Time-Savings

How Much Time/Money is Automation Saving?

During a typical conversation around automation technology, a question that often comes up is, “How much time and money is automation saving me?”  We’ve got the answers you’re looking for.

The Data

Let’s look at what automation does in a given month for an average property when deployed on a property website and additional channels in the digital marketplace. Other channels could include  Facebook Messenger/Marketplace, Google Ads/MyBusiness, Yelp, Instagram, YouTube, etc.

For example, BetterBot’s Multifamily automation solution saves an average of up to 100+ hours (per property, each month), which allows team members to focus on more critical tasks. 

On average, 300+ unique prospect conversations occur through the solution (per property, each month). Because the average person uses the 1.9x, that’s nearly 600 total conversations/property/month. 

Out of those conversations, teams can expect an average of 36 appointments set. BetterBot qualifies those prospect conversations and sends through the traffic that is most likely to convert. Which, in turn, saves the team time. And those appointments have around a 90% show rate. A call center is around 50% in show rate; a typical property scheduled appointment is approximately 60%. So when prospects schedule an appointment through BetterBot, they show! 

The average time is 16.3 days from when a prospective renter first engages BetterBot to when they fill out an application.  That’s between 1/2 to 1/4 the time of a typical ILS.

The Increase

When property marketers deploy the BetterBot automation solution, they often see an immediate lead, conversation, and appointment bump of 20%+.  Why? Today’s consumer, especially the renter demographic, is less and less inclined to make phone calls and doesn’t like filling out web forms.  Often they’ll just pass through your social outreach, ads, and website without engaging. But they’ll engage with conversational technology, especially a quick system, that provides what they’re looking for in less than a minute. This is essentially putting a fuel additive in your marketing gas tank to drive more efficiencies in your consumer outreach.

The easiest way to quantify the value of the increase is simply to figure out how much it would cost to drive 20% more leads, conversations, and appointments to your respective properties. 

Additional Considerations

What’s not being factored into the above calculations is: Automation works 24/7/365, doesn’t get snowed in, doesn’t need sick days, nor requires benefits. It can handle 3, 5, 20…an unlimited number of conversations covering a dozen topics simultaneously. Automation can be deployed on virtually every digital channel to meet and greet prospective renters anywhere instantly, at any time. Automation can look up and coordinate complex calendaring and appointment scheduling in seconds, see and convey unit availability and pricing in under a second, show virtual tours and videos at the click of a button, and so much more.

Automation-Savings

Devin Lusk, Director of Marketing at American Landmark, shares, “Everything was so just manual before BetterBot. You miss phone calls, and you miss prospects. BetterBot is just so amazing because it’s my favorite system that we have. BetterBot makes our lives so much easier. It’s so hands-off, and it’s just the easiest system that we have.”

In conclusion, let’s be very clear: Bots will never replace humans. They simply create efficiencies of marketing scale while reducing repetitive tasks that humans either don’t do, don’t like to do, or don’t do very well.  Humans will always be needed to handle interactions that require thought, empathy and complexity. So let’s let humans be humans and utilize automation to do the rest.

Property management widget

How to know which widgets to keep (and which to ditch)

Before we dive into talk about widgets, imagine you’re flying into beautiful Las Vegas, Nevada, at night time. You can see all the bright lights, flashing neon signs, and the busyness of people milling around. It’s breathtaking and fun to look at. However, what’s not fun is when your website emulates Las Vegas’s same busyness. Imagine considering moving to an apartment, going to a property website, seeing flashing buttons, call-to-actions everywhere, and, well, just general busyness.  It’s not only hard to navigate, and it’s just plain hard to look at. 

Many tools, widgets, and solutions are available today that help your prospective renter.  There’s a better way of going about this. So how do you narrow down the essential widgets for your business? Here are three questions to consider when evaluating which widgets to keep and which to ditch.

What is the end goal of this widget? 

Consider what the end goal of your widget is. Bot technology (when done right) isn’t just one more thing to add to a property website and other marketing channels. The right kind of widget can carry all of those other widgets, and their functionality within the bot experience freeing up your site so it can breathe again. Most property management teams are focused on leasing up their communities. Having the right widget on your site can help achieve this goal.

What value is this tool bringing? 

It’s essential to consider what value this tool is bringing. For example, BetterBot customers typically see a time savings of 56 hours a week per property each month by utilizing automation. That’s valuable time the on-site team saves to shift their focus to more critical tasks. In the case of Campus Life and Style, not only were they able to save a monthly average of 74.9 hours per property during 2021, but they also greeted over 1,500,000 guests along the way using automation. When evaluating which tools make the most sense for your business, consider their value to your teams.

Does it streamline a process? 

Think about if the widget is making a process more straightforward. For instance, BetterBot’s solution streamlines the beginning stages renters typically go through. The bot pops up and says, “Hey, I’m here if you need me.” When engaged, the bot can provide many options and allows the prospective renter to guide the conversation. If the prospect wants to know about the pet policy or amenities, all the information is front and center. If they’re going to learn about availability, it’s easy to find if they’re going to schedule an appointment; score!  All of these actions can be met and straightforwardly facilitated by the bot. 

At the end of the day, consider what makes the most sense for your business using these three questions: What is the end goal of this widget? What value is this tool bringing? And finally, does it streamline a process? When you address these questions, it’ll help you make decisions that benefit everyone on your team.

Calculator for calculating ROI

Factors Multifamily Marketers Should Keep in Mind When Calculating ROI 

Read this before you decide to add a digital leasing agent to your team.

Multifamily marketers are a fascinating group of people. They are constantly looking over the horizon and looking for the next game-changing product on the market. BetterBot benefited from this, especially in the early days when we needed early adopters that believed that digital leasing agents could revolutionize the leasing process. 

While the initial hype may get you in the door, relationships in this industry are built on results. That meant analytical marketers quickly started requesting data that could show ROI before agreeing to move past the pilot stage and onto a portfolio-wide deployment. 

The first calculations of ROI closely mimicked estimates of other products commonly found in multifamily marketing. This meant measuring visitor and lead conversion and additional revenue side calculations. It was imperative to show how quickly a digital leasing agent could move prospects from one tier of the funnel to the next. The goal was for visitors on marketing and advertising channels to engage with the digital leasing agent and continue on the path to a scheduled tour and, eventually, a signed lease agreement. It makes sense, right?

There is nothing wrong with the ROI calculations above except that they are one-dimensional and don’t consider that digital leasing agents are designed to save massive amounts of time no matter which leasing tasks they are automating. For example, the revenue side ROI calculations make more sense in a lease-up but not nearly as much in a property with a high occupancy rate. In a high occupancy scenario, a digital leasing agent might do even more heavy lifting in fielding many availability requests but not contributing to a higher number of leases. Based on this, it only makes sense that we use the time saved as part of the ROI calculation. 

Calculating ROI correctly has never been as crucial as now due to historic labor shortages forcing property managers to rely on automation. Luckily, automation tools on the market promise to give you a return in multiples of your investment. Just make sure to ask for the correct data demonstrating time savings before committing to a solution. 

Shaking-Hands-Vendors-Integrate

Why You Should Work with Vendors Who Integrate with Other Vendors

They say collaboration is key, and nowhere is that more apparent than within your tech stack itself in business. Having software that plays well with your tech stack is incredibly important and can save your team the headache of having to do things manually. When you’re vetting whether or not to work with a new vendor, it’s worth considering how well they collaborate with other vendors too. As we’ve learned over time, the vendors who want to position their customers for success indeed often make integrations a key part of what they offer. That’s why it’s so important to take a close look at vendors who integrate with other vendors.

But why are integrations so crucial in the first place? Let’s break down a few reasons why having an integrated tech stack is critical, especially in property management. 

Why integrations are important

Not too long ago, businesses were just happy to have software that worked reliably. Nowadays, though, having software that can work with and enhance each other is key to staying competitive. And as you look to grow and scale, integrations with vendors can provide a clear pathway to success. 

Below are just a few reasons you want to have integrations on your side. 

Integration between vendors saves you time

Property management teams are already strapped for time. Teams have a lot on their hands between following up with leads, answering endless questions, and navigating shifting regulations. Doing specific processes manually only takes time away from more valuable tasks.

Integrations with vendors can provide a solution to many of those manual processes, from answering questions about your property to scheduling appointments and more. When your employees’ attentions are already so divided, integrations can help them achieve the productivity boost they need to feel in control of their workflow. 

Vendors who integrate enhance CX

Integrations can bolster your customer experience in two ways. Firstly, integrations can help address customer needs quickly and seamlessly. For example, integrating a chatbot into your tech stack helps prospective and current renters access information 24/7, 365, without having to wait on hold for a property manager to get back to them. 

Integrations also allow property management teams to take a clearer peek inside the customer journey. Take our integration with Entrata, for example: Before integrating, the only way for our team to receive leads was through email. By integrating Entrata’s Lead Manager into the BetterBot solution, we can now set attribution to the correct source whenever a prospect engages with a particular property’s marketing assets. This helps property management and marketing teams get a much more detailed understanding of exactly where leads are coming from – and which areas they need to invest more time and resources into. 

Integrations fuel growth

Having the right tools at your fingertips can help save you time, money, and resources, which can help your company scale and grow over time. Integrations make it possible to maximize the employees you do have, giving them the bandwidth to focus on the most critical aspects of their roles. And with less need to hire more staff, you can reallocate those resources to support the growth of your sales and marketing strategy.

How we approach vendors who integrate at BetterBot

We believe in the value of partnership, and this belief has helped us cultivate strong relationships across the multifamily industry. Thanks to those relationships, we’re able to offer our customers world-class solutions that integrate seamlessly into their tech stack.

We are always looking at vendors who integrate with others to form strong partnerships. As of now, BetterBot is home to over 100 integrations, including Yardi, Entrata, Rentgrata, and more. From streamlining the response process to introducing unique features like Rentgrata’s resident referral program, our partnerships have allowed us to curate a comprehensive suite of integrations to give our customers the leg-up they need to stay flexible, resilient, and competitive. 

Is your property management team making the most of your tech stack integrations? Discover our vendor list and how you can integrate your tech stack with BetterBot here

Are you a best-in-class multifamily company looking to team up with BetterBot? Learn more about joining our BetterPartner program

What Makes No-Touch Technology Powerful

The multifamily industry is constantly shifting. Facing today’s challenges has offered opportunities to adapt to an ever-evolving market as we see how the role of technology can support businesses. Many in the multifamily industry have looked to technology to help them thrive using virtual interactions. What was considered convenient has taken the role of necessity. It allows an abundance of options for current prospects and customers. That’s where no-touch technology comes in. 

When remote work is becoming a standard, we continue to emphasize and prioritize the importance of human connection in a business. For this reason, teams have used a method of rationalization to identify and simplify what prospects are looking for. This is where the role of no-touch technology comes into play. The need for renting apartment homes in a no-touch world has enabled multifamily tech companies like BetterBot to provide alternate solutions for property managers and marketers that often include automation.  

How No-Touch Technology Works

No-Touch Technology functions in the background while the leasing agent’s time is freed to focus on tasks that concern clients. Agents no longer have to answer rudimentary questions and qualify prospects concerning management properties. When using automation technology, teams can help detail prospect needs. They can also demonstrate the ease of use and build a connection that enables future tenants to schedule an appointment. Agents can connect with prospective residents differently than in the past. 

How Technology Can Be Used

While disruption has played a factor, we’ve managed to adapt to circumstances by going from scheduling in-person tours to scheduling online appointments. This way, future tenants can meet agents using FaceTime, Skype, and Zoom. Not to mention other virtual tour options integrated with BetterBot. Other options include 3D virtual property tours and video guides. Many Multifamily leasing agents have used video to provide a virtual open-house tour of the property because renters want a convenient experience. Meeting in person is no longer an obstacle in the multifamily industry. It’s important to build and strengthen client relationships even through virtual interaction. 


BetterBot’s no-touch technology is more critical than ever. In the past, some bots and other chat solutions required agents to be available if the bot couldn’t handle the conversation. With BetterBot, this is not necessary. Our definition of no-touch has been adapted to the literal sense of the meaning. Take a look at what BetterBot can do. You’ll see how easy it is to schedule 3D tours, answer questions, and lead prospects to start an online application. To learn about other tools that can your marketing, check out our article on Property Management Tools You Should Know About.

Engaging-Conversations-Leasing-Lifecycle

Engaging Conversations: 5 Must-Have Touchpoints to Add to Your Leasing Lifecycle

One of the first things we’re taught when beginning our multifamily careers is how important it is to create meaningful connections with our customers. In fact, this is ingrained into our psyche so much that you can take a peek into any of the numerous multifamily social media groups online and find overwhelming sentiments that resist popular technologies because we’re so adamant that “we the people” need to be the ones building trust, rapport and authentic relationships with prospects and residents. 

Human connection can’t be replaced, but it can be complimented. Technology can actually help us scale our relationships, so we can influence more people (because we all know that people “buy” the leasing team before they ever rent the apartment). So how can we get our smiling faces and charming personalities in front of the masses and turn those genuine interactions into a myriad of raving fans and loyal brand advocates? By engaging with our audiences at the right time, on the right platform, with the right message. Which will likely need to be accomplished with some layers of automation, because we just simply can’t be “on” all the time. But why does engagement matter and what kind of difference can it make when you get it right?   

Nearly 70% of customers say their standard for ‘good’ experiences is higher than ever, while 88% are less likely to return to a website after a poor experience. Your multifamily website is one of the first things a prospective resident visits during their search for a new home, yet leasing teams don’t get the opportunity to make a personal connection and win the prospect over until after they’ve converted on the website (i.e. submitted a guest card). 

Auditing your online leasing office (aka, your website) and implementing more conversion opportunities for your prospects can exponentially increase the number of people you’re engaging with – and, you can get your authentic messaging in front of them sooner and start building rapport before they ever have a chance to visit a competitor’s website. 

Improving your website conversion rate leads to more engagement opportunities. In fact, most multifamily websites convert at about 2%. So, an average leasing team only gets an opportunity to talk to and engage with about two out of every one hundred visitors to your website. Can you imagine if you only got to personally chat with two out of every one hundred people who visit your physical leasing office? You’d be pulling out all the stops to try to snag as many of those folks as possible before they walked back out your door. So how can we give your team more ‘at bats’ in their leasing offices?

Add conversion tools to your website.

Layer in automation that doesn’t take over the conversation, but rather converts and gives your team more opportunities to engage and show off their social swagger. A few places to start: 

Chatbots:

Bots aren’t bad. They’re also not replacing your people. They’re simply getting helpful answers to your prospects faster, so the prospect continues to move forward in the leasing process with you and not a competitor. Prospects will talk to a bot before they’re willing to pick up the phone and call a leasing office or complete your 10 questions online guest card. If they simply want to know what your pet deposit is, because they can’t find the information on your website, they’ll ask your bot. And when your bot serves up an answer that is satisfactory, these prospects stay on your website longer, delving deeper into floor plans and availability, they absorb more of your community culture and are more likely to convert into a lead your team can start engaging with. But the best part? The minute they start chatting with the bot, they become a lead. A step was just eliminated from their leasing journey and there’s no more waiting for them to complete your online guest card. The leasing team and the prospect both save time and have an opportunity to start developing rapport earlier. 

Critical CTA’s:

Take a peek at multifamily property websites and you’ll likely find that the two main calls to action on a homepage are: “Call” and “Apply Now”. But, most prospects aren’t yet ready for either of those steps. Some just don’t want or have the time to pick up the phone and call or leasing office hours aren’t convenient for when they could call. And someone usually isn’t ready to apply until they’ve seen a unit and reviewed pricing and availability. So how can you convert more website visitors into prospects with creative calls to action? 

Try implementing some of these ideas throughout your website to get prospects engaged and, submit their information so your team can start building a solid relationship with them:

  • Schedule a Tour
  • Request a Video Tour
  • Chat Now
  • Subscribe to our Newsletter
  • Sign up for Specials and Updates
  • Refer a Friend
  • Share with a Friend
  • See the View
  • Download (article, resource, blog, etc.)

Engagement matters because people are busy and more easily distracted than ever. Raise your hand if you’ve got items sitting in an online shopping cart somewhere, right at this very moment. Why are those items just sitting in your cart? Because you browsed around, saw something you liked, or maybe started a grocery order but then had other priorities take over (a meeting, family duties, a doctor’s appointment, etc.) and had to hit ‘pause’ and come back to complete your sale later. Our apartment prospects are no different. Their journey of an apartment search is incredibly disheveled and doesn’t take place all in one specific moment in time, but rather over the course of hours, days, weeks, and even months with a multitude of distractions along the way. So, the earlier we engage, the more we stay top of mind and the better opportunity we have to eventually get that prospect in front of our live leasing teams (which is the ultimate goal) because we know they can close the deal. 

Staying engaged with prospects and residents is key, because nearly 80% of American consumers say that speed, convenience, knowledgeable help, and friendly service are the most important elements of a positive customer experience and yet 32% of those customers would stop doing business with a company they love after just one bad experience. Positive, meaningful engagement can set you apart in a saturated marketplace, pushing prospects to rent with you and it can help remedy resident situations when things don’t necessarily go as planned. 

Here are five touchpoints to layer into your leasing lifecycle that will facilitate more conversions, lead to added opportunities for engagement and improve relations with existing customers. 

Automate your first response

No matter where the lead comes from – an ILS, your website, through a chatbot or social media platforms, automate the message. Automation doesn’t mean it can’t be personalized or customized with a message that is incredibly relevant to the prospect, but confirming you’ve received their request and reassuring them your team is alert and ready to be of service accomplishes three things: 

  • It acknowledges the customer is an important and vital part of your business.
  • It helps you maintain speed status. Companies who respond first, typically win the lease. Prospects are impatient and this eliminates “waiting”. Getting an instant response to them actually buys your team some time, especially because they can’t usually respond instantaneously. This gives the prospect what they want, creates a positive first impression, and still gives your team the opportunity to authentically engage as soon as they’re available to do so. 

It removes the possibility that a lead doesn’t get responded to at all.

Anticipate and Automate FAQ’s

Before a prospect ever personally connects with a leasing team, they’ve got a set of predetermined questions they need to be answered. These questions help them examine if your community is the best fit for them and helps them stay within boundaries they’ve set for their new apartment search (budget, location, pet friendliness, etc.). But, most prospects don’t want to take the time to reach out to a live agent (or wait for a response from the leasing team) in order to satisfy these small, yet important details. And yet, the content within many multifamily websites doesn’t include this very information prospects are looking for. 

Utilizing a bot or chat functionality helps you build out some additional intelligence that can help prospects find the important information and answers they’re seeking, faster. Holding information hostage and not providing it is essentially holding your prospect hostage; it keeps them ‘held up’ in the early phase of their apartment search and keeps them from being able to move on to the next important step, which is typically scheduling a tour. The longer they stay in this top-of-the-funnel phase, the least likely they are to convert into a tour and then a rental. 

Hint: Review questions being asked in your chatbot or chat tools on a regular basis – then work to build the answers to those questions into your regular, public-facing website content, to remove additional friction and give prospects the exact information they need, when they need it. 

Let Your Team Do the Talking

Some things can just be conveyed better in person. But we’ve already reviewed that getting a prospect physically in front of a leasing agent is one of the last (and hardest!) steps in the process. One way to bridge this gap? Video. Whether live or pre-recorded, video can fill a void that comes with other traditional leasing tools – like email, texting, and the telephone. Try converting something you’d normally type in an email or text and say it with video, instead. For example, when fielding an email inquiry that just hit your inbox, instead of emailing the prospect back (with a templated email response that is used with every prospect), create a short 10-15 second video that introduces yourself and answers questions the prospect had. It’s hard for people to say “no” to people they like and video instantly makes you more likable, creates an environment of authenticity that can’t be heard or felt via email, and helps you stand out from the other 15-20 multifamily emails in their inbox. 

Did you know that customers today are retaining less and less information due to excessive information? They used to pay attention to about 30 seconds of an ad, but now only catch about the first 5-15 seconds. Therefore, micro-moments are proving to be pivotal in maintaining and growing customer relationships. Video is an easy way to scale these micro touch points that we need to be sprinkling throughout our communications channels with our residents. Instead of following up on work orders with emails or phone calls, what if you had a personalized video from your service technician, greeting the prospect, quickly reviewing the work he did or fixes he applied, and thanking them for their residency? This accomplishes personalization, micro-moments, and automation, all rolled into one. 

Re-Engage on Social

You may be advertising your apartments on paid social media networks, like Facebook or Instagram and maybe your leasing team has even made a fun Tik Tok or two (I actually made one the other day!), but have you considered that most apartment prospects ask friends and family for recommendations when they’re looking to make a major purchase? Crowdsourcing is nothing new and a quick search of Facebook shows numerous groups have been created (in nearly every major city) with the sole purpose of being a resource for those moving to the respective city. This is a great opportunity for teams to do some social listening. Join the groups, browse the conversations and offer insight when appropriate. It’s quite possible prospects who have already had their eyes on your community but haven’t converted yet are asking for information and advice via these very forums. Join the conversation and start engaging! 

Put a Purpose Behind Your Touch Points

80% of sales are signed with 5-12 follow-ups, yet most salespeople stop after the first follow-up. Some don’t follow up because they prefer a more consultative versus “push” approach and yet others are diligent in follow-up efforts but their follow-up strategy is lacking in creativity and consists more of multiple “just checking in” types of messages that prospects find vanilla and boring. 

Creating a prospect journey map can really help you better define when to touch base and more importantly, what for. Consider exactly what your prospect might be doing at each point in the journey and work to not necessarily ask “how is your apartment search going?” but rather, provide valuable information that would truly be beneficial for the prospect based on the buying (renting) stage they’re in. For example: 

  • If they’ve just completed a tour and you know they’re likely touring elsewhere, provide them with a list of “questions to ask when touring apartment communities”. This is a resource that would be welcomed and would likely improve the quality of their apartment search. 
  • If they’re reaching out to schedule a tour and you learn this is their first apartment, share a blog post or document you’ve put together about everything new renters need to know (average deposit costs in the area, what happens next if a roommate moves out, if rent payments can affect a credit score, how to meet new neighbors, etc.).
  • Invite them to your upcoming social event. Usually, these are reserved for residents, but help them feel like a VIP with a special invite.

66% of customers use 3 (or more!) communication channels, yet most companies don’t consistently communicate with them via these platforms. And nearly 6 out of 10 say that tailoring messaging based on previous interactions is the key to winning their business. 

These are just a few ideas to get you started. Make sure you’re putting purpose behind your touchpoints. Don’t follow up simply because you’re trying to hit X number of touchpoints by X date. Make every engagement with both prospects and residents meaningful and interact across a wide variety of forums and devices. Otherwise, your stale, monotonous content isn’t going to engage, it’s going to make your customers run the other way – right into the arms of your competition. And I guarantee, they’ll be waiting to embrace them with a warm hug and the authenticity they were craving. 

Realync is a multifamily video engagement platform unlocking authentic experiences that connect and convert across the entire prospect and resident lifecycle. Realync’s all-in-one video solution enables multifamily teams to create memorable experiences, lease efficiently and communicate effectively with current and prospective residents. Realync partners with many of the nation’s largest property owners and managers and is actively being used in over 500,000 units today. To learn more, please visit us at www.realync.com.

Understanding The Renter’s Journey

CEO & Founder Zlatko Bogoevski, recently “walked a mile” in the shoes of a prospective renter.

I have a confession to make. Even though I lead one of the most dynamic startups in the leasing automation space, I haven’t been a renter myself in a long time. Therefore I was eager when the opportunity presented itself. My daughter is going off to college, and it was time to get her situated with student housing. Feeling a little sentimental about having her move out, I was happy to assist her in searching for a new home. 

Narrowing down our search

We quickly narrowed our choices to nine communities advertising student housing near the University campus. All properties had beautiful websites with quality photos and videos and fit our basic criteria for the most part. Our focus naturally turned to finding availability, and that’s when things started to be frustrating. Out of the nine properties, only one had pricing and availability on their website, and I was pleasantly surprised to see BetterBot providing information. We quickly found out that there was no availability and removed this property from our list. From the other eight properties, 2 had live chat, and 6 had only a contact form and phone number on the website. The live chat was useless as we were greeted with a message that an agent was not available at the time. At this point, we were faced with a looming semester deadline and had only one option, and that was to fill out contact forms and repeatedly call in the hope of reaching a live leasing agent. This worked eventually, and we did hear back from 3 properties. I think our persistence wore them down, even though I could only imagine what their VM queue must have looked like since this is one of the largest Universities around.

Finding a unit

We heard back from 3 properties, and 2 of them said they expected to have availability and invited us for a property tour. This is where things turned for the better. The properties were both excellent, and the agents did a great job with the tour, including showcasing the property. We were somewhat underwhelmed with the initial response, and meeting the leasing staff in person was a welcome change for the better. It was easy to see how busy they were and the number of things they had to accomplish daily. Overall they were well trained and did a good job making a case for their respective properties.

Signing a lease

Score! An available unit on the first floor next to the courtyard was exactly what we were looking for, and it didn’t take long to say yes. The next step was for the agent to prepare a lease agreement and a cosigner agreement available for us. This process took unusually long in our case, and we waited over a week. Our anxiety over the quiet period prompted more calls to the leasing agent to ensure we did have a unit reserved for us. Eventually, we did receive the documents for a digital signature, and the process went smoothly. The property management system was easy to navigate, and we didn’t encounter any problems. 

Moving in

The big day was here, and we were excited to pack all of my daughter’s belongings and head to her new home. I was expecting to be in and out as she moved to a fully furnished unit, so there wasn’t too much stuff we had to carry with us. Not so fast. As soon as we arrived, we were told that we couldn’t move into the unit without proof of renter insurance. We were not aware of this, but luckily we had easy options to obtain sufficient insurance from my smartphone right on the spot.  There were other items on the move-in checklist that we would have preferred to set up ahead of time, like the apps managing bill pay and packages. The process could have been much better if it didn’t rely on six pieces of paper handed to us in an envelope during the move. 

Conclusion

My daughter is enjoying her new room and likes her roommates. Looking back on the process, there are a couple of easy conclusions. The people at the property were friendly, knowledgeable, and easy to work with. The frustrations we faced could have been easily avoided by using technology that could answer our basic questions early in the process. The best way forward is a clever combination of people and technology to offer world-class service to renters. I’m more motivated than ever to continue building BetterBot to allow property managers to provide precisely that. 

Why ILSs Love BetterBot

At BetterBot, it is vital for us to keep strong relationships with other partners in the industry. That’s why we’ve made a considerable effort to build strong connections with ILS vendors, also known as internet listing sites. These sites help prospective renters find their potential home a little bit easier by displaying local communities all in one place. They also allow the renter to filter some of the specific criteria they are looking for, including price, number of bedrooms, washer/dryer, and so much more. We are here to work with the ILSs. There are a few reasons why ILSs love working with BetterBot, including:

  • Improved Lead Quality
  • BetterBot Plays Nice
  • 24/7 Prospect Engagement 

Let’s dive a little bit deeper into each one! 

Improved Lead Quality

Frequently, ILS accounts will have an overwhelming number of leads come in through their platforms. 45% of all inquiries to the property are just asking for more information. That’s where BetterBot jumps in. BetterBot handles these initial inquiries, which lessens the number of leads that are not serious. Thus, providing improved lead quality and attributing these leads to the correct sources. No more fluffed-up numbers, just valid leads. 38% of companies could book more qualified meetings using a conversational sales solution such as BetterBot. 

BetterBot Plays Nice

Working together is essential to a thriving work environment, especially for vendor partners. BetterBot integrates with all significant ILS sites and works directly with their teams to provide a seamless experience for prospects and property management teams alike. We also integrate with all the multiple calendars so that appointments are accessible for the site team to manage and easy for prospects to schedule in one place. 

24/7 Prospect Engagement

BetterBot engages with prospective renters at any time of the day or night. No more unanswered inquiries. Each person that interacts with BetterBot gets answers to the questions they have and passes them along to the property at the appropriate point in the renter’s journey. This is great for ILSs because it encourages users to interact with their platform and move through more engaging topics. 

As we mentioned earlier, strong relationships are essential in the multifamily industry. BetterBot helps ILSs share more qualified leads and engage with renters 24/7/365. We also play nice with others and do everything in our power to create a seamless experience using leasing automation. If you’d like to learn more about which ILSs are standing out, check out this article from an experienced renter that breaks down an honest review of the most popular ILSs. 

Labor-Shortage-Multifamily

The Labor Shortage is Affecting Multifamily – Here’s How BetterBot Can Help

The pandemic is truly the gift that keeps on giving. Along with other trends accelerated by the rise of the coronavirus, new and worsening labor shortages are gripping almost every industry. In the multifamily sector, labor shortages of construction and property management workers have been a fact of life since the Great Recession, but an aging workforce and a failure to fully recover from that recession has left the industry in a tight spot as the pandemic reaches its second year. At the same time, new technologies and tools are making it easier for leasing teams to keep up with quickly rising demand. 

BetterBot is one of those tools. A multifunctional property management chatbot, BetterBot has been helping property management teams automate the leasing journey since 2018. Here’s how it can help give your team a leg up in 2022.  

How BetterBot can help leasing teams thrive during a labor shortage

A survey put out by AppFolio and the National Association of Apartments (NAA) asked property managers what their biggest challenges were in 2021. Unsurprisingly, more than 50% listed staffing and recruitment as top concerns. Whether your multifamily team is facing labor shortages or not, rising demand in multifamily is making it harder to keep up with day-to-day tasks and provide excellent service to prospects. 

It’s clear that this trend isn’t sustainable. But where current customer support methods simply can’t keep up with the pace, BetterBot can. Here’s how:

24/7 Service

A lot can happen before and after business hours. And more than likely, your prospective renters are looking up your property after your team has clocked out for the day. In fact, ​​our research has shown that 58% of our customer’s traffic occurs after hours. If you don’t have a built-in system to assist people when you’re OOO, you’re really shooting yourself in the foot. 

Here’s a surprising stat – 20 years ago, 50% of all leads went unanswered. Today, that statistic hasn’t changed. This lines up with the fact that multifamily teams have consistently been understaffed, and that labor shortage makes it tough to connect with every lead. Fortunately, BetterBot offers a simple fix. Think of our customizable chatbot solution like an always-on extension of your leasing team. No matter the time or day, it’ll always be there to offer 24/7, 365 support on everything from scheduling appointments to answering questions about your property – and more. 

More qualified leads

With housing costs quickly pushing many out of the single-family market, many people are choosing to rent instead. But not every property is the right fit for a particular person. And it can be a particularly grueling task for property teams to weed out unqualified leads day in and day out. 

BetterBot can take care of it. BetterBot for Leads makes sure prospects never slip into the cracks. And it helps you figure out which ones to target. Our chatbot manages leads from any marketing source and converts them 3x faster than standard ILS. And if that wasn’t cool enough, we have an 50% open rate on our follow-ups, 16.9% of opens click to our bot and nearly 30% of all prospects become leads. No more missing out. 

More time back for your teams

Of course, one of the biggest consequences of not having enough team members is that the employees you do have don’t have enough time. For many leasing teams, it’s simply impossible to get through every task that needs to be completed in a day. And even if your team devotes more time to particular tasks, that means others will get ignored. All of this combined can create an overwhelming work environment, which can be detrimental to your workforce. 

BetterBot makes it easy to relieve some of the burden on your teams. Both BetterBot for Web and BetterBot for Leads gives time back to your teams by handling customer service and managing your list of leads. When you’re not having to constantly answer questions about your property or pick the best leads, you can spend more time cultivating valuable relationships with prospects and current renters. 

Easy access to info and resources

Making sure information about your property is accessible to everyone is critical these days. One of our favorite things about our chatbot is that it can be integrated pretty much anywhere. This means that people who find your property on social media or Google My Business can interact with BetterBot and get answers to their questions right where they are, without having to navigate to your site. 

The key to getting great leads today is meeting people where they already are. BetterBot can do exactly that even in the midst of a labor shortage. Learn more here!

Prospect Management Tools You Should Know About

Prospect management may sound like a daunting task, but it doesn’t need to be. Today’s property management companies are finding tools that help ease the process on their leasing teams in several different ways. A couple of the tools that you need to know about include: 

  • CRM 
  • Leasing Automation Tools 
  • Self-Guided Tours 
  • Chatbot Technology

CRM 

Having the right CRM can make or break your prospect management process. CRM stands for customer relationship management, and typically this type of platform will allow teams to manage the customer’s interactions, prospect data, and share among the group. So how do you know if your CRM platform is working for you? There are many things you want to make sure your partners have. You will want to make sure your CRM allows you to see your prospect’s data effortlessly so that your team can manage communication. You’ll also want to make sure it supports your sales and marketing efforts. You should see where your prospects are coming from and how their leasing journey flows. 

One CRM that is making waves in the multifamily industry is Rent Dynamics’ CRM. Rent Dynamics’ CRM helps property management teams attract leads, qualify and manage prospects, and increase resident retention all in one spot. They have helped their clients see an average of 47% of leads converting to tours using their platform. Thanks to the intuitive UI and process streamlining within the tool, leasing agents who use Rent Dynamics’ CRM see extremely high engagement scores across emails, calls, and follow-ups. Utilizing a platform such as Rent Dynamics allows property management teams to save time and convert more leases across the board. 

Leasing Automation Tools

Leasing Automation tools allow your teams to streamline the process and save time. These tools can follow up with the prospect and find the most qualified leads, which would enable the site teams to spend more time on complex tasks that require more attention. For example, BetterBot’s latest product, BetterBot for leads, intercepts prospects at the point where they are gathering information. The bot then weeds out the people who are not serious about leasing at that community and only passes along the most qualified leads. 

Self-Guided Tour Technology

More and more renters prefer a self-guided tour interaction when exploring their potential home. Using self-guided tour technology allows them to schedule a tour on their terms and control the experience. Rently reports 83% of renters would take a self-guided tour if offered and 42% of self-guided tours completed come after hours and on weekends. With platforms such as Rently, the prospect undergoes a quick verification, a one-time use code to get into the unit, and customizable directions. Once the tour has been completed, the platform sends over a link to complete the application and continue the process, saving the leasing team time and allowing prospects to tour the property the way they want. 

Chatbot Technology

Chatbots allow potential customers to find the information they are looking for easily. They work 24/7/365 to give renters the information when they want, where they want, and how they want. Chatbots should handle menial tasks for the leasing team, which saves time, much like leasing automation tools. Using BetterBot’s chatbot technology coupled with leasing automation, properties saved an average of 57.4 hours per property per month. That’s more hours than one leasing agent would typically work in a week. When looking for a chatbot, it’s crucial to find one that can sit anywhere prospects are looking, including social media, ILSs, Google, and more. When utilizing a quality chatbot, leasing teams will save time, and prospects will get the answers they need. 

Again, we know that prospect management can sound like a huge responsibility. However, using the available tools for you and your teams will make a huge difference. To discover more tools that you can use designed for the multifamily industry, check out our article on Putting Together A Tech Stack That Makes Sense For Your Business.



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