Curious about resident benefit packages? Rentec Direct’s Brentnie Daggett and Kaycee Miller discuss the advantages of resident benefit packages in this discussion video and explore the benefits that you can offer your tenants.
Resident benefit packages are a commonly discussed feature for many housing providers hoping to encourage more prospective residents to select their property over others. But what, exactly, is a resident benefit package? Rentec Direct’s Brentnie Daggett and Kaycee Miller discuss Rentec Direct’s resident benefit package options and the power of providing them to your tenants.
With Rentec Direct’s built-in resident benefit package, you can attract more renters and advertise the numerous advantages of your Rentec Direct software. Explore these benefits that you may not have considered and the ones you may already have implemented, but could advertise more to encourage prospective residents.
The Power of Resident Benefit Packages for Landlords – Video Transcript
Brentnie –
Hi, this is Brentnie Daggett. I’m here with Kaycee Miller from Rentec Direct, and we are here to talk about landlord questions. So last time we stumbled across some questions on some different forums, and lately the conversation that we are seeing pretty consistently is conversations about resident benefit packages, what they are, should you offer one, and I’m here with Kaycee. She is an industry professional, a landlord herself, and she’s been with Rentec Direct for over a decade. And I was just wondering, what your thoughts are on resident benefit packages?
Kaycee:
“Resident benefit package” has become this hot button term because it’s talking about a value add a property manager or a landlord can offer their tenants. But really, what’s included in it is different services and different features within your lease, within your rental management system that give a land or a renter kind of this value add.
Things that are included in resident benefit packages are things that a lot of people are already doing. It’s just kind of putting them all together in your mind to make them one thing. So a resident benefit package can be things like online payments, access to a tenant portal, getting renters insurance that can be facilitated through your property manager or landlord, and having your landlord report your on-time rent payments to a rent reporting agency that goes to the credit for you to help boost your credit score. There are other things, like getting filters delivered directly to someone’s address, and giving you flexible payment options. So whether that’s online payments, as I mentioned, but also what if someone really likes to pay with cash, but they want to do it securely and electronically.
It’s all these different services that a landlord might have or want to do for their tenants, but then they can call it a resident benefit package to attract a tenant to the property, and then also give them something and a reason to want to rent from you. So we’ve been hearing a lot about it, and there are different ways that people have been marketing resident benefit packages, and of course, Rentec Direct has these services available for landlords.
So, Brentnie, can you describe to people what is included in the Rentec Direct Resident Benefit Package and really what’s accessible to all the clients, landlords, and property managers who use Rentec and want to provide these services to their tenants?
Brentnie:
Yeah, absolutely. So it’s really nice for clients of Rentec Direct because if you’re trying to compile a Resident Benefit package on your own, you’re going to have to go through a bunch of different services to create this comprehensive value add. But if you are a client of Rentec Direct, you actually have access to all of this for your tenants already, and your tenants may actually be using a lot of these benefits right now, but you’re maybe not marketing it the way that your competitors are as a resident benefit package. And for some of you, as you’re listening, this may just mean that you’re honing in that language and that marketing a little bit better when you’re creating your next listing. But yeah, you have access to your tenant portal, and your tenants can then submit maintenance requests 24/7. That’s a very common value add that we’re seeing on these listings with resident benefit packages. That’s already available to your tenants. Renters insurance, Rentec Direct integrates with SURE, and thanks to that integrated partnership, residents can access renters insurance options directly through the tenant portal. And that makes it so easy for them to find coverage.
We have credit reporting options, and that’s something that your tenant can sign up for, and then they’re paying that monthly fee to get their credit reported to the credit bureaus. So they’re already paying rent on time, and they should be getting that credit value add for that. That’s an option that you guys have through Rentec already, along with online rent payments, so they can do ACH, and there are credit cards.
Kaycee mentioned that for those tenants who want to pay with cash, they actually are able to do cash payments electronically. They can go to a plethora of places that they may be visiting already, and then they can go use those cash payments, and it goes straight into your Rentec reporting, which makes it super seamless for both you and your tenants. And then, those flexible rent payment options. You have the ability to offer your tenants the option to pay twice a month instead of just monthly. There are quite a few ways that you can make it easy for your tenants to pay rent on time according to your lease terms.
So there’s just a lot that you may already be dabbling in that you may already be using, presenting it to your tenants as this comprehensive package is going to really refine and hone in on that value add to your tenants. We actually do have a one-sheet, and we can link it so that you can present it and show, if you’re a property manager, to your owners, the value add, and that you understand all of the awesome features that you already are able to utilize.
Want a one-sheet to reference for yourself or to offer to your owners? Download a quick, printable PDF.
Kaycee:
Yeah, I wanted to kind of elaborate on that. Like we’re talking a lot about this value to the residents because those are what the services actually do. And you can attract renters to your properties by being like, “Hey, we have a resident benefit package, get all these additional services when you rent from me”, but the other side of it is attracting more owners and building your portfolio of properties because you can show your owners, “Look how much I take care of the tenants that rent for me. Look at all these services that I can provide our tenants to ensure a positive landlord relationship, to ensure that they’re paying rent on time by using things like these online rent payments and automated payments and the maintenance reporting options that they have”, so the owners get more excited knowing that you’re going to be taking care of their property and giving these service and access to the service to the tenants that are going to be living in their properties.
Learn more: Elevate Your Marketing Strategy With Rentec Direct’s Built-in Resident Benefit Package
So I love that full circle relationship of renter, property manager, owner, and we can see that also with just the landlords who are using the resident benefit packages available to them in the software that they’re already using. So thanks for sharing that information, Brentnie. I know everyone is excited to learn specifically about what resident benefit packages are and how they can use them within the software that they already have, without having to go sign up for a bunch of new, different features and programs.
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