New Vendor Products
The Valorem platform and JLL’s Automated Valuation Model instantly leverages data and provides real-time risk management assessments
Swift Bunny, founded by apartment industry innovator Joe Bailey, today announced the launch of Ingage™ employee feedback system, a cutting-edge solution to the age-old problem of excessive employee turnover. The company has acquired ManagInc, a corporate social responsibility planning and consulting platform. ManagInc founder and CEO Doug Miller joins Swift Bunny as Chief Research Officer, and Chief Operating Officer Jen Piccotti joins as Chief Learning Officer.
Swift Bunny’s Ingage™ is a year-round feedback system focused on the key moments in the employee lifecycle and reveals the candid perceptions of the company’s most important stakeholders: the employees. Feedback becomes insights, and insights become actionable tools that empower multifamily leadership to boost employee satisfaction, performance, and retention, leading to improved organizational efficiency and profitability.
“The apartment industry has an average annual employee turnover rate that’s twice that of other businesses. That’s unacceptable,” said Bailey. “For too long, we’ve considered sky-high turnover normal when it’s anything but. Our platform helps companies reduce excessive employee churn, and the costs associated with it, by identifying drivers of dissatisfaction and directing focus to the issues that matter most to associates.”
The apartment industry supports 12.3 million jobs in the United States. Recruiting, hiring and retaining employees are among multifamily operators’ greatest challenges, and likely result in understaffing some apartment communities. Additionally, only 30% of U.S. workers are engaged in their work while the vast majority of employees (70%) are not reaching their full potential. Swift Bunny is perfectly positioned to assist multifamily owners and managers to improve their employee satisfaction, reduce their employee turnover, and strengthen their bottom line.
“Our philosophy is simple: focus on your people and all stakeholders benefit,” says Miller. “Enhancing employee engagement and retention is good for business in so many ways, including improving productivity and profitability. Workplaces just work better when employees are enthusiastic, contributing, and committed. We help multifamily firms figure out what’s getting in the way of that so they correct it.”
Swift Bunny’s management team brings a wealth of expertise in multifamily talent management, employee engagement, retention, feedback systems, and technology. Bailey is the founder and former CEO/President of Grace Hill, a multifamily eLearning provider. In addition to founding ManagInc, Miller was also the founder of SatisFacts Research, a resident feedback and retention service provider. Joining Bailey, Miller, and Piccotti are Jefferson Morris, Chief Operating Officer, Tammy Chivers Baker, Chief Product Officer, Kevin McGrey, Chief Technology Officer, and Kara Rice, Chief Communications Officer.
Swift Bunny will debut their Ingage™ employee feedback system at the National Apartment Association’s Apartmentalize Education Conference, June 26 – 28, 2019 in Denver, Colorado.
Powered by insurance technology, LeaseLock introduces a modern transaction for rental housing that totally eliminates security deposits
Today LeaseLock Insurance Services, Inc. (LeaseLock) and Boost Insurance (Boost) announce their strategic partnership. LeaseLock, backed by Boost’s platform, offers a first-to-market insurtech product for the rental housing market, enabling enterprise multifamily companies to protect against losses typically funded by inefficient security deposits and surety bonds. LeaseLock Zero Deposit™ streamlines the lease transaction and delivers a better experience for both renters and multifamily operators.
LeaseLock simplifies the leasing process by eliminating security deposits completely on every new lease, dramatically improving the affordability of moving into a new apartment. LeaseLock also eliminates the need for surety bonds, cosigners, and guarantor services. Renters simply pay a fee starting at $19 per month and properties are then insured for over $5,000 against rent and damage loss on every lease. Residents save thousands of dollars at move-in while properties convert more leases with better protection. Boost’s technology-driven platform allows LeaseLock to offer flexible coverage adapted to the needs of multifamily property managers and owners from a user experience, operations, and software systems perspective.
“LeaseLock’s mission is perfectly aligned with Boost; they are transforming the real estate industry by applying an insurtech solution. We are their insurance technology partner to help power their impressive growth to date and beyond,” said Boost CEO and Founder Alex Maffeo. “LeaseLock is truly cutting-edge in the insurtech space. We are excited to partner with them.”
Boost powers custom insurance programs for innovators like LeaseLock, enabling them to monetize the vertical through a simple platform solution. Its infrastructure-as-a-service product, or IaaS, provides LeaseLock with the back end components necessary for an A-rated insurance program including licensed paper, dedicated risk capacity, and claims administration—all offered programmatically through Boost’s proprietary API-driven policy admin system.
“The evolution of the real estate and insurance industries is being accelerated by technology. It is imperative we deliver the most comprehensive lease insurance product to our multifamily customers,” said LeaseLock Co-Founder and CEO, Reichen Kuhl. “Teaming up with a digital insurance partner like Boost fortifies our leadership position in the multifamily insurtech category. Backed by Boost, we offer our customers unparalleled risk mitigation while simultaneously making moving more affordable to millions of renters.”
Competition is fierce in the residential rental market. Expensive upfront security deposits are a major pain point for consumers and result in abandoned lease applications and delayed move-ins for apartment operators. Now, properties can market themselves as Zero Deposit, driving more inbound prospects while turbocharging lease conversion by being better aligned with the modern consumer subscription economy. Boost’s technology provides a flexible, end-to-end solution that will allow LeaseLock to scale more efficiently and streamline operations. LeaseLock Zero Deposit™ is live nationwide.
For more information, visit www.leaselock.com and www.boostinsurance.io.
New Mezzanine Loan Platform Helps to Complete Capital Stack for CMBS Borrowers in a Range of Asset Classes
Full-Service Redeployment Program Provides an “At-Risk” Capital Option for NCEs, Investors and Project Developers; Addresses EB-5 Investor Retrogression
Solution provides greater accessibility of innovative package management to entire industry
Package Concierge®, the multifamily industry’s preeminent supplier and innovator of electronic package management solutions, today announced the availability of two new products designed to further expand package management capabilities industry-wide: Package Concierge Express® and Package Concierge Package Room®.
RealtyMogul.com, a leading online marketplace for commercial real estate investing, today announced the launch of its first commercial real estate fund, MogulREIT I. Structured as a real estate investment trust (“REIT”) with a minimum investment of $2,500, the fund is open to nearly all* investors and offers the potential for consistent cash dividends and equity appreciation.