The multifamily apartment industry, although slower than others at adopting new technology, has more recently been making strides towards integrating it into property management. In a recent Q&A with Multi-Housing News, Stacey Darden, the Senior Director of Innovation & Compliance at New Standard Equities Inc., spoke about technology’s growing role in successful operations at multifamily properties.
When asked about recent technological advancements in property management, Darden explained that pandemic restrictions revealed not all customers need to be toured around a community. “They can do their research at home and will only visit up to three communities they are seriously considering. This requires a robust community website showcasing the community in the best light, self-guided tours, a paperless and seamless application process through the lease signing and move-in,” says Darden.
Darden detailed the success New Standard Equities has in using a range of technology in day-to-day operations, including an analytics platform to review property performance in real-time, a CRM platform to centralize the flow of communication with prospective and current residents, email and texting capabilities, and Property Management Specialists (PMS), which is a repository for NSE’s financial and resident data.
In the face of the Great Resignation, technology can help with labor shortages by offering some self-service capabilities to customers. However, customers still want to know there is a human there for concerns, who will hear and address them.
Read the Q&A here.