RENTAL HOUSING JOURNAL UTAH
Rent Dynamics ..continued from front page were shocked to learn that 40% of rental calls to apartment communities went unanswered due to insufficient staffing or ineffective call routing patterns. These are some of the best leads” Rich says by setting up a 24 hour call center to answer calls and rent apartment units when owners and managers are unavailable, Rent Dynamics can turn more calls into leases and make apartment communities more money. He cites an example that the Rent Dynamics team just leased 100 apartments for a new property in Oakland that was in a time crunch in order to qualify for tax credits before the end of the year – those are calls and leases the staff otherwise would have missed or taken longer to convert! “Some owners and managers dismiss call centers right off the bat assuming this service may be too cost prohibitive,” says Clint Reeves, VP of business development for Rent Dynamics. “But the reality is that if we can help you rent just one more apartment than you would have on your own it would more than pay for our services. It’s very cost effective,” he says. “If communities want to remain competitive in today’s market they can’t afford to miss these lost opportunities". “Rent Dynamics has been a fan-
tastic partner helping us to reduce marketing spends, increase occupancy and drive rents,” says Janae Jarvis, Utah Regional Vice President for Wasatch Property Management, one of the leading property management companies in the Western US with nearly 18,000 units. “Their Contact Center has enabled us to capture more leads and provide a superior resident experience,” she says. Jarvis says that through their strategic partnership with Rent Dynamics they have been able to improve operational efficiency and differentiate themselves in the marketplace. According to Reeves, the call center is just one of the services Rent Dynamics provides to help apartment increase revenue and optimize performance. Providing additional Income One of the services Wasatch likes most in the Rent Dynamics package is called RentPlus, a credit building service for renters. “This service is new and groundbreaking within the property management industry,” says Reeves. “Renters opt into the service and pay an additional fee each month to have their rent payment reported directly to the major credit bureaus. Residents love it because it actually helps them build
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credit by simply paying their monthly rent. Communities love it because it is additional revenue stream and delivers tools and incentives to ensure residents pay their rent on time" at the end of the sentence.” Modern tools for communicating with residents In the modern world communicating with residents can be a major challenge. So Rent Dynamics created a texting tool to help apartment managers communicate with their residents. “The way it works,” explains Rich, “is apartment communities sets up automatic text reminders for residents on such things as rent reminders and facility closings. These reminders keep tenants up to date. Also, properties can send other alerts – invites to community events, notification of food drives or a notification of a lost pet. It’s also a great way to communicate in an emergency. Residents can reply by text to ask a question, put in a service order, etc., and the call center staff will respond immediately. It increases resident satisfaction levels and reduces work for the community,” he says. Wasatch’s experience using the texting program led to an article that is being published in March’s issue of Units Magazine and in this issue of the
Utah Rental Housing Journal. Reputation Management Another area Rent Dynamics helps clients with is reputation management. With online reviews being widely read by prospects, negative reviews from disgruntled tenants can really hurt your business. Rent Dynamics’ reputation management service helps control damaging reviews and counter them with good reviews to help the property receive high ratings. According to Rich, over 70% of their clients rate in the top 5% for apartment quality online. Conceived as a solution for some of the major problems and inefficiencies within the property management industry, Rent Dynamics is succeeding and helping connect communities to higher profits, provide better service and communication to their residents and garner higher online ratings, say Rich and Reeves. Rent Dynamics is based in Logan, Utah and is a Premier Sponsor of the Utah Apartment Association. For more information, contact Clint Reeves at 435-227-0870 or creeves@rentdynamics.com or visit rentdynamics.com
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Rental Housing Journal Utah • February 2015
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