In a significant advancement for the multifamily housing sector, 365 Connect has unveiled its new Junk Fee Act Compliant unit selection interface, aiming to enhance the rental experience for prospective tenants. The platform, which is recognised as a leader in automated marketing, leasing, and resident engagement, is now equipped to offer detailed and real-time move-in cost calculations alongside enriched unit-specific amenities, imagery, virtual tours, pricing, and availability.
The release was announced on December 10, 2024, during a period marked by shifting renter expectations. A recent survey conducted by Apartments.com, which gathered insights from 30,000 renters, indicated an overwhelming demand for detailed unit-specific information, with 99% of participants expressing a need for this information during their selection process. This growing preference underscores a transformation in how renters approach their housing options, seeking greater transparency and personalised data when evaluating apartments.
With this new feature, potential tenants can access unique details related to individual units, including amenities, photos, virtual tours, and tailored pricing based on selected lease terms and move-in dates. Furthermore, the platform's ability to calculate total move-in costs in real-time—which encompasses rent, deposits, and service fees—affords renters a clearer understanding of their financial commitments.
The advancements introduced by 365 Connect also serve to streamline the leasing process for property management teams, reducing complexities by providing comprehensive information that can expedite leasing cycles and enhance conversion rates. By ensuring full pricing transparency and adherence to the latest Junk Fee Act regulations through all stages of the leasing process— from marketing to application and lease execution—the platform supports potential renters in making informed decisions.
James W. Lancaster, Chief Product Officer of 365 Connect, articulated this shift in renter behaviour, stating, "Renters are no longer satisfied with just knowing general property details; they want to compare individual units, understand how each space differs, and determine which one best suits their personal needs and preferences." This highlights the company's commitment to meeting evolving customer expectations through detailed information provision.
The technological backbone of 365 Connect incorporates intelligent systems alongside rule-based robotic processes and artificial intelligence. This integration is part of a broader strategy to enhance operational performance within the multifamily sector—reducing expenses, increasing efficiency, and fostering new levels of human productivity. Notably, the recent introduction of the search-to-sofa® solution is designed to automate marketing efforts, simplify application processes, and facilitate digital lease signing, effectively aligning with the needs of multifamily housing operators aiming for optimal results.
Kerry W. Kirby, CEO of 365 Connect, also emphasised the importance of transparency in fostering trust among renters. "Providing unique details, from in-home amenities to the true costs of living, can be a key differentiator for properties looking to attract and retain discerning renters who value clarity and control in their housing search," Kirby remarked. He reiterated the necessity for the sector to evolve its processes to ensure compliance with regulations and empower renters in their decision-making journeys.
Founded in 2003, 365 Connect has built a reputation for its pioneering advancements within the multifamily community space. The company's AI-driven platform is specifically attuned to the needs of renters, management teams, and the changing landscape of the housing market, reflecting its mission to drive the future of multifamily innovation.
Source: Noah Wire Services