Multifamily Ties

Real Estate's Connected Age

By Lee Ann Stiff on Sep 10, 2019 in Marketing, Technology

We’re living in a connected age. In multifamily property management, creating strategic connections can enhance the resident experience and deepen ties with communities and property managers. How? An article in the Harvard Business Review titled “The Age of Continuous Connection” explains how technology is driving meaningful customer experiences.

“Thanks to new technologies that enable frequent, low-friction, customized digital interactions, companies today are building much deeper ties with customers than ever before,” wrote authors Nicolaj Siggelkow and Christian Terwiesch.  “Instead of waiting for customers to come to them, firms are addressing customers’ needs the moment they arise — and sometimes even earlier. It’s a win-win: Through what we call connected strategies, customers get a dramatically improved experience, and companies boost operational efficiencies.

For multifamily operators, that means creating effective digital connections that anticipate needs and feel personalized. As a result, businesses will be able to free up onsite property staff for more meaningful in-person interactions.

Connected businesses

At the Yardi Advanced Solutions Conference (YASC) that took place in Washington, D.C., in May 2019, Anant Yardi spoke to clients about continuous connection and how it can be beneficial for real estate business relationships.

“This day and age of continuous connection doesn’t necessarily mean we are communicating all the time. But it does mean that we are available, and we respond,” said Mr. Yardi. “Our goal is to provide a connection between the business, the consumer and the property. As we think about continuous communication, the basic way we do real estate doesn’t change. But the way we transact business may change,” he added.

For Yardi, this means thinking about the user experience of all parties involved, from stakeholders and leasing staff to prospects and residents. How can we innovate the way people connect with their homes and management companies? What opportunities do we have to make communication and leasing easier and more intuitive?

 Digital interactions

With on-demand and responsive services enabled by popular technologies like Amazon Alexa and Fitbit, consumer expectations have changed significantly. Today’s renters share those expectations for a more personalized rental experience — including smart home tech amenities like keyless locks, thermostats and lighting that can be controlled remotely and automated to your preferences.

To further increase resident satisfaction, property managers can use digital interactions to promote paid amenities that are curated to meet a resident’s changing needs and put them at their fingertips. “Need help with your new dog? Click here for a great dog walking service. Into yoga and looking for a local instructor? Tap here for a class near you.” Targeting renters with niche marketing that matches their interests is more likely to produce positive results. It also helps your residents connect and identify with your brand.

Deeper relationships

 Automating lead management and leasing, including prompt follow-ups by text or email, goes a long way to boost staff productivity while it increases customer satisfaction. Call answering automation ensures that you can still connect with valuable prospects when your onsite leasing staff is unavailable. Plus, your residents are served day and night. These are important ways to develop relationships with your customers and make them feel valued.

And, when your residents are talking about you on apartment review sites and social media, good or bad, you should be there to respond. According to the most recent NMHC/Kingsley Renter Preferences Report, 79% of renters said that opinion sites influenced their current lease decision. Reputation management is important for your brand, and online responses can also help you increase organic traffic to your property websites. Participating in conversations about your properties will let your customers know you care and show them your company is internet savvy.

When it comes to your online presence, we’ve all seen poorly designed company websites with outdated content, and it never instills confidence. Make sure your website has a modern look and feel with plenty of features (like interactive floor plans and tour self-scheduling) to engage your prospects.

Start today

​​These are just a few great examples of connections that can help your multifamily business thrive. Ready to learn more? Find out how the RENTCafé Suite can help you create connected strategies at your properties.