Tackle the challenges of Montreal's rental market head-on with BetterBot

Recent years have shaped today's rental market into a landscape filled with unprecedented challenges, particularly affecting landlords and leasing agents in Montreal, Quebec.

Faced with an escalating city-wide housing crisis, exacerbated by the July 1 moving day this summer, multifamily property owners are grappling with how to streamline the burdensome administrative tasks that leasing teams confront. The goal is not only to alleviate the workload but also to acquire better-qualified leads.

Continue reading as we examine how BetterBot, an exceptionally efficient chatbot that offers guided conversations tailored for the multifamily industry, is part of the essential answer to these ongoing challenges.
 

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Challenge: Managing a Surge in Leads, Including Many That Are Unqualified

The rental market in Montreal has been ablaze with fierce competition among renters, reaching a peak this summer. Open houses and viewings are witnessing extraordinary line-ups and many scrambling for homes with 2 or more bedrooms, the influx of renter inquiries and applications is simply overwhelming.

This predicament can lead to an excessive amount of time devoted to sorting and nurturing leads that might not close as anticipated. Tackling these challenges requires a more deliberate and strategic approach, in order to align with leasing objectives.

How can BetterBot help?

Through its 24/7 online presence on your property's website and its guided conversation functionality, BetterBot serves as a key tool in refining the quality of the leads generated.

According to BetterBot's data, properties using the chatbot typically experience up to 3X more conversions to tour appointments, while an average of 65.5% of unqualified leads get filtered out. This enables teams to focus their efforts on potential tenants who meet their criteria, which can help reduce turnover rates and enhance overall efficiency in lead management. By leveraging BetterBot's capabilities, your leasing agents can optimize lead-generation processes and make better-informed decisions when engaging with prospective tenants. 

To further enhance the process, pair BetterBot with Rentsync Tours to automate the middle of the leasing funnel- qualified renters interacting with BetterBot on a property website will be encouraged to make a tour appointment, all online, without needing any 1:1 reach out to a leasing agent.

The result is a more cohesive and potent rental operation, giving you a competitive edge in today's bustling rental marketplace.

 

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Challenge: Effectively Connecting with Your Target Rental Audience

In vibrant cities like Montreal, where young professionals and students pursuing higher education tend to converge, these two demographics represent a significant portion of renters both in the city center and the suburbs. The common thread among these groups is their dependency on technology for apartment hunting, expecting instant access to information. Traditional marketing mediums like newspaper ads, flyers, and billboards have largely become obsolete.

Keep in mind that over 50% of rental searches are conducted outside standard business hours, as per BetterBot's research. To effectively engage with these potential renters, understanding their unique needs is critical. 

How can BetterBot help?

Being tech-savvy both internally and prospect-facing is essential to avoid losing valuable leads. With BetterBot, you can provide a self-serve option to rental prospects, offering information in their preferred language and instantly answering their property inquiries. From available units and rates to amenities and local attractions, prospects can get all the information they need without delay.

By implementing this self-serve option, you not only save precious time for your leasing agents but also enhance the overall prospect experience, increasing the likelihood of them proceeding with the application process. 

Through offering 24/7 support and instant responses you’re setting your property apart as professional and customer-oriented, giving you a competitive edge in Montreal's dynamic rental market.

 

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Challenge: Keeping up with renter satisfaction

Even if high rental rates aren’t keeping renters from signing leases, the expectations that come with the higher costs are coming as a surprise to many leasing and property management teams. 

Along with higher standards like property cleanliness and access to unique amenities, the use of technology throughout the entire tenant experience has become a requirement, not a preference. When renters have the perception of ‘you get what you pay for’ and they’re paying record-breaking rental prices, it’s important to demonstrate how you intend to meet those expectations in order to win those leases.

How can BetterBot Help? 

The implementation of BetterBot demonstrates that your property is at the forefront of technological innovation. Prospective tenants are reassured of a seamless and convenient tenant experience, right from the very beginning. The chatbot serves as a virtual concierge, guiding visitors through the information they seek, while showcasing the ease of interaction and navigation your company offers.

Using BetterBot sends a powerful message to your potential renters. It shows that your company is committed to providing an unparalleled customer experience and leveraging technology to offer convenience and efficiency at every stage of the rental process. With BetterBot, you can leave a lasting impression and solidify your position as a leader in the multifamily industry.

By generating high-quality leads and offering instant responses to prospective tenant inquiries, BetterBot is here to revolutionize the way you do business and pave the way for success in Montreal's challenging rental market.

 

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Do you have a Rentsync account?
You'll be pleased to know we've partnered with BetterBot to bring you BetterBot paired with Rentsync, with both French and English language options. An all-in-one solution, helping you build your tech stack without the hassle of an entirely separate setup and account.

When you sign up for BetterBot paired with Rentsync, you'll be billed through us, we'll take care of the setup + addition of the chatbot to your website and you'll see your BetterBot leads directly in the Rentsync Platform.