The Rise of Centralized Leasing

Dec 27, 2022 | Leo Library

In Season 3, Episode 2 of the Apartment Academy Podcast – we welcomed Kristi Fickert, VP of Enterprise Growth at Realync as we continue our conversations from Apartment Academy LIVE recorded at Apartmentalize 2022. Kristi joins us to discuss the buzzing topic of centralized leasing and how companies are using this approach to their advantage!

Tell us a little about Realnyc before we get started. [0:29]

  • Realnyc is a single platform for video engagement in multi-family. 
  • Used by on-site professionals to produce content that converts and engages their renters and turns into leases.
  • It integrates with most of the industry CRMs and other systems that you would want it to so you can track your activity.

Why has this technology become such a priority in recent years? [1:02]

  • Today’s renter expects video. As part of the early leasing process, people like the convenience of connecting over video.
  • We’ve seen about 52 percent of people say that they don’t even need to come out to physically see the unit right now.

What are you expecting to see or hear about at the show this week? [2:26]

  • Centralized leasing looks a little different for every company. We’re not taking away the human element that the industry was built upon, but there are ways to help people be better at what they’re really good at doing. 
  • Property managers are working remotely. Prospects are taking self-guided tours or they’re touring virtually. Instead of having four different leasing offices for four different properties, the on-site team can now manage multiple properties from one office. You need fewer people to manage the operations.
  • It allows leasing teams and managers to do what they do best. They can focus on the renter because we’re alleviating all of these other pain points.

How large of an operator do you need to be in order to take advantage of centralized leasing? [6:34]

  • Initially saw centralized leasing in smaller operators. Smaller teams and a less sophisticated technology stack make it easier for them to implement.
  • Every operator is different. What works for one, may not work exactly the same for another.

Is there a technology stack operators need to have in place to facilitate centralization? [7:35]

  • Multifamily marketing has typically focused on top-of-the-funnel prospects. We have more renters than we ever have had before. It’s time to start focusing some of our efforts on those middle and bottom-of-the-funnel prospects.
  • Rents have increased by about 20 percent in recent years. With that comes greater expectations from existing renters. They are going to want to see the value they get from having to pay higher rents.
  • With market conditions being what they are, invest in technology that drives resident engagement.

About our Guest

Kristi Fickert is the Vice President of Enterprise Growth at Realync. In addition to her role at Realync, she is a Board Member of the Community Improvement Corporation of Wilmington Ohio, a not-for-profit community development organization that facilitates industrial and commercial investment to promote economic development and job creation.

Connect with her on LinkedIn here.