GAITHERSBURG, MD. – Sept. 1, 2020 – Edgewood Management and Vantage Management, the premier East Coast affordable, market-rate and mixed-income property management companies, today announced a partnership with resident referral platform Rentgrata.
Following a successful 75-day Rentgrata pilot at five communities, Edgewood and Vantage has budgeted to onboard additional sites in the near future. During the pilot, Edgewood and Vantage saw an 18.3% lead-to-lease conversion rate using the website widget, as well as benefits from a reputation management perspective.
“Rentgrata allows a prospective resident to go beyond ratings and reviews, and we feel like the best referrals come from residents,” said Wendy Simpson, vice president of marketing for Edgewood and Vantage. “We can anticipate that if a resident is referring someone, that they’ve had a pretty deep and thorough conversation about the pros and cons. Rentgrata provides prospects with the opportunity to ask questions of real stakeholders – residents who live at the community and who are willing to share what they have experienced in the community. Because they’re having real conversations with real people, my sense is that those residents are going to be honest and insightful.”
Edgewood and Vantage are always looking for innovative ways to better serve their current and future residents, and Rentgrata has proven to be an invaluable leasing tool during the Covid-19 pandemic, when in-person tours and interactions have been limited. Simpson said that Rentgrata also exhibits a community-building facet that isn’t offered in other platforms.
“When our residents participate in a program like this, they feel like they’re giving back,” Simpson said. “They’re helping prospective residents become neighbors and maybe even friends, and that would potentially impact the resident’s propensity to renew their lease. Not to mention, it adds to resident’s cashflow every time they refer someone through Rentgrata.”
Rentgrata co-founder Zach Sloan credits Edgewood and Vantage for having the foresight to adopt new technology and the vision to recognize and embrace Rentgrata’s ancillary benefits.
“They saw that Rentgrata was a great complement to what they were already doing, and that differentiates them and provides their prospects with a unique experience and access to resident sentiment,” said Sloan. “During the pilot, they could clearly see how Rentgrata could not only assist but also evaluate the results. We’re excited to move forward and bring Rentgrata to a greater portion of the Edgewood and Vantage portfolio.”
Edgewood and Vantage will continue the Rentgrata roll-out over the next few months and into the next budget year.
