3 highlights from the Real Estate Women's Forum
Last week, Jetty’s Head of Strategic Partnerships, Deanna Simone, spoke alongside a talented group of women in multifamily at the GreenPearl Real Estate Women’s Forum. Their panel, Multifamily Operations, Technology & Innovations, touched on operational challenges, emerging technology, and innovation in the multifamily space.
Here are three highlights from their conversation.
1. Technology is now the expectation
When Covid first hit, properties had to quickly adapt to changing applicant requirements. The need for virtual experiences and the need to keep as much cash as possible in the renter's pocket were two trends that quickly started to emerge.
Offering the convenience of high-quality, virtual tours reduced barriers for a lot of applicants, especially at the beginning of the pandemic. They’ve since increased the ease of touring a unit for prospective renters, which has positively impacted leasing volume.
At the same time, with the financial uncertainty many renters faced, keeping cash in the bank was more important than ever. Deposit replacements, like Jetty Deposit, saw unprecedented demand as a result, and this demand has continued into 2022.
2. The value of user-friendly amenities
Perhaps the biggest trend in 2021 was the growth of digital and financial amenities to attract new renters, which can be added by properties without much cost. Deposit replacements, although not necessarily new, really hit their stride as residents focused on maximizing liquidity as discussed above.
Another financial amenity that started to gather traction in 2021 was flexible rent payment programs, like Jetty Rent, where renters can choose when they pay their rent. The panelists unanimously agreed that we’re likely to see continued innovation in this area in 2022 and beyond.
3. The importance of operational efficiency in proptech
While the emerging crop of proptech solutions can provide a powerful tool for improving resident experience and delivering NOI, making sure that the vendor you choose efficiently operates alongside your existing PMS is important to look for (we even put together sample deposit alternative and flexible rent RFPs to help you make sure you’re asking the right questions).
These are just a few of the many thoughtful topics that were touched on during their panel discussion. It was great hearing how leaders in the space are using technology and innovation to continually evolve and grow their business.