Using proptech to manage rentals in a bad economy
COVID-19 has impacted the U.S. economy in unprecedented ways. While it is impossible for any industry to be completely recession-proof, landlords can take steps to make their portfolios more recession-resilient. It is critical to be proactive during times like these, not reactive.
Proptech can help obtain the right residents.
Even before the pandemic, prospective residents expect a digital experience when it comes to finding a place to live. Software like forrent, apartments.com, and apartmentsguide.com make it easy for prospective residents to find your properties online. Not only do these platforms offer powerful interfaces for prospective residents to search and apply for new places to live, but also have advanced features like 3D tours and neighborhood information that enable prospects to learn about your property in fun, engaging ways — which hopefully lead to new residents for your property.
Proactively manage leases.
How precisely can you forecast your properties risk? Advanced proptech like YARDI can provide insights that enable property managers to assess performance, identify needs and to proactively adjust lease rates or length of term to manage the risk of lost rental income. Some solutions offer in-depth data analysis that combines your data and market data for a broader perspective of your portfolio.
Remain profitable with resident retention data
The resident experience is the key to a building’s value. Software solutions like Rent Café are available to make meeting your residents’ expectations a breeze. This type of software can facilitate various communications efficiently, saving you and your residents the problems that come with miscommunication and manual forms of enga……
Proptech can help obtain the right residents.
Even before the pandemic, prospective residents expect a digital experience when it comes to finding a place to live. Software like forrent, apartments.com, and apartmentsguide.com make it easy for prospective residents to find your properties online. Not only do these platforms offer powerful interfaces for prospective residents to search and apply for new places to live, but also have advanced features like 3D tours and neighborhood information that enable prospects to learn about your property in fun, engaging ways — which hopefully lead to new residents for your property.
Proactively manage leases.
How precisely can you forecast your properties risk? Advanced proptech like YARDI can provide insights that enable property managers to assess performance, identify needs and to proactively adjust lease rates or length of term to manage the risk of lost rental income. Some solutions offer in-depth data analysis that combines your data and market data for a broader perspective of your portfolio.
Remain profitable with resident retention data
The resident experience is the key to a building’s value. Software solutions like Rent Café are available to make meeting your residents’ expectations a breeze. This type of software can facilitate various communications efficiently, saving you and your residents the problems that come with miscommunication and manual forms of enga……