RealWorld 2019: Taking the Pain Out of Leasing and Resident Services

Buying a car used to be like pulling teeth. Same as renting an apartment for the resident and property manager. Not too long ago, you had to pack a lunch (or dinner) when visiting the dealership to buy a new car because the buying experience was long and painful. Credit approvals and paperwork dragged out the process so much that the euphoria of entering the new car showroom turned to frustration. By the time you drove the car away from the lot, you were just glad it was all over. A panelist as last fall’s National Multifamily Housing Council’s OpTech conference noted that buying a car in these modern times has changed dramatically, citing how one leading car manufacturer has turned a seven-hour buying experience into about half an hour using a self-service approach. The apartment industry should mirror that approach, he said, and in many ways it’s already doing it. Self-service restores euphoria of renting a new place or booking amenities Self-service online leasing has come a long way to reduce hours –even days – of time spent looking for a new place. Step-by-step navigation through the paperwork, credit checks and insurance policies has restored the euphoria of the home search. The same is true for reserving amenities, which once took a trip to the leasing office and maybe waiting for the right person to be in the office. By giving the renter control of the leasing process through a resident portal or mobile app, a new applicant can breeze through the paperwork on a lunch hour and still have time for a quick bite. Once on board, the new resident can make other purchases that impact the renter lifestyle at the community through the payment platform. Booking the club room or arranging a parking pass can be done at the resident’s convenience. Meanwhile, the efficiencies benefit the property manager, who can spend more time elevating the renter experience and creating a long-lasting bond while providing a new source of ancil...