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State of Multifamily Automation Owner/Operators vs 3rd Party Managers

Why a Multifamily Automation Survey?
We were curious about the state of automation in the multifamily industry. So, we secret shopped 50+ properties to conduct a multifamily automation survey.

Specifically, we wanted to understand how each property was nurturing leads to visit their property:
Property Survey Metrics
This post introduces the methodology and the first metric. We'll cover the rest of the metrics in a 5-part series.

We Surveyed 56 Properties in 2 Groups
In March and April, we chose 56 properties from 28 property management companies and organized them in two groups based off the following criteria:
Group Classifications
For more details on our methodology see our post: "Multifamily Automation Survey Methodology"

Round #1: Was the Property Responsive?
The first round covers the responsiveness of properties.

A responsive property responded within 48 hours of a contact form submission. The contact could have been an email or a phone call, but not an auto-responder.

This first round is a "no-contest." Only 2.8% of the owner/operator properties were non-responsive. On the other hand, a whopping 45.8% of third-party managed properties were non-responsive.
Property Responsiveness
It was shocking to see low response rates from many of the third-party managers. Especially since all the surveyed properties were aggressively marketed.

Conclusion
We could interpret the above results in only one way.
Aggressively marketed properties
The contrast in results must be because of differences in internal processes. Specifically, 
  • Owner/operators have set up automated processes and systems to respond consistently to prospects
  • A large set of 3rd party managers have not yet set up any system to respond consistently to prospects
The first round clearly went to the owner/operators. Will the 3rd party managers do better in the other rounds?
Want your properties secret-shopped?
Would you like us to secret shop your property?
Let us know and we will secret-shop your property.

And, then, compare your property with our benchmarks for owner/operators or 3rd party managers.
Secret-Shop my Property!
About Multifamily Minute
Multifamily Minute is a series of snack-able technology explainers written for multifamily executives. 

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Warm Regards,

Munish Gandhi
Founder & CEO, Hy.ly
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Subject: State of Multifamily Automation: Owner/Operators vs. 3rd-Party Managers