Lead Nurturing Was So 2024 – It’s Time for Team Nurturing (and making tour day a whole lot smoother).

Vida by Property Vista is changing the game again with the release of AI Powered Team Nurturing.

Vida by Property Vista is here to simplify operations, drive better leasing results, and finally replace the broken tech stack so many teams are stuck with. How? By building an AI solution designed specifically for multifamily and using it to empower your leasing teams, not replace them.

Yes, lead nurturing is amazing, necessary, important… but…. team nurturing?! That’s the future. Your leasing team doesn’t need more noise. They need the right information at the right time. What’s the one thing they need to focus on right now? It can be hard to remember when you’re moving a million miles a minute. So now, Vivian (our AI Assistant) tells them. How? With text message updates straight to their phones about the task, time, tour, unit, vacancies, etc at hand.

This means less bouncing between systems, fewer manual follow-ups and no more guessing what a prospect wants or where the resident issue is.

Less chaos = More leases.
Fewer leads = Fuller communities.
(We promise the math is mathin’.)

What AI Powered Team Nurturing Brings:

• Real-time guidance for your team: Vivian tells staff what matters most, whether it’s a resident escalation, today’s availability, or a reminder about an upcoming appointment.
  
• Mobile first + friction-free: Leasing agents get instant answers on their phone. What units are open? What’s the vibe with this prospect? It’s all right there.
  
• Smart pre-tour prep: When an appointment is coming up, Vivian sends a text with everything the agent needs: who they’re meeting, past conversations, a link to the guest card.
  
• Pre + post-tour sentiment tracking: “Hey Helen, your tour starts in 10 minutes – are you nearby?”
  Followed by: “Thanks for stopping by – how did it go?”
  

Vivian doesn’t just support your renters. She supports your team. She cuts the back and forth and delivers info that’s important – so they can deliver what matters. One might even say Vivian delivers a particularly high level of badassery to your leasing game….

Also Live & Oh So Exciting: PropertyTours.ai

What if prospects stopped texting, “Where do I park again?”

We have great news: now they can.

PropertyTours.ai sends a personalized link to every confirmed appointment with:

• Parking instructions
  
• Meeting point
  
• Directions
  
• Contact info
  
• What to expect
  

Your team can stop chasing confirmations and sending the same information over and over and over and over and over again over and over and over and over and over again over and over and over and over and over again over and over and over and over and over again over and over and over and over and over again.

You get that point. Prospects can show up, ready.

“It’s Not About More Leads. It’s About More from the Ones You Already Have.” – someone who works at our company.

You don’t just need more traffic; you need better traction with the traffic you’ve got.

(Now say that three times fast.)

With AI-powered CRM tools, your team can convert smarter, faster, and more consistently.
Let’s stop chasing volume and start maximizing value. Booyah.

What’s that feeling? Being AI ghosted.

Because here’s the thing: ghosting works both ways. Leasing teams often blame renters for going silent, but the reality is, bad AI is the real culprit! The AI that’s supposed to help is actually pushing leads away.

Meet Your Average AI—The Ultimate Ghoster of Renters.

Bad AI is like that one date who seemed great at first—until they never texted back. It leaves renters feeling frustrated, and ready to move on to someone who can actually give them answers.

Here’s how bad AI ghosts renters faster than a Hinge match who “just moved to town and isn’t looking for anything serious….”

Memory Like a Goldfish
A renter asks about a two-bedroom unit on Monday. By Wednesday, AI’s acting like it’s never met them before. It’s like 50 First Dates…but not nearly as romantic.

Robotic, Unhelpful, *Annoying* Responses
Ever been hit with, “Please check our website for details”? That’s not an answer…it’s more of a polite way of saying, “Figure it out yourself.” Renters want real answers, not canned, generic responses.

Groundhog Day, Leasing Edition
A renter messages your AI, then calls, then emails—only to get the same “How can I help you?” every time.

No Follow-Up, No Fun :/
Not every lead converts on the first interaction. (Shocker, right?) Renters need a little TLC—a timely follow-up, a friendly check-in, a reminder that they are remembered.

How AI Should Actually Work: Humanizing Tech, Empowering Teams

At Vida, we know AI can do better. That’s why we built Vivian, an AI leasing assistant that actually engages renters, builds relationships, and supports leasing teams.

Here’s how Vivian fixes the ghosting problem:

She remembers names, preferences, and past conversations—so renters never feel like they’re starting from scratch.

She provides real, dynamic answers—not robotic, unhelpful replies that push prospects away.

She works seamlessly across every channel—text, email, chat, and phone—so renters feel like they’re talking to one person, not a disconnected bot.

She nurtures leads with intelligent follow-ups—keeping renters engaged, informed, and moving through the leasing journey.

And most importantly, Vivian doesn’t make false promises. She’s not here to replace your leasing team—because let’s be real, renters (and all humans ever) will always want real human connection. She’s here to enhance your team.

By handling inquiries, follow-ups, and data tracking, Vivian frees up your team to focus on what they do best: Building relationships, closing leases, creating an exceptional resident experience

So… Ghosting Stops Here.

This dual approach of humanizing AI and empowering your team ensures:

• Every lead feels seen, heard, and valued.
• Your team has the time and tools to focus on high-impact tasks.
• Your leasing process becomes more efficient—without losing the personal touch.

In today’s world, AI shouldn’t just automate—it should elevate.

Ready to see the difference? Meet Vivian.

1. Artificial Intelligence Revolutionizes Property Management

Artificial Intelligence (AI) is reshaping the property management landscape, automating tasks, and enhancing overall efficiency through machine learning algorithms. The use of AI in property management is quickly emerging as a game-changer for the industry. These include reducing costs, automating repetitive or routine tasks and increasing lease conversions.

By adding an AI component to your property tech stack, you can improve both operations and customer service. For example, chatbots, a form of AI, are becoming integral in providing personalized interactions, answering queries, and aiding in tenant conversion, aligning with the broader trend of personalization in marketing. (Our LeadManaging marketing tool integrates both AI chatbots as well as AI call scoring.)

2. Remote Work Flexibility Endures

The paradigm shift towards remote and distributed work, accelerated by the pandemic, continues to influence property management. The focus is not merely surviving but adapting to flexible work arrangements, valuing employee time, and leveraging a global workforce. Job postings featuring “remote” or “hybrid” locations remain prominent, emphasizing the ongoing importance of flexibility.

This means the industry will have to adapt as well, by embracing tools and technologies that allow for collaborative, accurate work, no matter where employees are working. Tools like communication portals are no longer optional; they are a business necessity that enables property professionals to collaborate in real time another. These portals also act as a centralized communication hub, keeping property professionals aligned.

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3. Marketing Automation Streamlines Operations

When ads are spread across multiple ILS, staying on top can be both challenging and time-consuming. In 2024, marketing automation will continue to gain prominence as property management firms seek efficiency.

Automation extends to responses for information requests and streamlining digital marketing efforts across various platforms. Centralized property management marketing software simplifies the process, ensuring up-to-date listings and enhancing turnover times.

4. Real-Time Data and Analytics Drive Decision-Making

In the fast-paced world of property management, a forward-looking approach is crucial, and a rear-view mirror approach to data just won’t cut it. As we move into 2024, a multitude of technological advancements is shaping the way property management businesses collect, interpret, and act on data. Companies are intensifying their data strategies to facilitate quicker decision-making. Data analytics proves instrumental in identifying effective marketing channels, predicting maintenance needs, and optimizing budgeting.

To get real-time data that can give you an immediate and actionable view to your property, you need to know your vacancy rates, arrears and legal cases, and open maintenance requests. These KPIs are crucial to understanding your cash flow situation and the physical condition of your property. Property Vista’s business performance module includes online KPI reporting and a dashboard that are specifically designed to help you make smart, informed decisions that will increase revenues across your portfolio.

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5. Heightened Focus on Cybersecurity

As technologies advance and connectivity becomes ubiquitous, both organizations and individuals have grown increasingly vulnerable to dangerous and indiscriminate cyberattacks. Add to this the rise of sophisticated ransomware attacks, and it’s little wonder there has been a surge in emphasis on cybersecurity to safeguard resident and owner information. In the 2024 Gartner CIO and Technology Executive Survey, 80% of CIOs reported that they plan to increase spending on cyber/information security in 2024.

Cloud-based property management software will continue to dominate the industry as it is designed to protect PM organizations from the most recent malware and hacking strategies with firewalls and by proactively protecting against future threats. Cloud-based property management solutions with robust encryption, user-permission settings, and automatic updates are increasingly adopted to enhance security and minimize vulnerabilities.

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How Property Vista Helps

Property Vista is a cloud-based property management solution that helps real estate and property management firms to track property tasks and functions. From advertising rental properties to collecting rental payments and more, Property Vista handles it all. We offer users a vendor management module, accounting capabilities, a lease management system, portals for tenants and owners that help parties to communicate and much, much more. Check out our pricing.

]]> https://propertyvista.com/blog/ultimate-guide-to-rental-property-maintenance-strategies-for-long-term-success/ Tue, 21 Nov 2023 00:00:00 +0000 http://propertyvista.wwwaz1-tr2.supercp.com/blog/ultimate-guide-to-rental-property-maintenance-strategies-for-long-term-success/ Professionals in the real estate industry understand that the way they handle maintenance issues has a direct impact on leasing and turnover. The quality of property maintenance and the speed of response to tenant requests are key factors in lease renewals. Neglecting or delaying maintenance requests can lead to tenant frustration, causing them to look for a new place to live.

Because one of the significant allocation of resources in building management is property upkeep and maintenance, it’s vital to get it right. It’s a major challenge to optimize property maintenance strategies in order to strike a balance between satisfying tenants, ensuring property value, and reducing costs.

Savvy property management companies view maintenance as a profit centre rather than a cost center. Why? Because continuously improving maintenance performance can positively influence organizational performance, leading to cost reduction and lower business risks.

This guide covers:

• Preventative Maintenance

• Budgeting for Maintenance

• Finding Reliable Contractors

• Tenant Communication

• Emergency Maintenance

• Documenting Maintenance

• Sustainable and Green Maintenance Practices

Preventative Maintenance

Preventive maintenance is a proactive approach to equipment and property upkeep, involving scheduled inspections, servicing, and repairs to avert breakdowns and extend the life of assets. This strategy aims to minimize downtime and reduce repair costs, as well as improve the overall reliability of equipment and efficiency of the maintenance function. Routine maintenance also adds value to your tenants’ experience, as they can see that the property is well-maintained.

Key areas of focus for preventative maintenance include:

• HVAC systems

• Electrical systems

• Plumbing and water

• Roof repairs/inspections

• Landscaping and outdoor facilities

• Pest control

• Safety and security systems

Pro Tip: Check out our spring maintenance checklist and fall maintenance checklist.

Budgeting for Maintenance

Property management maintenance is a crucial aspect of ensuring the long-term financial health of a property. When budgeting for property management maintenance, property professionals must allocate funds for routine upkeep as well as unexpected repairs. Failing to plan for maintenance expenses can lead to financial strain and decreased property value over time.

Creating a maintenance budget for property management involves a strategic and systematic approach.

• First, property managers should conduct a thorough inspection and assessment of the property to identify potential maintenance needs. This includes evaluating the condition of the building’s structural elements, mechanical systems, and common areas.

• Once the maintenance requirements are identified, it’s essential to estimate the associated costs, which may include routine tasks such as landscaping, cleaning, and painting, as well as more significant expenditures for items like roofing or HVAC system replacements.

• The budget should also account for emergencies and unexpected repairs by setting aside a reserve fund. By creating a well-structured maintenance budget, property managers can ensure that funds are available to address upkeep needs promptly, which can ultimately protect the property’s value and the satisfaction of tenants or residents.

Finding Reliable Contractors

Property managers are no strangers to receiving emergency repair calls 24/7. The unpredictable nature of maintenance underscores the importance of establishing strong relationships with reliable vendors. Building a vendor list that includes trustworthy professionals is essential.

Effective vendor management involves fostering a collaborative partnership with your suppliers and service providers, rather than solely focusing on negotiating the lowest price.

It’s advisable to have three or four vendors available for each category (plumbing, electrical, HVAC, etc.) to ensure immediate response to emergencies. Soliciting feedback from vendors and maintaining open communication can help identify and address potential issues before they escalate.

Tips for Better Vendor Relationships

• Have Clear Rules of Engagement: Set expectations and performance guidelines at the very beginning of the relationship. And, then revisit and report on them periodically. When both parties know exactly what is expected and by when, the odds of a successful project and partnership instantly increase.

• Open Communication is Key: Regular contact with vendors isn’t always the same thing as good communication. In addition to the back-and-forth concerning various jobs, encourage periodic check-ins with key vendors, a few times a year.  Get their feedback on how things – the relationship, processes, the property, etc – might be changed or improved.

Learn about our vendor management solution here.

Tenant Communication

Keeping tenants informed about property maintenance is essential for maintaining a positive landlord-tenant relationship.

• Planned Maintenance: Regular and transparent communication helps manage expectations and minimizes disruptions. Landlords should provide tenants with advance notice of planned maintenance, outlining the scope of the work, expected start and completion dates, and any potential inconveniences. This allows tenants to make necessary arrangements, and it demonstrates a commitment to their comfort and well-being. Open lines of communication also encourage tenants to report issues promptly, fostering a cooperative environment that benefits both parties.

• Maintenance Requests: Handling maintenance requests in a timely and efficient manner is paramount to tenant satisfaction. Landlords or property managers should establish clear procedures for submitting and tracking maintenance requests, making it easy for tenants to report issues. Respecting their privacy and property during repairs, as well as making sure that maintenance personnel are professional and courteous, can go a long way in maintaining a positive tenant-landlord relationship. Providing a feedback mechanism for tenants to express their thoughts or concerns about maintenance services can help improve the overall experience and foster a sense of community within the property

Emergency Maintenance

What constitutes an emergency? It comes down to any building issue that has the potential to cause injury to a tenant or visitor, seriously damage the property or is a threat to health and safety. Typical examples of emergency maintenance include frozen or leaking pipes, fire, gas leaks, flooding and sewer backups, no heat in the winter, and faulty electrical work, among others.

These unforeseen expenses and emergency repairs can arise when least expected. Maintaining a reserve or contingency fund ensures you’re prepared to address these situations. Any unused funds can be rolled over to the next year’s budget or invested in property improvements that enhance tenant and owner satisfaction.

Don’t forget, as the frontline of emergency preparedness, property managers need to have a strong communications plan and a strategy to ensure that tenants are safe and any damage to the building is kept to a minimum.

If your building does go through a crisis, be sure to conduct a thorough post-event review. Look at what happened and what you can learn from it to be more prepared for future emergencies.

Documenting Maintenance

Maintenance records are a critical component to protecting your assets. By keeping digital records of building maintenance and repair requests, it allows property managers to analyze trends across their portfolios. This data can help identify properties with higher maintenance needs, facilitating predictive maintenance planning and capital investment allocation.

Paper-based documents are a waste of time as inevitably the information needs to be re-keyed into your system, which not only is redundant but can result in errors. Sadly, paper-based work orders and repair requests can get lost or misplaced, resulting in delays. By moving to a digital web-based solution for submitting maintenance requests, and capturing inspection information, property managers can save hundreds of minutes per day.

By harnessing technology, like maintenance software, you not only have easy access to documentation, but you also have clear visibility into requests 24/7.

Sustainable and Green Maintenance Practices

Property managers and landlords seek ways to reduce costs while maintaining tenant satisfaction. Implementing green practices to improve energy efficiency strikes a balance between cost savings and appealing to renters. Here are some cost-effective solutions:

• Replace outdated appliances with modern, energy-efficient models to save on energy and water costs.

• Update bathrooms with water-saving fixtures to reduce utility expenses.

• Install programmable thermostats and ceiling fans to cut energy costs.

• Use energy-efficient blinds or window treatments to reduce heating and cooling expenses.

Property managers and landlords are always looking for ways to reduce expenses but also maintain tenant satisfaction. Greening your property to make it more energy efficient is the way to achieve that perfect balance of cost savings and renter appeal. In addition to the obvious environmental and cost-saving benefits, making a few changes can also really increase the appeal of your property.

Conclusion

Proactive maintenance practices are the best way to protect your property portfolio and also ensure tenant satisfaction. Forward-thinking property management firms and owners will have a budget set aside for routine and emergency repairs, as well as a communications plan for any unforeseen disasters. By curating a team of experienced vendors you can ensure quality repairs. Technology can (and will) go a long way in documenting and predicting maintenance.

How Property Vista Helps

From automated maintenance request confirmation emails to being able to instantly schedule and assign work orders, the Property Vista solution is designed to eliminate paperwork, automate processes and create a digital record of all activities. Your property staff has a centralized location to track and monitor all maintenance activity and manage resident communications.  To learn more about how you can improve your maintenance management, see pricing and get a demo.

Creating a Sales Funnel on Your Website

Let’s dig into the key apartment website design features that have a direct impact on your leasing and marketing efforts by creating a powerful sales funnel.

1. SEO

First things first… In order to drive new leases, people need to be able to find you. When you optimize your website, you can immediately draw in more prospects. Advanced property management software allows you to not only create a website but to also include your keywords in specific locations for better optimization. These include the “behind-the scenes” locations like page title and page description, as well as on-page content factors like the name of the building, its address, your province and the type of unit that is available (studio, one-bedroom, two-bedroom, etc.) Our solution includes a built-in AI SEO assistant as well as free SSL certificates which can help improve rankings.

2. Photos + Video

Now that people have found you, you need to wow them. They say a picture is worth a thousand words, and it’s true – your prospects need to be able to see themselves living in the property. Make sure the lighting shows off the rooms to their best and include some detail shots. Typically, you should have around 10-15 photographs and videos per property, showing the outside of the property as well as nearby attractions, and each one of the rooms.

If you aren’t using video, you probably aren’t converting as much as you could be. Research shows that videos are the best way to get people to not only remember your message, but also to act on it. Your prospects are interested in seeing video tours of the property, showcasing common areas and any amenities. And, be sure to think outside the tour! Use video to get creative and include resident testimonials, or the Top 5 reasons to live in your multifamily property.

3. Maps

Prospects are interested not only in the building but in the neighbourhood. By incorporating maps into your listing, you can highlight nearby dining, entertainment, parks, and transit options get prospects excited about your properties. For example, with our Vista Websites you can create interactive maps that zoom in and out and enable prospects to get exact distance and travel time between the property and nearby destinations.

4. Prospect Communication

Drive up lead-to-lease conversions by improving communication with prospective residents. With property management software, like our Lead Managing tool, you can automate much of the communication with leads, to not only make sure that no lead falls between the cracks but to also improve the customer experience with instant responses. For example, chatbots can eliminate wait times by providing timely information about the property or rental polices, and they also free up your sales/leasing team for more complex needs. 

Did you know that prospects who make an appointment to see the unit are 3Xs more likely to convert into tenants than leads who just make an inquiry. A chatbot can easily help prospects schedule a tour by collecting their contact details, which unit they are interested in and what time and date the potential resident is available. This info is automatically sent to your leasing team.

5. Seal the Deal with Online Applications 

Not only do online applications save countless hours, but they also make it for prospects to apply anytime, anywhere. They can easy fill in their details and add a guarantor if needed so that you can capture all information while your prospect is excited about the property.

Pro Tip: Be sure to integrate a built-in screening tool that automatically checks credit scores, criminal and eviction history, income, and rental history. It provides a seamless experience for the prospect as well as gives you with all the necessary information to make informed decisions about applicants.

How We Help

Renters today want to find pertinent information quickly on your website – price, photos and location. Build websites for your listings within days with Vista Website’s intuitive website builder, whether you’re managing your own properties or your clients. We provide the templates so you can simply plug and play. No technical experience required!

As well, our code-free AI chatbot can be set up in minutes with a few simple steps. It is always available on your website to respond to inquiries, qualify leads, and book tours. With our call recording and AI call scoring, you can analyze your prospect calls to optimize your messaging, enhance the leasing experience, and drive occupancy. Want to learn more? Book a demo to start a conversation.

What’s the Big Deal About AI?

Estimates suggest that the AI market could be worth as much as $14 Trillion by 2030. Many people believe that 2023 marks the turning point for artificial intelligence as next-generation AI holds the promise of “once-in-a-generation productivity gains by automating repetitive tasks and freeing up employees for higher-level functions.”

AI property technology is quickly emerging as a game-changer for the PM industry. There are new and exciting ways to integrate its capabilities into your business such as: 

• Automating routine tasks to drive up productivity 
• Increasing lease conversions
• Improving customer interactions
• Reducing costs 

Let’s dig into the details about how AI can improve performance and accelerate growth, specifically within the lead cycle.  

Using AI Leasing Assistants to Answer Prospect Inquiries and Book Tours

Leasing pros know that the lead-to-lease cycle can be chaotic. Emails and phone call inquiries come in at all times of day and night and need to be responded to quickly. Industry stats show that only 20% of sales calls get returned within 24 hours. That means that 80% of your potential leads are likely gone from the get-go. Expectations have changed, and if you make potential renters wait over a day to get a return call, they’ve most likely moved on.

This is where AI can be a boon for leasing managers. By adding an AI component to your existing property tech stack, you can add a chatbot to your website or use AI to automatically respond to potential renter telephone inquiries. In either case, interested renters can get answers and instantly book a tour. If you are using our LeadManaging solution, which includes VistaVoice, our AI-driven leasing assistant, it ensures that you never miss another call.

Better yet, the information acquired by the AI tool, like the name of the lead, the date and time of the tour are then auto-populated into your leasing managers’ calendars, cutting out all the hassle, keeping them organized and allowing them to focus on closing the deal.

Using AI to Get Rid of Repetitive Work and Reduce Costs

Even five years ago, the property industry was notoriously paper-heavy. And, while the uptake of property management software has greatly increased, without the right tools there’s still plenty of repetitive work. By using AI in tandem with automation, you can eliminate the low-value work that fills up your day. And, as an added bonus, unlike human leasing agents, AI isn’t bored or fatigued by repetitive tasks, which means there’s a reduced chance of errors.

Our LeadManaging solution easily captures all the prospect communications, the advertising sources they came from, buildings and units they are interested in viewing, and automatically generates a guest card. Once the prospect schedules a tour the information is integrated into the leasing agent’s Outlook365 or Gmail calendar with custom automated notifications, reminders and follow ups. No more cutting and pasting information between systems.

AI can even take the headache out of call scoring. Call scoring provides valuable insights into the effectiveness of prospect interactions by evaluating phone conversations between your leasing agents and customers to drive customer satisfaction and business success. With AI, you can reap the benefit of ongoing agent development, allowing you to reduce call handling time, and improve first-call resolution and booked tour rates.

Using AI to Improve the Customer Experience

AI and the customer experience is quickly becoming inextricably linked. Why? Because AI can create frictionless positive interactions for your potential renters. When you implement AI solutions, like a chatbot, you are empowering your leads to be their own advocates and problem-solvers. Your future resident can ask questions and get answers right away, whenever they want. By offering 24/7 customer support (without the cost of human customer service agents), website users get the info they need when they need it.

How We Help

Our code-free AI chatbot can be set up in minutes with a few simple steps. It is always available on your website to respond to inquiries, qualify leads, and book tours. With our call recording and AI call scoring, you can analyze your prospect calls to optimize your messaging, enhance the leasing experience, and drive occupancy. Want to learn more? Book a demo to start a conversation.

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Here are the key capabilities property owners expect when working with a property management company.

1. Smoother Daily Operations

Owners turn to property management companies to relieve the headache of running the day-to-day operations. They no longer want that burden and want a company that can manage everything efficiently. No matter whether it’s a large multifamily property or a portfolio of single-family homes, an owner expects the property manager to:

·            Handle tenant requests and complaints efficiently and professionally;

·            Have a proven plan in place for any unforeseen emergencies;

·            Manage all maintenance and repairs;

·            Ensure rent is collected on the due date;

·            Make sure the provisions of all leases are followed.

In today’s highly competitive marketplace, it’s mission-critical for property management companies to use industry-specific software to optimize, automate and streamline all daily operations.

2. Ongoing Improvement of Tenant Quality and Retention 

Hands-down one of the key things that owners look for in a property management company is the ability to reduce turnover and keep their units rented with a quality tenant. 

Leading property management firms will be able to demonstrate that they have a clear marketing strategy aimed at targeting the ideal tenant, as well as a framework for making sure no lead is lost. To ensure quality tenants, the property owner will be looking for a systematic, unbiased system for tenant screening, like our integrated screening tool powered by Equifax iDecision that automatically checks credit scores, debt, criminal and eviction history, income, and rental history, providing all the necessary information to make informed decisions about applicants.

3. Strong Marketing Capabilities

It’s very simple: owners and investors want to keep their properties rented. When looking for a property management firm, owners will want to see that the company knows how to successfully attract potential renters and convert them into signed leases. Property management companies that can clearly demonstrate that they know how to drive successful marketing campaigns to reduce turnover time as well as keep costs down by using only the most profitable sources.

Pro Tip: Take a look at the Top 5 marketing tools every property marketer needs.

4. A Partner, Not a Vendor

Owners are looking to property managers to act like a true partner to help their investment grow. From safeguarding and maximizing their investment to reducing costs (but not tenant happiness) to proactively bringing opportunities to their attention, investors want someone who thinks the way they do – like an owner.

Crucial factors that owners want to see are that the property management company understands both short and long-term business goals, can set KPIs to monitor those goals, and has the ability to tap into data to ensure profitability. For example, with Property Vista’s dashboards, property managers can monitor real-time occupancy rates, rent collection, maintenance requests, and other crucial metrics at a glance. And, complex data sets can be simplified through intuitive charts, graphs, and interactive visualizations.

5. On-Demand Reporting 

From balance sheets to profit-and-loss statements, building owners need to know how their investment is doing at any given time. Owners want a property management company that can provide on-demand reporting. Our Accounting and Payments module enables property professionals to easily create budgets, calculate the owner distributions and deduct management fees, and create custom reports for owners that they can securely access through an owners portal.

Give Them What They Want 

Owners need a solid overview of their investments in your properties – the health of finances and operations, repairs and maintenance, access to legal documents and accounting reports – ensuring their investment is running smoothly and earning them a profit. If you’re interested in seeing how our owners’ portal and reporting tools work, be sure to check out pricing and book a demo. 

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Why a Sprint?

Because the property management landscape shifts quickly, annual planning is a thing of the past. Unpacking bigger yearly goals into more manageable quarterly tasks allows you to pivot and adjust with the up-to-date metrics to keep your organization moving forward.

A three-month (or 90-day) plan is the perfect amount of time for making projects and the subsequent tasks involved both manageable and focused, while also giving you enough time to really make an impact.

And, for this particular October to December sprint, it’s all about planning and setting up your property management business for success in 2024.

Get Clear on Your Goals

To position your organization to grow and thrive in 2024, this October it’s time to create a rough outline of what you want to achieve in the year ahead as a whole. Set a minimum of 2-3 main overarching goals. You need a “big picture” that should be used as a north star for setting specific goals for the year. From successful lease-ups to lowering operational costs by X% or improving tenant retention, the goals you set now will cascade into four strategic quarterly plans that will act as laser-like trajectory for achievable goals.

Pro Tip: Ensure that your goals are “SMART goals” – get tips and techniques for setting goals here.

Break It Down

Now that you have your big picture for 2024, in November, it’s time to break these goals down into key milestones throughout the year ahead. Sketch out each quarter of 2024 (Jan-March, April-June, July-Sept, Oct-Dec) connecting the dots between the simpler next steps and required tasks of the various quarters to each one of your overarching yearly goals. For each quarterly segment, really consider how it acts as a catalyst to the next quarter, progressively moving you towards your desired outcome.

Assemble Your Team

By mid-to-late November, it’s time to gather the team and review the strategic plan for 2024. This includes setting the vision for the team, and then showing how that vision breaks down into four 90-day sprints. Ensure that each person understands their role in the overall plan, and exactly what needs to be done in the Jan-March sprint, so that when the team returns after the December holidays there is no lost time. A town hall approach allows your team to ask questions and raise concerns. If you need to make some adjustments to your plan, now is the time. At the end, it’s important for everyone to be on the same page and have clarity on the big picture and understand how these goals cascade down to accountable deliverables for each team member.

Assess Your Technology

As a growth-oriented property management business with a plan in hand, do you have the tech-stack you need? If marketing your properties is a priority, do you have everything you need to monitor which marketing channels give you more bang for your buck and deliver quality tenants? If your goal is to lower maintenance or operational costs in general, do you have the insights of an integrated accounting solution to see which buildings are costing you the most amount of money and why? If you are looking to reduce tenant turnover, do you have the tools in place for surveys? Can you and your team effectively collaborate, with everyone having access to the information they need to do their jobs?

Pro Tip: If improving customer satisfaction is one of your goals, download our template for tenant satisfaction surveys here.

Know What Success Looks Like

So now you have four sprints outlined for 2024. How will you know you are on track and successful? Have a means of securing quantitative data for each sprint. Typically, these are measurable KPIs that provide insight into how well your plan is going. (See our guide to Top 10 KPIs for property management companies here.) With your team, establish the KPIs you want to target for January to March. Set check-in points (e.g. end of Month 1, midway, etc.) to review the KPIs, and see where you stand.

Prepare to be Agile

After you and your team have agreed upon your objectives and reviewed your technology needs, it’s time to think of your four upcoming 2024 sprints as living documents. Markets change, priorities shift. You need to be able to adjust as you go. If you do accomplish your Q1 objectives, go ahead and celebrate! Reward yourself and the rest of the team and then it’s time to review the next 90 days. Is the plan still relevant? If yes, proceed. If not, adjust accordingly. Did you fall short anywhere? If you did, figure out why. Were your goals too ambitious for a 90-day period? Do you have the resources (people, processes, technology, etc.) to realize your objective, or do you need to bring in a new hire, new property management software or something else?

Before you sign off for the December break, take a deep breath and know that your plan is not carved in stone. Nor is it meant to be. It’s a catalyst for a more agile, more successful property management team.

Good luck!

Can We Help You Achieve Your Goals?

Sometimes it’s hard to see your business through all the doors. That’s why Property Vista was created. We’re what your renters expect. What a property management software platform should be. Instantly on. Super flexible. Brilliantly convenient. Completely integrated. All in one place.

If you’re looking to fix your property management system, we can help. To learn more about what you can do to streamline processes and become more profitable through automation and other technology solutions, book a demo with us today!

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A positive tenant experience can boost lead conversions as well as reduce turnover, while poor experiences can lead to lost opportunities, higher marketing costs and the potential for bad reviews. So, it’s important to enhance the customer experience at all possible touchpoints.

Here are seven strategies to get you started.

1.  First Impressions Can Make or Break

First impressions go a long way in fostering a positive perception of your business and the building. Carefully examine the lead process to verify that it’s easy for prospects to book a tour online or get information about the unit. For instance, with LeadManaging’s scheduling tool, prospective renters can book their tours at their own convenience.

Do prospective tenants have the ability to apply for the unit online as well as sign the lease once accepted?  Or do they have to fill out paperwork, and print, scan or fax documents back to the property management office? Tenant expectations have changed, and technology like online applications and lease signing provide a frictionless experience to both you and your tenants.

2. Empower Your People

Much of a tenant’s experience can be directly tied back to an employee interaction. If your people don’t have the tools necessary to collaborate with other team members or do their job efficiently, it can affect their ability to perform and deliver a positive customer experience.

To empower your people to delight prospect and tenants alike, ensure that:

·  They aren’t hindered by low-value work. Too many property management teams find themselves stuck in the weeds, held back by tedious administrative and manual tasks that could be – and should be – automated.

·  You create a customer-focussed culture. Be sure to assess if your property professionals from upper management to the frontline agents all understand your commitment to customer service, and the values of your organization.

·  Collaboration is effortless. If your departments are siloed, it is increasingly difficult to deliver exceptional customer service. From the hand-off of a lead enquiry to an agent, to the ability of property managers to coordinate building inspections between tenants and inspectors – many tenant interactions require collaboration between teams and departments. Breakdowns in collaboration between property teams and tenants are the root cause for many less-than-stellar customer experiences.

3. Understand the Journey Doesn’t End

The leasing experience doesn’t come to an abrupt stop once the lease is signed. It’s essential to manage both the pre-and post-lease elements of the tenant experience. While it may be tempting to focus more heavily on the interactions leading up to the signed leasing agreement, the post-lease stage is equally important to building a complete tenant experience.

It can be helpful for all members of the property management team to visualize the customer experience by mapping out the client journey across all lead/tenant touchpoints. Beside each touchpoint list the customer’s need and expectation. This will help to point out any gaps as well as align your team (leasing agents, marketers, property managers, etc.) on how they need to perform at each touchpoint.

4. Improve Communication

The old adage “It’s not what you say, it’s how you say it” has stood the test of time for a reason – it’s true! When there are unforeseen maintenance issues, tenants want to know what’s happening and when something will be repaired. Leverage a communications solution to talk to tenants early and often in any emergency situation. It’s also essential to communicate with tenants throughout their occupancy. It’s good practice to highlight upgrades and any new building amenities to help residents to see why they should stay when the lease is up. 

5. Offer Flexible Payment Options

Most tenants do not want to pay rent by cheque. And, throughout their lease, they may wish to change their payment method, paying by debit one month, and by credit card the next. By giving your renters numerous ways to pay their rent, you can not only make it much more convenient for them, but you can instantly reduce late payments. Our flexible payment system,Vista Pay allows you to collect rent online, and you can even easily divide up rent payments between co-renters, for their convenience.

6. Put the Power of Self Service in the Hands of Tenants

Tenants want to be able to solve their own issues rather than pick up the phone and call the property office. When residents can take control of things like (as mentioned above) changing rent payment methods or getting a status update on a maintenance request, it vastly improves customer satisfaction. Self-service empowers tenants to do-it-themselves whenever – and wherever – it is convenient for them.

7. Practice Appreciation

In addition to the “business as usual” communications, don’t forget to show the human side. Everyone likes to be appreciated, and little things can make a big difference. You can:

·  Hand-deliver a welcome package upon tenant move-in.

·  Use a tenant portal to send a birthday greeting or, for high-quality tenants, offer a perk like a free month of parking for lease renewal.

·  Recognize residents who have made a difference on your community board or in your newsletter.

·  Arrange a tenant appreciation event once a year in a common area.

·  Follow up on repairs to ensure your tenant is truly happy with the service results. (With our Maintenance & Inspections module, it’s effortless to coordinate repairs as well as follow up and ask residents to rate their repair work.)

To discover how Property Vista can help you improve your operations and drive outstanding customer service,  request a demo here or use our ROI calculator to see how you can benefit.

5 Essential Marketing Tools

Across Canada, there are thousands and thousands of property management companies. And when you’re up against that kind of competition, you need a targeted marketing strategy and the tools to execute on it. That’s why multi-family property management companies rely on property management marketing tools to maintain listings, generate leads and stay top-of-mind with prospects. (If you are putting together your growth strategy for 2024, dive into this guide to setting profit goals.)

Let’s look at five of the must-have property management marketing tools that help to turn leads into leases. 

1. Automation 

The more you can automate, the more scalable and efficient your marketing process will be. Automation, like the ability to automate responses to potential renter inquiries, saves hours per week. The other huge advantage of automation means that you can calm the chaos of multiple ILS channels. For instance, Property Vista’s internet listing syndication feature  allows you to update  multiple listings on multiple ILS platforms with new photos, new floor plans, and rental rates all in one place, right within the platform, so you can fill vacancies faster while freeing yourself from manual work.

2. Prospect Communication Tools

When it comes to prospects, the rule of thumb is to communicate early and often, and on whatever channel is most convenient for your lead. From the ability to communicate to leads via email, SMS, phone, and intercom (and track them all the way through the prospect funnel) to automated call routing and lead distribution, you need an arsenal of powerful communication tools at your fingertips to ensure that prospects get the decision-making info they need and no one slips through the cracks.

Pro Tip: Shorten lead-to-lease cycle and qualify leads automatically with a 24/7 chatbot. Our code-free AI chatbot can be set up in minutes with a few simple steps. It is always available on your website to respond to inquiries, qualify leads, and book tours.

3. Omni-Channel Attribution

Data-driven insights help you refine and optimize your marketing initiatives. How are potential renters finding your available units? Are you getting referrals from organic search, a specific listing service or old-fashioned print media? Don’t waste precious marketing dollars. Invest in the channels that work and cut out the ones that don’t. Insights into which channels drive the best leads helps you to optimize your investments to lower cost-per-lead, improve lead-to-lease conversions, and boost rental occupancy. Ideally, you should have a lead management tool built specifically for multifamily property management to help to attribute your leads

Pro Tip:  Take a look at our complete guide to multi-family lead management.

4. A Conversion-Driving Website

Did you know over 90% of the people who visit your website aren’t ready to commit? And, quite frankly, that’s okay. Because your website’s job is to move them further along the funnel – to fill out a form to get more information, see a virtual tour, or book a visit. This means that your website has to give potential renters the self-service they want: the ability to get more info about an available unit by text message or email, receive alerts about upcoming vacancies or book an appointment to see the property. Of course, it goes without saying that any website today must be responsive and look good on both desktop and mobile.

Build websites for your listings quickly with our intuitive website builder, Vista Websites. We provide the templates so you can simply plug and play. No technical experience required!

Pro Tip: Savvy marketers also use Google Analytics to examine their most popular pages, engagement rates, and website traffic over time. Get tips on how to increase conversions here.

5. Real-Time Insights

Without a cloud-based property management solution with real-time data, decision-making marketing information is isolated between departments and even “siloed” in spreadsheets on someone’s desktop. When property management professionals have access to real-time data about all their properties through a cloud-based solution it means that all information that is current, comprehensive and consolidated.

When you can monitor your business with real-time marketing data it becomes easier to lower costs, generate more revenue, attract new tenants, and ensure your company’s success. With a consolidated dashboard, property management can dig deep into follow-ups, conversions, engagement and call logs, no matter whether it’s from an individual, building, or portfolio level. 

How Property Vista Helps 

Property management marketing software gives you transparency into your digital marketing efforts so you can better spot where your ads are bringing in the most amount of quality leads. To learn more about how Property Vista can help give your marketing efforts a boost, including mobile-friendly websites, ILS automation, and much more, be sure to check out our pricing and book a demo at propertyVista.com/pricing.