Calendar icon March 29, 2023

Marketing Ideas for Property Management Companies

When it comes to marketing ideas for property management business, the landscape has changed so much in the past few years. Digital marketing has phased out old practices and brought dynamic, exciting tools along with unique challenges. 

Effective Property management marketing will leverage those digital tools, while not losing the human touch that makes resident experience and engagement so effective. 

A property management marketing plan should include digital strategies, multiple channels, and goals for increasing your number of doors. Here we dive into the process of constructing a good marketing strategy for your property management company with 10 of the top marketing ideas for property management.

We’re joined by Rodney Hays of Geekly Media (formerly RentBridge), who has spent a lot of time conducting marketing specifically for property managers, as well as Second Nature marketing professionals Carol Housel and Brandy Hammond.

 

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10 Property Management Marketing Ideas To Grow Your Company 

We have 10 property management marketing ideas that leaders in the industry recommend for growing your PMC. They're cost-effective and shown to have high return on investment.

1. Create and Follow a Content Marketing Plan

A big part of digital marketing for property management is content marketing, which is defined as media creation (videos, articles, social media) designed to inform rather than to persuade. 

A good content marketing strategy gives you access to potential clients in the places they are asking questions. This includes places like Facebook, LinkedIn, and Google, where investors and potential investors consume real estate investment content that you can provide.

The goal of content marketing is to grow your target audience and give them useful information that both adds value to their business and establishes your company as a subject-matter expert. 

So, what kind of content is useful in property management marketing? Here’s what Rodney Hays has to say:

“[Real estate investors] are going to ask questions about lease agreements and tenant screening. They’re going to ask questions about evictions, emotional support animals, those types of questions are always going to come up.”

2. Invest in SEO to build Organic Traffic 

Search engine optimization (SEO) is the process of optimizing a website to send signals to search engines and their users to gain organic visibility. It helps extend your online presence.

Search engines, mainly Google, are the number one place where people begin their search for information. Content hosted on your website that addresses the most common questions your target audience is asking can position you well on the search engine results page (SERP), leading to increased website traffic. 

So how do you find out what topics to build content around? 

SEO programs, such as Semrush and Ahrefs, have an incredible database of keywords and common search terms, along with insights for those terms such as how much competition exists in the rankings, how much search volume there is, and how often searches result in a click.  

You can also use the “people also ask” tab in the actual SERP to see what common questions are being asked. Then it’s just a matter of addressing the questions in a useful way to start increasing traffic to your website. 

A big part of SEO is identifying what your potential new clients are interested in. A good content marketing plan follows that up with useful content that addresses the questions and leverages the specific keywords associated with them. Useful is the keyword here. Google is smart, and the analysis it conducts on webpages is extensive, so it will know if you’re just writing some slop and jamming keywords into it. 

3. Build a Content Distribution Strategy 

Okay, so now you’ve developed content that meets SEO requirements and hits on topics that bring value to your potential customer. What’s next?

Now you need to build a high-quality content distribution strategy. In others words, figure out how to get your messaging in front of your target audience. 

A distribution strategy involves assessing where your primary audience is on a daily basis. You can likely reach them on social media platforms, email, direct mail, podcasts, regional conferences, local listings, and more. 

Identify what pieces of content best match each platform. For example, a longer form piece should be linked via social media with a catchy blurb or infographics to hook your readers. You can plan regular newsletters or other email campaigns or FAQs to leverage content, as well. 

A few of the best ideas for distributing your content:

  • Share on social media: Twitter, Facebook, Instagram, LinkedIn, TikTok
  • Link to and reach out to real estate professionals and bloggers
  • Ask to share gust posts on sites related to property management or real estate

4. Build an Email List

Email marketing is one of the most effective ways to reach your target audience, drive new leads, and nurture existing ones.  You can use email marketing tactics to increase sales and your bottom line. 

But it’s not always easy to nail email marketing on the target. According to MailChimp, the average open rate for property management emails is just under 20% and the click-through rate is less than 2%. Not great, we know.

That’s why building the right email list can make all the difference. Creating a targeted email list requires a good amount of research, knowledge of your target market, and email marketing tools to help you get there. Digital marketing products like Hubspot, ZoomInfo, and Klaviyo can help you get there.

 

download rental inspection checklist template

 

5. Host Networking Events For Brand Awareness 

Of course, digital isn’t everything – in-person events and community-building strategies work, especially in something as hands-on as property management.

If you have the resources, hosting events can boost your brand awareness and company reputation in your area. Because property management is so regional – and creating a niche in the market is key to success – these highly targeted events work exceptionally well in the property management industry. A referral program is a great way to go about this, as long as its within legal regulations.

6. Invest in Online Advertisement

Paid marketing efforts for property managers are more about visibility and awareness. They’re high-funnel and useful if you have a budget for them. 

Hays notes that Geekly clients opt for Facebook, LinkedIn, and sometimes Twitter as targeted social channels. Facebook and LinkedIn have far and away the most active property management discussions and, in addition to paid search, are where you can see the most value for your investment. 

When it comes to old- school paid marketing efforts, Facebook ads are among the best ways to advertise property management services. Ads on Facebook are pretty easy to run and include useful features for property managers such as geotargeting. 

“Facebook ads are a great gateway into paid ads, since Google ads typically require a much higher budget to get similar performance. Facebook in the past has had a lower cost per click, so you’re getting higher performance from it for less lift and less spend, which is why I recommend it as a really good starting point,” says Brandy Hammond, B2B Marketing Specialist at Second Nature. 

Certain ad platforms, including Facebook, also offer geotargeting and audience mirroring, which are useful to property managers who need to target specific audiences in specific regional areas. 

“One thing I do love about Facebook ads, like with any other kind of paid ads, is that you can geotarget. Especially with property management and real estate, it makes sense that you’re going to target a specific area because, depending on the scale of your PMC, you probably don’t have national properties,” continued Hammond. 

7. Build and Execute a Social Media Marketing Strategy 

Your social media strategy should include connecting with and tagging important accounts in your area and industry, and building cross-links and cross-posts with other accounts that might have an audience with your target market. 

For every piece of content or event you plan, you need to map out how you will share it on social media. 

Rodney Hays of Geekly has opened a lot of industry news pages for clients and recommends sharing them across social channels whenever they’re updated. 

“Our customers will put their industry news page out there; they'll pull in like 15 or 16 new articles every month. And then, out of those 15 or 16, we will take eight of those and put a third-party link in it and send those out on social media as well. And I think that's done pretty well in bringing in some different traffic that you know, it's just another resource for the people that might be visiting your page,” says Hays. 

8. Manage Your Online Reputation 

Your online reputation is made up of all the touchpoints anyone could have with your brand online. This includes Facebook, LinkedIn, Instagram, Twitter, Google Reviews, Yelp, and more. 

One of the biggest threats to online reputation is reviews. Your marketing plan should include regular maintenance and attention to your online reviews. How are people talking about you online in your comments section, Google Reviews, and Yelp Reviews? 

If you see any negative comments that have constructive feedback, make sure you reach out to the person and find out how you can improve or make it right. Respond to the review or comment publicly with a polite and professional tone.

You can’t make everyone happy, but the way you deal with negative feedback goes a long way to protecting your online reputation.

9. Invest in Thought Leadership Content (Podcasts, Videos, Blogs) 

Many property managers maintain a constant stream of content through a website blog. 

Real-Time Leasing’s website has extensive content written by their CEO, Deb Newell, who is also a property management consultant. Others communicate useful content with podcasts, such as AHI Properties and Evernest (link to Andrew’s episode), both of which appeared on the Triple Win Property Management podcast. 

“Good content seizes opportunities you’ve identified through SEO or other forms of communications and delivers actual value to the readers. A holistic strategy covers both of those parts, and you’ll fail to realize the potential of your marketing efforts if you skip one of them,” says Second Nature Marketing Services Manager Carol Housel.

A popular content curation strategy used by Geekly Media is the industry news page, an example of which can be found here. This is curated content. It’s not written by the property management company, but rather compiled from sources and shared all in one place, which still creates a lot of value and a reason for real estate investors to be on your website. 

10. Build and Maintain Your Presence in Local Business Listings 

A point will come where a large portion of your new doors will come from referrals. People don’t usually get into real estate without talking to people, so word gets around. 

Welch-Randall, a property management firm based out of Ogden, Utah, attributes 92% of its new doors to referrals. This is the mark of a business with established authority reaping the benefits of the work it put in to create that trust. 

A big part of ensuring that you get those referrals is keeping a presence in local business listings. Make sure that people can easily find you, even if they hear of you through word-of-mouth. Stay top-of-mind with partners you’ve worked with, and keep your listings up to date.

This is particularly useful in property management, where most of our work stays within specific local and regional areas. 

Final Thoughts

Becoming an industry-leading property management company is about more than just the number of doors you manage. There is a saying in marketing that perception equals reality. If you want potential clients to perceive your company as an industry leader, you have to give them a reason to believe that you are. That’s the point of a marketing strategy that seeks to establish the company as an authority in the space. 

This is the end state of everything discussed above. This is the fruits of your labor. Real estate investors, especially new ones, above all else, are looking for expertise in the real estate field to guide them through the ownership of their assets. By achieving visibility and brand awareness via paid channels and SEO, and following that up with useful content that answers the questions most important to investors, you’re establishing your company as a trustworthy and knowledgeable option for investors. By answering the questions they have, you’re also driving them closer to a decision. And when you’ve provided them the answers, guess which PMC they’re most likely to want to work with.

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10 Steps to Onboard New Tenants

For property management companies, new tenant onboarding represents a cornerstone of the "Triple Win" philosophy we advocate here at Second Nature. That's because an optimal process benefits all parties. First, a smooth onboarding experience fosters tenant satisfaction and delivers winning conditions for a positive tenant relationship with their new home. It recognizes their role as property residents rather than transactional entities, and sets a positive tone for their experience with the property. It also demonstrates professionalism and competence on the part of the property management company, which not only boosts your brand, but also enhances your ability to attract potential tenants in the future. Finally, it protects the real estate property owner: Clear communication of lease terms, expectations, and maintenance procedures helps reduce the risk of issues such as late payments, property damage, or misunderstandings. But how do you actually optimize the onboarding process? Today we'll look at standardized procedures you should implement to ensure consistency and a positive outcome for all. Note on language: "Tenant onboarding” is an industry term used from time to time. But we here at Second Nature are trying to evolve the word "tenant." We’ve seen the incredible work property managers do day in and day out to make renters feel like they’re so much more than just a tenant – they’re residents. Making renters feel like residents isn’t just philosophical, it also encourages them to invest in care for their home and add value to the property. This is why, at Second Nature, we prefer to call tenants “residents.” Like you, we think of them as people first – making your property their home. 1. Run background checks, collect and verify all tenant information The onboarding process starts with thorough tenant screening and background checks on prospective renters. The process of ensuring the accuracy of tenant information can be time-consuming, so this is where you will realize the greatest efficiencies as you optimize the process. Start by leveraging screening and credit check/credit score service providers to assess a tenant's financial responsibility and ability to meet rent payments, as well as identifying any prior evictions or tenancy issues. Criminal background checks, run in accordance with fair housing laws and anti-discriminatory practices, can uncover potential red flags that may represent risks to the property or other tenants. You should also use standardized application forms that clearly request information such as: full legal name, contact details, and date of birth employment information and income verification (via recent paystubs or employer contact details) previous rental history, including contact details of prior landlords emergency contact information Directly contact previous landlords and employers to confirm details provided by the prospective tenant, and verify the government-issued photo ID (driver's license or passport) they supply to confirm their identity. Consider offering an online application portal where tenants can submit their information and upload documents securely. This allows for faster processing and reduces manual data entry (and therefore reduces the risk of errors). Again, ensure that all screening processes comply with fair housing laws to avoid discrimination based on protected characteristics. 2. Explain the lease and sign the agreement It's critical for all parties that you be transparent and clear about lease terms. To achieve this clarity in a repeatable, standardized way, consider structuring the process as four distinct stages: (i) Pre-signing review Schedule a dedicated time with the tenant to review the lease agreement. In the agreement itself, it's important to use clear, concise, plain language that avoids legal jargon. Explain each clause, addressing key points like rent amount and due date, security deposit details and return policy, allowed usage of the property and any restrictions (such as pets or modifications), maintenance responsibilities of both the tenant and the property manager, and termination clauses/notice periods. (ii) Addressing concerns After the pre-signing review, proactively invite questions and address any areas of confusion or concern. Have supplementary materials and any other necessary information readily at hand, such as property manuals or tenant handbooks. (iii) Lease signing process Consider offering the option of secure e-signatures for a convenient and efficient signing experience, but do ensure readily available hard copies of the lease for traditional in-person signing preferences. (iv) Post-signing follow-up: Present tenants with a signed copy of the lease agreement for their reference. At that point, you should outline the next steps, such as payment details (more on that below) move-in date and procedures, utility setup details, and contact information for maintenance requests or emergencies. 3. Collect payments and security deposits An efficient tenant onboarding process will prioritize secure and convenient methods for tenants to submit their security deposit and rent payments. Naturally, this starts and ends with clear communication. If you have not covered this in the context of the lease agreement, do so now: Clearly outline all available payment methods, as well as rent due dates, late fee structures, and any associated payment processing fees. It's helpful to provide flexible payment methods. Options include secure online portals (whether hosted on your site or by a third-party payment processing provider) that allow tenants to pay using debit cards, credit cards, or e-transfers. This option presents multiple advantages, including automatic recurring rent collection, online receipt for all transactions, and a record of payment history for easy reference. You can also offer the option for direct bank transfers between the tenant's account and the accounts of your property management company. For technology-averse tenants, you may find it necessary to offer traditional payment methods such as cashier's checks or money orders, which provide a secure way for tenants to submit payments without the risk of personal check bounces. When it comes to security deposit handling, compliance is key. You must adhere to all local and state regulations regarding security deposit amounts, holding periods, and interest accrual (if applicable). It's helpful to hold security deposits in a separate account designated solely for this purpose. This demonstrates transparency and protects tenant funds. 4. Share copies of electricity and gas safety certificates While some regulations require property managers to make electricity and gas safety certificates available on request, in certain jurisdictions, the property management company may be legally obliged to provide them during the onboarding process. Always consult with local regulations and ensure compliance to avoid any legal issues. In any case, by proactively providing copies of safety certificates, clearly explaining their purpose, and maintaining proper records, property management companies demonstrate a commitment to tenant safety and uphold a high standard of professionalism. This fosters trust and transparency throughout the tenancy. While the certificates indicate overall the electrical and gas safety of your rental property, as well as any potential hazards, emphasize the tenant's responsibility to report any observed issues or concerns promptly. 5. Schedule move-in To efficiently schedule the move-in, inquire about the tenant's preferred move-in date and time frame during the lease agreement signing process. If you're offering a few available move-in windows, strive to accommodate their preferred date and time, as this demonstrates your commitment to tenant satisfaction. If the tenant's preferred date is unavailable, propose options that minimize disruption, such as an earlier or later move-in time within the same day. Once a mutually agreeable move-in date and time are established, send a confirmation email or document outlining the details as well as a move-in checklist. Note that Second Nature includes a move-in concierge as part of its Resident Benefit Program. 6. Prepare the property for move-in day The onboarding process culminates in a meticulously prepared property for the tenant's arrival. Start by conducting a pre-move-in inspection and cleaning. This covers the entire property, including: Floors, windows, and all surfaces. Appliances Bathrooms and kitchens Ensure that all smoke and carbon monoxide detectors are operational, and have fresh batteries. Also, address any outstanding maintenance or repair requests, and verify that all applicable utilities are functioning properly. You'll want to take any meter readings in the presence of the tenant during the move-in process. Consider providing small "welcome amenities'' (toilet paper, tissues, light bulbs, and so on), as well as a welcome packet that includes contact details, important property information, trash collection schedules), and emergency procedures. Such gestures foster a sense that the property is being managed with care. 7. Deliver keys and share property manager contact information While the process of delivering keys and sharing contact information may seem trivial, it's an excellent occasion for once again demonstrating your professionalism and care for the property. First, coordinate a convenient time for the tenant to pick up their keys. This can occur during a move-in walkthrough or previously. Consider offering flexible options for key collection, such as collection of keys from the property management office, or secure drop-off at the property, if this is feasible. Maintain a record of the specific keys issued to the tenant. If the property utilizes key fobs or electronic access systems, ensure the tenant receives proper instructions and activation procedures. As far as contact information goes, provide the tenant with various contact methods, including any dedicated phone lines for tenant inquiries and maintenance requests, email addresses for non-urgent communication, and access to an online tenant portal (if applicable) for rent payments, maintenance requests, and communication. If you have not already done so, outline your operating hours and response timeframe for inquiries and maintenance requests. Provide a separate after-hours emergency contact number for urgent situations. 8. Leave a welcome message, card, or gift pack for the tenant While not essential, incorporating a personalized touch during the onboarding process can significantly enhance the tenant's experience. For instance, a brief handwritten note left at the property upon move-in adds a personal touch, as does a warm welcome email. Such a message can express that the tenant has chosen your property, offer availability to answer questions, and reiterate important contact details for the tenant's reference. Professional greeting cards with similar messages are also an effective way of enhancing your brand, particularly when co-branded with local restaurants and grocery stores to offer discounts or coupons. Another option consists of gift packs containing small, practical items such as basic toiletries, coffee/tea/baked goods, or cleaning supplies. Ensure that any message, card, or gift reflects a professional tone and avoids overly personal greetings. 9. Follow up after one week with the onboarded tenant to get feedback An optimal onboarding process extends beyond the initial move-in. Following up with the resident after a week demonstrates your company's attentiveness and professionalism, and goes a long way toward boosting retention rates. Schedule a follow-up call or email approximately one week after the tenant has settled in (at which point they will have become well acquainted with the property). A call allows for a more personal touch and enables the tenant to voice any concerns directly, while an email gives them the flexibility to respond at their convenience, as well as providing a written record of the communication. Sample wording might go along the lines of: "I hope you're settling in well at [property address/name]. Is there anything we can help you with?" or "We hope everything is going smoothly after your move-in last week. Do you have any questions or concerns we can address?" Remind the tenant of the various contact methods available for the property management company, and address any raised concerns promptly to demonstrate your willingness to assist in resolving issues. You may also wish to consider incorporating a brief tenant satisfaction survey into the follow-up e-mail, if you've chosen this approach. This can provide valuable insights into areas where the onboarding process can be further improved. 10. Schedule periodic rental inspections with the tenant A crucial aspect of responsible property management involves conducting periodic inspections. Here's a professional approach to scheduling these inspections while fostering a positive relationship with the resident. Clear communication is paramount. It's important that you outline the frequency and purpose of inspections within the lease agreement, and explain the rationale behind inspections, emphasizing property maintenance and ensuring tenant safety. Of course, you'll reserve the right to conduct immediate inspections in case of emergencies or suspected violations of the lease agreement. However, prioritize informing the tenant whenever possible, and always adhere to local and state regulations regarding the frequency and notification requirements for rental inspections. Before scheduling an inspection, provide ample written notice. This allows residents to prepare the property and minimizes disruption. As necessary, work with the tenant to find a mutually agreeable date and time for the inspection. Allow the tenant to be present during the inspection, and limit the inspection to the essential aspects, avoiding intrusion into personal belongings (download our rental inspection checklist to ensure you’re covering all the bases). Then, provide the tenant with a copy of the inspection report, highlighting any findings or maintenance needs. Final thoughts Remember, an onboarding process is not just a series of steps; it's a tool to enhance communication, establish expectations, and create a positive resident experience. Our top recommendation for ensuring a world-class resident experience is to build a resident benefits program. Second Nature has pioneered the only fully managed Resident Benefits Package for single-family property managers. Learn more about resident experience management in our State of Resident Experience Report, or explore the benefits of a Resident Benefits Package.

Calendar icon March 20, 2024

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7 Best Property Management Newsletters

Property managers fill many roles and hold many responsibilities. That’s why it can be helpful for them to subscribe to leading industry newsletters and publications. These publications deliver strategic time-savings by providing focused, often actionable updates on market news such as real estate market fluctuations, investment property trends, and resident demographics. They can also keep you informed about updates to legal considerations related to rental properties, so you have a longer runway to adapt to any changing requirements. Finally, they’re an ideal way of keeping tabs on the latest in best practices and tech advancements, so your operational toolbox always has the best tools available, for what can often be a challenging role. In this post, we’ll survey some of the top newsletters in the industry, and provide quick takeaways about what makes each worth the read. 1. Second Nature's Triple Win Newsletter Our very own bi-weekly newsletter is a fun and informative digest of all things property management, with a focus on our "Triple Win" approach, which favors conditions that benefit residents, property management companies, and owners alike. We make it engaging and helpful, with sample content including articles such as "Improving Delegation with the 'Who' Not 'How' Approach," "Property Management Horror Stories," and "How to Install and Manage Processes in Property Management," plus interviews with industry veterans, our take on the best of social media, and the occasional PM-focused meme. Subscribe here 2. Peter Lohmann's Newsletter Peter Lohmann is the CEO & principal broker of RL Property Management, a residential property management company located in Columbus (Ohio). His weekly newsletter has 5,000 subscribers, and according to a recent social media posting on Twitter/X, focuses on “sharing everything that works as we grow our property management business.” A testimonial from one newsletter subscriber describes the content as “honest, objective, and eye-opening,” and this does appear to be the brand of the email newsletter, as it is written in a personable, conversational tone that covers a wide range of meaningful content and marketing strategies, ranging from how daunting it can be to hire a new COO, to extended discussions around client churn (using data from his own company), as well as spotlights on conferences, local events, and new technology. Subscribe here 3. PlanOmatic Monthly Beaker PlanOmatic provides photos, floor plans, and 3D tours for single-family rental property owners and property managers. Their monthly newsletter, The Monthly Beaker, bills itself as “everything you need to know about SFR, once a month, in one place.” Although it is still a fairly “young” publication at just over a year old, it has already garnered over 750 LinkedIn subscribers to go along with their email list. It’s easy to see why – the format makes it a lot of fun to read, with an introductory editorial segment delivered in a conversational tone that nevertheless provides a significant quantity of information. This is typically followed by a series of quick hits consisting of proprietary insights into the SFR space, important data from around the sector, and final bullets providing key takeaways (“Everyone knows this stuff and you should too”) from the property management industry. Subscribe here 4. National Rental Home Council As the non-profit trade association of the single-family rental home industry, the National Rental Home Council (NRHC) publishes a wealth of resources for its different target audiences. NRHC’s intent is to support legislative and regulatory frameworks that incentivize housing providers to augment and enhance accessibility to a range of fair housing options for both homeowners and renters. This means its resources are designed to be of interest to a variety of different stakeholders within the rental market. Members receive a weekly Briefing Report on the single family rental home industry, the Quarterly NRHC Newsletter, and a Weekly Newsletter featuring national coverage and news alerts. For non-members, the NRHC issues regular news releases, as well as resources including FAQs, reports and primers, fact sheets, and videos. With archives dating back to 2015, this site is a valuable and well-established industry resource. Visit the website 5. The Evernest Newsletter Evernest’s focus is on single-family houses, condos, small multi-family buildings, and HOA management. It manages over 15,000 properties for over 6,000 owners, and its HOA and Association division serves over 17,000 homeowners. As for the Evernest Newsletter, its email list consists of over 18K landlords and real estate industry investors, all signed up to receive educational content for DIY landlords and real estate investors. This real estate newsletter also publishes content related to new podcast episodes from the Evernest team, articles and videos, and community content as well as information about upcoming events. Subscribe here 6. Jordan Muela’s Newsletter Jordan Muela has been in the property management industry for over 10 years, and is currently CEO of LeadSimple and co-founder of ProfitCoach. He started his now bi-weekly newsletter in 2021, which counts 4k property manager subscribers, and focuses on “people, process, and profit,” as he puts it. With catchy headlines and informative content, it’s worth browsing his page of posts to get a sense of his coverage. Sample headers include “Why what triggers you is a gift,” “There's a simple test to understand how aggressive your fees are,” “It's ok to want to quit,” and “2023 National PM Pricing Report”: suffice it to say that it’s all highly varied and readable stuff. Subscribe here 7. Marc Cunningham In addition to running the PM Build website, Marc Cunningham is the President of Grace Property Management & Real Estate. He's regularly featured in national real estate publications and podcasts, holds multiple designations, invests in residential and commercial real estate, and was named the 2018 national property manager of the year by Think Realty. At PM Build, Marc publishes a monthly video newsletter that addresses current topics and trends in the real estate property management space. With accessible topics such as “How To Deliver Bad News To Owner-Clients, “Top Tip To Be Successful In The Property Management Business," and “6 Numbers To Measure The Success Of Your PM Business,” his content is of immense value for new and seasoned property management companies alike. Watch episodes here Hungry for more news? Visit Second Nature’s Triple Win Property Management Blog

Calendar icon March 15, 2024

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