PropTalk: The Entrepreneur’s Journey ft. Caren Maio

About the episode:

Elizabeth Francisco, Chief Experience Officer of Inhabit and Founder of ResMan sits down with President and Chief Strategy Officer at Moved, Caren Maio to discuss what being an entrepreneur has looked like for her, from success to imposter syndrome. Caren Maio is the President of Moved, the industry’s first automated onboarding platform for multifamily operators and new residents. She is also an Entrepreneur-in-Residence at Camber Creek and the Co-Founder of Funnel Leasing (formerly Nestio). Caren is a PropTech thought leader and has been named one of the 15 Women to Watch in Tech by Inc.com, won the Leading Entrepreneur award with Women in PropTech, and was selected as Mentor of the Year by MetaProp. Additionally, she is on the advisory board of New York University’s Female Founders Fellowship program. 

About ResMan: ResMan delivers the property management industry’s most innovative technology platform, making property investments and operations more profitable and easier to manage. ResMan’s platform unlocks a new path to growth for property management companies that deliver consistent NOI improvement and brilliant resident experiences easier than ever before. To learn more about our platform, visit https://learn.myresman.com/proptalk/.

Watch it here:

ResMan Recaps NAA’s Apartmentalize 2022

Wow! We had such a fantastic week at NAA’s Apartmentalize 2022 in sunny San Diego. With over 11,000 vendors and attendees all together at the Convention Center downtown, the trade show was constantly buzzing. From content sessions to parties all the way to the trade show floor, NAA truly put on an incredible event. 

Top Gun Party 

Kicking off the fun-filled week, ResMan and Razz headed down the street to sponsor and welcome over 2,000 attendees to the Top Gun Party on top of the USS Midway (Our call sign? ResManiac!) For all those who have seen the most recent movie, this venue was an incredible sight to see. With entertainment from Tone Loc, our industry’s very own Toni Blake of Totally Toni, followed by Jeff Foxworthy’s hilarious routine, it truly was the kickoff of the year!  

The Booth and LIVE! PropTalk 

Thursday and Friday were filled with great traffic and booths all around! ResMan and Razz’s booth were met with enthusiastic customers and curious property management companies as we gave touch-screen demos for our Multifamily, Affordable, Investor Management and Website products. We had so many new features to show our customers and prospects, including our BudgetsPro tool, ResMan Utilities, Rural Housing and our new integrations with partners like AvidXChange and Nexus! 

We were also privileged to host our PropTalk podcast right at our booth with incredible guests such as Toni Blake from Totally Toni, Jaime Conde of Anyone Home, Mike Brown of InhabitIQ and Stephanie Puryear Helling of SPH Services. From operations to career paths in rental housing, these knowledgeable guests provided incredible thought leadership for those at the booth and for yet-to-be released episodes. Thank you to each of you for hopping on PropTalk with Elizabeth Francisco! 

Catamaran Tour with Razz Interactive 

apartmentalize 2022

On Thursday evening, our sister brand Razz Interactive set sail with an incredible group of our customers for a sunset cruise! It was a perfect evening of catching up with old friends and new, taking in the sights of San Diego Bay. Thank you to all who joined!  

Congratulations to Elizabeth Francisco and Earl Lacey of ResMan! 

This week, two of our very own at ResMan had the privilege of accepting awards from the National Apartment Association in recognition of their contributions to the industry. Chief Experience Officer of InhabitIQ and Co-founder of ResMan, Elizabeth Francisco, was recognized and received the National Supplier Council Achievement Award at the NAA Excellence Luncheon for her years of dedicated service to the National Supplier Council and the industry as a whole. Congratulations, Elizabeth! 

apartmentalize 2022

Earl Lacey, Customer Marketing Specialist at ResMan, was recognized and honored as one of the 20 in Their Twenties, which celebrates individuals who are under 30 years old as the best and brightest in the rental housing industry as well as the professional achievements and potential thus far in their career. Congratulations, Earl! We are so lucky to have such incredible rental housing advocates within the ResMan company. 

Closing Party for Apartmentalize 2022 

NAA closed down the Gaslamp Quarter district in San Diego and put on a block party to be remembered! The ResMan and Razz team had such a great time celebrating such a successful and fun trade show with dancing, drinks and yummy food offered throughout the district vendors and restaurants. We are so thankful to our team, customers, prospects and NAA for making Apartmentalize 2022 in San Diego one to remember! Can’t imagine how it’ll be topped next year. Until then, see you at next year’s Apartmentalize 2023! 

4 Ways Nexus AP Automation Software and ResMan Can Help Mitigate Inflation 

4 Ways Nexus AP Automation Software and ResMan Can Help Mitigate Inflation 

You may have heard that adding Nexus AP automation and payments software to your ResMan property management system can save AP teams lots of time capturing, coding, approving, and paying invoices. 

But eliminating manual workload isn’t the only benefit of integrating these two software platforms. 

Here are four ways Nexus AP automation software and ResMan can help multifamily companies mitigate inflation – which has hit 40-year highs and shows no signs of going away soon. 

1. Shrink overbudget spend – often by 15% 

By integrating Nexus and ResMan, AP teams can easily identify where properties are tracking compared to their forecasted spend – without ever opening Excel or bouncing back and forth between the two platforms. 

Budgets – and actuals – are synced from ResMan every night into the NexusPayables software. So, when an invoice arrives in NexusPayables (often fully coded and through electronic means), an AP manager can compare the invoice to budget and actuals for the line item, property, category, and GL code before they approve it for payment. Approved invoices (and their associated image) are synced to ResMan. 

Some companies even set up approval workflows to automatically route over-budget invoices to different approvers within NexusPayables. 

All this gives the AP team a near real-time view of the expenses incurred to date. From there, they can choose to: 

  • Hold back on spending to offset higher invoices 
  • Encourage property managers to adjust their spending 
  • Renegotiate their rates with suppliers and secure better pricing 
  • Change suppliers 

Some Nexus customers say that by having that data easily at their fingertips, they can reduce over-budget spend by 15% or more. 

2. Lessen Duplicate Purchasing  

With the Nexus/ResMan integration, property managers, maintenance teams, and others can generate an electronic purchase order – within NexusPayables – before they purchase goods and services. 

With a few clicks in NexusPayables, users can create an electronic PO and have it routed automatically to the appropriate approver(s) for their review. 

By requiring an electronic PO for purchases before the purchase, rather than after, AP teams can often reduce duplicate purchasing because they can: 

  • See spend from previous years  
  • Track what they’re ordering and compare it to what has been ordered already 

This is particularly true for office supplies, which can get out of hand easily. In fact, some Nexus customers report the online electronic PO system allows them to save 30% on office supplies alone. 

3. Lower procurement costs by centralizing procurement – often saving as much as 15% 

ResMan clients can incorporate all their national and specialized supply catalogs directly into their NexusPayables platform for trackable and centralized ordering (often requiring an e-PO).  

ResMan customers using Nexus can easily embed their procurement catalogs within the Nexus platform for easy, compliant, and trackable ordering. 

They can require maintenance, property managers, and other users to order from these catalogs – which often reflect specialized pricing that’s been previously negotiated. In fact, some Nexus customers say they’ve reduced prices 10-15% off retail, using their embedded online catalogs. 

They also gain more control by restricting purchasing to approved brands and SKUs.  

4. Bring down costs associated with issuing supplier payments by 40% 

By adding on NexusPayments functionality, ResMan clients can eliminate about 40% of the costs associated with issuing vendor payments. With just clicks, they’ll manage every step of the payment process online, no matter how many vendors they have or bank accounts they use. 

ResMan clients simply generate a file of approved invoices in ResMan and send it electronically to Nexus. Designated approvers – which can include the controller, CFO, or others – review the transactions an approve or reject them for immediate payment. From there, Nexus debits the designated bank accounts and pays vendors directly from those accounts. 

Nexus will issue a Nexus Virtual Card, ACH, or outsourced check, based on client and suppliers’ preferences.  

Many clients find they can eliminate paper checks the moment they launch NexusPayments because so many suppliers trust the Nexus Virtual Card for payment. This, in turn, slashes payments costs by about 40% because there’s no longer a need to purchase check stock, postage, toner, or printers. 

Since so many suppliers accept and trust Nexus Virtual Cards, many customers can stop writing checks on Day One of using NexusPayments. 

Integrate ResMan and Nexus Easily 

At a time when every penny counts, automating invoice processing and payments with Nexus and ResMan make more sense than ever. AP teams will save time, reduce their workload, and even lower their hard costs. And, thanks to the seamless – and longtime – integration between Nexus and ResMan, all these benefits are available without any heavy lift by your teams.  

Both ResMan and Nexus will be at NAA Apartmentalize 2022, June 22nd-24th in San Diego! Let us show you how we can work best for you.

Why Rural Development Housing is Made Easy with the Right Software 

The Affordable housing industry is one with a lot of guidelines. From compliance to daily operations, keeping organized for electronic data submissions is key to the success of affordable properties. Plenty of properties have been using software to better streamline their processes and help eliminate risk associated with compliance. Software can take a huge burden off owner/operators, helping them ensure they are compliant, avoiding violations, costly fines, and potentially even greater consequences.   

Having the right affordable housing solution in place will bring some sort of return to your business. Whatever you are paying for in a software should ultimately result in additional value coming back to your properties and operations – more time, more revenue, less cost, etc. But not all affordable solutions do this, so it’s important to consider your options carefully. Below are some points to consider. 

Your software should support your entire Affordable portfolio. 

Many owners and operators have a mix of different affordable property types – some HUD, some Tax Credit, maybe a few rural and often some properties with layered programs. Each program type has different requirements and regulations, and not all affordable housing software supports all types of programs. As a result, many property management companies find they need multiple different systems to manage their portfolio. Does having multiple systems make operations more complicated than it should be? Wouldn’t it be easier if one system supported all the affordable property types with a company’s portfolio?  

Your software should support the way you operate. 

One of the keys to ensuring you are getting value for your software is to make sure it works for the way your business operates. For organizations with smaller (often Rural Development) properties, it might not make sense to have staff handling the site level tasks. Yet many software solutions are designed assuming that most tasks take place at the property level rather than from a central location. Organizations like this should look for software that can easily separate and organize properties how they need it to be separated. Group your rural housing properties in to one view? This is important. Separate properties based on regional managers overseeing it? Shouldn’t be a problem. The software should ultimately be able to keep you organized and efficient and if it isn’t, you’re not getting enough from your supplier.  

Your software should be easy to use. 

For software to deliver value, it needs to make jobs easier, not harder. If your frontline managers are telling you that software takes a long time to learn or isn’t intuitive to navigate or is hard for them to use, that’s a sign that you aren’t getting the value you should expect. Getting where you need to in the system shouldn’t have to be several clicks and open tabs. It should only have to be a few clicks at most to find what you need.  

Software should also have customization options so your teams can make the most out of their use. Having a customizable dashboard where users can see the valuable information while logging quick actions makes for more efficient operations. When it is easy to use, it is easy to train others to use it, too, meaning you do not have to spend extra time getting employees onboarded, especially in a high turnover industry. 

Your software should make the recertification process smoother.  

Certifications and recertifications are often the most tedious parts of Affordable housing operations- especially when you’re doing this without a great software. And if you have rural properties, handling MINC submissions for every particular property can be a lot. If you’ve considered a software that will help you group properties according to type, you can also find a software that will let you submit recertifications all at one time for the types of Affordable properties you own. No need to do one rural property at a time, just do them all at once! That’s how a software should be, making your operations easier. 

Your software should be browser-agnostic. 

As we like to say, software should be plug and play! Software shouldn’t need to change much of what you’re already using but should simply come on board to make life easier. If your software requires you to be on one kind of browser or one kind of device, it’s disrupting current processes and familiar operating systems for your employees in the long run. 

ResMan is excited to offer Rural Housing compliance management capabilities as part of our affordable housing software solution. Just like our HUD, Tax Credit and layered program features, these rural development capabilities are seamlessly integrated with our comprehensive property management platform that includes screening, waitlist management, online leasing, tenant management, maintenance, accounting, and of course our Compliance Center dashboard! To learn more about what we are offering within one platform for you and your properties, book a demo so we can walk you through it!  

PropTalk: LIVE! From ResMania Cocktails & Compliance Episode 5 ft. Jenny DeSilva and Stacy Day

ResMan’s Affordable Compliance experts, Rue Fox and Janel Ganim, are coming to you live from ResMania 2022! We served ResMan Blue Margaritas to our audience so this is most certainly a fun episode. Joined by Tax Credit expert, Stacy Day of Karen Graham Consulting and HUD expert, Jenny DeSilva of DeSilva Housing Group, hear everything from updates about TRACS 203-A, the importance of electronic signature adoption, why software can give you a lift and more on today’s episode! 

About ResMan: ResMan delivers the property management industry’s most innovative technology platform, making property investments and operations more profitable and easier to manage. ResMan’s platform unlocks a new path to growth for property management companies that deliver consistent NOI improvement and brilliant resident experiences easier than ever before. To learn more about our platform, visit https://learn.myresman.com/proptalk/.