Efficient Multifamily Residential Property Management
Explore how you can overcome persistent challenges and reach new levels of success.
Top Challenges in Multifamily Property Management
Between a surge in demand for units nationwide, an economic recession, shifting employee expectations, and a flood of new units coming online, multifamily property management businesses face various challenges — all of which are forcing executives to look closely at their operations.
Why Multifamily Property Management Companies Need to Adapt Their Strategies
A lack of standardization and poorly integrated or disparate systems can lead to operational inefficiencies for multifamily asset management companies. This can negatively impact the employee experience and make it difficult to retain top performers, scale, and maintain margins.
“Our previous solution felt very segmented, to the point where we had to exit completely out of the system if we wanted to look at multiple properties. Now all of our data is together in one place. Searching for data is now task-oriented rather than property-oriented.”
How Having Streamlined Operations Elevates Your Property Management Business
Happier employees and less churn
When workflows are consistent, flexible, and efficient across properties, teams have more time to devote to meaningful work.
Better data, faster decision-making
A single source of truth can help multifamily housing management companies get the insights they need to take advantage of market shifts and act quickly to resolve complex challenges.
Competitive advantage
The benefits of frictionless workflows and simplified processes extend to your renters, owners, and investors through great customer experiences.
Ready to Take Your Multifamily Property Management Business to the Next Level?
Download this free guide for ways to streamline your processes and create space to scale.
Ways Multifamily Businesses Can Overcome Operational Efficiency and Staffing Challenges
Follow these strategies to maximize your people and processes.
Centralize Teams for Greater Efficiency
Instead of having team members wear different hats throughout the day, centralize your teams into specialized roles so they can focus on what they enjoy and do best. This way they can get work done faster and more efficiently — and help your business grow sustainably.
Leverage AI to Automate Manual Processes
By putting AI and automation to work, you can free teams from tedious, repetitive tasks like responding to commonly asked questions so they can have more time to focus on higher-value work and customer service.
Differentiate Through Personalization
When you offer personalized service and differentiated experiences to renters, owners, and investors, you can attract and retain more customers and stand out from your competitors. On-demand tools and AI can help you curate customized experiences at scale all while driving efficiency.
Consolidate Your Tech Stack
Having a single system to manage all of your workflows, integrations, and property data can eliminate inefficiencies and allow you to get the insights you need to make smart business decisions and boost NOI.
How Technology can Streamline Critical Workflows
Multifamily Marketing
Attract more prospects with a fully integrated, modern website, flexible virtual showings, and seamless self-guided tours. Additionally, use AI to help you make sense of data on your current and future customers to maximize your marketing efforts.
Multifamily Leasing
Let AI work as an extension of your team to respond to prospects 24/7 and automate key leasing processes like renewing leases and finalizing lease agreements. Additionally, use a customer relationship management (CRM) system to strengthen relationship-building with prospects by securely managing personal details.
Multifamily Maintenance
Simplify work order management, speed up unit turns, and provide a better customer experience with a fully automated maintenance flow and online self-service resident portals.
Multifamily Accounting and Reporting
Save time, increase visibility, and minimize errors and inconsistencies by automating your accounts payable, late fees, and monthly owner statements.
Unlock Operational Excellence With AppFolio Property Manager
See how one powerful platform can help you build upon your strengths and maximize efficiency.
Get Started“AppFolio is constantly iterating on their software. We have tremendous confidence that working with AppFolio is better than doing it with anybody else.”
Rishi Khosla
Chief Marketing Officer, 2B Living
5,000+ units