The COVID pandemic has affected every aspect of people’s lives—from how we live to how we work. Many of the normal ways of doing business are turned upside down. The good news is that with chaos, there is also opportunity for lasting change.
Trend-setting leaders in the multi-family housing industry are replacing old practices with new technology which can help attract new renters, improved service to residents, and raise the bar on operating efficiency and staff professionalism.
Here are five ways to use technology to alleviate pain points in multifamily property management:
- Leasing: Paperless. Digital. Fully automated and online. That’s how the process has to be for Millennials and Gen Z, the generations that make up more than 50 percent of the U.S. population and nearly two-thirds of renters. Streamline the rental process from property viewing and leasing application, through resident screening, to signing and property management software.
- Property Showings: Now is the ideal time to establish self-guided tours. Imagine a curated experience delivered through an iPad or iPhone that guides potential renters through a model unit and shared amenities. Providing a contactless way for potential residents to experience your property will allow you to ‘get back’ to business during this unusual time.
- Package Delivery: With residents now purchasing all their essentials online and having them delivered, the convenience of one-click shopping and direct delivery to their property within a matter of hours, the crush of package delivery isn’t going away anytime soon. Now is the time to implement package systems that declutter lobbies, provide residents 24/7 access and security, and free up management staff to do the jobs they were hired to do.
- Develop Multi-dimensional Relationships with Residents: Millennial and Gen Z renters seek high-touch and hyper-connection, with independence and self-sufficiency. Build their preferences into your social media marketing plan. Nearly 60 percent of millennials, 50 percent of Gen X, and 55 percent of Baby Boomers all follow brands on social media before purchasing from them.
- Boost Your Brand: Showcase the personality and features of your property on your web site with additional interactive content and 3D videos that Millennials and Gen Z want to watch. There are many talented freelancers (photographers, web masters, and copywriters) who are looking for projects these days. Share experiences via YouTube. To Gen Z, it’s not the pool that’s cool, it’s video of all the cool people using it.
The impact of COVID-19 has caused all of us to take stock of the everyday way we do things and is propelling us to seek new ways to add virtual and contactless solutions so we can keep doing those everyday things! Residents’ and property managers’ needs alike are changing rapidly, but by implementing technology changes now, we can all be better prepared for what comes next.