365 Connect, the New Orleans based, award winning online technology platform architect for the multifamily industry, today announced publication of its Two-Year Study of its Multifamily Internet Platforms: The Retreat at Cinco Ranch in Katy, Texas. The second in a series of data compilation and analyses projects, the study tracks two years of usage by market-rate apartment dwellers of Internet-driven leasing and resident platforms. Following activity on 365 Connect’s powerful Online Leasing Centers and Resident Services Portals, the publication delivers more detailed evidence of strong Internet usage by apartment dwellers and provides the best documentation to date in the multifamily housing industry.
The community followed in this Case Study is The Retreat at Cinco Ranch, a market rate, garden style apartment community located in Katy, Texas. With 268 units spread over a unique mix of one-bedroom units ranging in size from 708 square feet to 875 square feet, two-bedroom units from 993 square feet to 1,170 square feet and three-bedroom units at 1,369 square feet, the property appeals to a wide spectrum of professionals and entrepreneurs. With nine-foot ceilings, garden tubs, private entries to a 24-hour fitness center, resort style swimming pool and cyber café, The Retreat at Cinco Ranch sets the standard for creating elegant living in a market-rate community.
The data in this study was collected by 365 Connect, L.L.C., a designer and operator of online marketing, leasing and resident services platforms for multifamily communities. The 365 Connect Multifamily Platforms automatically collect and tabulate an extensive amount of data regarding marketing response, leasing activity and resident interaction. The Retreat at Cinco Ranch data was collected over a full two‐year period from the beginning of 2009 to the end of 2010, representing a statistically significant period of study.
The Case Study revealed that The Retreat at Cinco Ranch’s Online Leasing Platform brought more potential residents to the leasing staff than any other form of marketing, with an astounding 119,355 hits over the two-year period. From this traffic, 2,318 prospect leads were procured through online contact forms and applications. The Case Study further demonstrated that upon the release of 365 Connect’s Marketing Syndication Platform in May 2010, the quality of traffic increased, delivering 1,412 prospect leads in 2010 versus 906 prospect leads in 2009, representing a 58% increase. This data makes a very strong case for the argument that the Marketing Syndication Platform can eliminate the need for traditional third party listing services that are rapidly becoming outdated and redundant.
365 Connect introduced its Mobile Leasing Platform in August of 2010. Despite the short history, mobile usage appeared to be organic in nature in that the community did not market its mobile website. From August to December 31, 2010, The Retreat at Cinco Ranch’s Mobile Leasing Platform produced an average of over 600 hits per month. Along with the addition of QR Codes in late November 2010, 365 Connect’s Mobile Platform has proven the value of mobile marketing by driving additional leasing traffic, delivering prospect leads and “Click to Call” interactions to the community.
Data gathered from The Retreat at Cinco Ranch’s Resident Services Platform brought the multifamily industry its long awaited answer to the question – “Are residents really using Resident Services Portals?” With a staggering 108,084 hits over a two-year period, the 365 Connect Resident Services Platform proved to be worth its weight in gold. It delivered 10,616 contacts between management and residents, 4,810 online exchanges between residents on the Be Social Message Boards and 21,871 views of LearnTV videos.
In 2010, The 365 Connect Automated Lease Renewal Notice System generated 884 renewal notices from which 156 leases were renewed at The Retreat at Cinco Ranch, representing approximately $2 Million in annual lease revenue. The new automated graphic card delivery system for holiday, birthday and “Thank You for Renewing your Lease” cards made 2,043 deliveries to the residents, creating important personal touch points with its residents.
The assemblage and publication of the Case Study demonstrates 365 Connect’s commitment to deliver educational information to the multifamily industry and further cements 365 Connect’s role as the leader in creating leading edge, Web-based technology solutions for the multifamily industry.
The complete Case Study is available at: www.365connect.com
About 365 Connect, LLC: Headquartered in New Orleans, Louisiana, 365 Connect was founded in 2003 by a team of multifamily housing professionals with wide-ranging expertise in real estate development, management and technology. 365 Connect provides web-based technology solutions to the multifamily industry, with a focus on resident and management interaction and doing business in the digital world. Today, 365 Connect is the leader in designing and delivering award winning web-based multifamily technology platforms, with an array of products ranging from online leasing centers and interactive resident platforms to MultifamilyBiz.com, a powerful and robust B2B industry portal. More information on 365 Connect businesses and services is available on the Web at: www.365connect.com