{"id":940,"date":"2012-03-29T05:00:34","date_gmt":"2012-03-29T12:00:34","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=940"},"modified":"2021-02-03T17:12:10","modified_gmt":"2021-02-04T01:12:10","slug":"lets-talk-online-leasing","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/lets-talk-online-leasing\/","title":{"rendered":"Let\u2019s Talk Online Leasing"},"content":{"rendered":"

\"AIMThere’s so much talk in the property management industry right now about the future of leasing that we wanted to dive deep into the topic with the help of Steve Lefkovits, Executive Producer of the Apartment Internet Marketing Conference<\/a> coming up in Arizona next month. Steve is the author of this interesting piece in this month’s Units magazine called Customers as Kings<\/a>. He agreed to answer some trending questions from us on the apartment industry’s next big thing: marketing and leasing that’s online, mobile and more efficient than ever.<\/p>\n

TBS: What do you think is more important \u2013 mobile friendly property websites or mobile specific apps, and do you need to create both?<\/strong><\/p>\n

SL:<\/strong> I think that mobile web sites are more important for attracting residents and mobile apps have more possibilities for long-term engagement with existing renters.\u00a0 Right now 10-20% of web page views during a search come from mobile devices. Some property management companies report even more, depending on how they’re optimizing their lead flow and how many touchpoints they have.\u00a0 It’s obvious that few people are going to install an app in the middle of their search, their far more likely to use their phones on the fly as part of the search.\u00a0 On the other hand, the possibilities are endless for meaningful engagement in a property-level application.\u00a0 The easy things to think of relate just to the property – paying rent, maintenance requests and tracking packages.\u00a0 I think smart companies are going to start focusing more on lifestyle elements in an app that encourage healthy living and neighborhood engagement.\u00a0 If I built an apartment app today it would have neighborhood services and discounts, recipes, exercise information, attractions and events, holiday information and some type of game that made it fun.\u00a0 Plus payments, maintenance requests, and – oh yeah, requests for online reviews.<\/p>\n

TBS: What do you think consumers are demanding from mobile platform functionality when looking for rentals?<\/strong><\/p>\n

SL:<\/strong> When it comes to apartment searching mobile platforms, I think people are looking for the same things they see on Google maps – what else is in the area, and where their friends are.\u00a0 And reviews.\u00a0 That’s why the Yelp app is so powerful in urban areas.\u00a0 It’s a way to call 5 friends when you’re standing outside a store.\u00a0 Someone who delivers that for apartment searching will have the killer app.<\/p>\n


\nTBS: What would you say the widespread adoption of tablet-based leasing look like? How is it different from today\u2019s practices?<\/strong><\/p>\n

SL:<\/strong> What does the widespread adoption of tablet-based leasing look like?\u00a0 We’re not there yet.\u00a0 Tablets seem like an individualized behavior right now, with the physical ergonomics being a big factor.\u00a0 Personally, I only use an iPad when lying down.\u00a0 It’s not comfortable for me otherwise.\u00a0 I think when the tablets offer a clear, compelling user experience for renters that’s as good as or better than the way people lease now, we’ll see adoption go overnight to 75%.\u00a0 It’s coming, but not here yet.<\/p>\n

TBS: What changes for prospects in an online-leasing world as they go to view properties, and then rent and remit?<\/strong><\/p>\n

SL:<\/strong> In an online leasing world, there’s still a disconnect between what happens online, and they paper process of leasing.\u00a0 Right now you can have a great experience looking for a home online, going through an ILS or Craigslist to a property website and getting a knowledgeable leasing agent or call center agent on the phone.\u00a0 That part is terrific.\u00a0 A lot of work has been put into training and uniform pricing around revenue management so that’s working too.\u00a0 but the clunkiness of the application process is still a big issue at many communities and for many renters.\u00a0 It’s something to be endured, not something slick and seamless.\u00a0 Today I can order my lunch sandwich online and pay by card and just go in and pick it up without visiting the cashier.\u00a0 I hope that someday soon I can do leasing paperwork online at home and submit it, and just come in and pick up the key.\u00a0 Heck, anyone with a last name like mine that’s hard to spell just hates repeating it over and over as you fill out form after form.<\/p>\n

TBS: How far out are we, timeline-wise, from a pervasive site-unseen, online only leasing reality?<\/strong><\/p>\n

SL:<\/strong> We’ll get to online-only leasing when most lawyers are comfortable with electronic signatures and understand the 10 year-old e-sign law.\u00a0 Until then, paper processes will be a big component of industry practice.\u00a0 It’s amazing how much time is saved by using something like Echosign or Docusign – particularly in distributing and archiving contracts.\u00a0 The vendors clearly get it at this point, but owners don’t.\u00a0 It’s a hidden area where tons and tons of time, frustration and effort can be saved, but no one owns that type of process improvement when it runs up against legal departments.\u00a0 It’s still going to be a while.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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