End-To-End Multifamily Software & Service Solution Reduces Expenses and Increases Efficiency
How Simplifyy Brought Brownstone Apartments More Cashflow
November 22, 2019
As multifamily experts, investors, and owners, we know that the truth is often found in the details. Here at Simplifyy, we fall squarely into that camp. That’s why we crafted the industry’s first end-to-end multifamily software and service solution for multifamily communities to help owners realize more cashflow.
The Simplifyy team knows that insight into your multifamily property can be a challenge utilizing the archaic models of property operations. That’s why we make sure to track everything that goes into operating your property and that allows us to accurately show your cashflow!
The Brownstone Apartments Backstory
Our one-of-a-kind team of experts that, quite literally, makes dreams attainable. Our team, after on-boarding the Brownstone Apartments, quickly identified some glaring issues. We quickly saw that the traditional reporting from the apartments was inaccurate, our team found tenents in units supposed to be vacant, inefficiencies in maintenance, and much more.
Occupancy Optimization to Drive Cashflow
At Simplifyy, we know that our alternative approach to multifamily operations is better than property management companies, but we also have to show our work. Thanks to smart-lock technology integrated into our units and a 24/7 resident concierge team, we can help prospects lease apartments around the clock! Prospects love the concept as well, just see how Simplifyy performs versus property management.
Retention & Resident Relations to Stabilize Cashflow
When it comes to optimizing occupancy at a property, you know that retaining residents as long as possible is highly important. Thanks to our expert team, we were able to help Brownstone Apartments increase their retention rate helping stabilize occupancy so we could help it grow.
One major issue that our internal team found was a lack of full documentation concerning several resident accounts. We identified residents who signed new leases at the end of their leases but were not updated in the Brownstone Apartments system, leading to unhappy residents being surcharged monthly.
Thanks to the processes Simplifyy utilizes, we can ensure these mistakes don’t happen so we accurately show your cashflow.
Reducing Lost Revenue and Optimizing Collections
In the end, your property isn’t healthy if you don’t have consistent cashflow and we know that lost revenue in collections is a huge drain on it. Thanks to the technology powering Simplifyy and the expert collections team, we are able to help reduce collections loss and delinquency for your property.
Maintenance That Improves Cashflow
After implementation at the Brownstone Apartments, Simplifyy was able to reduce the monthly cost of maintenance payroll.
That’s not all though, the Simplifyy maintenance team also helps increase your property’s maintenance efficiency. The ability to increase the amount of work our maintenance team can complete helps to keep residents happy with their living experience.
Reducing Expenses Immediately Increases Cashflow
Our primary focus is increasing cashflow for property owners and that drives every aspect of our operations. It’s the reason we provide a wonderful experience to prospects and residents to reflect highly on your multifamily community.
How we help reduce expenses is simple, we absorb and control a variety of costs traditionally incurred by the multifamily property owner. Advertising & marketing, administration, office payroll, and management fees are all rolled into the monthly Simplifyy fee. Additionally, Simplifyy controls variable expenses like maintenance costs to help increase your cashflow.
For the Brownstone Apartments, we were able to deliver $12,312.43 in monthly savings.
If you have an NOI margin at 20% you are saving $61,562.15 in net rental income!