The landscape of the rental market has evolved significantly in recent years, with the focus shifting from traditional property operations to prioritizing the experience of consumer-renters. The pandemic further accelerated this transformation by turning multifamily rental properties into bustling delivery storefronts. Let’s explore how some companies are embracing this shift and authoring a new era of renting. This morning, a big move by Courtland was announced in the hiring of Avison Young’s former US Chief in a move to embraced this consumer-renter focus. We’ll discuss this and how Leasera, a consumer-first, digital amenity-driven solution, is leading the charge in providing a new era of renter experience that reshapes the fabric of today’s rental market.
The Shift Towards Consumer-Renter Experience
In a LinkedIn post by Kim Duty, it was highlighted how Avison Young’s former US Chief moved away from the traditional approach of property operations and placed greater emphasis on understanding and catering to the needs and desires of consumer-renters [1]. Instead of just providing a physical space, the focus shifted to creating an enriched experience for renters, considering factors such as convenience, amenities, and overall satisfaction.
The Pandemic’s Impact on Commerce and Rental Properties
The pandemic brought about a profound shift in consumer behavior, drastically altering the way people sought goods and services. With external brick-and-mortar stores becoming less appealing over the last decade, it was drastically accelerated due to health concerns brought on by COVID. Multifamily rental properties turned into an unexpected hub for deliveries and direct supplier targeting [1]. This paradigm shift demonstrated the need for landlords to adapt and innovate, providing a seamless and efficient rental experience that meets the evolving demands of modern renters while also searching for new ways to create more accessibility to meet the needs of changing consumer demand.
Pioneering the New Era of Renter Experience
Enter Leasera, to some, a no-brainer solution that departs from rental market norms. Leasera’s product, REM (Rental Ecosystem Management) offers an industry altering solution and new category in the property management software space. Leasera takes a consumer-first approach, creating a new layer of commerce around every rental property they work with [2]. Of course, this is just one company’s take on where our market is going but this is industry tested and market accepted. At Leasera, we’ve realized that helping landlords attract better renters and creating a more robust rental experience to hand-in-hand. Here’s how we went about solving the industry’s rental market challenges and why we believe it’s provided a platform for continued innovation and opportunity:
Full Featured Property Management Software — FREE
At the basis of every rental property’s needs is the assurance that their finances will be secure. It’s table stakes. Like every investment, some capital must wagered, and more must somehow be returned over time. Property management software was built to support this. These features cover marketing, leasing, CRM, vendor and maintenance as well as reporting and accounting. Although we continue to see advancements and increasing sophistication in these categories, these are are at best, relatively commoditized features and at least, the value of being good at these categories is well understood within the market. Leasera’s rental platform, REM, makes these solutions easier to use and more balanced against the rest of the demands placed on the shoulders of landlords. And yes, we can provide it for free of traditional per unit SaaS fees because of our ability to create a greater layer of commerce that both property managers and consumers love.
Marketplace of Digital Amenities
Leasera’s innovative marketplace of digital amenities empowers renters to customize their rental agreements with added conveniences like laundry service, grocery delivery, parking options, and so much more[2]. This flexibility enhances renter satisfaction and sets rental properties apart from the competition.
Rental Payment Portal
With Leasera’s secure and convenient rental payment portal, renters can effortlessly pay their rent online, eliminating the need for traditional paper checks [2]. This modern payment method streamlines transactions and increases efficiency for both landlords and renters. But we didn’t stop there, we can now offer ways that renters can begin creating their own income opportunities which means they can be paid or compensated as well. It’s a two way street (more on that another time).
Loyalty and Benefits Program
Leasera provides a proprietary loyalty and benefits program that touches nearly every payment, service and user within our system from property management teams, to service vendors, and of course the renter [2]. It’s important that consumers understand that the money they pay carries more benefits than keeping a temporary roof over their head. It’s important that we move the narrative towards an investment in their lifestyle and an access point to greater benefits.
What Do You Mean, “Greater Benefits”?
Beyond the core features, Leasera offers several other advantages for landlords:
Increased Occupancy Rates: Leasera’s platform attracts more renters, leading to improved occupancy rates for rental properties [3].
Reduced Vacancy Costs: By minimizing vacancy periods, landlords can mitigate lost rent and marketing expenses [3].
Improved Renter Satisfaction: The platform’s user-friendly experience and array of amenities contribute to higher renter satisfaction rates [3].
Increased Revenue: Leasera’s marketplace of digital amenities enables landlords to generate additional revenue streams [3].
Stronger Community: Access is a core philosophy at Leasera. Creating connection between local and national services that are affordable is important. These should support the demands of both property management teams/landlords as well as consumers.
As the rental market continues to evolve, embracing a consumer-first approach is paramount for landlords seeking to attract better renters and thrive in this new era. Leasera’s digital amenity-driven solution is revolutionizing the rental experience, providing landlords with a competitive edge in the market. By prioritizing convenience, satisfaction, and customization, organizations will create a wave of new innovation and perspectives within the rental industry. We will continue to set the stage for a future where every rental property becomes a haven and community of delighted and loyal consumer-renters.
Remember, if you’re a landlord looking to elevate your rental property’s experience and enhance your bottom line, Leasera is the perfect partner for your journey. Contact Leasera today to embark on a transformational path in the rental market.
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