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Multifamily Demo Day - Effective Vendor Demos & Asking the Right Questions.pdf

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Multifamily Insiders | Demo Day Resources 09/2022
Effective Supplier Demos & Asking the Right Questions
Tips for Effecti...
2
Multifamily Insiders | Demo Day Resources 09/2022
Worksheet - Ask These Questions of All Suppliers
Experienced suppliers...
3
Multifamily Insiders | Demo Day Resources 09/2022
Contract & Pricing
• What is the typical contract length and/or unit c...
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It is impossible for a property management professionals to be both an expert in their own field as well as an expert in all the respective supplier niches, as well. This means any time we are evaluating new suppliers, we are at a disadvantage. The supplier will almost always have more information about about their strengths and weaknesses, as well as how they stack up against the competition.

It is impossible for a property management professionals to be both an expert in their own field as well as an expert in all the respective supplier niches, as well. This means any time we are evaluating new suppliers, we are at a disadvantage. The supplier will almost always have more information about about their strengths and weaknesses, as well as how they stack up against the competition.

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  1. 1. 1 Multifamily Insiders | Demo Day Resources 09/2022 Effective Supplier Demos & Asking the Right Questions Tips for Effective Demo Calls TIP #1 – Be Strategic with Time Optimize your conversations with suppliers to involve the right people at the right time. It is quite common to have several “demo” calls prior to committing to a new technology. If you have a good feeling near the end of the first call, go ahead and schedule the next one to keep the process moving. You can always cancel it if needed. 1. A brief, initial fact-finding call with a limited number of experienced participants who can quickly include or exclude the technology as a viable solution. (20-30 minutes) 2. A full product demo with key stakeholder representation from various departments. (60-90 minutes) 3. If needed, a follow-up call to thoroughly review key details with subject matter experts. (Length varies by need) • For example: discussing integration specifics with Software Teams; understanding construction building code and installation procedures with Facilities Teams; a deep dive into reporting options with Analysis Teams; device/internet or single sign-on (SSO) requirements with IT Teams; legal or document review with Risk Management or Compliance Teams, etc. • Separating these discussions from the main demo can be beneficial, as suppliers do not typically bring each of their subject-matter experts on a general sales demo. • Due to availability of internal experts, this call sometimes is scheduled to occur after contracts are signed, however by that point it is often too late to back-track if critical issues are discovered in these discussions. TIP #2 – Supplement Your Memory If you’re meeting with multiple suppliers, it can be hard to remember all the differences between them. In addition to taking digital or physical notes, you can: • Ask if the calls with the supplier can be recorded for reference • Utilize this worksheet to be sure you collect some standardized information for easy comparison • If possible, take screenshots of any key features or graphs so you can take notes around them during the call • Request the slide deck (presentation materials) from the supplier after the call • As meetings with the supplier progress and you sign the contract, request copies of training materials, user guides for on-site teams, resident announcements or how-to documents, administrative resources, etc. TIP #3 – Approach All Things Curiously While reviewing a product, remember that you are also interviewing the supplier. This is also a great opportunity to observe the supplier’s demeanor, candor, product knowledge, and if they align with your company values. Many times, you will be presented with solutions you haven’t considered. You may see solutions to replace several existing products with this new suppliers’ technology – that could be great! Just be sure you’re still solving the core problem. WARNING – A Demo is a Sales Pitch! Walking in with the right questions and stakeholders will allow you to make informed, strategic decisions. This is a supplier your company may partner with; you have both a right and an obligation to ask questions.
  2. 2. 2 Multifamily Insiders | Demo Day Resources 09/2022 Worksheet - Ask These Questions of All Suppliers Experienced suppliers will include most of this information in their presentations. When utilizing this worksheet for notes, you can quickly identify any critical items that were not reviewed. If there isn’t time to get additional answers on the call, list your remaining questions in a follow-up email along with any feedback. Date: _____________ Supplier: _________________________________________________________ Main Supplier Contact: _____________________________________________________________________ Participants: ______________________________________________________________________________ Timing, Implementation, & Success • What is the lead time to receive a written bid or contract? ______________________________________________ • What is the lead time between contract execution and go live? ___________________________________________ 1-2 Communities: _____________ A Portfolio or Region: _____________ Company-Wide: __________________ • Is there a structured implementation guide? __________________________________________________________ Be sure there is a dedicated representative, existing worksheets or checklists, defined call structures, etc. • Is there a need for third-party participation? __________________________________________________________ Ex. Subcontractors, integration partners, payment processing, etc. • Are there existing clients to provide references for this technology? ________________________________________ • How does the supplier define success? _______________________________________________________________ _______________________________________________________________________________________________ Ex. Convert 30% more leads to leases, save Maintenance 1 hour a day, eliminate after-hours lock-out calls and reduce lock replacement costs by 80%, increase resident satisfaction by 5%, pay invoices 2 days faster, 10% savings in common area water. Responsibilities • Define the support and training the Supplier will provide: ________________________________________________ Setup guidance before and during implementation? Yes / No Troubleshooting support during pilot period? Yes / No After Pilot Period? Yes / No Training of internal administrators / super-users? Yes / No Training of end users? Yes / No Is the training customized to the company? ___________________________________________________________ • Are there any hardware dependencies? ______________________________________________________________ o Who coordinates the purchases? ____________________________________________________________ o Who completes installation? ________________________________________________________________ N/A N/A N/A N/A N/A
  3. 3. 3 Multifamily Insiders | Demo Day Resources 09/2022 Contract & Pricing • What is the typical contract length and/or unit count requirement? _______________________________________ • Can the technology be implemented on a trial/pilot period, where the contract ends if success metrics are not met? ______________________________________________________________________________________________ • What is the price structure? _______________________________________________________________________ Per transaction: ___________________________________ Per unit: _____________________________________ Per site: _________________________________________ Billing Frequency: ______________________________ Tiered for volume discounts? ______________________________________________________________________ Any implementation or installation fees? _____________________________________________________________ • Are there any corresponding hardware purchase and installation costs? ____________________________________ ______________________________________________________________________________________________ Integrations • Does this technology integrate with the core Property Management Systems (PMS)? Yes / No • Is a specific version of the PMS required? Yes / No Version Needed: _____________________________________ • Integration Type: Registered/Certified Integration Partner API (Application Programming Interface) No Data Push/Pull, Only Ingests Data from Scheduled Reports 100% Manual Entry • Is data pushed TO the PMS? Yes / No How Frequently? ___________________________________________ What specific fields in the PMS does the information push to? ___________________________________________ Does it overwrite existing PMS information? __________________________________________________________ What happens when there is an error? ______________________________________________________________ • Is data pulled FROM the PMS? Yes / No How Frequently? ___________________________________________ What specific information is obtained from PMS? ______________________________________________________ What happens when there is an error? ______________________________________________________________ • Is integration available with additional technology platforms in use? _______________________________________ ______________________________________________________________________________________________ • Can a test database be configured for customization and testing? _________________________________________ Data • Are there PII (Personally Identifiable Information) data collection, storage, and confidentiality policies in place? ______________________________________________________________________________________________ • Is reporting regularly available within the technology? __________________________________________________ ______________________________________________________________________________________________ • Is the raw data available? How is it accessed? In which format is the raw data provided? _______________________ ______________________________________________________________________________________________ N/A N/A N/A N/A
  4. 4. 4 Multifamily Insiders | Demo Day Resources 09/2022 Accessibility • Is the technology mobile-friendly for end-users and administration? _______________________________________ • Which property types are currently supported by this technology: Yes / No Market Yes / No Affordable Yes / No Military Yes / No Student Yes / No Senior Yes / No Condo/HOA Yes / No Single Family Yes / No Centralized Leasing (CLO) Yes / No Mixed Yes / No Commercial Yes / No Retail/Office Yes / No ________________ • What features are incorporated to improve accessibility? _______________________________________________ ______________________________________________________________________________________________ Ex. Language Translation, Color and Contrast, Font Size & Types, Zoom, Alt Text, Text-to-Speech, Captions, Speech Recognition, Audio Controls, Keyboard Accessibility, On-Screen Keyboard, Accessible Hyperlinks, Helpful Error and Success Messages, etc. Problems Solved Discuss your overall findings from the prior research when defining the problem. This is your opportunity to speak on behalf of any stakeholders that are not present. • Which aspects of the defined problem are solved by this technology? ______________________________________ ______________________________________________________________________________________________ • Which aspects of the defined problem are not solved by this technology? ___________________________________ ______________________________________________________________________________________________ • Does the supplier have a unique approach or resolution to the problem? ___________________________________ ______________________________________________________________________________________________ • Has the supplier effectively solved this same problem for another client? Who? ______________________________ ______________________________________________________________________________________________ Additional Notes & Observations N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
  5. 5. 5 Multifamily Insiders | Demo Day Resources 09/2022 Reference - Additional Questions for Specific Technology and Service Types One of the biggest challenges in evaluating a potential technology solution is simply knowing what questions to ask. The constant innovation throughout the prop tech space can make true comparisons between suppliers difficult. Below, you will find suggested questions to provide product-specific insight during supplier meetings. These questions are grouped by service type for quick reference. Prospect, Applicant, & Future Resident Management ALWAYS define the workflow cutoff between this technology, other in-use application technologies, and the core PMS. CRM, Chatbots, Lead Nurturing • Which sources route through the service? Ex. web forms, chat requests, emails, calls, SMS, ILS leads, etc. • What views are available to see communications from prospective residents, current residents, and suppliers/corporate? o Is the necessary action step clear? o Are agent assignments fair and visible? • How are hang-ups, repeat callers, and individuals with existing guest/resident records identified? • Which calls are recorded? Ex. incoming voicemails, incoming answered calls, outgoing calls, transferred calls, etc. • Does AI identify and interpret natural language? • How are questions handled when the chatbot does not have an answer? o When is contact information gathered? o Can unanswered questions be collected and used to train the bot for future questions? • Do calendars, appointments, tours, unit availability, and pricing all sync with the PMS quickly? • How can follow-ups be automated, branded, and customized by varying contact types, properties, lead or lease statuses, lease types (student/affordable/market), timing or schedule, or other options? • Can personal follow-ups be prompted, scheduled, and auto completed when corresponding action is taken? • What customization and branding options are available for email and SMS communication? • At what point are leads integrated to the PMS? o What specific information or call-to-action is included? o How are technology-nurtured leads flagged to prevent duplicate personal follow up? • Are views and reports available at the portfolio level without affecting load times? • How is lead attribution and lead journey tracked and represented? Self-Guided Tours • Do self-guided tours have their own scheduling options and availability? o How are concurrent tours prevented if self-guided and agent-guided tours are both being scheduled? o Is pricing and availability pulled from integration, website scraping, or manually updated? • What equipment is required? o What does it interface with? Ex. unit, gate, garage, amenity, building, or elevator access o Can smart lock equipment be moved between vacant units? Ex. if only some units have smart locks • Are unique access codes given to each prospective resident for exterior and unit access? o Are the unique codes GPS-enabled, time-enabled, or both? • What customization options are there? Ex. Branding, directions, unit numbers, amenity walk-throughs • Is ID verification built into the self-guided tour platform? • Who provides support to prospects having technical issues with self-guided tours? • What notifications exist for tours that are completed, incomplete, or lasting past the scheduled time?
  6. 6. 6 Multifamily Insiders | Demo Day Resources 09/2022 Online Applications, Deposit Alternatives, Application Payment • How is unit availability and pricing determined? Ex. integration, website scraping, manual updates, etc. • Can online application questions and headers be customized? Ex. Some states require additional fee disclosures. • How are occupants, roommates, and guarantors added to and removed from an application? • Where exactly does data from completed applications integrate into the PMS? • Can application, deposit, holding, and/or admin fees vary per floor plan? o How are these fees identified? o Can a primary applicant pay for co-applicant fees? • Is a separate payment processing supplier used? o Does it require an additional sign-up from the applicant? o How is payment shown on the ledger? • How frequently are batches imported to the PMS and distributed to the bank? • Can Earnest Money [refundable deposits/fees] be held separately and easily refunded if denied/cancelled? • How are Deposit Alternatives qualified for, completed, communicated, and updated for lease generation? • At what step exactly is the unit held off-market on the website and in the PMS? • Are waitlist applications available? • Are there workflows and screening available for Applicants without a Social Security Number? ID Verification, Income Verification, Applicant Screening • Are these services integrated into the application workflow or do they require manual initiation by site staff? • Are there controls in place to limit who has access to sensitive information? • Is credit/criminal screening bifurcated? This is a requirement in certain regions • Does the supplier keep up with changing laws in counties, cities, states, and at the federal level? o How are changes communicated? Ex. Federal requirement to exclude bad debt and evictions from screening decisions during set COVID period; some counties require specific instructions and processes for appeal of decision. • What types of ID can be verified? Ex. Driver’s License, Passport, State ID o Is the ID verified against a live photo? o What data points are used for verification? • What types of income can be verified? o Are bank account links offered? o Are paystubs AI-verified? o Affordable – are results returned in a HUD-approved format? • Is supplier support available for applicant questions regarding these services and results? • What is the hit-rate for ID and income verification services? Ex. how many cannot be verified, how many fail, etc. • What is communicated to applicants in cases of failure to verify ID/Income, or denied results for screening? • How are ID verification, income verification, and screening result overrides controlled and restricted? Affordable – Applications & Recertifications • Does the supplier keep up with changing compliance requirements of forms per locality and state? • How can the applicant upload documentation surrounding income, assets, household information, etc.? • Are there ways to complete application reviews, verifications, and notifications through the technology? o If errors are made on completed applications, how can forms be corrected? o How detailed is available tracking information for changes and letters? • Does the supplier offer compliance reviews? o In which states and for which certifications? o What is the turnaround time? • Do affordable waitlists follow housing authority requirements and allow required preferences?
  7. 7. 7 Multifamily Insiders | Demo Day Resources 09/2022 Student – Roommate Matching, Bulk Unit Assignment • What school, term, degree, and enrollment information can be collected? • Are roommate-matching questions customizable? When answered, is data readily visible? • Are roommates self-matched, auto-matched, or manually matched? o Can existing matches be manually overridden? o How are matches integrated with the PMS? • How do pending unit/room/bed assignments affect availability reporting? • Can existing residents be invited to roommate-match when there are changes in occupants? • Can unit assignments be made in bulk? o How is this communicated to students? o What steps are needed for unit assignments and rental rates to populate on leases? • Are controls or waitlists available to identify and/or prevent over-leasing? Mixed-Use Communities & Leasing for Short-Term or Corporate Rentals • Can different application types be utilized at the same community? Ex. Affordable, Market, Student, Corporate • How are units identified that can be leased with varying types and terms? • How can an application be converted between lease types? • Is there an online application and screening process for Corporations? o Can occupants of corporate units be added/removed easily? o Do occupants of corporate units require screening under the full policy? • Are separate deposit and fee schedules available for short-term leases? Move-In Services • Can a move-in checklist be customized? • Can a move-in checklist vary by lease type and/or unit type? • What information is collected vs. what information is verified? Ex. utility account number, proof of income • Are there requirements to sign up for a supplier-specific partner utility, insurance, cable, or internet company? • Is there a true integration with other technology suppliers needing account creation for move-in, or does the move-in checklist only provide a website link? Ex. Smart Home, cable company, renter’s insurance, etc. • Where can residents/site staff see exactly what steps are outstanding? • Are there automated reminders for outstanding items for both applicants and site staff? Lease Generation & Signing • Does the supplier keep up with changing lease requirements per locality and state? o How are changes communicated and implemented? o Does the supplier offer legal review? • Can lease fields and addendum packets be locked down to prevent overrides? • Can customized addendums be built and signed? • What options are there for Guarantor Agreements, Roommate Release Forms, etc.? • What e-signature platform is used, and does it track enough signature information to hold up in court? • Where exactly does name, unit, rent, and other information pull from the PMS? • Can new leases and renewals utilize the same platform? o Can you generate single documents mid-lease? Ex. Pet addendum, parking addendum • Where can residents/site staff see exactly what signatures are outstanding? • Are there automated reminders for outstanding signatures?
  8. 8. 8 Multifamily Insiders | Demo Day Resources 09/2022 Resident Management & Services ALWAYS be sure contracts include clear-cut PII data confidentiality requirements of any suppliers and subsidiaries. Rent Payments & Payment Processing • Which types of payment are accepted? Ex. ACH, EFT, check scan, debit card, credit card, WIPS (Walk-in Payment System) o How can each payment method be turned on/off depending on time of month? o Can applicants and future residents utilize all payment methods? o If a resident has a set number of NSF payments, can their payment methods be automatically restricted? o Is check scanning available within the resident app or portal? o Who orders and services any physical check scanners? o To whom are payment processing fees billed and at what rate? o Who handles disputes of credit card payments? • Can recurring payments be scheduled? o Are recurring payments only allowed with specific payment types or on specific days of the month? o Are start dates, end dates, and maximum amounts required for recurring payments? o If a resident’s balance exceeds their maximum payment amount, which takes precedence? o Can a resident set up recurring payments to include variable charges? AKA Pay What I Owe (PWIO) o Can roommates automatically split their payment amounts based on charge type or percentage? • Balances and Partial Payments o Where are resident balances sourced? o Are unpaid housing authority/subsidized charges included in the resident balance? o Are residents/roommates allowed to make partial payments towards their balance? ▪ Is this restricted to certain days of the month? Ex. After rent is late • How frequently are payment batches imported to the PMS? o Are payment batches separated by property and do they directly match batches distributed to the bank? o How long does it take each payment method to clear the bank? • How are returns and NSF payments processed and what notifications are made? • Can security deposits be routed to a separate bank account automatically? Some lenders require this • Can refunds be initiated through the original payment methods? Resident Portal, Package Delivery, Concierge, Amenity Booking • In what ways can the resident portal and/or app be branded? • How are residents identified when signing up for their portal? Ex. First name, last name, phone number, and email • When residents update their profile information, does that push to the PMS? • What community announcement and notification options are there? • Can links and additional resources be posted on the portal? Ex. Smart-Home guide, insurance login, local events • How do residents and roommates register for package lockers and/or delivery services? • Will the site staff have access to open package lockers? o Is there supplier support for troubleshooting and disputes? • Will the supplier handle any coordination needs to occur with package delivery services? • What scheduling flexibility exists for amenity booking? Ex. Max concurrent reservations, min/max duration or frequency, approval requirements, cancellations and waitlists, etc. • Can deposits and customizable signature documents be required for amenity booking? • Does this technology allow residents to update their authorization for guest/service unit access? o Is there functionality to check keys in and out for guests with access permission?
  9. 9. 9 Multifamily Insiders | Demo Day Resources 09/2022 Utility Billing (Resident-Level), Resident Statements, Credit Building • Does the supplier keep up with changing utility laws per property type and regionally? Ex. billback % maximums o How are these changes communicated to the property management company? o Who drafts lease language for utility billing methods? • Which utility billing methods are available and how are they selected? • Define the timing of billing cycles with examples: o Which utilities are billed in arrears, current periods, or future periods? o Which usage periods for utility charges match which rent cycles for payments? • How is occupant data, ledger balance, and future charge data received to create resident billing statements? o Are move-ins and move-outs recognized automatically? o Are final utility charges automatically imported to the PMS? o How are resident statements delivered? • Do residents pay the billing company directly or are charges imported into the PMS for payment with rent? • What data is reported to partnering credit institutions? Ex. late payments, balance, write-offs • What does the resident pay for credit-building services? o Is the supplier paid directly or are charges imported to the PMS? • When there are disputes of data reported to partnering credit institutions, who supports resolution? Renter’s Insurance • Can residents purchase required liability and/or property insurance directly through this technology? o Is the supplier paid directly or are charges imported to the PMS? • How are residents invited to upload any existing renter’s insurance policy? o Who is responsible for reviewing the policy for compliance? o How are renter’s insurance policy expiration dates tracked and communicated? • If residents do not provide acceptable proof of renter’s insurance, are they automatically enrolled in a force- placed policy (master policy)? o How quickly after lapse does force-placed enrollment begin? o What is the fee to the property management company and/or resident for this? o Is the supplier paid directly or are charges imported to the PMS? o What liability/property coverage is included? o How is the resident notified of these changes? Maintenance Requests (Resident Side), Emergency On-Call Paging • Can maintenance requests be entered through the resident portal? o Can customized categories and questions be required? o If photos are allowed, where are they visible once uploaded? o Can the Maintenance Team message or call residents via the portal? o How can custom emergency request criteria be displayed? ▪ If criteria for an emergency is met, does the request automatically initiate on-call paging? • Are emergency maintenance calls delivered through an app, direct phone call, voicemail, or live agent? o What steps are taken by the On-Call Technician to acknowledge the call is received? o When a call is initiated back to the resident, how is the On-Call Technician’s personal number protected? o Are incoming and outgoing calls recorded? o Is a corresponding maintenance request automatically created and assigned? o Are additional notifications available? Ex. SMS, email, app notifications • What settings exist for emergency maintenance calls? o How is the scheduled rotation entered for On-Call Technicians? o When a call is not acknowledged, how and when is it escalated to the next contact?
  10. 10. 10 Multifamily Insiders | Demo Day Resources 09/2022 Building and Facility Management Maintenance Requests (Technician Side) • Is this technology fully mobile friendly for all device types? o Does this include source of request, any photo attachments, and permission to enter? o Can request views be sorted by type, urgency, and/or date requested? • Can maintenance requests be assigned to technicians? • Can helpful instructions, policies & procedures, and incident forms be attached by category? Ex. Water intrusion safety procedures and reporting form, tips to fix a water heater, etc. • What supporting documentation can be required for completion? Ex. Comments, photos, time in/out logging • How are requests updated when they are on hold for a replacement part or supplier repair? • Does this technology integrate with any smart lock technology for unit access? o How long does it take to generate the access code? o How long does the access code stay active? • Can suppliers be assigned maintenance requests? o Are different access levels available to give suppliers minimal visibility? o What notifications occur for suppliers? • Is there a location for appliance serial numbers and warranty information to be entered and tracked to the unit? Make Ready Management, Property Inspections & Logs • Is this technology fully mobile friendly for all device types? • For make ready technology, is there a user-friendly view that shows unit occupancy and preleased status, ready and move-in dates, and date scheduling/status for the key steps of the turn process? o Does this update availability and move-out/ready dates automatically from the PMS? o Can the steps be customized by property, floor plan, and/or renovation plan? o How many detailed make ready boards can run simultaneously at a single property while still rolling up to a high-level view? Ex. one for standard turns, one for renovations, one for outsourced turns • What automations can occur for make ready scheduling and notifications? o Can this include any supplier notification of scheduling items? o When dates are updated in the make ready scheduling system, does it automatically update the PMS? o How can unique turns be excluded from this? Ex. extensive repairs from an eviction or water damage • Does the technology include a move-in/ move-out walkthrough process to document photos, tasks, and charges? o How much setup is required to make this effective? o Can ‘shopping lists’ be created for parts required to aid with ordering or inventory? • How customizable are the to-do items on property/unit inspections and logs? o Can templates be created at the company level and copied to properties? o What fields can be streamlined into checkboxes, drop downs, etc.? o Can inspection forms be pre-populated with unit, unit type, and other data? • Can inspections or logs be scheduled and assigned at certain intervals? • What permissions exist to restrict edits to past inspection and log data? • How can dashboards or reporting easily show compliance and completion rates? Smart Home, IOT (Internet of Things), Controlled Access, Key Management, Parking • Regarding general compatibility and installation: o What wiring, wi-fi, lock/handle types, door types, gate types, etc. are compatible with this technology? o Who coordinates property walks, any necessary subcontractor work, and hardware delivery/storage?
  11. 11. 11 Multifamily Insiders | Demo Day Resources 09/2022 o Will a representative from the company be on site during installation day(s)? o Who handles resident notification of installation and initial resident lock/fob/card/remote programming? • Regarding general access options: o Does the supplier offer 24/7 resident support services for access? o Is access automatically credentialed for all adult leaseholders upon PMS move-in and move-out? o Can residents create temporary building, unit, and/or parking access codes for guests? ▪ What restrictions can be placed on this? Ex. code expiration, building only, count of simultaneous codes ▪ Can access for delivery persons be granted for the building only? o Does this technology integrate with any self-guided tour technology to provide building and unit access? ▪ Is the same access code given repeatedly, or is it customized per tour? ▪ How long is the access code active after the scheduled tour? o Are call boxes equipped with video? ▪ Does the call box come with lighting or is additional lighting required? ▪ Is there a mobile app that residents can use with the call box in addition to phone calls or texts? • Specific to smart home/IOT: o Is a central in-unit hub needed for Smart Home/IOT installation? ▪ What theft-prevention measures are there? ▪ Are specific lock boxes, wi-fi boosters, or wall plugs needed? o *How can unit access be gained by property staff in case of emergency? ▪ Does this work reliably during power or internet outages? ▪ What timestamps and user data is recorded for emergency access? o What additional IOT devices are available and compatible with the Smart Home system? Ex. Thermostat, Wi-Fi, leak sensors, in-unit security systems, smart plugs and switches, lighting, etc. ▪ When units are vacant, what can be controlled remotely or on a schedule? ▪ When units are occupied, who has control and/or visibility of IOT devices? • Specific to physical key management systems: o What happens when keys are not returned? ▪ Are there automated notifications and escalations? ▪ Can this timing be customized based on the reason keys are checked out? o How do power or internet outages affect system functionality? o How many keys can be checked out at once with physical key management systems? ▪ If keys are accessed for supplier use, can the name of the supplier be recorded? • Specific to parking management systems: o Who handles property, garage, or lot walks for evaluation? o Is the parking management system configured for only gate/garage access, or does it include parking space and/or vehicle monitoring? ▪ Is parking lot re-numbering necessary if assigned spaces exist? ▪ What sensors or cameras need to be installed? ▪ What access options will residents be given? Ex. pin-pad, blue-tooth capability, fob, remote, sticker o Do parking assignments integrate with the PMS? ▪ Can residents add/remove parking options through this system? Ex. carport or garage space ▪ Can residents add/remove vehicles through this system? o What vehicle information is required for registration? o What options are there for guest parking spots and guest access to gates/garages? o Are license plates automatically read and referenced to the resident records? o Are towing companies automatically notified of certain violations? ▪ What parameters or exclusions can be set on this? ▪ Is this functionality only available with specific towing companies?

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