Managing millennial renters: What you need to know

“You can’t win ‘em all,” is the catch-phrase of the millennial parent, sighing into a bowl of soup as their full-grown child sits across from them, eyes glued to their phone. Millennials are a new generation of adults, and like any generation they have new tastes, new slang, and more importantly for you, new renting habits.

When a tenant moves into your property who is quiet, polite and pays rent on-time, you might think, don’t ever leave me. On the flip-side, when a tenant comes in with an arsenal of 20- 30 years of tried-and-true excuses, you will want to head-off any problems that might arise.

According to PEW, more than half of millennials still live at home with their parents.

This means that when a millennial moves into one of your properties, you are a coin-flip away  from replacing Mom and Dad.

This could mean any number of things but, most importantly, it means that you need to be organized and prepared because they may not be.

Here are some tips on how you can better manage millennial renters.

 

Set up an organized system of reminders:

Email is still an essential tool for spreading important information, be vigilant with providing emails regarding payment reminders, event announcements, and property updates. The golden rule is: if you want people to know, make sure it is in their inbox.

However, many millennials may be detached from email as a primary form of
communication. Some companies go a step further like ManageGO with their Mobile Payment Application.

Using this system, they are able to:

  • Allow tenants to pay rent from anywhere in the world. Millennials are travelers, drawn to explore the world in a way that no previous generation has been. Give them the freedom to fit your rental agreement into this lifestyle.
  • Give tenants the option to send pictures and videos of maintenance issues straight to their landlord or management company. Odds are, your renter has already shared pictures and video of the mysterious brown-spot on the wall with 500 of their closest friends; why not allow them to use this method that is second-nature to better communicate with you?
  • Open a direct line of communication between tenants and landlords. Close the gap between renter and landlord. This is the easiest way to show that you care for your renters and will listen to them when they need you.
  • Send push notifications for rent-reminders, property updates, and more. Millennial renters are used to this form of communication for everything from a like on their photo to a low balance in their bank account.
  • Leverage Face and Fingerprint ID systems for complete ease of use. Fit your rental agreement seamlessly into the everyday way that millennials are using their phones.

There are no more forgotten passwords, being on vacation, or miscommunication.

Tenants can look down and pay their rent from the Great Wall of China or while lounging on a beach in Malta.

Ease of use will always lead to ease of business and peace of mind.
Millennials are, in the end, normal adults. The most important aspect of handling millennial renters is, don’t assume.

As this article has shown, there are a lot of stereotypes and presumptions surrounding millennials, but at the end of the day many of them, if not most of them, will respond to respect. Respect your renters, provide the tools they need to participate in your ecosystem, and you won’t have to win ‘em all.

🎉 It’s out! Our latest mobile apps are live and amazing

Say hello to the new ManageGo app! We’re introducing a completely new look to improve your online rent payments experience.

As part of this release, we have completely redesigned the app and upgraded it with a bunch of new features. We’ve also optimized the communication process between tenants and property managers with our maintenance tickets feature.

We’re excited to announce that this new release is now available to all of you! Just head to the app store and install the update.

Rental applications are now easier than ever!

Speed up the application process for you and your tenants with an easy-to-use online solution!

Collect information: Collect employment information, annual salary, recent rental history, and more

Background checks: One-click background checks and and criminal reports

Guarantor forms: Add guarantor forms automatically or per-apartment

Payments and fees: Collect fees and deposits online with ManageGo payment processing

Document upload: Tenants submit payment stubs, identification, and more

Convert to tenant: Convert approved tenants to ManageGo users, and start accepting online rent payments immediately

We now integrate fully with RentManager

Payments and balances are now synced automatically between you and your tenants! 

What this means for you: All transactions are now automatically recorded in real-time to RentManager, so you can keep track on your apartments and tenants without having to lift a finger (we mean, without having to import files and deal with delays).

What this means for your tenants: Your tenants can now view payment history and balances directly in their ManageGo dashboard. We pull it in real-time so they stay up to date on their activities.

Ready to get started?
Contact our dedicated support team and we’ll get you up and running.

You can now pay your rent with bitcoin!

In a first for the real estate industry, ManageGo, the nationwide cloud-based tenant payment and property management platform, will now enable renters to  using three of the most widely-accepted cryptocurrencies: Bitcoin, Ethereum and Litecoin.

ManageGo has already completed a number of cryptocurrency payment transactions and will roll out the exclusive feature during the first quarter of 2018 across their vast nationwide property management client network.

ManageGo is the only major cloud-based real estate solution that provides property managers with customized, client-branded online and mobile front-end tenant portals. Along with other accepted forms of payment, such as checking account, debit card, and credit card, the crypto option will be integrated into a property manager’s website. Tenants will simply log in, select the payment option, and in seconds, the system will convert and transfer cash to a property manager’s account. All tenants need is their own crypto coin wallet and there is no crypto risk for the property manager.

cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure code, manage transactions and verify transfer of assets. 

“ManageGo is leading the evolution to facilitate safe, secure rental payments using cryptocurrency,” says Chaim Lowenstein, ManageGo vice president of business strategy. “Our exclusive program is the first we know of that easily enables tenants to pay a rent or other expenses using Bitcoin or other approved cryptocurrencies.”

“This Bitcoin advancement is going to be historic, in the same way giving tenants the option to write a check instead of handling large amounts of cash every month changed the way people pay rent,” says Jacob Bernat, president of Plaza Management. “We’re pleased to be one of the first to offer our tenants this convenient, no-risk, instantaneous payment method.”

ManageGo also provides a wide range of benefits that give property managers quicker access to funds. While rent checks typically take two-five days to clear, online and mobile rent payments submitted through ManageGo’s system typically clear by the next day. Additional services include maintenance ticket tracking and cloud document repositories for tenant leases and other documentation.

 

Sharing files with your tenants is now remarkably simple with ManageGo

Did you know that you can now easily share files with individual tenants or multiple tenants at the same time?

Sharing files with tenants:

  • To share a file with a tenant, upload the file to the tenant’s file folder
    To share a file with all roommates from a unit, upload the file to the unit file folder
    To share a file with all tenants from a building, upload the file to the building file folder
    Click on the ‘eye’ icon to share the file

 

When you share files with tenants:

  • They are notified instantly
    Files are saved to the tenant/unit/building file
    Tenants can login to their account and retrieve or download the file you shared with them anytime

Get familiarized with ManageGo’s latest cutting edge Maintenance Scheduler

With the new web scheduler you can see what’s on your teams’ schedule, current and upcoming appointments for all buildings and each maintenance guys’ daily event agenda. And with our innovative ‘Time Ruler’ you can easily track free time available for each employee!

Upon login, each user has a unique web calendar for their created events, or events they have been invited to. Admin and Manager Users are able to view and manage the calendar for all users.

To create a scheduler event, click on the calendar icon on the ticket details page.

When an event is created, the event is automatically added to the web calendar and all users’ calendars are instantly updated when they are added to an event. In addition all participants will receive an email with an event attachment, which they can then import to their devices’ personal calendars.