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Technology: The Unsung Hero of Renewals

Technology-Renewals-PooPrints_MFI

From the way we travel and work to how we shop and communicate, technology is altering every aspect of our lifestyles. Multifamily also embraces technology in a multitude of capacities for the benefit of operators, onsite teams and residents, and there’s no turning back. 

New tech tools not only make onsite jobs easier, they also enhance the overall resident experience. If residents have access to innovative technologies that make life easier and more enjoyable, they are more likely to stay long term at the community. 

While access controlled parking, the ability to place a work order request and pay rent online, smart home features, and high-speed internet are certainly tremendous assets to a community, tech advancements that emphasize health and wellness are crucial to increasing renewal rates and resident satisfaction. When discussing the health and wellness of residents, most people think of amenities like fitness centers. However, if we’re talking about a threat to the overall well-being of residents and the environment, one of the biggest culprits is unscooped pet waste.

To address the unscooped pet waste issue, many operators take the traditional approach of implementing community pet policies, installing more pet waste stations and relying on onsite teams to find out who is leaving the pet waste behind. But by utilizing cutting-edge services, like biotechnology platforms offering DNA testing, unscooped pet waste is becoming a thing of the past. 

We all know the adage, “You can’t teach an old dog new tricks.” However, operators now have new unique technologies available to ensure that the old dog's waste is scooped up and disposed of properly by identifying the offending pet and owner.

More than 6,000 communities spanning multiple countries have already implemented a biotechnology platform that performs DNA testing of pet waste, resulting in a 95% reduction in unscooped pet waste. Unlike some technology that’s been introduced to the industry, this  service is easy to roll out with ample benefits to reap.

Some of the biggest complaints of modern residents include trash and pet waste. Dissatisfied residents have multiple platforms to leave negative online reviews. This not only damages a community’s reputation, but it deters prospective renters from even checking out a community if they know up front the community isn’t clean. Pet waste impacts the entire resident lifecycle and can hinder both new leases and renewals. 

A host of technologies are available that improve operations, enhance the resident experience and increase NOI. Using discernment and being selective of which technology suits a particular property or demographic best is pivotal to the success of a community. 

Although smart home technology is a fan favorite, wooing a prospective resident begins with curb appeal. Using innovative biotechnology to reduce the amount of unsightly and environmentally harmful pet waste benefits the health and wellness of residents, pets and staff alike while enhancing the community’s appeal. Clean, safe communities ultimately lead to greater occupancy and resident satisfaction.

 

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