Anyone Home Blog

I Love You…But do I Need You? A Story of Putting Forth 2.5X the Effort to Get the Same Result

Jan 04, 2017 12:00 PM

In 2001, I was really fortunate to join the team at Rent.com. At its peak in 2006, Rent.com was the most efficient producer of leases in multifamily. I learned a lot from the entire team especially the co-founders, Scott Ingraham and Allan Hunter.

Scott and Allan were the leaders of Oasis Residential, a Las Vegas based REIT which sold to Camden in 1998. Rent.com was my first experience working for an Internet Listing Service (ILS). From Scott, Allan and COO Gina Anastasi, I learned a ton about how management companies mitigate exposure. Allan was very involved with Oasis’ advertising and saw the value to their brand. And despite being someone who constantly defended the need for ILS (and at the time, print) advertising, I will never forget the words he said to me after one management company cancelled Rent.com:

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Simple Tips to Boost Resident Satisfaction and Increase Renewal Rates

Dec 14, 2016 12:00 PM

Retention is an important factor for all multifamily operators. With more than 60% of revenue coming from renewals for most properties, a small decrease in renewals can have a tremendous impact on pricing power and NOI performance.

Regardless of the situation, resident loyalty has a significant impact on the bottom line. Resident satisfaction has a dramatic impact on renewals rates – even when renewals include a rent increase. A recent NMHC survey measureed the  “…difference between the percentage of customers who are totally and completely satisfied (raving fans) and those who aren’t” and has found that loyal residents in fact renew and refer more often, with satisfied residents more likely to renew at 63% and dissatisfied residents renewing only 34% of the time.

Here are some simple actions you can take to enhance resident satisfaction, and thereby increase your renewal rates.

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5 Tips to Enhance Your Resident Experience

Dec 07, 2016 12:00 PM

There are tens of millions of apartment renters nationwide. Depending on the size of your operation, thousands are most likely under your collective roof. Each of these unique individuals have expectations about the “extras” or amenities that enhance their resident experience. Consider this information from the National Multifamily Housing Council - 75% of residents in the Birmingham, Alabama area list a modular closet system as their top amenity; and 90% of residents in Kansas City list garbage disposals as their top need.

Clearly, your residents’ interests can be as varied as the cities in which they live. Outside of the basic need for a safe place to live, convenient location and fair pricing, the amenities offered within your community can have a significant impact on retention, renewals and referrals. When residents are satisfied, they don’t leave – saving you time and putting less pressure on marketing to keep occupancies and revenue optimized.

Following are five tips to help enhance your resident experience that can increase resident satisfaction, and in turn help you control costs and keep your properties running smoothly.

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Establishing Multifamily Lead Management KPIs

Nov 23, 2016 12:00 PM

Multifamily operators have a lot on their plate – and that doesn’t include the latest “fire” that needs immediate attention. The thought of taking time to develop and track lead management KPIs (key performance indicators) is overwhelming. Yet, hundreds of millions of dollars are spent on lead generation each year. And if you don’t know exactly where your leads are coming from, and how they are moving through the leasing pipeline, money is being wasted. Knowing exactly how your communities are performing financially is a must-have in your business.

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7 Questions to Answer When Considering CRM for Your Multifamily Operation

Nov 02, 2016 12:00 PM

One of the oldest pieces of customer-focused technology seems to be getting hot again. CRM, or customer relationship management software, is seeing a tremendous rebirth both within the multifamily industry and without.

As multifamily operators continue to look to find ways to gain greater efficiencies, improve the data they use to manage their organizations and drive overall improvements through their leasing teams, a review of the CRM you’re using and how you’re using it is a smart initiative (if you’d like some help with that, let us know).

If through your review you determine that change is in order (or if you’ve already decided that an improvement to your CRM makes sense), you’ll quickly learn that a review of what’s out there gets really complex and confusing, really fast. While the inherent purpose of CRM - managing the customer relationship - is a relatively simple idea, the implications are vast.

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7 Keys to Successful Multifamily Marketing to Millennials

Oct 26, 2016 12:00 PM

With a population of more than 75 million, the millennial generation (those currently aged 18 - 34) represents the largest single segment of the population ever seen, and are having significant impact on apartments, from how they’re developed, to how they’re sold and managed. With an annual buying power of $200 billion, they are also the most lucrative market.

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4 Stories of Contact Center Success (and Some Crazy Calls)

Oct 21, 2016 12:49 PM

The stories below are calls that representatives received in the Anyone Home contact center. Some of the calls are humorous and should generate a belly-laugh! At the end of the day, regardless of the nature of the calls, the combination of the contact center’s training, representatives' experience and collective teamwork succeeded in giving the callers an exceptional experience. 

Call #1: Who Ya Gonna Call?

A resident called into the contact center in the middle of the night requesting a technician as soon as possible. The representative that answered the call said, “Great, we’re happy to help you out with that. What’s the problem?” 

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3 Key Points for Multifamily Lead Conversion

Oct 13, 2016 09:06 AM

Converting leads into leases is the top priority of multifamily owners and operators. In order to plan and budget for the year, operators use past experiences, year-over-year leasing data and extensive industry knowledge to forecast how many new leases they expect for the next year. With the advancements in technology and the amount of information available, it would be ideal if this cumbersome, inconsistent process was a thing of the past. Unfortunately, it is not. 

Many multifamily operators and owners have embraced the importance of having analytical data as a foundational strategy for converting prospective residents; however, capturing the right data is still not an exact science. In a city or town where similar apartment communities compete in the same market, detailed and accurate data that addresses the specific concerns of that property gives the operator (that uses it effectively) a significant advantage over the community that does not have access to that level of data. 

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3 Keys to Winning More Multifamily Leases in the ZMOT

Sep 29, 2016 12:24 PM

With information about apartment communities readily available on mobile phones, prospective residents are savvier than ever when shopping for a new place to live. Technology has enabled prospects to research their options before making a purchase decision. This evolution has changed the way that residents shop for apartment communities and has changed the way that multifamily operators attract and market to prospects.

The Zero Moment of Truth (ZMOT) is the moment between the time when a potential resident has investigated your apartment community and when they decide whether or not to initiate further contact. The decision the prospect ultimately makes depends a lot on your staff having the right information, at the right time and for the right customer. Being top-of-mind in those crucial moments can make the difference between a prospect leasing from you or moving on to a competing apartment community.

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The Attributes of an Effective Contact Center

Sep 14, 2016 12:00 PM

There’s a lot going on in the minds of your prospects as they look for a new apartment home. They could be excited as they look for a new home to accommodate their expanding family or they may be riddled with anxiety as they downsize after a divorce. No matter the reason, moving is stressful.

An effective contact center serves as first impression of your multifamily apartment community by making sure the phone is answered 24/7 and the prospect is put at ease by their conversation with the contact center representative. After all, in today’s hyper-connected world, prospects want instant information that’s personalized for them.

As a multifamily housing operator, you can meet the changing expectations of today’s prospective renters while becoming more efficient and profitable. It all starts with having a pro-active contact center.

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