Mobile-First and Industry’s First FinTech Integration Optimized Toolset Allows Completed Leases in Under 10 Mins
Funnel Leasing, the only Renter Management Software platform, announced today that they’re launching their online leasing solution. The solution was developed in partnership with Essex Property Trust, Inc., an S&P 500 company and the 13th largest owner and operator in the country. Essex is a real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties. As an early adopter of Funnel’s new class of technology, Renter Management Software, Essex is all-in on creating an enjoyable apartment leasing experience for renters, while simultaneously streamlining tasks for their team.
“Leasing hasn’t truly innovated in decades, until now,” said Tyler Christiansen, CEO of Funnel. “Essex is a trusted partner with whom we built and beta-tested our online leasing solution. It’s an understatement to say I’m thrilled to offer it to both new and existing clients. We didn’t just take the antiquated process of the application and screening process and make it digital, we revolutionized it. This is the future of leasing for agents and renters.”
Traditional leasing and screening processes are cumbersome for both renters and leasing teams. Renters had to dig up pay stubs or W-2’s to verify their income and submit their social security number for a background check, and then wait (sometimes weeks) to hear back. All while leasing agents were expected to become fraud detectives and to spot inconsistencies across a deluge of documents. On the Funnel platform, renters can apply from their phone in ten minutes or less, and they’re no longer uploading paperwork. Instead, with Funnel’s industry-first FinTech integration 50% of applicants apply from their phones, and of those 60% automatically verify their income by simply using their online banking credentials. Through best-in-class screening tools, leasing professionals are able to rapidly screen applicants, empowering them to make timely, informed decisions.
“We could not be more thrilled about our partnership with Funnel,” said Jessica Anderson, Senior Vice President of Operations, at Essex. “Funnel’s online leasing product has improved our employee and customer experience and contributed to operating margin improvement. Their commitment to creating industry-changing products is second to none, and their consultative approach makes them feel like a natural extension of our Essex team. We’ve received great feedback from leasing agents and renters and are very enthusiastic about the future of the platform.”
About Funnel Leasing
Funnel exists so multifamily operators don't have to pick between antiquated monopolies or single solution challengers. After decades of the status quo, operators are no more efficient, and renters still dread the process of leasing an apartment. We fixed that with a platform that turns the entire business model on its head. Renter Management Software is a new category of connected tools built around the renter. The software delivers a consistent, connected experience from first inquiry through years of renewals. All this while simultaneously saving operators quantifiable money through the smaller, and happier teams that only a renter-centric platform can enable.
About Essex Property Trust, Inc.
Essex Property Trust, Inc. (“Essex”), an S&P 500 company, is a fully integrated real estate investment trust (“REIT”) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 250 apartment communities comprising approximately 60,272 apartment homes. Additional information about Essex can be found on the Company’s website at www.essex.com.
Alex Howe, VP of Marketing