Studies have shown that online applications are incredibly beneficial to a property, but also that they’re not always used to their greatest potential. Fewer than 25 percent of applications are completed online by residents. And, perhaps more surprising, property managers are 20 percent more likely to follow up on guest cards than on incomplete applications. We at Property Solutions are hoping to change both of these stats.
You may have detected a bit of a theme in the last few newsletters and webinars as we’ve explored usability and design in web interfaces. Our development team is ready to unveil an example of those concepts put into practice. A new online lease application is now available that had been redesigned to make the leasing experience as simple and intuitive as possible for your prospective renters.
The new application includes a simplified interface and a more streamlined process that is designed to maximize data capture and improve the co-applicant process. A few of the processes have been re-arranged beginning with unit selection and ending with the application fee payment. Throughout the application process, a clear tally of accumulated charges is always visible in the right margin.
Renters insurance is becoming more and more popular—and mandating it is quickly becoming the standard, but is it worth it? Damage is inevitable, and we all know that it’s better for your property—and your bottom line—when your residents have insurance. But how much better is it?
Every Uninsured Unit is a Potential Time Bomb:
Nearly half of properties will suffer a small loss (less than $25,000) every year, and eight percent of properties will suffer a large loss; the average large loss is $77,250. If your resident is uninsured, your property will bear much of the burden, or get tangled in a long legal battle.
Renters Insurance Lowers Your Risk:
Good communication is essential to any business, but especially to a property. You’re not merely servicing customers; you’re building a community. When residents make a choice to move into an apartment, they have to be assured that they’re welcomed to the group, that the management will be easy to work with and accessible.
Property Solutions newly-launched feature, Message Center, is not about simply sending an email to a prospect—it’s about creating messages and then spreading those messages in the most efficient, customized way possible. Message Center is all about using the right tool for the right problem: you’re interacting with your prospects and residents in the way they prefer, be it email, text, or phone.
Most properties have some sort of screening process to check out an applicant’s credit rating and/or rental history before allowing them to sign a lease. It’s a sad fact that it’s often better to identify and avoid a bad resident in the first place rather than try to remove one after they’ve already moved in.
Regardless of the screening vendor you use, Property Solutions has made it simple to integrate applicant screening into the online application process. This removes the need for leasing agents to manually re-enter applicant info and significantly reduces the time applicants need to wait to find out whether or not their application is approved. Property Solutions’ best-of-breed integrations helps streamline the application and screening process for both property managers and renters alike.
Although Vacancy.com is still quite new to the online apartment listing space, we’re continuing to see growth as the site generates hundreds of online guest cards and phone calls each month. We anticipate continued growth as we add new features and capabilities to the website. For example, apartment hunters can now search for properties located near a university or other landmark. We’ve also recently introduced a Vacancy.com scholarship via the website’s blog. The best news: it’s still free to list your property on Vacancy.com.
We’ve noticed that some of the listings on the site generate a lot more clicks and guest cards than others and thought we’d share ideas for making your listing as effective as possible:
Congratulations to Rebecca Ciaramentaro of Marina Club Apartments, winner of the first ResidentPay sweepstakes and proud owner of a new iPad. Renters who paid online during the months of August and September were entered in a contest to win a free iPad. Information about the sweepstakes was distributed via rent-reminder emails to thousands of renters.
The sweepstakes was designed to encourage renters to take advantage of online payments. Studies have shown that renters who pay rent online once are 85 percent more likely to pay online in subsequent months. If you’re interested in more ideas to boost online payment participation, check out www.propertysolutions.com/paymentscorecard or contact your account manager.
Looking for a new view of your property? Try our new design theme: Vista. This website design uses your property images for maximum visual impact and a custom look without the price. This design combines stunning photography with intuitive functionality to give your corporate or property website a little something extra.
Like the template, but don’t like your property photos? Don’t worry. Property Solutions now offers a professional photography service that will have you shining in no time. After thorough vetting, we’ve contracted with a team of professional photographers who are experienced in real-estate photography who can provide the kinds of stunning images that Vista requires. Packages start at $1200 and include 15 stills and 5 virtual tours.
Contact your account manager for more information.
Property Solutions provides web-based property management software tools for the multifamily industry. The company maintains a reputation for
industry-changing innovations in property management software with cutting edge tools in marketing, leasing, and online payment processing.
Our scalable solutions make Property Solutions the leading provider of landlord software, apartment websites, and systems that allow residents
to pay rent online. Seamless integration with a variety of industry-leading property management systems makes Property Solutions' software tools
even more effective. Implementing property management software from Property Solutions allows property managers to streamline processes and simplify
transactions. Property Solutions' interactive apartment websites are easy to launch and effortless to maintain while our payment processing and online
leasing tools post online transactions directly to your property management software in real time.
