Breaking Property News – 16/04/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
VTS Activate Multifamily launches
Press Release – LONDON – April 16, 2024 – VTS, the industry’s only technology platform that unifies owners, operators, brokers, and their customers across the real estate ecosystem, today announced that it has launched a revolutionary new resident experience technology offering, VTS Activate Multifamily. The announcement builds upon the proptech leader’s momentum with the launch in May 2023 of VTS Activate – the industry’s leading tenant experience solution for commercial real estate, and comes after the 2021 acquisition of Rise Buildings – an established name in the multifamily resident technology space. VTS Activate Multifamily marks a pivotal moment in VTS’ corporate journey, as the proptech leader, known mainly for its innovation in commercial real estate, makes a significant investment in the multifamily space through this new resident experience technology offering.
This momentum for VTS in the multifamily space is solidified with the news that major residential industry players Lendlease, Habitat, and Stonehenge have all selected and deployed VTS Activate as their resident experience solution of choice for properties across their portfolio, resulting in a 400% growth rate for the multifamily platform. To date, VTS Activate Multifamily has a user base of over 250K residents, across 500+ buildings globally, making VTS Activate the largest resident and tenant experience platform in the world.
VTS Activate Multifamily provides owners and operators with a new solution to fully integrate and elevate their on-site experience in multifamily properties – increasing resident satisfaction and equipping teams to best serve them. With in-app resident and property insights, multifamily teams understand what resonates with residents and take action to strengthen their communities, increase efficiency, and secure renewals to generate and protect revenue.
It was created as a singular ecosystem to connect property teams and residents to each other and the building, and facilitates tasks such as opening doors, work orders, registering guests, managing packages, rent payments, amenity reservations, communications, and more. In-app communications give residents a direct connection to their community, which can notify residents about things such as events, promotions from nearby retailers, property updates, and more at their fingertips. For a single building or across a portfolio, VTS Activate Multifamily has the unique ability to scale and grow alongside owners and operators of apartment and condo communities, single-family rentals, student housing, and senior living.
“Multifamily owners, operators, and property teams face unique challenges in how to best serve residents with a best-in-class experience. With the launch of VTS Activate Multifamily, VTS is thrilled to equip customers with a single resident-centric solution that manages the day-to-day needs of a resident,” said Nick Romito, CEO of VTS. “Innovative residential companies recognize the importance in providing their staff and residents with a seamless property experience, while also benefiting from deepened relationships, and unparalleled insights to help teams understand their residents, how they’re using space, and the value they get from it – generating more revenue through renewals and lower vacancy rates.”
With built-in operations features and sophisticated tools to deliver the right communications, content, and experiences to the right audience, VTS Activate Multifamily delivers a seamless and personal end-to-end experience at scale, driving engagement and increasing property satisfaction. Through insights that measure sentiment health and activity, multifamily operators and property teams can best anticipate needs of residents, navigate renewals, and deliver value through a tech-enabled experience, meeting the demand of residents in today’s multifamily market.
“Technology such as VTS Activate Multifamily creates a strategic vehicle for our teams to manage buildings, resident relationships and engagement, while generating essential insights for us to manage operations and execute our strategy. With curated and branded experiences for our tenants, they recognize that they’re our priority,” said Warren Loy – Director of Asset Management, Lendlease. “Our portfolio branded Resident Experience app powered by VTS Activate allows us to streamline workflows across our portfolio to ensure our company’s actions are as efficient and data driven as possible, best positioning us for renewals.”
Beyond insights, access control, and operations management, VTS Activate Multifamily delivers sophisticated marketing capabilities that allows property management to create highly configurable, branded programming across their spaces and resident network to curate a sense of community. With events, perks, content, communications, and more, the experiences and offerings delivered to residents increase engagement and revenue.
“The right data and insights, as well as technology to facilitate the daily journey of residents through a property, are now essential for multifamily companies to maintain a competitive edge and continually attract and retain residents,” said Sam Clifford, Multifamily Lead at VTS. “The demands of residents have changed, as well as how they interact with their communities, and VTS Activate Multifamily provides multifamily companies with the best digital infrastructure to accommodate today’s residents while connecting property teams and residents like never before. VTS Activate Multifamily ensures the utmost satisfaction of residents, while also giving its property management and investment teams the right technology to do their jobs as efficiently as possible.”
Unlocking the benefits of Guild Membership
Director of Property People Estate and Letting Agents in Northern Ireland, Colin Moran recently had the privilege of hosting an engaging interview with Iain McKenzie, the CEO of The Guild of Property Professionals. This interview provided valuable insights into The Guild and the benefits of being a Member of the network.
Moran began by asking McKenzie to introduce The Guild of Property Professionals. McKenzie explained that The Guild is a network comprising best-in-class independent estate agents across the UK, including England, Scotland, Northern Ireland, and Wales. With over 30 years of existence, The Guild carefully selects its Members, ensuring that they represent the kitemark of trust, integrity, and results.
He notes that Members of The Guild receive a wide range of tools and services that provide a commercial advantage to both sellers and landlords. “This association places strong emphasis on upholding ethics and professionalism through a shared code of conduct. The Guild’s logo serves as a symbol of quality, and the importance of compliance and the delivery of exceptional results,” adds McKenzie.
Moran went on to inquire about the benefits of becoming a Member of The Guild. In reply, McKenzie says, “Being a Guild Member means having access to exclusive tools and services, including a referral system. This system enables Members to connect with potential buyers from other parts of the UK, a valuable advantage in a market where relocation is on the rise.”
He adds that The Guild also equips its Members with digital marketing tools and services, such as digital magazines, to enhance their communication with clients and expand their property reach. It’s not just about being part of a network; it’s about enhancing the customer experience and ensuring they get the best results.
The conversation turned to the significance of choosing a Guild member for the home buying public, landlords, and tenants. Moran emphasised that, with little regulation in the estate and letting agency business, it’s crucial to opt for Guild Members known for their professionalism and adherence to high standards. McKenzie concurred, mentioning that The Guild has been recognised as the best estate agency network in the UK for three consecutive years based on customer reviews.
The Guild’s code of conduct requires that Members behave ethically and professionally, and they undergo training programs that have received approval from authorities. McKenzie also shared that The Guild has been called upon by major institutions to provide expert insights on the market, further cementing its position as a leading body in the industry.
Shifting their focus to the Northern Ireland property market, Moran and McKenzie discussed its resilience and ability to withstand market pressures. They attributed this resilience to factors such as limited supply and demand, competitive pricing, consumer confidence, and an active market, particularly for properties priced under £200,000.
McKenzie acknowledged that Northern Ireland is gaining attention as a desirable place to live, given its beautiful surroundings and recent lifestyle changes due to the COVID-19 pandemic. He added that Northern Ireland has held up better than other parts of the UK, highlighting the area’s attractiveness to property buyers and investors.
Providing insights into the Northern Ireland property market’s performance, Moran emphasised the impact of supply and demand and the region’s value-for-money proposition. He discussed how consumer confidence has stabilised despite interest rate fluctuations and mortgage rate increases.
As the conversation continued, Moran asked about The Guild’s future growth and impact in Northern Ireland. McKenzie expressed confidence in increasing public awareness and recognition of The Guild, strengthening the network, and further digitising services. He highlighted plans for national road shows and preparedness for potential regulatory changes, positioning Guild members as leaders in the industry.
Moran concluded the interview by highlighting the significance of choosing a professional and reputable agent for one’s property needs and the value that The Guild membership brings to customers. He encouraged prospective sellers and buyers to look beyond price and focus on the quality and value of the service provided.
The interview shed light on the exceptional standards and benefits associated with being a Guild member and the organisation’s commitment to professionalism and customer service. Property People Estate and Letting Agents, as a proud Guild member, continues to prioritise the highest standards of service and integrity in the industry.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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