By Lauren Shanesy and Mary Salmonsen (MultiFamilyExecutive.com Article) — Leasing a unit can be cumbersome, often entailing many tedious steps from start to signing. The same can occur with maintenance requests, in response to which residents have come to expect on-demand service.
The following new and noteworthy software platforms, dashboards, and mobile apps are designed to give residents instant and seamless communication with community managers while streamlining leasing and maintenance tasks for your team on the back end.
The LeaseLock insurance program allows property managers and other leasing providers to replace their standard security-deposit systems with a pure insurance program. Under LeaseLock’s system, renters pay a monthly fee, starting at $19, that insures their unit for up to six times the monthly rent and damages.
LeaseLock has integrated its insurance solution with a number of property management software providers over the past summer, including RealPage, Entrata, MRI, and, most recently, Yardi. The Yardi-integrated LeaseLock process is entirely automated, offering instant coverage for all residents approved by the property.
“By replacing security deposits, apartment companies are eliminating unnecessary tension between operators and renters, significantly reducing move-in costs, and converting more leases,” said Reichen Kuhl, founder and CEO of LeaseLock, in a statement. “Some large owners and operators are also seeing a savings of more than $1 million annually on administrative costs associated with handling security deposits.”
Multifamily marketing and leasing platform Nestio recently updated its software to operate as an “end-to-end” service that automates the entire leasing process for both operators and renters. The platform tracks and manages leads; engages and communicates with touring and prospective renters; and tracks and reports performance data—all in real time, from a single dashboard.
According to Nestio, the technology creates instant, personalized service for apartment hunters with 24-hour, on-demand response technology and apartment-booking and -touring tools. Machine learning also helps leasing agents automate tasks, such as responding to commonly asked questions like, “What is your pet policy?” The new suite also includes productivity tools, such as an integrated renter communications feature where renter emails and texts live in a single time line–like feed, making prospect communications seamless between renter and agent.
“We realized the best way to improve the experience for the renter was to streamline the process for multifamily owners and their operating partners. Our users understand that in order to stay ahead of their competition, they need to satisfy their end user—the renter,” said Caren Maio, CEO of Nestio, in a statement. “Our platform is positioned to give our users that edge more than ever before.”
Two new platforms from Xfinity Communities, Xfinity Communities Connect and Xfinity Resident Pages, are designed to streamline the communication process between property managers, residents, and Xfinity fiber-optic service providers.
Xfinity Communities Connect provides service portals custom-made for each multifamily property, through which property managers can view the technology services in the building’s common areas and units. Property managers can use the platform to report service issues, request assistance, or schedule visits from customer account representatives, who will immediately be notified when a request is made.
The Xfinity Resident Pages portals are tenant-facing services that provide information on Xfinity’s products and services, as well as the means to sign up for service. The pages deliver service offers and building-specific promotions as well as self-service information.
The RENTCafé Kiosk program is a self-service app designed for multifamily front-office use by prospective renters, residents, and agents. The system provides a streamlined application process for potential renters on-site, as well as access to property promotional material such as photos and floor plans. Residents can use the app for concierge assistance, including amenity reservations, and the property’s agents can access appointments, resident activity data, and other front-office tools.
RENTCafé Kiosk integrates directly with the RENTCafé platform, as well as Yardi Voyager and RENTCafé CRM, to provide all users with access to real-time property data. A touch-ID system allows the property to keep sensitive data secure.
“The true value of RENTCafé Kiosk is the ease it brings to the leasing office,” said Patrick Lawler, director of RENTCafé product development at Yardi, in a statement. “A prospect can learn more, self-select a unit, and complete the application right there, including paying related fees.”
With a new, mobile app–based leasing and management software, C² aims to cater to the desires of millennial renters while offering a streamlined, easy-to-use platform for leasing agents and property managers. The unique system gets rid of the traditional lease by offering tenants a subscription service that allays the fear of being locked into a contract.
On the property management side, C² provides a platform for tenants to report a maintenance issue through the smartphone app. The company says the requests go through an automated system that identifies vendors to get issues resolved immediately, and property managers get online maintenance tracking. The system also allows tenants to pay rent.