Entrata Expands into Affordable Housing with New Product to Streamline the Rental Experience and Also Launches a First-of-Its-Kind Student Revenue Management Solution

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Feb 08, 2023, 09:03 ET

Entrata Affordable helps property managers streamline the certification and compliance processes and more while Student Revenue Management provides machine learning algorithms to better benchmark community performance

LEHI, Utah, Feb. 8, 2023 /PRNewswire/ -- Entrata, the multifamily industry's leading operating system, today announced the launch of Entrata Affordable as well as a first-of-its-kind student revenue management solution. Entrata Affordable is a new product designed specifically for property owners and managers with affordable housing units, while the student revenue management system provides machine learning algorithms on a bed-by-bed basis to help benchmark performance and optimize pricing strategies.

"Our goal has always been to make the rental experience easier for residents and property managers alike, and with Entrata Affordable, we're able to reach a sector of the rental industry where legacy solutions and approaches just aren't working. Regulations and certification processes have created a complex process for those trying to access, rent and manage affordable housing units," said Chase Harrington, President of Entrata. "While there is no silver bullet solution to solving the affordable housing crisis, our hope is that with this new system, we're able to reduce some of the barriers to entry to affordable housing and create a better way for everyone to find a place to live — no matter their economic circumstances."

Entrata Affordable

Backed by Entrata's comprehensive operating system, Entrata Affordable helps property managers mitigate compliance risks by streamlining workflows and automating tasks throughout the certification and reporting process.

With a national shortage of more than seven million affordable rental units in the United States, there is an urgent need for property managers to bring on new units and more accessible rental opportunities for an at-need population. As property managers enter the affordable housing market, navigating the renter certification process can be a complex and time-consuming process, and, once they are certified, ensuring compliance throughout their program participation adds extra barriers.

Entrata Affordable will be available across the US and will include the following key features:

A "What's Next" Workflow: Navigates property managers and owners through complex processes such as certifications, Housing Assistance Payments requests, Tenant Rental Assistance Certification System files and reporting.
Automatic Income Limits Updates: Automatically uploads HUD and Tax Credits limits, keeping property managers up-to-date on qualifications and rental limits for their affordable housing units.
Annual Recertification Notices: Automatically alerts users of when recertification notices need to be generated for each household — keeping them on top of deadlines and streamlining the process for the operator and renters alike.
Certification Wizard: Easy-to-use interface guides property managers through all the steps to certify households from move-in to move-out — ensuring they remain compliant with the latest regulations.
Verification Workflows: Easily navigate the verification process with tools that help facilitate the authentication of all critical eligibility factors related to affordable housing programs.

Student Revenue Management

A first-of-its-kind solution, Entrata's Student Revenue Management utilizes machine learning to provide optimal rent suggestions on a bed-by-bed basis to help benchmark rates specific to the market in which the property is competing. It also provides real-time data with information tailored to the nuances of student housing.

This solution is designed and built specifically for the unique needs of student operators. To meet those needs, Entrata worked with some of the largest student operators to test the product to address these specialized use cases. Student Revenue Management provides a way to maximize performance and access revenue data like never before.

For more information about Entrata's product releases, please visit www.entrata.com/product-updates.

About Entrata
Entrata is the leading operating system for multifamily communities worldwide. Setting the bar for innovation in property management software since 2003, Entrata offers solutions for every step of the leasing lifecycle and empowers owners, property managers, and renters to create stronger communities. Entrata currently serves over three million residents across more than 20 thousand multifamily communities around the globe. Learn more at www.entrata.com.

SOURCE Entrata