Key Takeaways from Apartmentalize 2023
As an exhibitor at Apartmentalize 2023 in Atlanta, the RemoteLock team was thrilled to see a record-breaking 12,000-plus attendees come to network and learn more about what’s going on in the rental housing profession. We chatted with professionals in multifamily communities of all sizes, our many integration partners who also came to the show, as well as some in student housing, affordable housing and assisted living. What did we learn? A few important themes bubbled to the top: centralization, connectivity and operational efficiencies.
Centralization: It’s Happening
There were at least six educational sessions on the topic of centralization at this year’s Apartmentalize. Many in the multifamily industry are realizing the benefits of taking functions traditionally performed by team members assigned to individual properties and doing them instead in one location. For example, to centralize leasing, a company might coordinate lead-nurturing centrally and share leasing agents between properties in a submarket.
One group of panelists from the “Automate Routines, Humanize Exceptions: Get Tips for Centralization & Automation” session was quick to point out that a successful centralization is dependent on automation and the right staffing. For example, via self-guided touring apps, prospects can safely tour on their own schedules. This automation frees up your centralized leasing staff to concentrate on more personalized, and hopefully more meaningful, follow-up with prospects.
As far as staffing is concerned, keep in mind that the GenZers and Millennials of today’s workforce want to make an impact instead of being bogged down by menial tasks. The automation part of your centralization formula helps with that. And by centralizing, you’re also creating a center of excellence where those professionals with superior leasing skills can really shine.
Take Advantage of Connectivity
Savvy proptech providers know that property managers want fewer systems to swivel between. When designed with an open API, technologies can be set up to play well together in an open, connected ecosystem. That means users get maximum value as they can build customized technology stacks and data is aggregated in one place.
Best of all, those integrations fuel automations. For example, via a modern access control solution, there are no fobs to distribute for maintenance tickets, enabling teams to run like a well-oiled, automated machine versus the traditional, labor-intensive way. In a true integration, lease-related details from a PMS sync up with your access control platform to automate access for residents, staff and vendors. That puts hours back into the workdays of your staff who would be tracking or handing off keys, or letting in vendors.
Save even more time by putting reservations of amenities literally into the hands of your residents. Companies like Community Boss enable residents to reserve spots from an app on their smartphones at the coworking space, party lounge, community kitchen and even on specific pieces of exercise equipment like a Peloton. When amenity-reservation systems like these integrate with access control, you ensure the resident has a unique PIN to access the reserved space during the reservation window.
An access control system designed around an open AI should also easily integrate with an ever-expanding offering of smart lock brands, hardwired systems and essential business software. For example, RemoteLock integrates with ButterflyMX to ensure residents have access from curb to couch. It works right through the ButterflyMX app on their phones with RemoteLock working behind the scenes, leaving very little for property managers to do.
But no matter the proptech and integrations you choose, presenters at Apartmentalize strongly suggest forming a solid partnership with your tech providers. In the words of one property manager: “Ask your vendors hard questions: When has this failed? What mistakes did you make? Is this really live??”
Find Those Operational Efficiencies
Many at Apartmentalize were searching for tools and strategies to help contain costs, and save on time and labor. Both strategies of centralization and connectivity feed into your operational efficiencies, reducing NOI. Centralization can lead to a leaner team that saves on labor costs. Connectivity fuels automations, leaving team members with more time to focus on business-critical tasks like proactive performance reporting, strategic planning and revenue-generating activities. Here are a few other ways we saw technology providers offering more efficient processes at Apartmentalize:
- Electronic access control: Eliminates physical keys, saving time otherwise spent tracking keys and money on rekeying costs
- Online rent payments: Saves time collecting rent and reduces delinquencies
- Smart home technology: Saves money on utility costs with convenient, remote control of your thermostats and lights
- AI tools: Tools like chatbots save time for staff by answering common questions from prospects
There’s Momentum Building
Proptech has hit its stride, and it was all on display at Apartmentalize. The savviest providers have stepped up to deliver multifamily customers real value through true connectivity, integrations and those all-important operational efficiencies. RemoteLock, the only provider of universal access control, drives all three of these strategies, working across one property or an extensive portfolio to help multifamily assets achieve their full potential.
Talk with a RemoteLock expert today about how you can take advantage of this digital trajectory.
Devin Wirt
VP of Multifamily Sales
With decades of experience in the real estate industry, Devin leads the sales team in the multifamily sector. He believes strongly that both the right people and the right processes make impactful products. Devin is also enthusiastic about how proptech can create sought-after, prosperous multifamily communities where people love to live and work.
