For the past few years, the global real estate industry focused on marketing to one target audience: millennials. But as technology develops, we have an entire generation having a different set of requirements. Gen Z renters are digital natives who haven’t lived without the internet. As the oldest o...
Multifamily apartments have a high number of visitors and tenants, making building security not an added feature, but a priority. With burglaries and crimes on the rise, more tenants are looking for properties that have added safety measures. An Assurant survey found that nearly 54% of ten...
It is no secret that people spend most of their time glued to their smartphones. In the real estate industry itself, 44% of residents won’t rent an apartment without a reliable cell phone connection. In today’s age of convenience and mobility, tenants need more than just traditional proper...
Collecting rent is one of the most problematic parts of being a property manager. More than 20% of renters in America are nearly 4 months behind on their rent payments. That is $5600 worth of rent per delinquent tenant.
Traditional payment methods do little to solve this p...
Tired of all the tenants moving out? Well, you are not alone! Tenant turnover is the second biggest problem faced by property managers, preceded only by tenant evictions. In 2018 alone, the National Apartment Association reported a 46.8% tenant turnover rate in the U.S. While it ...
The Covid-19 pandemic disrupted multifamily fundamentals in unprecedented ways. While the industry made several short-term changes, the impact of the pandemic isn’t limited to a certain time. According to The Business Research Company, the global real estate market is expected to grow to $4.6 trilli...
Technology has become inevitable to keep up with the pandemic norms for the real estate industry. However, contactless technology serves more purpose than just minimizing physical contact. Property managers discovered that contactless technology was more convenient as opposed to traditional property...
According to a global tenant survey, tenants rated building management the highest among technology services and physical amenities for better tenant satisfaction. Tenants look for better management above accessible amenities and convenient leasing experiences. If you are falling behind, you...
Keeping your tenant happy is an unending task, but it's the most important step in your real estate business to succeed. While there are many ways to achieve tenant satisfaction, implementing a tenant portal is something you don’t want to miss out on.
Automating and digitizing some o...
Only 5% of companies that achieve revenue goals generate more than 2500 leads per month, and if you’re struggling to increase lead conversions, you may have to change your strategies.
If you haven’t been getting more leads in a month, implement certain strategies and keep a close track of...
Everybody likes a well-maintained property. For property managers, that leads to tenant satisfaction and tenant retention. A survey by Avail states the same - 12% of tenants planned to vacate rather than renewing their term if the property was not well-maintained. ...
Renting out properties can be a tough job. From having to interview tenants, provide maintenance, manage accounts, and solve tenant problems, the list goes on. Whether it is noise complaints, damaging items, or constantly being notified about minor problems, these tenants ca...
Want to create listings that attract more tenants? In today’s tech-savvy world, more than 50% of buyers look for homes on the internet. As a property manager, online listings are your primary way of acquainting prospects with the property. Well-created property listings improve user experi...
Common Area Maintenance (CAM) reconciliation sounds simple. Just add up all common area expenses and divide them among all the tenants. But in reality, it is a complex and time-consuming process. You might miss certain expenses or end up overcharging your tenants. Regardless, any error in CAM reconc...
Real estate automation has been in the market for quite some time. Every sector--from residential to commercial--has adopted some form of technology to simplify business processes. Automation through RPA tools not only leads to smart management but also plays an integral part in the financial succes...
Chatbots are not new to the internet. 67% of consumers worldwide had an interaction with chatbots last year. Whether improving customer experience or collecting information, chatbots have made their way into every industry. In real estate, they are used to interact with prospects and conve...
Ever had tenants who always paid their rent on time? Such tenants are an asset but are also not very common. For property managers, rent collection is one of the tiresome aspects. More than 50% of Americans make late payments due to job loss, financial problems, or simply because--they for...
Every year, offices use thousands of tons of paper. From documents and files to invoices and receipts, we waste a lot of it. According to Record Nations, 45% of paper printed in offices ends up in the trash can by the end of the day. Apart from the obvious environmental impact, relying on paper...
Robotic process automation is more than a trend these days. We’ve seen it go from an interesting concept to one of the most significant innovations for real estate companies. After helping dozens of companies integrate RPA, we can safely say it’s a game changer.
However, it’s still a very...
Technology is revolutionizing traditional building management systems. While BMS has a handful of thermostats, air conditioning systems, and ventilation, IoT aims to make the system smarter and more efficient.
The Internet of Things or IoT is already influencing many parts of our li...
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