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Have You Considered Adding Leasing Automation to Boost Your NOI?
Have You Considered Adding Leasing Automation to Boost Your NOI?
We’ve all seen it. Many of us have lived through it first hand. If there is one thing that goes without saying, it is that the property management industry is constantly evolving and that means so too are the ways in which teams engage with their prospective renters. With each new generation comes a new set of obstacles to overcome. None so important as the current expectation that leaves the next generation of residents hyper-focused on things like efficiency, flexibility, and immediacy.
This has led to an insurgence of proptech tools and solutions along the way, however the ongoing COVID-19 pandemic has certainly sped up the digitization process for many management companies even though they existed in an industry that was already headed this direction well before we needed to be reminded just how long to wash our hands. While the idea of self-showings and digital access technology first made headway among our cousins in single-family property management, it’s time to talk about how these same methods can help enhance the experience for both multifamily prospects and property managers alike.
There are numerous benefits to unaccompanied tours including the reduction of market time for vacancies by allowing for a more flexible leasing process, a more rigorous pre-qualification of prospects with the typical identity verification process that’s incorporated, and most importantly, the time saved for both leasing agents and prospects who don’t have to wait until they can each find time to tour the vacancy you’ve got available. With the value proposition layered into incorporating self-showings, it’s no wonder why the pandemic has put the conversation front and center for multifamily property managers.
With a leasing automation platform in place, you can seamlessly incorporate these unaccompanied tours — or self-showings — into the options you present everyday. The most powerful solutions in the market provide real-time scheduling and pre-qualification, navigate digital access code distribution without intervention, as well as carry the prospect through the leasing lifecycle by continuing to nurture them post-tour by capturing feedback, providing application options, and communicating with them on important changes to your vacancy such as rent decreases. Even better still is that the right tool should get the heavy lifting done while still allowing your team to reach in and touch the prospect at points in the conversation that are important to you and your management company so that each prospect is left feeling excited about their leasing experience.
The best proptech for leasing in my opinion should pair effortlessly with the business practices you already have in place while creating a prospect-driven experience that enhances what the leasing team is already capable of doing on their own. So in the age of technology, how are you choosing to do better by your team and your prospects? It’s time to consider the options and leave fear behind. Proptech solutions such as leasing automation are right there and suppliers are at-the-ready to help you navigate best practice while incorporating the right value add for your team.
