Reopening Multifamily Part 3: Resuming Amenity & Maintenance Services

To help multifamily companies balance safety, resident satisfaction, company viability, and legal compliance as they begin to reopen communities, Grace Hill has launched a series of articles and tools that support the reopening response. Part one of the series introduces strategies for reducing liability risk. Part two of the series discusses establishing new leasing practices.To help multifamily companies balance safety, resident satisfaction, company viability, and legal compliance as they begin to reopen communities, Grace Hill has launched a series of articles and tools that support the reopening response. Part one of the series introduces strategies for reducing liability risk. Part two of the series discusses establishing new leasing practices.

NAA Mini-Webinar: Amenity AwarenessReopening Multifamily Part 3: Resuming Amenity & Maintenance Services

Reopening Multifamily: Strategic Response Series Part 1 – Reducing Liability Risk

Reopening Multifamily: Strategic Response Series Part 2 – Establishing New Leasing Practices

Reopening creates potential liability for multifamily companies on numerous fronts, including the risk of workers’ compensation claims from infected employees, liability claims from infected residents, and discrimination or invasion of privacy claims due to actions taken to mitigate risk.
The financial impact of any one of these could be significant, so understanding the legal implications should be the first step to establishing reopening policy.

Survey your residents to assess effectiveness

While our latest Resident Sentiment Report gives you a good picture of the market overall, surveying your specific residents will help you assess how effective your reopening policies are being implemented and communicated at your specific communities. Surveying can help you reduce liability by getting an accurate read on your residents’:

  • Feeling of safety at their community
  • Understanding of and comfort level with reopening practices
  • Satisfaction with community response, including communication strategy

Reopening Multifamily: Strategic Response Series

Multifamily companies across the country are working to implement new policies and practices that will help keep communities safe and compliant with local guidelines and regulations while allowing for freer movement within the community. Just as the onset of COVID-19 did, the reopening phase presents new challenges companies must navigate in the interest of preserving safety, resident satisfaction, company viability, and legal compliance all at the same time. 

 

Reopening Multifamily: Strategic Response Series

 

To help companies balance these, at times competing, objectives, Grace Hill is launching a new series of free articles and tools that support the multifamily reopening response. We’ll address some of the biggest challenges we’re hearing from on-the-ground operations leaders, like:

  • How do we balance company-wide policy with regional variations in legal guidelines?
  • How can we reduce our liability risk?
  • What new policies and technology are needed to accommodate new leasing practices?
  • How should we resume maintenance and amenity services?
  • What do we need to keep in mind when establishing rent collection and eviction practices moving forward?
  • How do we support our on-site teams with the information and skills they need to perform safely in a reopened community? 

 

Reopening Multifamily: Strategic Response Workbook

 

One of the tools we’ve created to support your reopening efforts is the Reopening Multifamily: Strategic Response Workbook. This workbook will help you streamline strategic planning so you can better apply appropriate legal guidance for individual communities. Use this workbook to keep track of operational decisions and identify where new communication, technology, policies, and training are needed.

 

Part 1: Reducing Liability Risk While When Reopening

 

Reopening creates potential liability for multifamily companies on numerous fronts, including the risk of workers’ compensation claims from infected employees, liability claims from infected residents, and discrimination or invasion of privacy claims due to actions taken to mitigate risk. 

The financial impact of any one of these could be significant, so understanding the legal implications should be the first step to establishing reopening policy. 

 

Consult a local attorney for each state you operate in 

Just as pandemic guidance and regulations vary greatly depending on where a property is located, so does liability. For example, some states’ workers’ comp systems have severe limits on the remedies that can be sought by an injured (or infected) worker, while others do not. Getting a thorough sense of the liability your company faces for any property will help you determine how aggressive or conservative your reopening policies should be.  

 

Know your insurance policies 

Do not assume you know what your policy covers and what it excludes. Many general liability insurance policies contain exclusions for liabilities related to infectious diseases, for example.

 

Develop, document, and enforce a plan to mitigate risk

While it will not waive your liability, having a documented policy for mitigating risk and demonstrating that you made every effort to enforce that policy, including training staff, could provide a legal defense in the case of a claim. 

 

The information you get from federal, state, and local authorities should inform every aspect of your reopening strategy.

 

Follow the Series

Stay tuned for our next installment, Reopening Multifamily: Establishing New Leasing Practices.

 

Reopening Multifamily: Strategic Response Series Part 2 – Establishing New Leasing Practices

Reopening Multifamily: Strategic Response Series Part 1 – Reducing Liability Risk

Assessing New Leasing Practices

Surveys and mystery shopping can help ensure a “yes” answer to the critical questions above. Virtual leasing provides an oversight challenge, especially with so many employees working remotely. Having virtual presentations mystery shopped will allow you to gain insight into whether residents are getting the experience you want them to have, and surveys will help you determine resident comfort and satisfaction with that experience.

Part 2 – Establishing New Leasing Practices

To help multifamily companies balance safety, resident satisfaction, company viability, and legal compliance as they begin to reopen communities, Grace Hill has launched a series of articles and tools that support the reopening response. Part one of the series introduced strategies for reducing liability risk. These strategies should be used to develop all reopening policies and practices.

Is Your Virtual Leasing Experience Converting to Sales?

https://gracehill.com/virtual-leasing-that-converts/https://gracehill.com/virtual-leasing-that-converts/

Virtual Leasing – The Good News

virtual tours are NOT the same thing as virtual leasingvirtual tours are NOT the same thing as virtual leasingTo learn all of the essential components of a profitable virtual leasing program download Virtual Leasing That Converts: The Essential Multifamily Guide to Optimizing Virtual Leasing.To learn all of the essential components of a profitable virtual leasing program download Virtual Leasing That Converts: The Essential Multifamily Guide to Optimizing Virtual Leasing.

virtual tours are NOT the same thing as virtual leasing

In the past year, the willingness of customers to lease without an in-person tour has more than doubled, increasing from 14% last year to 30% as of April 2020 (Kingsley Survey April 2020). While that’s great news for our industry and current situation, the same individuals noted that 48% of the time, their virtual lease experience didn’t give them sufficient information to make a decision. Without being able to go onsite, it’s up to leasing professionals to do a stand-out job of making the customer comfortable leasing sight-unseen.

 

Because it gives you the ability to show prospects what they want to see faster, virtual leasing has the potential to significantly increase lead-to-lease conversion rates. But for virtual leasing to convert, you have to ensure that every step of the process builds the trust, rapport, and confidence customers need to make a final decision. 

 

Here are a few of the most common reasons your virtual leasing might not be converting. 

To learn all of the essential components of a profitable virtual leasing program download Virtual Leasing That Converts: The Essential Multifamily Guide to Optimizing Virtual Leasing.

 

Leasing Agents Aren’t Using Video to Converse with Buyers

Having a strong connection with your buyers makes them more comfortable sharing their objections, giving feedback, and just being real. Showing genuine interest, a friendly smile, reading the customer, and finding a connection are important components of developing rapport that can be difficult to achieve over email or phone alone. Video allows smiles to be shared, body language to be read, and connections to be made. Building this trust and having this connection increases buyers’ comfort level in making a decision with you.   

 

Virtual Tours Are Self-Guided

The Internet is flooded with images and digital content. Even before this pandemic, 95% of customers started their apartment search online–looking at pictures, checking out 3D tours, and viewing videos. How can you be memorable in this space if you’re simply sending the customer a link to a self-guided video tour? A live leasing presentation is what makes the difference between a generic experience and a personalized one. Selling the features based on a particular buyer’s custom preferences makes the experience memorable.

 

Leasing Presentations Aren’t Collaborative

The ability to get buy-in and commitment from a prospective resident can be one of the most challenging parts of virtual leasing. It is up to the leasing professional to ensure the customer has the information and experience they need to feel confident in their decision without seeing the apartment in person. This is done through meaningful collaboration with the customer, engaging in conversation, asking purposeful questions with immediate, helpful responses that match their needs with the features of the community. It’s this investment in the customer that demonstrates the leasing professional’s genuine interest and achieves a higher level of customer service. 

 

If your goal is to maintain a high standard for customer experience, then it is important to know what is or isn’t happening in your customers’ virtual leasing experiences. Unfamiliar practices, new technology, stressful circumstances, and lack of training can all lead to missed opportunities and lost sales. Download our virtual leasing guide to find out how you can overcome those challenges and increase your sales.

In the past year, the willingness of customers to lease without an in-person tour has more than doubled, increasing from 14% last year to 30% as of April 2020 (Kingsley Survey April 2020). While that’s great news for our industry and current situation, the same individuals noted that 48% of the time, their virtual lease experience didn’t give them sufficient information to make a decision. Without being able to go onsite, it’s up to leasing professionals to do a stand-out job of making the customer comfortable leasing sight-unseen.

 

Because it gives you the ability to show prospects what they want to see faster, virtual leasing has the potential to significantly increase lead-to-lease conversion rates. But for virtual leasing to convert, you have to ensure that every step of the process builds the trust, rapport, and confidence customers need to make a final decision. 

 

Here are a few of the most common reasons your virtual leasing might not be converting. 

To learn all of the essential components of a profitable virtual leasing program download Virtual Leasing That Converts: The Essential Multifamily Guide to Optimizing Virtual Leasing.

 

Leasing Agents Aren’t Using Video to Converse with Buyers

Having a strong connection with your buyers makes them more comfortable sharing their objections, giving feedback, and just being real. Showing genuine interest, a friendly smile, reading the customer, and finding a connection are important components of developing rapport that can be difficult to achieve over email or phone alone. Video allows smiles to be shared, body language to be read, and connections to be made. Building this trust and having this connection increases buyers’ comfort level in making a decision with you.   

 

Virtual Tours Are Self-Guided

The Internet is flooded with images and digital content. Even before this pandemic, 95% of customers started their apartment search online–looking at pictures, checking out 3D tours, and viewing videos. How can you be memorable in this space if you’re simply sending the customer a link to a self-guided video tour? A live leasing presentation is what makes the difference between a generic experience and a personalized one. Selling the features based on a particular buyer’s custom preferences makes the experience memorable.

 

Leasing Presentations Aren’t Collaborative

The ability to get buy-in and commitment from a prospective resident can be one of the most challenging parts of virtual leasing. It is up to the leasing professional to ensure the customer has the information and experience they need to feel confident in their decision without seeing the apartment in person. This is done through meaningful collaboration with the customer, engaging in conversation, asking purposeful questions with immediate, helpful responses that match their needs with the features of the community. It’s this investment in the customer that demonstrates the leasing professional’s genuine interest and achieves a higher level of customer service. 

 

If your goal is to maintain a high standard for customer experience, then it is important to know what is or isn’t happening in your customers’ virtual leasing experiences. Unfamiliar practices, new technology, stressful circumstances, and lack of training can all lead to missed opportunities and lost sales. Download our virtual leasing guide to find out how you can overcome those challenges and increase your sales.

Is Your Virtual Leasing Experience Converting to Sales?

In the past year, the willingness of customers to lease without an in-person tour has more than doubled, increasing from 14% last year to 30% as of April 2020 (Kingsley Survey April 2020). While that’s great news for our industry and current situation, the same individuals noted that 48% of the time, their virtual lease experience didn’t give them sufficient information to make a decision. Without being able to go onsite, it’s up to leasing professionals to do a stand-out job of making the customer comfortable leasing sight-unseen.

 

Because it gives you the ability to show prospects what they want to see faster, virtual leasing has the potential to significantly increase lead-to-lease conversion rates. But for virtual leasing to convert, you have to ensure that every step of the process builds the trust, rapport, and confidence customers need to make a final decision. 

 

Here are a few of the most common reasons your virtual leasing might not be converting. 

To learn all of the essential components of a profitable virtual leasing program download Virtual Leasing That Converts: The Essential Multifamily Guide to Optimizing Virtual Leasing.

 

Leasing Agents Aren’t Using Video to Converse with Buyers

Having a strong connection with your buyers makes them more comfortable sharing their objections, giving feedback, and just being real. Showing genuine interest, a friendly smile, reading the customer, and finding a connection are important components of developing rapport that can be difficult to achieve over email or phone alone. Video allows smiles to be shared, body language to be read, and connections to be made. Building this trust and having this connection increases buyers’ comfort level in making a decision with you.   

 

Virtual Tours Are Self-Guided

The Internet is flooded with images and digital content. Even before this pandemic, 95% of customers started their apartment search online–looking at pictures, checking out 3D tours, and viewing videos. How can you be memorable in this space if you’re simply sending the customer a link to a self-guided video tour? A live leasing presentation is what makes the difference between a generic experience and a personalized one. Selling the features based on a particular buyer’s custom preferences makes the experience memorable.

 

Leasing Presentations Aren’t Collaborative

The ability to get buy-in and commitment from a prospective resident can be one of the most challenging parts of virtual leasing. It is up to the leasing professional to ensure the customer has the information and experience they need to feel confident in their decision without seeing the apartment in person. This is done through meaningful collaboration with the customer, engaging in conversation, asking purposeful questions with immediate, helpful responses that match their needs with the features of the community. It’s this investment in the customer that demonstrates the leasing professional’s genuine interest and achieves a higher level of customer service. 

 

If your goal is to maintain a high standard for customer experience, then it is important to know what is or isn’t happening in your customers’ virtual leasing experiences. Unfamiliar practices, new technology, stressful circumstances, and lack of training can all lead to missed opportunities and lost sales. Download our virtual leasing guide to find out how you can overcome those challenges and increase your sales.