Leaselytics brings apartment leasing into the 21st century
One of the challenges of apartment leasing is that multifamily chains often use extremely outdated rent roll systems and independent apartment management companies struggle to use technology at all. While there are shining examples of modernity, they are extremely rare, and the attitude nationally tends to be that not only is the current system “okay,” it is too big of a challenge to teach staff a new system and transfer data from point A to point B.
Beyond that, there are holes in the technologies even offered, one of which is apartment leasing agent performance analytics. Until now. Leaselytics has launched as a software as a service (Saas) company to fill in the gap by offering performance data with modern tools and a streamlined interface that a toddler could understand (read: your staff won’t struggle to understand it).
Rob Whitley, Founder and CEO of Leaselytics tells AGBeat, “Imagine a baseball manager trying to create the best line-up of players without knowing their performance stats. It would be impossible. They’d lose every game. This is the same problem that apartment management companies have with their leasing agents.”
A $350B industry running on dinosaur-era technologies
Whitley notes that the apartment industry is a 350 Billion per year industry, with 44 Million rentals in the U.S. Leaselytics allows apartment management companies to tie performance data of leasing agents to financial performance of the portfolio. Companies can track leasing agent performance through intuitive visualizations and optimize how leasing agents are used, resulting in reduced attrition, higher occupancy rates – driving higher profits.
“We have a couple proprietary elements including: a score metric for leasing agents, and a feature called Placement Optimization which allows companies to have right leasing agents, in the right place, at the right time,” Whitley concludes.
This is a tool that could be so dramatically helpful to multifamily brands, that as it becomes mainstream, it will become quickly evident which brands have put themselves at a disadvantage by not adopting it.