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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 v......
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The 2020 City Center Shift to Suburbia

Across the globe, multi-family markets of all types have been impacted by the COVID-19 pandemic of 2020 – having a varied impact on occupancy levels. With restricted amenities, online universities, and the option to work remotely, city centers are simply no longer able to demand the premium they historically did. With the desire for more space, and lower costs, we are seeing an increase in demand and renters in suburban areas with a departure and softening of the urban market. However, real estate professionals are struggling to fill vacant buildings now and are no longer in a position to wait for the future normal to arrive – they need to address today’s normal now. Here are some steps that real estate professionals can take today in order to minimize losses and turn a struggling balance sheet into a healthy financial reflection: 1.Leverage Proptech. One of the biggest advantages real estate professionals can capitalize on when utilizing proptech is the reduction of in person meetings to view/assess a property or a rental unit. By incorporating proptech into your business models you will be a step ahead of the game by having access to more potential tenants at any given moment in time. For example, instead of allocating one appointment slot to provide a tenant with a tour of a property, property managers can incorporate proptech such as VR (virtual reality) technology which provides access to multiple floorplan tours for various tenants at any given time without requiring the property manager to be on si......
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Why Property Managers Should Use Google+

Why Property Managers Should Use Google+
By Jennifer St. James Yes, I heard your collective sigh of frustration when you read that title. Yes, I know that every day seems to bring another form of Internet marketing that you just “have to” be using. But trust me when I say that this one is different. Who hasn’t heard of Google by now? Probably even people living under rocks have used Google to find out exactly what type of rock that is overhead.  Which is my point, really. Do you remember life before Google? I know, for the younger generation, life before Google didn’t exist, and for those of us above the Millennial age, remembering what we did before Google is more than a little hard to do. And that’s why I know that Google+ is not just here to stay, it’s also going to start dominating the market. Soon. After all, you don’t see other search engine names being turned into a verb… “I’m going to go Bing that!” Said no one, ever. So, here are more specific reasons why property managers (as well as all business owners) should be on Google+ and using it as the fantastic tool it is: 1. Google+ Is GrowingI usually hear about Facebook in this department, and yes, it has seen some extraordinary growth—from its launch in 2004 to today, it has averaged about 111 million users per year, and now has about 1 billion users. Technically, Google+’s growth rate is four times that of Facebook—it launched in June of 2011, and has over 400 million us......
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