In this series, Respage CEO Ellen Thompson discusses the latest trends in the multifamily industry and how apartment communities can generate greater results.
The unprecedented growth of innovation within the multifamily industry has made staying ahead of the curve not just about adopting the latest technology solutions—but also choosing the right supplier partner for the long term.
What happens if you get stuck in long-term contracts with a partner that can’t keep up with the rapidly changing proptech landscape or isn’t committed to the multifamily industry? You’re setting yourself up for a serious case of FOMO—making it all the more important to invest in a solutions partner who’s all in with the industry and has the vision and resources to keep innovating.
In this blog we will discuss what to look for when selecting technology partners, and the importance of maintaining a strong supplier relationship to secure long-term success for everyone.
Beyond today’s technology: Invest in partners who listen
If you are looking for a new technology partner, you’re looking to solve a pain point you’re experiencing today. At a minimum, the right partner will intimately understand the multifamily industry and can articulate a roadmap that shows how they will be evolving this year. Ideally, you will choose a partner who listens to its customers and integrates your ideas into future product decisions.
And that starts with building a relationship. Working with account managers and product experts throughout the lifecycle of your contract is crucial for shared success. Today’s tech also has a lot of configuration options. With the help of account managers getting to know your workflows and preferences, you can ensure your technology is optimized to suit your community needs.
It’s also important to acknowledge that many times within large organizations, those who sign supplier contracts are not the ones using the product each day. So it is vital for site-level users to work with the technology supplier to learn and understand the resources and configurations available. This helps improve buy in at the site level and improves product effectiveness.
Consider becoming an early adopter
When signing an agreement with a trusted and innovative technology provider, you are inking an ongoing commitment to future-proofing your leasing, marketing, and operations—with the opportunity to become an early adopter in the industry and take advantage of lower pricing.
By forging a strong partnership with a solutions provider early on, you ensure you have priority access to the latest features and technology as soon as it becomes available (and often even before they hit the market).
If you have the opportunity to become a BETA partner, your team will be able to actively contribute to shaping the technology product to meet your operational needs. This involvement not only helps properties mold the product to better fit their processes but also helps developers understand how you run your business.
Providing user feedback is a tremendous help to technology partners who are analyzing trends in an attempt to predict where the market is going in the future. For example, early adopters of centralized leasing were able to help technology partners blueprint what centralization meant for the multifamily industry, which resulted in innovations such as shared tour scheduling calendars.
Choose partners with quality integrations & more than one point solution
An effective solutions partner doesn’t just provide a standalone product but ensures that it integrates as seamlessly as possible with the platform you are already using. Only suppliers who provide more than one product can use data from one platform to trigger features in another product, and can share data across multiple prospect and resident touchpoints. For example, only products that can access data from across all of your client interactions solutions have the data needed to power AI-driven reporting features like predictive analytics that use real time data to predict individual resident renewals.
Integrated solutions allow for cost savings and open the door for more actionable insights needed to make better decisions. And as AI continues to improve, you want to future-proof your technology by finding a reliable, AI-first partner to guide the way.
Investing in a solutions partner is a strategic move
By choosing a partner that aligns with your vision, focuses only on the multifamily industry, understands the unique needs of your communities, and prioritizes innovation, you’re not just acquiring a product—you’re securing a long-term relationship built on trust, collaboration, and mutual success.
As the multifamily landscape continues to evolve and venture funding is becoming less certain, investing in a forward-thinking solutions partner who will be here in the long run has become more critical than ever. It’s not just about staying ahead of the curve; it’s about shaping the future of how you operate and positioning your business to maximize the value of your assets.
From the desk of Ellen Thompson, Co-founder and CEO of Respage >> Since its founding, Respage has helped over 10,000 communities attract, engage, and retain residents. Its platform assists properties in generating leads, automating leasing, and managing reputation and social media. Thompson is also the Founder of Results Repeat, a digital marketing agency that has helped hundreds of companies create a digital presence and use SEO and paid marketing to generate more business online.
