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Saving Time & Money in Multifamily With a Resident App

A resident app offers a way to save money and time without compromising or cutting corners.

Multifamily expenses soon add up. Salaries, contracts, utility bills, property taxes, repairs, and maintenance costs can all make for eye-watering reading. Handling the duties of a multifamily property takes considerable time too. With staff on the clock, non-productive tasks are effectively costing you money.

The good news is that while no business can escape expenses, there are plenty of efficiencies that multifamily properties can make. These allow you to make savings while still offering the same or similar service to residents.

A resident app can save you time and money

Some efficiencies make more sense than others though.

One of the best ways to save both time and money when running a multifamily operation is to use a resident app. These not only offer ways to save, but also enhance the resident experience in a bunch of different ways.

Below, you’ll just some of the ways a resident can app can help:

Digital resident guides provide 24/7 answers

While there will always be a need for a friendly face to answer questions, one way to save time is to use a resident app with a built-in digital resident guide.

These allow residents to answer their own questions any time of day or night using nothing but their smartphone. Using Google-like search functionality and Wikipedia-like organization, everything residents need to know is at their fingertips.

With most multifamily residents being of millennial age or younger, this taps into how younger generations prefer to engage with information. This means property managers are freed up from answering routine questions

It can also save money by making paper copies redundant. Paper resident guides cost money to print. They take up room to store. And you can’t update or amend them without further expense. Digital guides, however, can be changed at any point and the information is updated instantly on the resident’s app.

Easy maintenance requests

Resident apps are also great for making maintenance requests too.

Rather than submitting a paper request or having to phone a property manager, residents can simply log a request using their resident app and see the status of their ticket at any time.

As with any kind of repair or maintenance, catching things early is best. What may begin as a noisy HVAC unit may require a complete replacement if ignored. An unreported smell might be a leak that’s causing structural damage.

Traditional maintenance methods put residents off reporting such problems as they’re inconvenient and often left out of the loop. A resident app, however, makes reporting problems a cinch while also making it super easy to know what’s going on.

With more repairs caught early and happier residents, property maintenance costs are lower and retention rates are higher.

Automate the move-in process

A resident app also makes the move-in process much more efficient. By cutting down on the amount of time required by leasing agents, massive savings can be made each and every year of operation.

Resident apps like Flamingo offer residents a personalized tasklist with progress indicators to make moving in easier, quicker, and more engaging.

Consider Weidner Apartment Homes which has 778 units within its portfolio of multifamily properties.

Over the course of 3 months, 148 residents used the personalized Flamingo resident app to automate the move-in process.

Normally, moving in requires 90 minutes of leasing agent time to handle all the formalities. With 148 residents using move-in automation tools, this translates to 222 hours saved.

When it comes to leasing agents, time really is money. In this case around $22.99 per hour on average making for a saving of $5,103 in this case.

Projected across a year, this results in a saving of $20,412 by using Flamingo’s move-in automation tools.

Across the entire 778-unit portfolio, this could potentially lead to savings of $1,607,987 per year.

Easily host resident events

Another way to save all-too-precious time is to stop endlessly searching Google looking for suitable events and simply use a resident event marketplace instead.

These are built into a resident app platform and allow property managers to book events as easily as ordering something off Amazon. These events are specially curated to offer the types of fun experiences that multifamily residents are looking for, taking the stress out of the process.

For residents, this offers a much better experience too. RSVPing is simply a matter of opening their app, looking at their property’s calendar, and confirming they’ll be there.

During and after the event, photos taken can be shared and resident apps can automatically request permission to use them for marketing material or remind residents of such times come the renewal season.

With better events come happier residents and fewer residents moving out of the property, saving on lost revenue.

Announcements and amenity requests

One of the most difficult jobs for a property manager is keeping everyone in a multifamily informed.

Traditionally, announcements involved letters delivered and posters put up within a lobby costing both time and money.

Using the social features built into resident apps instead, announcements can be made to everyone instantly using social walls and even direct messaging. These tools will cause an alert to appear on a resident’s phone much like other social networks, making it convenient and easy for residents to know what’s going on.

Similarly, resident apps can also save time when it comes to amenity requests. Booking means simply opening the app, browsing to the amenity they wish to use, and marking the time they desire. No fuss.

Modern multifamily apartments need a resident app

Resident apps like Flamingo offer a multitude of ways to save time and money. Whether it’s streamlining the move-in process, empowering residents to help themselves, or preventing potential lost revenue, a resident app is fast becoming an essential part of running a multifamily property.

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