Large companies produce a bevy of brilliant ideas, but that doesn’t mean they are the only ones doing so.
It is foolish to overlook some of the astute tactics employed by smaller companies on the apartment landscape. A panel of such innovators relayed ideas at the 2015 Apartment Internet Marketing session Innovation 2015: Small Companies, Big Impact.
Updater has developed an online resource designed to streamline the moving process for residents.
“The logistics of moving is just an absolute nightmare,” Updater director of multifamily Ash Bell said. “They have to worry about things like forwarding their mail. Think of all the accounts you have to notify of your change of address – they’re doing all of that.”
Bell notes that owner/operators have fantastically utilized technology to attract residents, “But the minute they sign the lease we really kind of drop the ball outside of handing them a move-in packet,” he said.
The easy-to-use Updater software works as a bridge, allowing residents to immensely reduce the time it takes to move.
Domuso constantly is finding ways to ease the application and payment process for residents. Prospective residents can utilize domuso.com to reserve a unit, apply online and make payments, with the added bonus of quickly and seamlessly developing a payment plan for security deposits.
“With rents rising as much as 30 percent, that first security deposit is sometimes difficult,” Domuso CEO Damian Langere said. “With this option they are not required to come up with so much to start. They can pay their security deposit in full or incrementally.”
Danielle Noel, sales director of multifamily for Binary Fountain, has utilized Chatter Insights to help with review management, which has given her company a 636 percent leap in reviews.
“Reviews are not going away,” Noel said. “Google has proven they are going to keep them and that they are going to have an even greater impact.”
Rent Dynamics has developed a Lead Card, which, through taps and clicks, helps owner/operators with data capture. It ensures detailed information about prospective residents is readily available.
“It provides a whole new level of communication between the prospective resident and leasing agent,” said Clint Reeves, the vice president of business development for Rent Dynamic.
Zumper is developing a way to “take leasing into a one-minute decision,” co-founder and CEO Anthemos Goergiades said. Among many innovations, prospective residents can access their credit report by phone during the application process and make it readily available to the owner.