Accounts Receivable Management for Multifamily Housing

In this episode of the Multifamily Innovation® Podcast, host Patrick Antrim sits down with Lynn Musil, CEO and Co-Founder of Pay Ready. Lynn shares his journey in the multifamily industry and the innovative solutions his company provides for managing post-move-out rent collections. The conversation delves into the origins of Pay Ready, highlighting the gaps it addresses in the multifamily industry, particularly in handling the move-out process.

Lynn provides an in-depth look at Pay Ready’s platform, discussing its features like automated outreach, flexible payment plans, and integrations with other systems to ensure seamless ledger reconciliation.

Lynn emphasizes how Pay Ready improves the experience for both property managers and former residents by making the rent collection process more efficient and less confrontational. He introduces innovative payment methods like Apple Pay and Google Pay and explains how the company uses a CRM approach to manage accounts receivable. Lynn underscores the importance of a customer-friendly communication strategy to preserve positive relationships even after residents move out.

The discussion also touches on the culture at Pay Ready, with Lynn sharing insights into building a strong, cohesive team and maintaining a flat organizational structure. He outlines his vision for the future of Pay Ready, including potential expansions and the careful balance of maintaining focus while exploring new product opportunities. 

Lynn’s approach to involving clients actively in the development process ensures that Pay Ready continues to meet the evolving needs of the multifamily industry.

Subscribe to the Multifamily Innovation® Podcast for more industry insights and updates. #multifamilyinnovation #rentcollection #propertymanagement #multifamilytechnology #PayReady

About the Multifamily Innovation® Council:

The Multifamily Innovation® Council is the executive level membership organization that makes a difference in your bottom line, drives a better experience for your employees, and allows you an experience that keeps demand strong for your company. The council is uniquely positioned to focus on the intersection of Leadership, Technology, AI, and Innovation.

The Multifamily Innovation® Council is for Multifamily Business leaders who want to unlock value inside their organization so they can create better experiences and drive profitability inside their company.

To learn more or to join, visit https://multifamilyinnovation.com/council.

For more information and to engage with leaders shaping the future of multifamily innovation, visit https://multifamilyinnovation.com/.

Connect:
Multifamily Innovation® Council: https://multifamilyinnovation.com/council/
Multifamily Innovation® & AI Summit: https://multifamilyinnovation.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

AI: The New Multifamily Value Add

On today’s episode, Patrick Antrim, CEO of nectarflow.com and Chairman of the Multifamily Innovation® Council, brings his perspective on leveraging AI and technology in the multifamily industry to reposition properties.

Patrick emphasizes that the core purpose of multifamily investments is to create value, both for investors seeking yields and for residents seeking housing solutions. He highlights the increasing challenges in the industry, such as rising capital costs and construction delays, which necessitate a shift towards more efficient business operations. AI and automation, according to Patrick, are the new value-adds that can unlock efficiencies and profitability that traditional physical upgrades might not achieve.

Lauren Stinson, VP of Strategic Marketing & Media at Multifamily Leadership, provides her insights on the transformative potential of AI in real estate. She notes that AI offers a non-physical value addition that can yield immediate returns, revolutionizing how properties are managed and valued.

Throughout the conversation, Patrick delves deep into the benefits of integrating AI into multifamily operations. He argues that technology isn’t just about replacing tasks but enhancing the capabilities of employees, making their work more enjoyable and error-free. This, in turn, supports a healthier business ecosystem where investors achieve their returns, residents receive quality service, and employees engage in meaningful work.

The discussion also covers the practical aspects of adopting AI in multifamily settings. Patrick describes how nectarflow.com aids companies in integrating AI seamlessly into their existing processes, improving decision-making and operational efficiency without the heavy upfront investments typically associated with new technologies. He explains that AI can simplify complex processes, reduce redundancy, and ultimately enhance profitability by allowing businesses to scale operations more effectively.

The episode concludes with an open invitation from Patrick to explore the possibilities with nectarflow.com, encouraging listeners to reach out and learn more about how nectarflow.com can tailor solutions to their specific business needs and create unprecedented value in their operations.

About the Multifamily Innovation® Council:

The Multifamily Innovation® Council is the executive level membership organization that makes a difference in your bottom line, drives a better experience for your employees, and allows you an experience that keeps demand strong for your company. The council is uniquely positioned to focus on the intersection of Leadership, Technology, AI, and Innovation.

The Multifamily Innovation® Council is for Multifamily Business leaders who want to unlock value inside their organization so they can create better experiences and drive profitability inside their company.

To learn more or to join, visit https://multifamilyinnovation.com/council.

For more information and to engage with leaders shaping the future of multifamily innovation, visit https://multifamilyinnovation.com/.

Connect:
Multifamily Innovation® Council: https://multifamilyinnovation.com/council/
Multifamily Innovation® & AI Summit: https://multifamilyinnovation.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

Transforming Tech From Startup to Industry Powerhouse

What does it take to transform a two-person startup into a powerhouse in the high-speed internet industry? Join us as Sean Gorman, owner and CEO of Safety Net Access, unveils his remarkable journey. From pioneering in hospitality to expanding into multifamily units and commercial properties through their division, Amicus Networx, Sean shares how his competitive spirit from professional sports has shaped the company’s success. You’ll learn the secrets behind their seamless transition between industries and the crucial role robust customer service plays in their growth.

Imagine running a tech company that maintains a personal touch in every interaction—Sean does just that. Discover how Amicus Networx has built strong relationships with clients by prioritizing direct communication and educating customers to manage expectations effectively. We delve into the challenges and opportunities presented by evolving technology in construction, and how Amicus Networx simplifies tech integration to meet high service expectations, especially for complex tech needs like gaming setups.

With a strategic in-house software team in Belfast, Ireland, and a focus on hiring the right talent, Safety Net Access fosters innovation and maintains its stellar reputation. We explore the increasing demand for bandwidth in both hospitality and multifamily industries, and the importance of understanding diverse client needs. Sean also shares insights on navigating business partnerships and providing a white glove experience. Learn how their various divisions create an ecosystem that enhances customer experience and problem-solving capabilities. Don’t miss this episode packed with actionable insights and inspiring stories!

About the Multifamily Innovation® Council:

The Multifamily Innovation® Council is the executive level membership organization that makes a difference in your bottom line, drives a better experience for your employees, and allows you an experience that keeps demand strong for your company. The council is uniquely positioned to focus on the intersection of Leadership, Technology, AI, and Innovation.

The Multifamily Innovation® Council is for Multifamily Business leaders who want to unlock value inside their organization so they can create better experiences and drive profitability inside their company.

To learn more or to join, visit https://multifamilyinnovation.com/council.

For more information and to engage with leaders shaping the future of multifamily innovation, visit https://multifamilyinnovation.com/.

Connect:
Multifamily Innovation® Council: https://multifamilyinnovation.com/council/
Multifamily Innovation® & AI Summit: https://multifamilyinnovation.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

AI for Multifamily Innovation and Data-Driven Success

In this episode of the Multifamily Innovation® Podcast, host Patrick Antrim engages with Mukund Chopra, a serial entrepreneur and early investor in companies like Groupon and Slack. Mukund shares his insights on leveraging technology and data to enhance business efficiency in the multifamily industry. The conversation delves into the core purpose of a company, emphasizing the importance of maximizing return on equity through efficient resource deployment.

Mukund explains the significance of data ownership and its transformative potential when combined with AI, highlighting that the most valuable companies today are those that can access and unlock their data effectively. He provides a nuanced perspective on when not to use AI, stressing that its application should be strategic and not just a trend-driven decision.

Mukund recounts his experiences in various industries, including his leadership role at Groupon during its historic IPO and his work in big data and AI. He discusses how conversational AI and machine learning have been integrated into business processes long before the current hype, advocating for a thoughtful approach to adopting new technologies.

The episode covers practical frameworks for identifying areas where AI can add value, emphasizing the importance of starting with first principles thinking. Mukund also talks about the cultural shift required within organizations to embrace efficiency and innovation. He shares examples from his current venture, Blue Lake, which helps multifamily operators monetize customer data without invasive practices, illustrating how data can be a significant asset beyond traditional real estate operations.

The discussion wraps up with reflections on the evolving nature of companies, comparing traditional resource-based models with modern data-driven enterprises. Mukund underscores the need for multifamily leaders to view technology as a critical component of their business strategy, not just an IT function.

Overall, this episode offers a masterclass in understanding the intersection of technology, data, and business efficiency, providing valuable insights for multifamily executives looking to innovate and stay ahead in a competitive market.

About the Multifamily Innovation® Council:

The Multifamily Innovation® Council is the executive level membership organization that makes a difference in your bottom line, drives a better experience for your employees, and allows you an experience that keeps demand strong for your company. The council is uniquely positioned to focus on the intersection of Leadership, Technology, AI, and Innovation.

The Multifamily Innovation® Council is for Multifamily Business leaders who want to unlock value inside their organization so they can create better experiences and drive profitability inside their company.

To learn more or to join, visit https://multifamilyinnovation.com/council.

For more information and to engage with leaders shaping the future of multifamily innovation, visit https://multifamilyinnovation.com/.

Connect:
Multifamily Innovation® Council: https://multifamilyinnovation.com/council/
Multifamily Innovation® & AI Summit: https://multifamilyinnovation.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/

Moshe Crane, VP of Strategic Initiatives and Branding at Sage Ventures

In an industry often seduced by buzzwords and herd mentality, the latest episode of the Multifamily Innovation® Podcast with host Patrick Antrim offers a vital antidote. Featuring guest Moshe Crane, VP of Strategic Initiatives and Branding at Sage Ventures, this episode is an urgent call to action for every high-level executive who wants to stay ahead in the multifamily landscape.