How Can CRE 'Open The Door' To Greater Tech Adoption?
Inside the tools reshaping real estate—and how Charney used Venn to lease faster and operate smarter.
Inside the tools reshaping real estate—and how Charney used Venn to lease faster and operate smarter.
Inside the tools reshaping real estate—and how Charney used Venn to lease faster and operate smarter.
Excerpt from Biznow article. Read the full article here.
Charney Brokerage President and Chief Data Officer Andrew Steiker-Epstein said the developer partnered with Venn to create a custom Gowanus Wharf app focused on creating a superior resident experience and streamlining operational processes. Tenants start by going through a full move-in checklist where they can seamlessly book a moving company, reserve the building elevator, sign up for utilities and cable/internet, pay rent, receive their digital keys and more.
“As a tenant, they have access to a social experience, which consists of a variety of community groups. They also have the ability to reserve amenities, sign up for fitness classes, create/RSVP for building and neighborhood events, send maintenance requests and more. We currently have a 98% adoption rate and an 85% engagement rate on the app.” - Andrew Steiker-Epstein, Brokerage President and Chief Data Officer at Charney Companies
Steiker-Epstein said that Charney used Venn to create a custom application for the lease-signing process that allows tenants to go from logging in to the app to lease signing in less than five minutes.
“Our app process allows tenants to sign in directly to their bank accounts and payroll providers to quickly verify income and assets, along with facial recognition to match their ID, and undergo a credit/background check,” he said. “They can do this from their phone.”
Through the use of this app, Charney has noticed a 45% improvement in its drop-off rate compared to the previous processes, he said. The company also uses an AI leasing tool, Zuma, that automatically responds to inquiries and schedules tours by booking slots on its leasing agents' calendars.
“This has increased our tour volume by over 100% and tour conversion by 20%,” Steiker-Epstein said. “In just three months of opening, we've had 1,209 tours.”
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