1. Turnover Rates
  2. Late Rent Payments
  3. Evictions Time
  4. Eviction Costs
  5. Maintenance Staff Costs
  6. Turnover Time
  7. Operational Staff Costs
  8. Net Vacancy Time
  9. Marketing Costs
  10. Communications Costs

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smartphone

How many text messages did you send today? One, five, ten or more?

While text messaging has been around for years, it’s been primarily in the realm of consumer-to-consumer and some limited B2C in the form of one-way text marketing. But as we start to text our colleagues at work, or SMS customers for customer-service support, it’s quickly becoming one of the most pervasive forms of communication in our tech-driven business culture today.

The way business is conducted, as well as the way we communicate with residents and prospects will change drastically in the next few years. While calling and emailing won’t vanish, expect the number of interactions by text to jump.

 

The Rise of Text Messaging

Did you know that over 560 billion texts are sent every month worldwide? Text messaging users send or receive an average of 41.5 messages per day, with the median user sending or receiving 10 texts daily.

It’s not just Millennials and Gen-Z folks that are giving their thumbs a workout. Gen-Xers and Boomers are embracing texting as well. While young adults (those between the ages of 18 and 29) are the more practiced texters, with an average of a whopping 87 texts sent or received texts every day, older adults (30-49) send or receive about 27 texts per day. Texting is ubiquitous.

 

More Effective Communication

Over the coming years we will see text messaging become the preferred — and most efficient — form of communications with tenants and prospects. Why? Stats say that people text twice as much as they call these days.

And text messages have a 99% open rate and 95% of text messages will be read within three minutes of being sent. (Take that email!)

 

How Property Managers Will Use Texting

Landlords, building owners and property management firms can increase their productivity and efficiency by using text for:

Package Delivery Notices: As Internet shopping continues to grow, the volume of package deliveries to apartment buildings has been staggering. Years ago, it would only take a property manager a few minutes to handle and deliver a package to a resident. There are now so many deliveries that PM firms are even investing in package lockers or delivery holding rooms. Sending text notices to residents upon receipt of the package can ensure that tenants claim their package more quickly, freeing up space and ensuring a timely delivery.

Rent Reminders: Texting a reminder about an upcoming (or late) rent payment saves paper, is more likely to be seen and acted upon. A simple automated text message takes almost no effort and can have a profound impact on receivables.

Referral Requests: Want a quicker and easier way of getting referrals? Try texting. Requests can be sent with a lease renewal confirmation text or as standalone marketing initiatives.

Maintenance Alerts: Improve your customer service by notifying tenants about routine maintenance, or sending text messages to remind them that access is needed to their unit for their requested repairs.

Lead Generation: More and more we are seeing calls to action in ILS listings as well as on other property advertising to text for more information about a particular available unit. Within seconds, prospect can have additional photos, pricing information, location details and everything needed to make a decision faster.

 

How We Can Help

Property Vista’s web-based modules require absolutely no coding or IT experience and you can update or customize your content anywhere, anytime from any browser-enabled device. Our offerings include online applications, resident portals and communication tools that include the ability to text tenants and prospects.

We have everything to help you drive your sales and marketing goals. To learn more about how you can improve your strategy, sign up for your free account today or give us a call.


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