Leasing Manager

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Overview

What is Leasing Manager from CoreLogic?
What is online leasing?
Benefits of online leasing
Resident survey data

Leasing Manager from CoreLogic is a cloud-based, online leasing workflow solution for single and multifamily housing property operators.

Prospective residents applying for an apartment home, leasing professionals and property managers will benefit from greater efficiencies offered by the fully integrated digital workflow. In addition to proprietary statistical lease screening, the platform offers property operators full integration and configuration of lease forms for ancillary services including transfer of utilities, covered parking, storage units or washer/dryer rentals. For properties that require renters insurance as a condition of the lease, the workflow can include access to affordable liability and contents coverage.

 

Applicants can:

  1. Explore inventory - Search apartment availability and pricing.
  2. Decide on an apartment home - Select and apply.
  3. Make payments - Submit payment of fees and deposits.
  4. Get screened - Provide information necessary to complete background screening and get results, generally within minutes.
  5. Submit required documents -  Review and acknowledge community rules and policies and upload required documents.
  6. Select options and comply with insurance requirements - Choose rentable items and meet renters insurance requirements that satisfy lease conditions.
  7. Complete lease online - Documents can be prepared electronically; using e-signature is an additional convenience.

 

Leasing agents and property managers can:

  1. Extensive configuration - Without support from IT, property managers can easily activate the functionality in Leasing Manager that is specific to their needs. For instance, some may use the end-to-end turnkey option such as "shop and apply" and "screening" through to "e-signature." Others may only use the service through background screening. Others may want to incorporate a different payment processor.
  2. Complete visibility through real-time summary and detail dashboards. These give at-a-glance visibility to the leasing professional on the status of all applicants for a community. With a simple click, the leasing professional can drill-down to view detail-level reports on the progress of specific applicants.
  3. Access best-in-breed applicant screening, renters insurance as required by the community, and forms. These work together to accelerate the process for the applicant completing a lease, and help reduce the leasing professional's involvement along the way.

 

Online leasing allows prospective applicants to search and apply for an apartment home within your community - 24x7. Applicants expect an online leasing application solution to work regardless of their chosen device (computer, tablet, or smartphone). 

For the community, online leasing dashboards enable the leasing team to see where applicants are in the leasing cycle. This lets them close leases faster by being able to quickly identify which applicants might be stuck in the process.

 

 

 

Leasing Manager VideoAs compared to "offline" applications, the "online" approach creates efficiencies at every step. The applicant enjoys a smoother process. The leasing professional enjoys a more efficient process. In total, leases can close faster. 

Advantages of online leasing:

  1. Applicant convenience - Applicants can search and apply for an apartment home 24x7 and even complete the lease online.
  2. Leasing professional productivity - By outsourcing data entry to the applicant and collecting fees and deposits online, leasing professionals avoid administrative work and don't waste time playing phone tag with applicants to collect payments.
  3. Owner revenues and agent commissions - Since leasing teams have more free time to up-sell rentable items, they can hit quotas and bonuses; property owners enjoy higher rental income.
  4. Converting applicants to residents - With properly designed workflows in the online leasing solution, prospective residents will complete the application online and commit to the community earlier in the process.
  5. Security - Compared to paper applications that may get left out on a desk in the leasing office, an applicant using an online leasing solution reduces that risk.
  6. Screening notifications - Applicants and leasing professionals are quickly notified of screening results - increasing the likelihood of applicants committing to the community rather than exploring alternatives.
  7. Insurance - By communicating the renters insurance requirements for the community, the chance of compliance for participation increases. 

 

 

According to the 2013 NMHC/Kingsley Associates Apartment Resident Preferences Survey, 90% of prospective residents prefer to apply for their lease online. Other data:

 

Leasing Manager Infographic Image

To purchase the full survey from NMHC, click here.

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For Executives

Leasing Manager - Improving Net Operating Income
Leasing Manager - Improving efficiencies
Choosing an online leasing solution

Leasing Manager VideoBUSINESS IMPACT + WORKFLOW + RESIDENT RISK MANAGEMENT + POINT SOLUTIONS

 

 

  1. Larger pool of rental candidates - By limiting the amount of information prospective applicants must share prior to screening, more applicants using Leasing Manager from CoreLogic continue to screening.
  2. Earlier commitment to the community - Application fees and deposits are collected earlier in the process; applicants are financially committed to the property sooner.
  3. Revenue gains from up-selling - Agents have more time to generate rental sales from add-ons such as storage units, parking spaces and washer/dryers. Revenues increase for the community. Commissions increase for the agents.
  4. Managing risk - When the community generates reminders to applicants about the need to purchase renters insurance and offers access to licensed insurance agents as part of the online leasing process, costs associated with renter-caused damage decline.

 

Leasing Manager Video

  1. Increasing productivity of leasing agents  - With data entry effectively outsourced to applicants, leasing agents are freed from mindless administrative re-keying tasks. If an agent frees up just 20 minutes per day at a rate of $42,000/year, the savings to the property owner is $1,700/agent/year.
  2. Reducing risk of data theft - With paper applications, an applicant's personal information might be left on a desk with the risk of being compromised by someone in the office. That risk is eliminated when the information is submitted online.
  3. Superior data and screening technology - Our data and predictive tools help property owners and managers make their leasing decisions easier, faster and more effective.
  4. Customizing requirements at the property level - With a simple interface and intuitive navigation, the self-service property manager module enables staff to configure Leasing Manager down to the property level and without help from IT.
  5. Dashboards providing at-a-glance, real-time status - Lets the leasing team focus on qualified leads that can quickly convert to a lease. The team can also receive email alerts that let them know when to “ping” an applicant to keep the activity moving forward.

 

Ask prospective online leasing workflow solution vendors:Leasing Manager Video

  1. How will your solution be integrated with my existing property management software, forms and payment card processor?
  2. How does an applicant's online payment get credited to my account?
  3. Can your solution be customized to match my unique brands or multiple locations? 
  4. Can I send different messages to applicants at different properties?
  5. Can an applicant use a tablet as well as a computer to work with your software?
  6. Can an applicant start and complete the lease forms all the way to an e-signed lease?
  7. How is the screening experience for the applicant? 
  8. How effectively does the workflow expose applicants to required insurance?
  9. Does the solution integrate?
  10. How do you handle training and support?
  11. Does the leasing team have visibility to the status of applicants with an at-a-glance dashboard?

 

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For IT Directors

Leasing Manager - Integration with property management software
Leasing Manager - Stand-alone version
Choosing an online leasing application solution - Part 1 (Product)
Choosing an online leasing application solution - Part 2 (Support)

Advantages:

Leasing Manager Video

  1. Real-time data feeds - Applicants can browse real-time vacancies, pricing and other property-specific information. No extra work is required from IT to enable the two solutions to share data.
  2. Efficient financial transactions - Application fees and deposits paid by prospective residents are automatically credited to their account and updated in the applicant's record in the property management software ledger.
  3. Retaining the renter credit quality result - The applicant's screening result is based on the property's criteria. It is passed through to the property management software where it is stored with the applicant's record.
  4. Populating data fields - Data fields can be populated by the property management software into Leasing Manager, and, in turn, can populate the property management software from Leasing Manager.
  5. Document upload - Store community rules and policies, rental criteria, pet policies, etc. You choose the documents you want. Click “Add document” and then simply upload them.
  6. Alerts - Activate the alerts you want the leasing professionals to receive.
  7. Dashboards - Accessible audit trails with real-time visibility to progress through the application.
  8. Yardi and AMSI certified - Each piece of functionality includes integrations with other best-of-breed tools. Instead of making compromises with a single source vendor, clients are able to pick and choose the capabilities they need. With what we call the “integrated” version of Leasing Manager, both Yardi and AMSI data flows freely into your existing property management software. The net effect is that the technology takes the place of data entry work, re-keying, that leasing professionals used to have to do. There are fewer errors. The leasing professionals don’t see the applicant’s private personal information. The property runs more efficiently and reduces risk.
  9. Payment processor integration – PayLease allows properties to create their own best-of-breed approach.

 

Advantages:

  1. Same processes as integrated - Applicants enjoy the same online application, renter credit quality screening and fee payment processes found in the integrated version.
  2. Showcase your inventory - Property owners will be able to showcase available apartment homes and current rental pricing.
  3. Efficient financial transactions - Application fees and deposits paid by prospective residents are automatically credited to the clients's account.

 

Leasing Manager Video

Ask prospective online leasing workflow solution vendors:

  1. How will your solution be integrated with my existing property management software?
  2. Can you integrate my forms into your solution?
  3. How does an applicant's online payment get credited to my account?
  4. Can your solution be customized to match my unique brands or multiple locations?
  5. How do you accommodate international applicants with an Individual Taxpayer Identification Number or whose current residences include foreign postal codes or international phone numbers?
  6. Can an applicant use a smartphone or tablet as well as a computer to work with your software?

 

Leasing Manager Video

Also ask prospective online leasing application solution vendors:

  1. Show me your implementation plan.
  2. How much support will your implementation team need from my IT resources?
  3. Explain your training plan and costs.
  4. How does training change when I hire new employees after the initial sessions?
  5. What are your support hours? Are you available on Saturdays and holidays?
  6. Do you offer an account manager for personalized service? What analyses do they offer? How often?
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For Property Managers and Leasing Agents

Leasing Manager - Accelerating applicant pipelines
Leasing Manager - Positioning agents to up-sell
Leasing Manager - Configuration capabilities
Leasing Manager - Applicant status dashboards for leasing agents

The workflow built into Leasing Manager from CoreLogic produces better applicant pipelines for property managers. 

Leasing Manager Video

 

Advantages:

  1. Getting to screening - By collecting the least amount of an applicant's personal information that is necessary to generate a screening report, a greater percentage of prospective renters reach the application fee stage.
  2. Collecting fees and deposits - Since these are collected earlier in the process than typically exists with paper applications (and some online leasing solutions), applicants get financially committed to your property earlier.
  3. Notification of screening decision - Applicants quickly receive screening results based on the property's criteria. Leasing agents are notified by email and can take action to "get the lease off the street" before the applicant explores alternatives.
  4. Customization at the property level - Regional property managers appreciate being able to configure the branding, community rules and policies, and messages for applicants for each property in their territory.

 

Leasing agents appreciate having more time to up-sell residents. Agents love having less administrative work.

 

Advantages:

  1. Outsourcing data entry - With applicants handling their own data entry, there are fewer errors leading up to the request for a screening report. 
  2. Speed of screening - Screening decisions based on the property's criteria are quickly delivered to the applicant. The leasing agent is notified by email at the same time. When a "conditional" or "denied" result is returned, instructions keep the applicant engaged so as to explore alternatives with the leasing agent.
  3. Capturing more revenue (and commissions) - Since leasing agents spend less time on data entry, they have more time to up-sell residents on rental items like parking spaces, storage units and washer/dryers. They can identify options that keep "conditional" or "denied" applicants in the community or within the property owner's larger portfolio. The path toward making commissions is easier.

 

Advantages: 

  1. Self-service interface - Property managers can selectively include the elements of the workflow that fit their objectives without IT support. For instance, some may want an end-to-end turnkey option from "shop and apply" and "screening" through to "e-signature." Others may only use the service through background screening. Still others may want to activate a different payment processor.
  2. Your brand (or brands) - Customize your branding at the portfolio level or create a unique user interface for each property.
  3. Distributing rule and policies - Present corporate-wide rules and policies, or customize them by property.
  4. Use the messages you want - With Leasing Manager from CoreLogic, a property manager can create and store a series of messages for applicants to see throughout the process. For example, a message might be triggered by a "denied" screening result that suggests the applicant call the leasing office for alternatives.

 

Leasing agents waste far less time trying to figure out which applicants have completed which phases in the leasing process.

 

Advantages:

1. Summary-level dashboard - Leasing agents can view real-time, summary-level reports on the progress of current applicants. The dashboard displays all application information, uploaded documents, date and time stamps of acknowledgements, "activity and actions" sections, and other process management tasks.

2. Detail-level reports - Leasing agents can double-click the name of any applicant from the summary-level dashboard and quickly see the progress of that specific applicant.

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Meet with us at one of our upcoming events:  

  • Georgia Apartment Association (Jekyll Island, GA) - Sept. 10 - 13
  • Apartment Association of Greater Memphis (Memphis, TN) - Sept. 21
  • Alabama Apartment Association (Birmingham, AL) - Sept. 22 - 23
  • Florida Apartment Association (Orlando, FL) - Oct. 5 - 7
  • Pennsylvania-Delaware Apartment Association (Wilmington, DE) - Oct. 8 - 9
  • Central Virginia Apartment Association (Richmond, VA) - Oct. 13
  • New England Affordable Housing Multifamily Association (Randolph, MA) - Oct. 19
  • Apartment Association of Greater Omaha and Lincoln Management Conference (Omaha, NE) - Oct. 22
  • NMHC OpTECH (Dallas, TX) - Nov. 14 - 16

 

 

 

 

Events

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Meet us at one of our upcoming events.

Contact Us

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Join our email list, request a demo or speak with sales.

 

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