting, door locks, and outlets. Devices can be installed before move-in, so that renters can utilize it them right away.
Renters are able to log into the Iotas app to see their individual floor plan and select from preset stories including 'Good Morning', "Out for the Day', among others. Iotas analyzes each renter's routine based on their motion and behavior in order to create the perfect home environment.
Spruce frees up time for residents by offering services like managing chores, housekeeping, pet care, laundry and dry cleaning. No task is too small for Spruce and residents can have their dishes washed, plants watered, and sheets changed without lifting a finger.
Spruce is a great tool for busy professionals to relieve stress and enjoy their downtime. Property managers seeking luxury amenities for their residents should take a look at Spruce.
TFLiving | On Demand Experiences
TFLiving offers an amenity-based app that provides on-demand wellness experiences for residents. Services include personal training, pet care and social events, including cooking classes, happy hours, and paint & sip nights.
Resident events are often great ways for residents to meet one another, but they require lots of planning. TFLiving also relieves property managers of the stress of planning and coordinating resident events and improves residents experiences at their properties to increase renter retention.
PrintWithMe | Improving Multifamily Technology
PrintWithMe is a modern, self-service print station that auto-orders toner and paper. PrintWithMe printers can be placed in amenity spaces for residents to use at all times. Property managers are able to set monthly caps on free printing to save on expenses and residents enjoy the ability to print wirelessly from the PrintWithMe app or their own devices.
One of the greatest features about PrintWithMe is the amount of time that property managers can save with the service. The PrintWithMe printer amenity offers live customer service 7 days a week, so managers can focus on other priorities besides printing problems.
In sum, these four new amenities from ZED 2019 should help any apartment complex to drive new revenue and exceed the expectations of residents. Best of luck with the ongoing #amenitywars and hope to see you at ZED 2020!
From accounting to maintenance, and everything in between, here are the best mobile apps for property managers in 2019.
It's no doubt that time is one of the hardest things to manage as a property manager or an owner. Instead of resolving complexities and keeping track of all details on your own, leveraging modern technology will not only save time and resources, but also provide a better experience for residents and staff alike.
Without further ado, here are the top property management software apps in 2019 that will provide you and your property staff with the flexibility and solutions you need to continue exceeding resident expectations.
It all starts with your listing. Platforms and apps such as Zillow, Trulia, Apartments.com, and Landlordy all offer a comprehensive database where you can list and manage all your properties and communicate with prospects more effectively. These apartment listing platforms use innovative technology to provide deep insights and connect
optimal tenants to property owners and managers.
Instead of keeping track of all transactions and posting them to your ledger manually, you can rely on these #fintech apps to manage everything in a single platform with ease. Apps such as Buildium, Rent Manager, and PropertyMe streamline financials with integrated accounting to manage banking, invoices, bulk disbursements, and more to support property manager needs. Although these apps are primarily focused on your accounting needs, they offer plenty of other features as well.
Take advantage of modern technology to ensure that your tenants and their valuables are safe and sound. Apps like Frontsteps provide security solutions with visitor management, access control, and telephone entry for a complete peace of mind. Meanwhile, apps such as Amazon Key allow keyless and secure entry that allows for convenient and safe delivery of packages.
Platforms such as Mobile Doorman allow for customized, mobile apps to communicate with residents. The platform is also able to integrate with other property management software to keep things simple. Other apps include Appfolio, Propertyware, Entrata, Yardi, and ManageCasa, which offer a little bit of everything. You can attract optimal tenants, automate certain processes, gain important insights and business metrics, track maintenance, communicate with residents, owners, and vendors, and more. These apps provide all you need to keep everything running smoothly, all in one place.
Today’s best software doesn’t just stop there -- you can innovate your amenities, too. From the perfect modern all-in-one cloud printer in your productivity / co-working center, to smart home add-ons from the likes of August, Nest, and Igor, these software companies will take a thing or two off your plate so you can continue to focus on other management needs. Amenity aggregators such as Bixby and Hello Alfred will make using amenities convenient on your residents’ side as well.
Managing a property via software combines technology and service to produce amazing results in 2019. Not only will these automations and organizational tools save you time and energy, but property staff will also be more closely connected with residents and improve ROI and retention over time.
Ask not what your renters can do for you, but what you can do for them.
Successful property managers and owners understand the importance of not only finding optimal prospects, but also keeping the best renters in their communities. The key here is to minimize low-quality leads and maximize high-quality leads to avoid high turnover costs and other expenses.
But how do you find these perfect renters and get them to stay? Well, you’re in luck!
Here are the top 5 ways to showcase your property’s best features and get your optimal prospect to become one of your loyal long-term renters:
Online tools are the #1 way that renters find a new home. Good online presence is a must -- from your listings on Trulia, Zillow, Apartments.com and the like, to your social media platforms such as Facebook, Instagram, and Pinterest -- make sure that all your posts showcase your unit’s amazing features and amenities using HD professional photos and clear descriptions of the community. To kick it up a notch, try 360° panoramic images and videos for virtual tours on your listings and social media posts. The more creative, interactive, and informative your posts are, the higher engagement they get, which can build credibility and pique interest for prospects.
Printing is still relevant in the digital age! In fact, studies show that 55% of customers perceived print marketing as the most trustworthy amongst other avenues of marketing, and 82% of internet users trust print advertising when making a purchasing decision. Take advantage of the low competition for print ads and create newspaper ads, stand-out flyers, and other tangibles. Maximize exposure by printing and dropping off print ads at local businesses in target locations (with permission, of course). The studies also note that brochures, along with maps and travel guides, are the #1 in-market influence, so make sure to include brochures of your property at locations as well.
The next generation of renters want more connectivity and flexibility. To attract and retain these high-quality prospects, consider popular luxury amenities such as pet parks, 24-hour fitness centers, productivity / co-working centers with all-in-one printers, smart home tech, etc. Keeping in mind the sociability and flexibility that your new tech-savvy renters want, also consider high-speed tech, rooftop areas, and other community areas for your tenants to feel at home in your property. It's all about amenities that add value to renters' lives, which brings us to our next point!
Renters today value technology more than other traditional apartment amenities, so highlight how your property’s high-tech can make life more convenient for them, whether it’s a paperless leasing process and online rent payment, or smart home tech that has keyless locks, automatic lighting, and added security.
That being said, the power of in-person marketing should not be neglected. 85% of recipients of promotional products go on to do business with the advertiser, so move-in checklists at open house, small goodie bags, care packages, etc. are all great treats for potential renters. If it’s really good, they might even post it on social media -- free marketing for you!
Don’t forget to keep adding value even after leasers sign. Continue building great relationships and make sure your tenants are engaged and happy. Resident holiday events, free grab-n-go breakfast once a month, Taco Tuesdays -- the possibilities are endless!
To show your appreciation for long-time tenants, give them goodie boxes or gift cards to local restaurants to celebrate their anniversary and loyalty to your property.
A little recognition goes a long way in increasing retention! A great relationship with your high-quality tenants can make them advocates for your property. You can even take the opportunity to implement a referral program and publicize it to your tenants. With a good relationship, they’ll be more willing to tell their friends about the great experiences they’ve had at this property, and give a more genuine recommendation and testimonial.
Building good rapport and establishing trust and credibility in relationships with your renters will take a lot of time and effort from property staff. However, it comes with great benefits and is the best way of not only attracting high-quality prospects, but keeping them as long-term advocates of your property.
Here are some notes for Property Managers to keep in mind to ensure every resident’s leasing experience is above and beyond expectations.
Great -- you’ve found a quality resident prospect for your apartment! Now what?
Renters today expect a seamless leasing experience, aided by new technology, and these expectations are always evolving. To stand out amongst a sea of properties, there’s no doubt that apartment communities should strive to provide renters with an excellent leasing experience to seal the deal on their new home.
Here’s a few areas to keep in mind during the leasing process:
With the power of the world wide web, prospects nowadays no longer need to reach out to leasing representatives for basic unit information. Most of their research is done online, with over 90% of people looking for housing searching online first and over 60% searching on mobile.
That means your listings should be able to tell a story. To do this, make sure your units are listed to showcase the various highlights of your property. For example, do your listings have professional, high-quality photos of the unit with vivid descriptions? Are there clear floor plans with virtual tour walkthroughs? Are all your great amenities and features listed?
Don’t forget to provide a seamless web and mobile experience for these online users as well, with a well-designed website and easily accessible contact information.
When your prospects are browsing properties to rent, they’re not just looking for a place to live -- they’re looking for a home. You may be tempted to jump the gun to get them to sign, but today’s renters want to know what you can do for them, and what your property can provide. Make sure your leasing agents answer all of your prospect’s questions first before jumping in with when they can move in or what their budget is, and don’t forget to provide authentic, natural conversation to help your prospects feel welcomed.
Remember: Don’t show them a floor plan, show them their next home. Don't show them a building, show them their neighborhood and future lifestyle. Why say you have a dog park when you can show them how your apartment community is pet-friendly with treats and water bowls abound, with a large, grassy area to make their furry friends feel at home, too? When it comes to the leasing process, show, don't tell.
The multifamily property manager should continually optimize their current renting strategies in order to better align with consumers’ evolving needs and expectations for convenience. Whether it’s booking an airplane ticket, shopping for products online, or scheduling a dentist appointment, every user wants a seamless experience. Apartment communities can now use current technology to address the pain points of modern renters, making the leasing process as simple as possible.
This can range from creating robust and detailed listings online, to ensuring that leasing agents are easily accessible across multiple channels of communication - including online chat and social media. Or better yet, you can even automate certain processes for added convenience, such as online lease signing and self-serve tour scheduling. Using an automated tour calendar, apartment shoppers can immediately choose an available time to see your property - instead of needless back-and-forth with an agent.
To prospects, the leasing process can be indicative of how their rental experience will be. A great leasing experience doesn’t just end as soon as your new tenant signs. How easily and quickly they can contact and engage with a leasing agent shows how they can count on property staff to be easily accessible and prompt in responding to issues they may have down the line. A modern, paperless leasing process shows that other tasks such as paying rent or putting in a maintenance request can be done with ease as well.
It is crucial that prospects’ needs and expectations are not only met, but exceeded. Drawing in high-quality tenants means going above and beyond to provide the best experience and leaving a positive lasting impression with the leasing process.
With the abundance of new technologies, here are 5 tech amenity trends for residents that all savvy Property Managers should know about.
In 2019, Property Managers in the multifamily apartment industry are continually striving to exceed the constant needs of residents. With the #amenitywars still raging, it's no surprise that residents have more amenity options than ever before - and it's the amenities that offer technological convenience that truly make an impact on their long-term decisions on where to live.
In order to balance time, tenants, and revenue for successful property management, there are a few #proptech trends that all Property Managers should know.
One of the main goals for property managers is creating a seamless and convenient lifestyle for residents. Smart home technology are perfect amenities to add to your property to increase ROI and tenant retention for exactly that purpose: added convenience. Smart amenities include smart locks (ex: Latch), smart thermostats (ex: Google Nest), smart lighting and security (ex: LittleBird), and smart package drop-offs (ex: Amazon Key). Whether it’s the utilities savings from smart home lighting and thermostats, or the efficiency of keyless smart lock entry, 86% of tenants are willing to pay more for automated smart home technology. Smart home technology can also improve security, allowing property managers to track whenever individuals come in or out of the building, or storing resident packages in smart lockers to prevent theft.
There is an abundance of new resident service automation technology for everything from accounting (ex: Buildium), rent payments (ex: Rentroom and Innango) to tenant screening (ex: Cozy) and maintenance services (ex: PropertyMeld). Autonomous smart property systems can syndicate all your property listings, automate the renewal process, and send out information or respond to requests from tenants and property staff, logging this information into a database and even providing property analytics on where to improve. Meanwhile, the latest #fintech can process payments, automate late fees, and post all transactions to your ledger so your staff no longer has to manually input all this data.
It’s all about mobile in 2019, where apps provide the connectivity and convenience that residents desire. Technology also makes it easier for property managers and staff to organize electronic communication flows with residents whenever issues arise. With great mobile apps like Landlordy, Zillow Rental Manager, and Landlord Studio, Property managers can even utilize push notifications to alert residents of events or other important information with a single click of a button. On the other hand, tenants now have a community hub to advise property managers of immediate problems, make rent payments, extend leases, track packages, and even print, all from their mobile phone.
New advances in technology allow property managers and owners to take proactive approaches in streamlining management processes. AI and machine learning can use special algorithms to identify, reach out to, and screen optimal prospective tenants. It can also connect existing residents and property staff using chatbots and other devices such as Alexa or Google Home. An AI-powered service can alert property staff of maintenance issues before they even happen by measuring the life cycle of appliances and determining time frames when issues are likely to occur. That way, property managers and staff know what to expect and when, so they can always be on top of their game.
Today everyone is moving to internet cloud databases to collect and store all their information. All documents, payments, maintenance requests, and everything in between lives in the cloud and can be referenced by anyone in the company with a single click. Private information can also be encrypted for security purposes so sensitive data does not fall into the wrong hands.
Switching to electronic documents - including lease forms, building informational guides, and rent payments - means no more wasting time coordinating schedules to meet and sign leases in person, or keeping track of mountains of crumpled receipts. In the times you do need physical documents, take advantage of a modern cloud printer to print your documents securely and with convenience.
At the end of the day, every property manager wants to focus on creating the best experience for their residents, juggling dozens of other tasks and administrative work to make that happen. Technology makes everything a little easier, so that your property staff can find quality prospects, reduce time waste, improve communication with tenants, and maintain positive cash flow.
Offering a printer amenity is a simple way to delight residents that need to print.
As the scramble to attract and retain renters grows more competitive than ever, multifamily property owners and managers across the country must continue to innovate for premium apartment living. Pools, fitness centers, and pet-friendly community features have become the most popular and common apartment essentials. But here is one more amenity essential that you can’t afford to skip out on: a printer.
Yep, you heard that right. A new survey suggests that what residents really value and are willing to shell out their dollars for are technology amenities, so let’s start with one of the basics.
Even with the growing presence of digital communications, printing is not a thing of the past. In fact, 82% of residents still need to print at least once a year.* This is because when residents are printing, it’s something important. From the resumé for a life-changing job interview, to return labels, medical records, tax files, even presentation slides for a big company client, there are many reasons to print. Be there for your residents when they need it the most; it’s in these moments of need that apartment amenities can truly delight your residents and make them advocates for your properties' services.
Skip the headaches and outsource your printing so tenants can print with ease and your staff can focus on all the things that matter.
Overall, you want to provide residents with a great wireless experience that helps them feel at home where they live. But it’s more than just a wireless connection. According to Comcast's multifamily division survey, 89% of property managers and developers cite technology as an important factor in a renters’ decision to sign or renew a lease, and 82% of building managers install the latest technology in order to “future proof” their buildings.
A printer may seem like a small thing to consider, but it’s a piece of the bigger puzzle in adding value and increasing resident retention and ROI.
Business centers are gaining popularity, ranking #2 most desired community amenity. More people are working from home (WFH) than ever, so it’s time to revamp business centers into welcoming co-working spaces with all the essentials for comfort. From new computers with top-speed wifi, to private conference rooms and espresso bars, your residents will love working all day in your enhanced business center / co-working space.
Other business center items to include are paper shredders, staplers, and a top-of-the-line printer amenity that offers scanning, copying, and faxing too.
Having a community printer can save up to 550 lbs of individual electronic waste and 4750 kW of energy per year.* Instead of every resident buying their own printer, paper, and toner, your apartment has the opportunity to service everyone’s printing needs and cut down significantly on individual electronic and paper waste. The new sharing economy is helping all of us lead more sustainable lives, including Ubers, AirBnbs, and PrintWithMe.
Your apartment can participate in this green and efficient movement as well by installing a shared printer amenity. Not only will you be contributing to a more sustainable business practice, but you’ll also appeal to the more environmentally-conscious Millennials and Gen Zs.
Every second matters when you’re managing a property. A printer amenity relieves property staff of the time it takes to print out residents’ documents by directing residents to their own self-serve printer. Residents can print at their own convenience without a need for on-site staff to answer questions.
Additionally, with a printer amenity, your staff is notified when toner or paper runs low so there’s one less thing to keep track of, and all issues are handled by your printer amenity provider. This leaves your staff with more time to handle all the other things on their to-do lists.
In sum, there are many fantastic reasons why something simple like a new printer amenity can absolutely delight your residents!
As you plan to research different printer providers, make sure to keep data security and document privacy in mind. You would not want residents’ confidential printed documents to be easily accessible to others. To avoid this, make sure to choose a printer amenity provider, like PrintWithMe, that ensures data encryption and the option of ‘secure release printing’, where the residents’ document will only print when they are at the printer.
For more information on how to get the ultimate printing amenity for your multifamily property, get in touch with PrintWithMe today.
*Results from PrintWithMe's internal research.
These 5 Denverite facts will change the way you explore NAA Apartmentalize 2019, and any conference in the future.
Technology dominates all topics surfacing from the multifamily industry and it will certainly take centerstage at the upcoming NAA Apartmentalize 2019 Expo too.
Here at PrintWithMe, we have set our visions on streamlining and automating processes using technology so that property managers can spend less time running a print shop and reinvest those time in speaking to the needs of their very own unique community.
As much as we care about efficient technology, our team also deeply cares about serving our communities and giving back to others. We think about how we can help others in every aspect of our day-to-day work.
To do that, we first have to understand the community we aim to serve. To help NAA visitors gets to know Denver a bit better, PrintWithMe has put together a research piece to help us learn about the Denver community we are about to be in when we make our way to NAA 2019 (in two weeks!).
In a study conducted by the Colorado Business Committee for the Arts, nearly two billion dollars were generated by metro Denver art, cultural and scientific organizations in 2013. This comes to show that when you find joy in doing the things you put your hands on, it flourishes.
Trade shows and expositions can be dreadfully long, and exhausting if you’re not injecting the fun into it. PrintWithMe took this finding to heart and we’ve made it a goal to help all NAA attendees create those fun moments.
Check out our hilarious “Office-themed” photo booth with your friends and capture your happy NAA times at Booth #2034!
A study in 2016 done by the Colorado Public Interest Research Group (CoPIRG) and Eco-Cycle shows that Denver’s recycling rate at 12% falls well below the national averages at 35%. One of the reasons Denver isn’t on par for their recycling efforts is because the city currently does not require that apartment complexes with seven apartments or more provide convenient recycling services to their residents.
This is something we can all take into our own hands! This year at NAA, make sure you keep a lookout on exhibitors that are there to provide sustainability solutions such as CheckSammy that makes it easy for residents to trade in their used items.
PrintWithMe has also recently just launched our Green Policy where we are committed to providing paper recycling resources to all of our partners upon request to encourage responsible printing in every community.
The Mile High City earned its name because it sits at an elevation of exactly one mile above sea level. Higher altitude also means bluer skies, warmer sunshine and drier air, something Denverites wear with great pride but might be a challenge to those coming from lower altitudes.
As a reminder, be sure to hydrate to avoid headaches and help your body adapt to the mountain air of the region. If you’re enjoying the Denver’s craft beer scene, know that the rarified air make alcoholic drinks pack more of a punch than at sea level, so drink responsibly!
The home to Coors and thousands of other microbreweries such as Prost Brewing and 14er Brewing Company, don’t expect to find Bud Light on tap when you’re out at a bar in Denver.
Take this chance to explore the local brewery scenes in Denver using this guide. We’d even suggest you to take it one step further by setting up meetings at a nearby brewery instead of the hotel lobby or a conference room.
Denver grew by 30% in the 1990s - an average of 1,000 new residents a week, every week for 10 years. Its diversity brings colorful personalities to neighborhoods like the RiNo Art District where creatives from all around the world reside and made Denver the thriving city as it is today.
Tens and thousands of us travel across the country to gather at NAA. We’d like you to see it as an opportunity to learn from someone of a different ethnicity, educational background, and professional experience. You will find out one of the PrintWithMe team members actually sings acapella!
We can’t wait to see you soon in amazing Denver, Colorado. Meet the PrintWithMe team at booth #2034 at NAA 2019. See you there!