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In today’s fast-paced world, property management companies are using technology to streamline the leasing office and make it more efficient. With NYC’s vacancy rates rising at an all-time high, it’s essential to stay on track with qualified leads and increase retention through automation. By using online tools and apps, leasing agents can handle more leasing inquiries and process them more quickly.

MD2 Property Group shares 4 recent ways multifamily operators are streamlining operations in the leasing office and ways you can benefit from these practices:

1. Online leasing agreements

As a property manager, you know that online leasing is one of the most important tools you have at your disposal. Not only does it make it easier for potential tenants to find your properties, but it also makes it easier for you to keep track of your properties and manage your leases.

When you list your properties online, you’ll likely get more applications than you would if you were relying on traditional methods. And, since you can include photos and detailed information about your properties, you can screen tenants more effectively, which means you’re more likely to find the perfect tenants for your properties.

Rentcafe by Yardi, the leading software solution in multifamily, provides online leasing that gives potential prospects access to unit availability and pricing in real-time.

2. Centralized leasing

With the dynamics of the crowded city, NYC property managers would benefit tremendously from having streamlined leasing in a centralized manner. Having a centralized point of contact for all leasing activity can help to streamline the process and avoid duplication of effort. It can also make it easier to keep track of leases and ensure that they are being managed effectively.

Another advantage of this type of leasing management is that it can provide greater control over the leasing process. With all leasing activity centrally controlled, there can be greater certainty that leases are being entered into in accordance with organizational policy and procedures. This can help to minimize risk and ensure compliance with applicable laws and regulations.

Knock’s Centralized Leasing Suite offers just that. By offering more housing options to qualified leads before they venture to other competitors, the software enables cross-selling, browser calling, and intelligent guest cards. This allows both remote and on-site agents to maintain a pipeline of high quality leads.

3. AI chatbots, Virtual Leasing Assistants

As the world progresses, artificial intelligence (AI) is becoming more and more prevalent in various aspects of our lives. From Siri to self-driving cars, AI is changing the way we live and interact with the world around us.

The effectiveness of AI is transforming industries like real estate, too – especially real estate leasing. Appfolio, a cloud-based property management software, offers an AI leasing assistant that gives prospective tenants personalized responses for any policy-related inquiries or unit showings.

4. Self-guided & virtual tours

With the rise of contactless practices, Knock by RealPage, a software solution for connecting apartments with agents has found a way to modernize the tour experience for prospective renters. Instead of agents being on-site, the app allows for real-time communication and self-guided tours.

You can meet expectations from a distance and engage with the prospective tenant in any communication channel they’d like. 

Matterport, a software solution with an emphasis on digitizing spaces, also offers similar perks. You can manage 3d models of your property and offer prospective tenants an immersive experience while saving time and money!

AI and automation are quickly becoming essential tools in the real estate industry. If you’re not using them, you’re at a disadvantage. Start implementing automation in lease management to save time, make better decisions, and stay ahead of the competition – especially in unsure times like this.

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