I attended Texas when they went up against Alabama in the National Championship… I’ll spare you the details. Texas lost. So it pains me to say this as a die-hard Texas Longhorn fan, but I am rooting for the enemy in this year’s college football playoffs, because, reluctantly, I’ll admit that Alabama is pretty good.
Since the NCAA national championship playoffs are just around the corner, I had to make a multifamily analogy to football, and I think we can take a few pointers from this famous team. In the past 30 plus years, they have won a couple sugar bowls (not to mention rose bowls from back in the day), and three BCS National Championship games between 2009 to 2012. And I bet they might make that four national championships if they continue on this power surge. So, how can apartment communities be like Alabama? (Or for those rooting for another playoff team…How can apartment communities be like Ohio State, Oregon, or Florida State?) Simple. Nail down your offensive strategy, strengthen your defensive line, and build up your special teams.
The Impenetrable Offensive Line
There are three parts you have to perfect in order to be the perfect team. To start this analogy off right, lets talk about your offensive line. These are the guys that make the foundation. They move the team forward and they make the first downs. They’re solid players. Your technology should be doing the same. With a platform approach, your property management software can move priorities forward, make residents’ and property managers’ lives easier (that’s a first down to me!), and create a seamless, efficient environment for essentials like lead management, leasing, and screening.
Another way to build up your “offensive line” is through your marketing efforts. Drive prospects to the end zone through SEO, PPC, and ILS initiatives. Think of these three (assuming your staff represents the quarterback), as your running back, your wide receiver, and your tight end. Three key players to an impenetrable offense. All of these tools need to work together to increase web traffic and to increase lead generation on your properties. According to a case study conducted by Property Solutions, Waypoint Residential had a property in North Carolina increase web traffic by 72 percent in just one month after implementing Property Solutions’ SEO services. More web traffic means more prospects for your property, which translates to more residents. Touchdown!
The Formidable Defense
The next step towards becoming the national champion of multifamily technology is strengthening your defense. Your defense is the service you provide prospects and residents. If a prospect has a hard time filling out an application, or can’t sign a lease due to conflicting hours, you may find yourself losing deals. If a resident has a bad experience submitting a work order, or can’t pay their rent online, they may decide to move to the apartment down the road come renewal season. Properties need to perform at every touchpoint with their customers.
If you are building up your defensive strategy to compete against your rivals, think of implementing the following services: online payments and online leasing.
1) Online Payments – People love to pay their rent, utilities, amenities, pet fees, and pretty much anything that requires a check, online. If it means eliminating the time to find a check, go to the clubhouse, or take more than 60 seconds to do something, people are going to choose the fastest option… which means people are going to want an online payment option.
2) Online Leasing – People also love to sign things digitally. This day and age people are buying things online, selling things online, and leasing is not an exception. Take your competition head on with online leasing for residents.
The Unforgettable Special Teams
Finally, if you want to be the best, you need to have additional services outside the norm. Similar to field goals, if you miss them, it could mean the game. Services like package tracking (especially around the holiday season) and lobby displays could mean the difference between keeping a resident or a prospect. Don’t miss out on services that make people’s life a little bit easier.
So there you have it. Be a national champion with your property management software. Create the best experience possible for your prospects and residents. They’ll have to root for you if you’re consistently performing.