Pangea Properties, headquartered in Chicago and founded in 2008, is a private real estate investment trust (REIT). The REIT acquires, rehabilitates and improves multifamily residential properties throughout Chicago, Indianapolis and Baltimore with an emphasis on positively impacting the neighborhoods it serves. The value of the portfolio exceeds $415 million.
The ChallengeInefficient Leads to Leases
Pangea Properties is in a state of expansion. To help its team keep pace with growth, it needed more advanced marketing tools. “One of our biggest challenges has been improving our leasing processes to more efficiently convert prospects to residents,” said Arun Das, head of marketing and technology at Pangea Properties. The organization sought to streamline lead capture and automate leasing while expanding the online presence of its properties.
The SolutionRENTCafé CRM
RENTCafé CRM is an end-to-end leasing and customer relationship management solution that captures leads and improves the customer experience. It allows users to conduct all prospect and resident services from a tablet or desktop throughout the entire rental lifecycle, from initial contact to move-in, lease renewal and move-out. Fully integrated with Yardi Voyager and RENTCafé, RENTCafé CRM packages contact, lead, lease, resident and property data in an intuitive mobile interface for onsite efficiency gains and increased conversions.
The StoryImproved Lead Capture
RENTCafé CRM has improved lead capture for Pangea Properties. “We no longer rely on staff member compliance to enter leads. All leads flow to RENTCafé CRM as guest cards or queue leads, which we can track,” said Das. When new guest cards are entered, RENTCafé CRM automatically creates follow-up activities, including calls and emails. This helps Pangea Properties scale as it grows, making sure site staff never misses a lead. Because the software also manages the renter lifecycle, Pangea Properties can follow up with prospects once they become residents too. Keeping resident satisfaction high throughout the lease term helps capture more lease renewals.
Increase Lead Conversion
Pangea uses lead scoring, follow-up reminders and automated email campaigns in RENTCafé CRM to target prospects at different stages of its sales funnel and convert them. “RENTCafé CRM marketing automation tools decrease the gap between first contact and lead response time, increasing the likelihood of conversion,” said Das.
Now Pangea can communicate with prospects via text message. Calls to action on some of Pangea’s property websites encourage prospects to text. According to Das, “We want prospects to communicate with using their preferred method. Texting is easier for people who are too busy to call or come into the office.”
Texts from prospects appear instantly in the property’s RENTCafé CRM queue. The system can use smart automation features to reply instantly, and leasing agents can reply as well. A complete record of every text conversation is saved in the guest card.
Pangea Properties implemented RENTCafé CRM when it adopted Yardi Voyager and RENTCafé in May 2017. Using a single stack of products has allowed Pangea to make systematic changes that improve the efficiency of the business.
Now, when prospect and resident data is entered in RENTCafé CRM, it is automatically updated across all interfaces, saving time and increasing consistency. “Our previous systems were separated, meaning more data entry for all teams,” said Das.
With RENTCafé, Pangea Properties experienced multiple improvements to its properties’ website traffic. “We saw huge website growth – including 86% more user sessions and a 147% increase in pageviews,” shared Das. As online leads come in from property websites, the data appears instantly in RENTCafé CRM, helping Pangea Properties automate and streamline the lead-to-lease process.