In the world of multifamily leasing, it is simple: tenant experience is customer experience. Tenants do not care about the technical details that come with running the business daily — they want transparency, clear communication, and on-time service requests. In other words, a great landlord doesn’t just have “great properties” — they have excellent customer service. Utilizing the right tenant management software is how landlords provide excellent customer service.
With many prospective tenants turning to online resources for leasing information, it’s more important than ever that multifamily landlords generate positive online reviews. One of the most effective ways to turn tenants into satisfied brand advocates is to provide a seamless leasing experience. From pre-application to move-in, ensuring every interaction puts tenants first is critical. Put simply: tenant experience is not just a buzzword; it should be an inextricable part of your multifamily leasing strategy. However, as tenant expectations and preferences evolve, how can multifamily landlords keep up? While there is no one-size-fits-all solution, centralized leasing and tenant management software is helping bridge the gap between landlords and tenants.
Keep reading to learn more about tenant management software and how it is revolutionizing the way multifamily landlords do business.
Better for Leasing Professionals
Leasing is a team sport. While most leasing professionals want to focus on acquiring new tenants and retaining existing tenants, a good percentage are busy with the tedium and distraction of repetitive administrative work. This is where technology comes in to save the day—for both property management companies and their teams. Tenant management software eliminates the “busy work” for multifamily leasing professionals, so they can focus on what matters most: providing exceptional customer service.
Managing prospect leads and tenant information used to be a cumbersome task spread across multiple systems. With tenant management software, leasing professionals can say goodbye to clunky CRM tools and excel spreadsheets. Centralized tenant communications make it easy for leasing professionals to access a prospect’s wants, needs, and contact information—all at the click of a button. Plus, with intelligent automation, leasing reps can be sure they’re reaching tenants in a personalized and meaningful way.
“Tenant management software with automation tools can help leasing professionals move prospects through the sales funnel faster”, explains Zev Kershman, Lead – Product and Commercialization at DigiRealty Technologies Inc. “Providing leasing reps with the tools they need to succeed not only makes their job easier, but also increases productivity, helps them build stronger relationships with their tenants, and ultimately increases team morale.”
Better For Tenants
To provide a good renter experience, you need to actively engage tenants through a customer-centric leasing strategy. Most tenants want the same thing: convenience and open communication. In the past, multifamily landlords were restricted to traditional communication methods such as phone and mail. In today’s world, technology has changed the way tenants want to communicate with landlords — from email to text messaging, apps, and even social media; the communication landscape has changed drastically. In an age of 24/7 communication, property operators must find ways to centralize their tenant communications to succeed.
Tenant management software streamlines the management of tenant service requests and queries by utilizing a centralized communication hub. Having tenant communications in one easily accessible place not only reduces the amount of work required to communicate with and engage tenants, but it can also help landlords save time and increase tenant satisfaction. From initial inquiry to lease renewal and every interaction in between, tenant management software is a complete solution for managing tenant relationships, increasing tenant loyalty, and driving retention.
Better For Decision-Makers
Technology a multifamily landlord uses (or lacks!) is becoming an increasingly important part of how they differentiate themselves from competitors. The right software can streamline tedious tasks, help employees to be more productive, and ultimately add to the business’s bottom line.
To shape the bigger picture, leasing professionals need to cultivate the smaller, more meaningful experiences that impact their tenants. Learning about and identifying tenant pain points and preferences is the key to laying the groundwork for a positive, collective tenant experience. Tenant management software provides multifamily landlords with detailed insights on tenant satisfaction, overall space usage, amenity demand, and more, to better monetize their business and drive long-term retention and revenues.
In addition, centralized leasing technology and tenant management software can provide decision-makers with clear, data-driven KPIs across all revenue indicators—so they can spend less time and effort collecting information and more time scaling their business.
Tenant Management Software for Multifamily Landlords
Tenant experience comes with many considerations, and it will continue to change as multifamily leasing evolves into its digital transformation era. To learn more about how top multifamily property operators are pivoting to a tenant-centric leasing strategy, click here.