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EQ Meets Reputation Management

There’s only one thing worse than getting berated by a resident on site – getting berated on a review site.  When words are put on paper, they’re much more powerful than when they’re said to us in the heat of the moment. That’s because we can say something we don’t mean much more easily than we can write. When we write it, we probably mean it.  That’s what makes multifamily reputation management so hard for anybody who works for an organization they love and believe in. The moment you read a negative review from an angry resident, you feel it to your core, whether you were involved in the situation or not. You might feel angry, annoyed, hurt, sad, confused or any other negative emotion for that matter.  But that emotion won’t serve you well when you sit down to write a response to that review. That’s why we recommend hiring a third-party to respond to reviews. However, if you are tasked with writing the response yourself, you’ll need some strategies to manage your emotions. Here are a few I’ve seen work: Give it a few hours. Don’t just jump into your response right away. Let yourself work through the emotions before hitting the keyboard. It often takes time to work through the initial emotion and start viewing the situation rationally. Those first feelings are often irrational because expressing them to the resident won’t fix the problem. They will only escalate the negativity. Vent to a trusted coworker. You’re going to want to do this in privat......
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What’s next in Multifamily: Co-Living?

What’s next in Multifamily: Co-Living?
  The majority of young professionals don’t want to live with their parents until they get married. However, they don’t want to live alone, either. While not entirely new, Co-Living, or shared housing is on the rise. It is most prominent in London and New York where housing prices are forcing residents to seek out new and innovative ways to rent in big cities without breaking the bank. Co-living isn’t really all that new. The Baby Boomers started the communes to escape an oppressive and rule-driven way of life. Millennials, on the other hand, like having rules and a sort of parental authority. They are searching for co-living housing of no more than 4-10 people. Co-living communities enable viable lifestyles through sharing and economical use of resources and space.  A diversity in their roommates, different backgrounds, ethnicities, and ages is desirable. Not anyone they work with, but people that they can be friends with. Developing relationships is more important than square footage. Places, like Ollie have houses in New York City, Boston, Los Angeles and Pittsburgh. Residents unite around a common interest to collaboratively manage a communal space, share resources, and organize activities which contribute creatively and academically to the world around them. Ollie boasts amazing amenity spaces that invite their residents to shape the lines of life, work, and play with areas such as communal lounges, pools, gyms, spa areas, juice bars, roof decks, and flex spaces. As an Ollie member, residents have an all-access pass to the amenity spaces of an incre......
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Adding Value in the Age of Virtual Amenities

Here’s a crazy fact: the first generation to grow up with continual online access, Generation Z—also known as the iGeneration or Post-Millennials—is getting ready to enter the rental world. Gen Z’ers consume technology at a higher rate than any other demographic—checking their smartphones every three minutes. With smart home technologies having played such a big role in their lives, they have some pretty high expectations about what life as a resident should be like. More so, the generations behind them are catching up and wanting very similar experiences as they become more and more tech savvy. Most compelling, is that these expectations are now becoming the difference between whether a resident signs a new lease or stays at a particular property in the future. This wave of “proptech” (short for property management technologies) and virtual amenities is forever changing how residents assign value to their communities and whether they stay or go. According to Sprout Social, Gen Z and Millennials lead the way in spending their money with brands that they have had a positive exchange with from a technologies standpoint. Take for instance package management. 60 million Gen Zers reside in the U.S. and spend almost $44 billion annually in online shopping (Source: Retail Dive, 2017). In addition, there are over 80 million Millennials who also spend $600 billion annually (Source: Forbes, June 2017) Combined, these two segments account for an unprecedented amount of packages being shipped—last year Amazon alone shipped over 5 billion packages. It's likely that you receive handfuls, if not dozens, o......
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How Technology Can Be Used to Build a Sense of Community in Your Multifamily Properties

How Technology Can Be Used to Build a Sense of Community in Your Multifamily Properties
As a property manager, you probably feel in your business how big the rental market has become. But do you know how big, exactly? A Pew Research Center report built with Census Bureau data indicates that 36.6 percent of household heads were renting their property in 2016 — the highest number in over 50 years and close to the 37 percent peak in 1965.   The booming rental market is no doubt good news for property managers, but it also means more competitors are entering the space. Developers are in an amenities arms race as they rapidly install poolside cabanas, indoor basketball courts, and the latest golf simulators in an effort to differentiate their offerings. With rising interest rates and limited new home supply likely to continue into the foreseeable future, a strong and growing rental market is likely here to stay.   It's no shock to a property manager that improving retention is great for the bottom line — but how? As competition heats up, a clear trend is emerging — half of the top 10 most popular amenities added since 2014 revolve around bringing people together. But you don’t need to spend thousands on new swimming pools or outdoor kitchens to entice new residents to call your property home. Instead, smart use of technology can do the trick.   It’s Not Just Technology — It’s How You Use It   There’s a common misconception surrounding our use of technology — namely, that it isolates us and reduces the quantity and quality of our human interactions. Fro......
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Why you should resolve to adopt new technologies

I recently had the privilege to speak at a conference about the future of property maintenance.  Part of my message was focused on why we need to adopt new technologies.  Since we at Facilgo study this topic frequently, I’d like to share some personal stories that shaped my perspective as to why adopting new technologies is important.   The Power of Timely Information in the hands of the Right People Almost 20 years ago, I was riding on a ferry between two islands in Indonesia.  It was the typhoon season, and while there were some winds, the ferry ride was uneventful.  Two days later, I read the newsand was shocked at what I saw.  The very same boat which I had ridden had capsized the next day.  As the ferry took on water, a British passenger on the boat texted her boyfriend, who was in a pub in London.  The boyfriend immediately contacted the Royal Navy, who in turn contacted the Indonesian Navy.  The Indonesian Navy dispatched a search and rescue ship and saved all of the ferry passengers.   If you are unfamiliar withsinking ferries during the typhoon season in Indonesia in 2001, I can assure you that this outcome was quite rare.  This was an incredibly amazing occurrence, and it made me start to understand the power of getting the right information to the right people at the right time.  While property maintenance may not see such dramatic effects,obtaining timely information can make processes increasingly more effective and efficient.   Y......
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Pet-Friendly Apartment Marketing Ideas

The American Pet Products Association's 2017-2018 National Pet Owners Survey found that 68% of U.S. households own a pet. Last year, RentPath revealed research claiming that 66% of renters are pet owners. In an effort to cater to this growing renter base, many communities have adopted pet-friendly pet policies. Most of these policies allow renters to have up to two pets and they require additional pet rent and a pet deposit.  While much of the pet market is pet-tolerant, not as many communities encompass the true definition of pet-friendly. If your community embraces this pet demographic, there are many ways you can signal to pet owners that your community is a good fit for them. Here are some pet-friendly apartment marketing ideas your community can use to get the attention of pet owners. Search Engine Marketing We know that there is a demand for pet-friendly apartments, but are renters actually searching for apartments this way in Google? Emphatically, the answer is yes. Over the last five years searches for “pet-friendly apartments near me” has grown significantly in popularity. This Google Trends report nicely illustrates this growth.   The popularity for this search term was the highest among the following regions.   Popularity for pet-friendly apartment searches was the greatest among metros in the Midwest, New England and Los Angeles. If you happen to be marketing a community in one of these areas, this is a rental segment you don’t want to miss out on! How can communities capitalize on the rising demand for pet-fr......
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Instagram Do's and Don't for Multifamily

Introduction Instagram has been great for keeping up-to-date with friends and your favorite celebrities (we are talking to you @shawnmendes), but it is rapidly evolving into a marketing platform for your property. Instagram makes it easy to stay top-of-mind, showcase your brand and opens a direct line of communication between you and your target audience. Lately, we have noticed a few Instagram faux pas that could be turning your followers off. We have reviewed 100’s of property management company profiles to bring you a list of the top 10 Do’s and Don’ts on Instagram.   Instagram Don'ts 1. Ignore sizing recommendations Instagram is a visual platform, so it is vital that you follow the sizing recommendations, or else your posts will appear grainy and/or won’t fit in the frame properly like the image above. We recommend using 1080×1080 pixels for regular posts and 1080×1920 pixels for stories.   2. Poor subject choices We love chili as much as the next guy, but sadly it is not a very aesthetically pleasing food, especially served in a Styrofoam bowl. When making your decisions on what to post, it is important to consider how it will look. Instead of posting a picture of the chili itself, you could opt for a picture featuring your staff holding the bowl (think: girl holding a coffee cup). Another alternative could be to post a picture of the buffet table with the crock pot lid on and mentioning the chili in the comment. This way, you can get the point......
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The Resident Email Strategy Guidebook

Introduction Resident retention is a hot topic in Multifamily these days. It is cheaper and easier to have a resident renew than find a new renter--- $2,811 cheaper to be exact. So why does multifamily still have a turnover rate of 53%? Most agents don’t have enough time to check in with residents regularly. We identified the five best times to connect with residents. Now, this can seem like more than your agents have time to do, but there are a lot of email schedulers that can make this a breeze for your team.   Settling the Pre-Move Jitters Before any big change in life, there seems to be a frenzy of emotions. Over the course of one minute, a soon-to-be resident can go from ecstatic to stressed to sad. With all that going on, it’s hard to remember things like when to pick up their keys or how to reserve an elevator. The last thing they want is to do is realize they needed a money order to pay the first month’s rent and all they have is a credit card. And to top it off, its a Sunday so the bank is closed. The worst part is that the leasing agent told them about the money order three weeks ago when the lease was signed. So, they only have themselves to blame. Let’s be real, nobody wants to blame themselves. So, they are going to blame you, the property management, instead. This is not how you want to start off a relat......
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Voice To Text - How Voice Commands Are Changing The Expectations in Multifamily and Beyond

  Technology is changing rapidly - and with the new rollouts from Amazon’s Alexa, Google Home, and all of the other companies using voice technology as a tool for automation, it’s safe to say that voice is the way that things are heading. When it comes to communication, writing, and note taking, verbal voice to text can help things be faster and more automated - allowing you more time for brainstorming, and less time spent typing.Interested in seeing how voice to text will be able to simplify your day-to-day? Check out these ways that we believe voice is going to change the multifamily industry - sooner rather than later.Voice to Connect:Feel like you already have your hands full during your day-to-day? That’s where voice comes in! Voice to text has already become a player in the retail and communication sectors - and now multifamily is benefiting from this tech-trend!Need to send a text message to building 3 after you’ve already left the office… during dinner? It happens! There are resident communication tools out there that allow you to quickly and easily send texts to your residents… and that includes a voice text! In times of urgency or emergency, being able to use your voice to send a mass text message or respond to a resident via text message (from your property’s unique text to chat number) is an essential and powerful tool.Voice to pay rent: Paying rent has seen some major changes over the last few years - once only possible by dropping a ch......
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Revitalize Cold Leads, Effortlessly.

Lead Win-back for Multifamily  Most CRM’s for multifamily ignore cold leads after a few months. The idea is that these leads have decided to rent elsewhere and aren’t viable prospects anymore. However, what these systems are ignoring is the high resident turnover rate for multifamily. 53% of residents do not renew their leases. Which mean 53% of the leads you ignore are going to be actively searching for a new apartment within the next 10 months. Call us old fashioned, but we don’t see why anyone would throw away perfectly good leads. Think about wine for a second. There are two approaches to drinking wine: There are the Barefoot wines that are ready-to-go. This is a popular choice for novice wine drinkers. Similar to how an basic marketing plan is only concerned with prospects who lease with you the first time around. Then there are true wine connoisseurs. They tend to be more experienced and patient individuals. They understand the value of waiting for a desired outcome. This reflects how a mature marketing plan is willing to invest in revitalizing cold leads. Before you get the wrong impression, we aren’t wine snobs. We see merit in both options. Which is why we suggest using an email marketing strategy that manages both warm and cold leads. This approach gives you more opportunities to turn leads into leases. Plus, gives you more money to buy more wine: Win - Win 🙂   How to Win-Back Cold Leads We recommend automating the cold lead communications. That way, ......
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