A Unified Approach to Multifamily Property Operations

 

A good elevator pitch is said to be one that lasts no longer than the elevator ride of 20 or 30 seconds. The message must be tightly persuasive to spark interest or an action or the respondent may simply get bored with it. People generally lose focus after about eight seconds, one second shy of a goldfish, whether engaging with someone else or searching for a solution.

Laborious elevator pitches are as much of a deal killer than the marketing blunder of a slow-loading website. There’s just no time to dawdle, and it doesn’t help that riding up or down is getting quicker. The fastest elevator in the West at New York’s 1 World Trade Center is now pacing at a brisk 22.6 miles per hour.

The heightened sense of urgency is inherently spilling over into property operations. A robust property management platform may have all the bells and whistles, but if users can’t navigate it quickly the moment is lost. More demand is being placed by owners on operational staples like reducing expenses and increasing revenue, and property managers need to perform seamlessly.

Simplifying operational processes for faster decision making

RealPage’s new Resident Management workflow is connecting property operations – whether conventional, student, senior, affordable or a combination thereof – into a small, efficient ecosystem. The revamped platform focuses on operational simplicity that enables property managers to make decisions faster. Even training is a snap.

“Technology has trained people to want to do things in a simpler way,” said Senior Vice President Leslie Turner, who will host a tour of the simplified and unified property management system at RealWorld 2019. “I think it’s just how technology is in the world today. Even with our phones, we expect everything to be at our fingertips.”

Innovation and simplicity are the focus of property operations and other sessions at RealPage’s annual property management conference, “Connect. Discover. Exceed,” at the Hyatt Regency Orlando July 21-23.

The theme reflects the company’s 2019 goal of Unity, an initiative focused on implementing consistent ways of executing all products at one time. This was outlined by CEO Steve Winn in the company’s Q4 2018 earnings call. Simply, if products are much easier to implement, ideally self-­provisioned, then change management becomes much less problematic.

The unified interface, introduced last year, drives faster training, easier transitions between RealPage products and improved productivity.

Freeing up valuable time and resources

The revamped Resident Management workflow simplifies resident management across all markets with a unified look and feel. The modern, browser-independent platform is easier to learn and navigate so operations is simplified and property managers can focus on increasing revenue in other areas, Turner says.

“Take the Tour of the Simplified and Unified RealPage Property Management System – Regardless of Your Portfolio Asset Type” is one of two sessions that focus on reducing expenses and risk. “Are You Utilizing Your OneSite Property Management System to its Highest Value?” offers insight into portfolio-wide settings that RealPage evaluates to ensure maximum return (and, as a bonus, a complimentary in-person meeting to fine-tune the platform).

Users can meet with a RealPage Customer Success Architect, who will evaluate their company’s portfolio settings, have a personalized discussion around their setup and offer recommendations based on desired business goals. The session will also point out possible settings inconsistencies users may not be aware of, and explain why correcting them is important.

It’s another way that RealPage is helping customers get the most out of their software investment, which sometimes isn’t fully realized because property operations get in the way.

“We will pull data from clients coming to RealWorld, and show them how they can improve management of that system immediately,” Turner said. “They actually get to see how this works and we’re going to have one-on-ones with them to go over things that will improve their business.”

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Contributing Editor, Property Management Insider
President, Ballpark Impressions, LLC

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Tim Blackwell is a long-time publishing and printing executive in the Dallas/Fort Worth area who writes about the multifamily housing and transportation industries. He has contributed numerous articles to Property Management Insider, and worked as a newspaper reporter in the D/FW area. Blackwell is president of Ballpark Impressions, and publishes the Cowcatcher Magazine. He is a member of the Fort Worth Chapter/Society of Professional Journalists.

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