The COVID-19 pandemic has forced businesses across all industries to re-evaluate and adapt their operations in order to keep up with changing circumstances. The multifamily leasing industry is no exception, and as a result, contactless leasing has become a game-changer for many multifamily owners. In this article, we’ll explore five key ways in which contact contactless leasing is revolutionizing the multifamily industry and what it means for multifamily owners.
To read about some of the basics, please visit this post on Contactless Leasing and How It Helps. And to read about some of the specific technologies that comprise a contactless leasing workflow please read our resource page on Integrating Technology into a Leasing Workflow.
Improved Customer Experience
One of the biggest benefits of contactless leasing is that it provides a more convenient and efficient leasing experience for prospects and residents. With contactless leasing, prospective residents can view available units, apply for leases, and even sign their leases all from the comfort of their own homes, without having to physically visit the property. Customers get the information they need when they need it, and there are no hurdles or wait times.
Increased Lead Generation and Conversion Rates
With contactless leasing, multifamily owners have access to a larger pool of prospective residents, as people are more likely to explore rental options from home than visit the properties. This has lead to prospects putting their feelers out at more properties than normal, and doing more due-diligence about the apartments they are interested in prior to visiting a property. Because of this, leasing offices doing a good job at catering to those requests, and offering strong digital communication services (live chat, email, social media, etc), are the offices closing more leases and improving occupancy.
Enhanced Safety and Health Measures
During the COVID-19 pandemic efforts to minimize the spread of germs and contaminates has been essential. While properties are spending more time cleaning and managing their amenities and offices, customers (prospective tenants) have been staying home and avoiding it all together. With contactless leasing measures in place, physical interactions between prospective residents and leasing agents are reduced, reducing risks of infection within the community and making your communities safer overall.
Increased Accessibility and Convenience
Contactless leasing provides increased accessibility and convenience for both multifamily owners and prospective residents. For multifamily owners, contactless leasing eliminates the need for physical interactions with prospective residents, making it easier for leasing specialists and agents to divide their time and service more customers. Additionally, contactless leasing can eliminate the need for in-person tours of units, making it easier for prospective residents to view available units from anywhere, at any time. This increased accessibility and convenience can help to attract a wider pool of prospective residents and make the leasing process more efficient for everyone involved.
Increased Cost Savings
Contactless leasing even when implemented well will provide cost savings for multifamily owners. It will reduce overhead, the work-load and hours needed from their staff and the resources needed the manage the leasing process. These savings being at the initial touch points with prospects, but lowering the cost of initial interactions (through live chat) and continuing those cost savings all the way through to move-in via automated application and move-in processes. In the long run, these cost savings help maximize profits for multifamily owners and also create a better work environment, a safer community, and happier residents!s
CONCLUSION
Sometimes changes are temporary, and sometimes they are permanent. If we have learned anything form the pandemic, it’s that the world and it’s processes can be changed permanently in almost an instant. Contactless Leasing is here to stay, and the companies that adapt it well are going to have a clear advantage moving forward.