SANTA BARBARA, CA—Yardi Marketing Solution‘s RENTCafé, an online leasing and resident services platform, is helping property management companies to achieve higher occupancy in multifamily properties. Property management company Terragon, recently enlisted the service for its properties in Washington State, and achieved nearly full occupancy rates, averaging between 96% and 98%.
RENTCafé is an online platform that allows prospective tenants to view available apartments, floor plans and photos. The program has a mobile app as well that allows both would-be tenants to use the site on the go and apartment managers to use the site while showing the property. “RENTCafé helps apartment managers boost occupancy by providing a host of digital marketing tools and by providing real time access to apartment pricing and availability and complete online leasing,” Esther Bonardi, industry principal of Yardi Marketing Solutions, tells GlobeSt.com.
The resources through the platform are vast, and include everything from resident referral campaigns through social media and Craigslist ad creation to online application portals and a bill pay system that allows users to pay their rent with a credit card or automatic deduction. “RENTCafé helps apartment managers attract new leads through our marketing portal, and then RENTCafé helps turn those leads into leases with full online leasing,” Bonardi says. “It also helps apartment managers increase resident retention with online and mobile resident services.”
Additionally the product works with Yardi’s property management and accounting portals, Yardi Voyager. The product is currently available nationwide and has 1.6 million units.
The increased occupancy is great news for property managers in Washington submarkets where competition is growing. Several investors are finding value-add opportunities in the submarket, like TruAmerica, which recently purchased a $229 million portfolio with several properties in both Washington and Colorado.