Protecting Your Portfolio – and Serving Customers – Now and in the Future

With 2020 firmly behind us, apartment owners and operators have reasons to be optimistic about the road ahead. 
To cite just one example, consumers by and large are maintaining healthy credit profiles. The pandemic has undeniably presented major economic challenges for many, but the average credit score in the U.S. increased by 1% (seven points) in 2020, according to Experian.
This statistic suggests that many consumers could be well positioned to sign new leases and renew their current ones as 2021 unfolds. And as apartment owners and operators prepare for the recovering economy, it’s critical that they have access to data and tools to navigate the market intelligently, while mitigating as much risk as possible.
“Future-Proofing Your Rental Playbook” by Experian outlines several ways apartment companies can strike the right balance between meeting the current and future needs of prospective residents while also protecting their portfolios. 
The e-book recommends operators take the following three steps as soon as possible: 
Implement tools that will allow prospective residents to have a fully digital leasing experience. During the pandemic, prospects undoubtedly grew fond of being able to navigate the leasing process from their homes. Accordingly, apartment owners and managers should think of these capabilities as long-term investments and always seek sensible ways to reduce friction in the leasing process. 
Use technologies that reduce risk and prevent fraud. Emerging from the difficulties of the past year, operators understandably will be laser-focused on processes and procedures that build and maintain occupancy rates and mitigate the chance f……