Managing utility costs for a multifamily property can be a huge headache. Whether you’re working with a ratio utility billing (RUB) formula, submetering, or an allocation method, dealing with local utility providers, navigating local regulatory issues, and collecting fees from non-compliant residents can consume huge amounts of a property manager’s time. The industry has responded by creating a handful of tools to manage the minutiae of utility billing and collection. Unfortunately, managers have never been able to alleviate all of the headaches associated with utility billing. Until now:

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With the industry getting more tech-savvy every year, property management companies are exploring ways to take advantage of an ever-growing number of technology products. Lincoln Property Company has perfected a method for incorporating new solutions. With a strong company culture and a tradition of “Lincolnizing” everything from technology products to charitable giving, Lincoln’ solutions work better and its operations run smoother.

“The goal is to make new tools fit, logically, with what our property managers are already doing,” explained Jennifer Staciokas, VP of Marketing and Training at Lincoln.

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As the multifamily industry continues to adopt new(ish) technologies and platforms for marketing and leasing purposes, the question often comes up: How well are these tools really working? Unfortunately there’s not always a good “short” answer to this question, but we’ve observed that companies who make it a practice to establish benchmarks and track performance are seeing real benefits.

Mary Herrold, Marketing Systems Developer at The Marquette Companies, explained that benchmarks are not just a random number. “We base them on our performance history, industry averages, and other real-world experience,” she said. “We also research information available in industry publications and through research firms like Satisfacts and Ellis Property Services. We do our homework. Our research tends to confirm what we know from our own experience.”

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Just like you, Property Solutions is taking time to enjoy the holiday season, but we’ve also got our eye on 2012. Here’s a little sneak peek at our next release to give you something to look forward to after the gifts are all opened and the radio stations stop broadcasting their 24-hour Christmas playlists. Our UX elves are busy putting the finishing touches on a fresh new navigation for ResidentWorks. The interface has been reworked to provide cleaner and more intuitive navigation. We’re also giving the resident screens a face-lift to make those pages more consistent with our recently re-designed lead view.

Here are a few of the changes you can look forward to:

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Visitors to your website will feel as though they’re floating on a cloud with Harmony, the newest design theme from Property Solutions. Incorporating the eye-catching parallax effect, this web design lets visitors scroll through property photos, amenities, and floor plans without a single click. Call today to switch.

You can see it in action here.

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Harnessing power of resident reviews isn’t as hard as you might think. And it’s definitely worth the effort. Recent studies* indicate a power shift when it comes to factors influencing a purchasing decision: away from big marketing budgets and message repetition and in favor of company/product ratings and reviews. And the internet makes consumer reviews easier than ever to find.

Consider these findings from Lightspeed Research in a March 2011 study: Over 60 percent of people read product or business reviews online before purchasing, and more importantly, trust other consumers’ opinions about the purchase in question. This number is likely much higher for ‘considered’ purchases (such as their next apartment). The study also shows that as few as two or three negative reviews can cause consumers to change their mind about a potential purchase.

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It’s that time of year: Social calendars get hectic. Weather gets brutal. And people get generous. DEI Communities has found a way to bring communities together and involve residents in a giving tradition. Ashley Tatum, Marketing Director at Vista Shadow Mountain in Tulsa, Oklahoma explained how it works.

Make it important: “Every year DEI sponsors a company-wide food drive,” Tatum said. “Even corporate gets involved. There’s a friendly competition between properties to see who can collect the most non-perishable food items by weight.” While properties have the option to choose which charities or causes to support, having the backing of the corporate office helps strengthen the culture of giving across all of the DEI properties.

Choose your cause: “Every year a new resident will come into the office and ask if they can organize a food drive,” said Tatum. “We’re happy to be able to work with them on a cause that really resonates.”

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