Executive Summary
A leading third-party multifamily property manager faced significant operational challenges in their Florida and California portfolios. These included complex property management tasks, tech overload for staff, and ineffective resident engagement. Fragmented systems led to inefficiencies, while outdated communication tools hindered resident satisfaction.
To address these issues, the client implemented Livly's centralized platform, customized to meet specific needs.
This solution included features such as amenity booking, reputation management, move-in inspection checklists, guest management, and enhanced messaging.
The results for 2024 Q2 were transformative:
Tech Adoption: The download rate increased to 80%, significantly above the 40-50% industry benchmark.
Operational Efficiency: Automated 11,000 onsite team tasks.
Portfolio Engagement: Engagement rates increased to 72%, significantly above the industry benchmark of 30%.
Resident Satisfaction: Enhanced communication and service delivery led to higher resident satisfaction and retention rates.
Overall, Livly's platform enabled the client to achieve substantial efficiency gains, improve staff and resident satisfaction, and set a new standard for multifamily property management.
Company Overview:
The client is an exclusive, privately owned third-party multifamily property management company. It manages both market-rate and affordable housing for a diverse range of clients, including institutional investors, international real estate firms, and government agencies throughout the United States.
Their challenging portfolio included 22 properties, comprising a total of 3,135 apartments.
The Challenge
Managing multifamily properties involves time-consuming tasks that can overwhelm staff, leading to mistakes and detracting from resident service. Effective resident engagement is also challenging with outdated communication tools, impacting both employee and resident tech adoption.
Comprehensive Solution of Livly
Implementation Process
Livly Core was implemented across the client’s properties, with additional features customized to meet specific needs.
The implementation process involved several key steps:
After onboarding, our team established ongoing support to address any issues and optimize platform use.
Customized Features
Amenity Booking: Simplifies scheduling and managing property amenities.
Reputation Management: Allows residents to share positive experiences and potential residents to view reviews.
Inspection Checklist: Digital tool for new residents to inspect and document issues during move-in.
Guest Management: Streamlined guest check-in process.
Enhanced Messaging: Enhanced communication between residents and management.
Impact Metrics
Portfolio Information
The Impact
The client’s partnership with Livly transformed its multifamily property management approach. Livly's centralized platform significantly improved operational efficiency and enhanced resident satisfaction and retention.
Conclusion
The client’s partnership with Livly transformed its multifamily property management approach. Livly's centralized platform significantly improved operational efficiency and enhanced resident satisfaction and retention.
Key Takeaways
Centralized Management: Streamlined operations and reduced manual tasks.
Improved Communication: Consistent and reliable channels for resident interactions.
Enhanced Resident Experience: Increased engagement and satisfaction.
Recommendations
Continuous Training: Ensure ongoing staff training to maintain efficiency and adoption.
Feedback Loops: Regularly collect feedback from staff and residents to improve performance.
Scalability: Explore opportunities to scale Livly’s platform across more properties.
Ready to transform your property management approach? Discover the possibilities with Livly and schedule a demo today.
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