Open Ecosystem Integrations Are Better for Renters, Property Management Companies, and the Multifamily Industry Alike
A guest post by Funnel Leasing on why a commitment to meaningful integrations to drive excellent experience for operators, teams, and renters is essential to the future of multifamily.
Gone are the days of walled garden multifamily tech. They weren’t great (for anyone) while they lasted, so we are admittedly zero percent sad to see them go.
Keep reading to learn three reasons open platform architecture is better for operators, renters, and the multifamily industry.
Why open platforms are better for property management companies
We’ll say it: An elbows-out approach toward partnership, and integrations, stifles innovation for the multifamily industry. Renters and property management companies paid the cost.
Renters experienced stressful apartment shopping experiences because they had no choice in the matter. Property management companies (at no fault of their own), were forced to run their business how their tech constrained them to, instead of how they actually wanted to. Lose-lose.
Each property management company, its portfolio, and its markets have different needs and end goals. To be clear, as a tech company, we know our lane: we aren’t here to tell leasing teams how to do their job, teach you the latest TikTok trend and how it’ll change your marketing forever. We do know there is no silver bullet for property management companies. They are large, complex businesses that should be free to choose the right combination of tech partners that they think will allow them to reach their goals best.
Integrations, and a commitment to open platform architecture, ensures that tech companies shared property management company clients continue to have the best of both worlds and select the tech vendors that work best for them across their variety of needs.
Why open platforms are better for renters
Repeat after us:
Nothing is more important than the renter.
Nothing is more important than the renter.
Nothing is more important than the renter.
NOTHING. IS. MORE. IMPORTANT. THAN. THE. RENTER.
We feel passionate about this and for this reason, at Funnel, we architected our entire software around a single record of truth called a guest card. Meaning, that for each renter across the entire portfolio, there is one guest card. Not single guest cards at each property. Not daisy-chained together guest cards. Single guest card. Full stop.
While being customer-centric, or as well call it renter-centric, is in vogue NOW, for years it wasn’t. We know because the proof lingers in the renter’s apartment shopping journey: for decades, renters were stuck navigating a frustrating customer journey that didn’t align with modern buying patterns,
When tech vendors weren’t fully committed to working together for their shared clients, the customer journey was often clunky and disconnected. Instead of tech systems working in tandem to create the best customer experience possible for renters. They created separate systems that either didn’t work well together or didn’t work at ALL together. Key pieces of data were either duplicated, siloed, or lost altogether.
It doesn’t have to be this way.
When companies build integrations and value open platform architecture, shared clients and renters win. Renters have a seamless apartment shopping experience, not only do their questions not fall through the cracks, but their data doesn’t either. From inquiry through renewals, tech can create a seamless connected experience for the renter. AI and automation are leveraged to follow-up, answer questions, and hand off high-intent conversations to leasing teams to take to the next level. All renter preferences are parsed from communication and recorded within the renter’s guest card. In other words: tech works alongside onsite teams to create an excellent experience for renters.
Why open ecosystem integrations are better for the multifamily industry
We believe a rising tide raises all ships.
If tech vendors commit to building open platforms, and in turn, open ecosystem integrations, then not only will tech development continue to push forward quickly. But by extension, the multifamily industry will too.
Multifamily is a small close-knit industry. At Funnel, being anything other than good partners who believe in the power of technology to drive an excellent experience — for property management companies, their teams, their renters — is off-brand.
Team up to show up for shared clients
Funnel’s Renter Management Software streamlines leasing for renters, leading property owners, and managers, this integration with PERQ is an extension of that mission.
To learn more about our partnership with PERQ, read our recent press release.