Case Studies Cardinal Group Now Executes 85% of Leases Online

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	Cardinal Group Now Executes 85% of Leases Online

Cardinal Group Now Executes 85% of Leases Online

Technology Category	Functional Applications - Enterprise Resource Planning Systems (ERP) Functional Applications - Remote Monitoring & Control Systems
Applicable Functions	Facility Management Sales & Marketing
Use Cases	Predictive Replenishment Remote Asset Management
Services	System Integration Training
Challenge	Handling the high-pressure, competitive sales environment that student housing faces every year is a daunting task, even for an experienced property management company. Rapid turnover and the opportunities created by advances in technology prompted Cardinal Group to seek an offering that would not only improve their overall leasing processes, but innovate their practices. Cardinal Group focused on applying Property Solutions’ leasing technology to handle the high-pressure, competitive sales environment in student housing. Read More
About Customer	Founded in 2004, Cardinal Group Management oversees student housing properties consisting of more than 5,000 units. Cardinal Group combines a highly analytical approach with hands-on management to deliver appropriate risk-adjusted results for investors and clients. The company has received several national awards, such as MHN Excellence Awards and Student Housing Business Awards for excellence in marketing and turnaround efforts. Read More
Solution	Cardinal Group initially tested Property Solutions’ online leasing product LeaseExecution™ at the Auraria Student Lofts in Denver, CO. The pilot proved so successful that they quickly decided to roll it out, along with SiteTablet®, across all student properties. The online leasing systems integrated with their leasing documents partner: Blue Moon, a service that facilitates compliance with state and local laws in every area of the country. On-site teams were trained to offer students the option to sign leases online or on the iPad tablet rather than printing, scanning, and filing a paper lease. The company elected to use online leasing options to remove barriers to signing. One simplification allows online application data to port automatically without requiring leasing staff or residents to re-enter the information. Cardinal Group is also leveraging online leasing tools to improve the likelihood of lease renewals. Cardinal is also taking advantage of the mobility offered by the SiteTablet iPad app to simplify the renewal process. Read More Log in to view content
Contents

Technology Category

Functional Applications - Enterprise Resource Planning Systems (ERP)

Functional Applications - Remote Monitoring & Control Systems

Applicable Functions

Facility Management

Sales & Marketing

Use Cases

Predictive Replenishment

Remote Asset Management

Services

System Integration

Training

Challenge

Handling the high-pressure, competitive sales environment that student housing faces every year is a daunting task, even for an experienced property management company. Rapid turnover and the opportunities created by advances in technology prompted Cardinal Group to seek an offering that would not only improve their overall leasing processes, but innovate their practices. Cardinal Group focused on applying Property Solutions’ leasing technology to handle the high-pressure, competitive sales environment in student housing.

About Customer

Founded in 2004, Cardinal Group Management oversees student housing properties consisting of more than 5,000 units. Cardinal Group combines a highly analytical approach with hands-on management to deliver appropriate risk-adjusted results for investors and clients. The company has received several national awards, such as MHN Excellence Awards and Student Housing Business Awards for excellence in marketing and turnaround efforts.

Solution

Cardinal Group initially tested Property Solutions’ online leasing product LeaseExecution™ at the Auraria Student Lofts in Denver, CO. The pilot proved so successful that they quickly decided to roll it out, along with SiteTablet®, across all student properties. The online leasing systems integrated with their leasing documents partner: Blue Moon, a service that facilitates compliance with state and local laws in every area of the country. On-site teams were trained to offer students the option to sign leases online or on the iPad tablet rather than printing, scanning, and filing a paper lease. The company elected to use online leasing options to remove barriers to signing. One simplification allows online application data to port automatically without requiring leasing staff or residents to re-enter the information. Cardinal Group is also leveraging online leasing tools to improve the likelihood of lease renewals. Cardinal is also taking advantage of the mobility offered by the SiteTablet iPad app to simplify the renewal process.

Impact #1	The implementation of LeaseExecution and SiteTablet has created a number of efficiencies within Cardinal Group’s leasing processes including cost savings with the reduction of paper and printing supplies and saving their teams significant amounts of time.
Impact #2	With LeaseExecution, our team members can provide the high-level overview our residents prefer and get the leases signed at their desks in approximately five minutes.
Impact #3	Automated renewal notices and online renewals also helps Cardinal Group get a clear picture of the market faster than ever before.

Impact #1

The implementation of LeaseExecution and SiteTablet has created a number of efficiencies within Cardinal Group’s leasing processes including cost savings with the reduction of paper and printing supplies and saving their teams significant amounts of time.

Impact #2

With LeaseExecution, our team members can provide the high-level overview our residents prefer and get the leases signed at their desks in approximately five minutes.

Impact #3

Automated renewal notices and online renewals also helps Cardinal Group get a clear picture of the market faster than ever before.

Benefit #1	With 85 percent of their residents now using online leasing across their portfolio, Cardinal Group estimates that time savings in the first six months of 2013 totaled more than 350 hours across their 10 properties.
Benefit #2	Around 80 percent of students that we generated renewal offers for did, in fact, respond to the email.

Benefit #1

With 85 percent of their residents now using online leasing across their portfolio, Cardinal Group estimates that time savings in the first six months of 2013 totaled more than 350 hours across their 10 properties.

Benefit #2

Around 80 percent of students that we generated renewal offers for did, in fact, respond to the email.

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Overview

Cardinal Group Now Executes 85% of Leases Online

Operational Impact

Quantitative Benefit