June 19-21
Meet us in Philadelphia for the 2024 Apartmentalize Conference by NAA
Schedule Demo
Close Mark

5 Tech Benefits of Resident Platforms for Multifamily PMs

February 27, 2024
No items found.

Technology can be a powerful tool for multifamily property management. But it can also have some unexpected side effects, like data overload or headaches from trying to manage multiple user-facing platforms.

While managing a Class A multifamily building comes with complex responsibilities, being proactive in reducing friction between those responsibilities is even trickier. Even with a strong management team, keeping track of the many needs of the residents and property operations can be a challenge.

Imagine keeping your property management team organized, improving the resident experience, and easing the workload of staff. It can all happen with the best tech platform national top performing companies trust. To deliver more benefits, we've compiled a list of the top five technologies that are proven to save time and resources for your residents and staff.

1. Automatic Onboarding Emails

With the many aspects of property management that need attention, it can sometimes be difficult to remember which residents are moving in and which are moving out. With the right software, you can customize and automate onboarding emails, so everyone is aware of the building regulations and amenities.

Welcome emails are crucial to establishing the right tone with new residents, so it's important to send one as soon as a lease is signed. Not only will this help new residents feel more comfortable with their surroundings and on-site staff, but it also makes it more likely that they'll pay rent and submit maintenance requests on the community app if you welcome them to the process.

Onboarding emails ensure each new resident receives the proper welcome, without creating additional stress or responsibilities for the property manager.

2. Manageable Maintenance Requests

When managing property, there are often many maintenance tasks that must be performed concurrently. Our resident platform allows you to set up a maintenance request process so property staff receive and track requests from residents in real time through your branded app.

It’s important for residents to be able to communicate their maintenance needs to their property managers, especially if the maintenance issue could affect other spaces, like a water leak. By using property management software, you can ensure that maintenance requests can easily be filled out by residents and organized by your property management team.

3. Streamlined Amenity Reservations

When offering a variety of multifamily amenity spaces such as a pool, gym or event hall, it can be a challenge to settle on the right system for reservations. If communication is broken or a reservation is misinterpreted, many residents could be upset, creating problems for the whole community.

A resident platform lets you streamline your amenity reservations by letting residents make and change their own reservations online. Residents can also reserve amenities in bulk, which is especially helpful if you have a large number of common areas with limited resources.

With resident platforms that offer real-time booking, residents can view availability on a calendar and book at any time. Flexibility is key when providing residents with streamlined options.

4. Online Payment

One of the most necessary but sometimes most complicated aspects of property management is collecting rent. Property management software is necessary for the many facets of multifamily accounting. Managing deadlines or delayed payments can be a huge task, especially in larger buildings. By using property management software, payments can be collected online. The software can help keep each resident’s account organized and will alert the property manager to any issues with late or non-payment.

Online payments can help you save money, time and resources. By integrating an online payment system into your resident platform, you can streamline the process of collecting rent from your tenants. This means fewer trips to the office, shorter turnaround times for both parties, fewer mistakes and less hassle in general.

5. Analytics

Organizing the many data points and resident engagement of a multifamily community can take a substantial amount of time. Property management software can quickly collect and organize data from your buildings.

Once the data is organized, the system can also present it in easily viewable graphs and charts. This allows property managers to view the trends of their building and resident engagement and make any necessary changes.

Analytics help you understand your residents. They provide insight into the habits, preferences, and spending patterns of your tenants—information that can be used to improve services and increase revenues. Analytics also give you a glimpse into how your property compares to others in its market. This information can be used to make intelligent decisions about pricing, marketing strategies and product offerings.

The Best Tech Platform

Property management is an enormous task, and it can be challenging to stay organized. With the right property management software, managing a multifamily building can be made much simpler. Not only does this reduce the workload and stress of the property manager, but it also improves resident experience and helps the whole community run smoothly.

It’s never been easier for multifamily property managers to streamline the day-to-day operations at their properties. Whether you want to improve guest service and experience or simply automate your daily tasks, there are plenty of tools available that can do just that. Elevated Living is here to make your team’s job easier with seamless property management software.