Currently, it’s very easy to go online and create fake pay stubs or new identities that will help individuals get approved that may not meet all of your requirements based on their actual credit history and income. In the past it has been time consuming and/or costly to run background and income checks on applicants. So the question arises how in-depth your screening process needs to be?
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Being an awesome place to work might not be enough anymore. More than ever, younger employees have exhibited more interest in a company’s purpose-driven initiatives, meaning they are craving more than a comfortable vibe and a competitive paycheck.
On the business side, multifamily and single-family rentals had always been distinct entities. An operator either managed one or the other with very little crossover.
The associates who comprise the IT team are among the most astute in your organization. But despite their tech-savvy skill set and problem-solving abilities—IT stands for information technology, after all—these teams are no different than others in that they require training to function at a high level.
One of the biggest problems owners and operators face each day and one that takes up a lot of time and mental energy of site staff is late or delinquent payments. However, when there’s an incentive for paying rent on time, like building credit, the likelihood of on time payments increases significantly and makes online, automated payments more attractive to residents. When staff don't have to chase down payments, they can focus on building a better resident experience, which in turn helps build better relationships between resident and the property because they aren’t constantly being hassled to pay rent.
Navigating reports has never been among an apartment professional’s favorite things to do. And when those reports are flawed, their aversion to them grows.
Today, I’m excited to announce a transaction under which Entrata has acquired Rent Dynamics. For nearly a decade, Rent Dynamics has been enabling multifamily owners and operators to empower residents to take control of their financial health and identity through rent payment reporting. With some of the largest owners and operators on the platform, Rent Dynamics is an industry leader with incredible vision, world class technology and industry expertise.
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