Where do multifamily property managers turn when looking to stand out from the competition? While having the biggest, best, and flashiest amenities sounds like the only way, there are other ways to gain a competitive advantage. And it’s one that doesn’t involve turning your rooftop into a luxury pool deck, renovating 200+ units with wood flooring, or relocating to the hot-spot district in your city.
Residents compare properties based on how they can personally benefit the most — be it competitive pricing, amenities, or perks. So being the only property to offer something that your competition isn’t can be just as effective as the amenities listed above.
Compete with Credit Builder
What if a resident could build a positive credit score by just paying rent? By simply having you, the property management company, report their on-time rent payments to the three major credit bureaus, your residents can start racking up impressive credit scores that will benefit them in the long run.
As most properties work today, a resident’s credit score can only suffer if they miss their rent payments and become delinquent. However, good renters never see the benefits of not being delinquent. Not anymore.
ResMan has introduced Credit Builder as a way for property management companies to attract more residents and experience higher revenues by simply offering a credit-building amenity to their renters.
If two properties are similar in amenities, location, and quality of living, but one offers renters the ability to improve their credit scores by simply paying rent on time — you’ll likely tip the scale.
The Blue Rock Partners Case
The Blue Rock Partners has embraced this amenity on The Park at Morella, located outside of Atlanta. And they have seen first-hand the positive resident response.
“We were so excited to learn about the new program that we made a display for the corner of our office,” says Leasing Manager, Tara Martin.
Once the team at The Park at Morella finished the construction zone, they had created buzz by the very next day.
“We signed up a few people today and educated so many more residents about the program. I can’t wait to see how many we sign up by the end of the week,” says Martin.
Blue Rock Partners always looks to innovate. As an industry-leading multifamily management company, they strive to impact their properties by empowering their residents. Moreover, they inspire passion in their people, who make the apartment community an environment residents love to call home.
Their partnership with ResMan has fueled their properties’ success even further. ResMan’s robust property management software, Solutions Suite, enables Blue Rock Partners to bring innovative opportunities to the property level that larger stacked solutions don’t have the capacity to do. ResMan’s Credit Builder is mutually beneficial for residents and property management companies, ensuring increased revenue & NOI with no cost to the property — all by attracting responsible renters and decreasing delinquent payments.
For more information on ResMan’s Credit Builder: visit https://myresman.com/features/credit-builder/