The most frequently asked questions we get at Funnel, all in one place.
What is Funnel?
At its core, Funnel is a CRM and automation platform for multifamily operators. Funnel is a single platform that manages renters from inquiry through renewal. This allows operators to insulate their business with AI and automation, save time and reduce costs by centralizing operations, and mitigate staffing concerns.
Why do people choose Funnel?
What does “renter-centric” mean?
Renter-centric is the philosophy that renters are the most important and valuable part of your business. There are 3 components to it at Funnel: 1) the core architecture of our software, meaning that for each renter there is only one guest card, no matter what. This is because our software is built with the individual renters (not the property) as the source of truth. 2) It’s also coded into our company ethos that nothing is more important than the renter. And finally 3) all of our products are focused on serving and improving the renter journey, nothing else.
What’s unique about Funnel?
Funnel’s single guest card renter-centric architecture is a core defensible differentiator for the software platform. We are also fortunate to call 8 of the 25 largest owners and managers in the multifamily space partners. Today we are the only true Renter Management Software.
Are you a Property Management Software (PMS)?
No, think of a PMS as intended to handle all the property-specific functions (accounting, ledgers, maintenance), but we do integrate with all major PMSs (Yardi, RealPage, Entrata and more so you’ll never have to give up the parts of their platform you rely on). Funnel’s Renter Management Software (RMS) platform, which is centered around the core CRM and automation solutions, takes care of all renter-facing (prospects through residents) business functions from listing on ILSs, to initial inquiry, to the full leasing journey, onboarding, resident tools and finally renewals.
What’s the difference between Renter Management Software and Property Management Software (PMS)?
PMSs were initially developed as accounting software (what they’re best at), and then eventually had renter-facing functionality added onto them. A PMS is architected around the properties, which presents challenges, and shortfalls with clean data management. Renter Management Software is architected around the renter as the source of truth. Renter Management Software takes care of front office business needs from listing, to initial inquiry, through leasing, resident onboarding, and renewals.
Tech Stack + Integrations
Will Funnel work with my current tech stack?
Yes, we believe the multifamily industry moves forward when tech providers work together. Our platform is optimized to connect with all your favorite tools. Please visit our integrations page for the full list.
What PMS do you integrate with?
Funnel integrates with all major property management software providers, including Yardi, Entrata and RealPage, to see our full list of partners please visit our integrations page.
Funnel + Current Multifamily Market
What does centralization mean?
We define centralization as any effort to move away from individual property-based leasing and operational teams and move toward a new more efficient opening model to improve efficiencies and reduce costs. You may call it role specialization, standardization, or automation.
What is the new operating model?
The new operating model is the need for multifamily property management companies to run with greater efficiency through role specialization, centralization, AI, and automation. Which in turn provides the best experience for renters.
How do I know the old/current operating model is broken?
The symptoms of the broken model include: properties can’t stay staffed. Talent retention is a constant struggle for operators. Plus, with the old operating model, business operations are built around the constraints of property-centric software solutions that make data transparency impossible. Renters are unhappy and it takes far too long for them to get meaningful responses. The feedback is clear: this isn’t working. Clear career pathing is provided by role specialization, alongside leveraging AI and automation to give teams a hand AND allow operators to run their business with greater efficiency.
Can I really get my leasing agents to adopt Funnel?
Leasing professionals quickly come to view Funnel as their new work BFF. Our AI and automation take many routine tasks off of their plate, schedule tours on their behalf, and create workflows so that they can either focus on taking care of high-value follow-up or excellent in-person customer service. Our new MyQueue dashboard prioritizes tasks for agents (based on management company settings) so that new agents can hit the ground running from day one, taking care of the most important tasks fast.
Essex realized 35% time saved after adding Funnel, and Camden gave their teams Sundays off, creating better work-life balance and less burnout for your valuable team members.
Will AI just replace my team?
AI will amplify your team’s impact. AI is geared for timely responses (even after hours), and answering routine frequently asked questions. This will free your teams to focus on the high-value portions of the renter journey that AI doesn’t do well: staffing tours, answering very detailed questions, as well as building relationships with renters and residents.
Will AI devalue our brand experience?
Consumers expect self-service, streamlined, and helpful shopping experiences. Finding their next home is no exception. AI provides the instant answers that renters demand, plus AI delivers brand consistency at scale. While it can take a lot of training to build a branded experience with your human leasing team members, AI will provide on-brand answers no matter the time of day or night. (Plus, our data shows that on average AI handled leads tour at a higher rate, which allow their teams time back to deliver a better brand experience.)
I'm constantly turning over staff and dealing with staffing shortages, how can Funnel help?
After leveraging Funnel, Essex Property Trust realized 35% time savings, and on average when leveraging Funnel’s AI solution properties save 4.7 hours per week. Staffing shortages are happening because teams are stretched thin, and burned out. Funnel’s robust solution is the helping hand teams need to take care of the follow-up, scheduling, and routine tasks that are thrown their way. This frees onsite teams to focus on high-value interactions and the parts of their job they love. Read more about how Camden insulated their business from staffing challenges by leveraging Funnel to take Sundays off.
Funnel seems great, I just don't have the bandwidth to change now.
Any change worth making takes some time and energy. However, the multifamily industry is poised at the brink of a huge shift: operators are plagued with staffing challenges, rising costs, and sinking demands. To keep business margins healthy they’re moving to a new operating model which is powered by role specialization, centralization, AI, and automation. Early movers earn a huge advantage.
What’s the ROI?
How can Funnel help with softening demand and weaker markets?
Funnel’s renter-centric architecture, AI, and automation ensure that your team can work smarter, not harder. Because there is only ever a single record for each renter there is no duplicate follow-up from team members at separate communities. This architecture when layered with our AI solution is your leasing team’s new BFF, saving them time, and ensuring that every lead is nurtured in a meaningful conversational way.
My occupancy is already high, how can Funnel help me?
Respectfully, occupancy isn’t the only indicator of business success. Funnel can help your company operate with greater efficiency, garnering better overall margins despite consistent occupancy. Additionally, if you have long-time renters who love your brand, you can begin recognizing this and building a loyalty program with Funnel’s renter-centric architecture that is impossible to achieve in other property-centric solutions due to the inherent data duplication that plagues that software structure.
What results have companies experienced after adding AI and automation?
Funnel partners who added AI, and automation gave their teams a hand by allowing them to focus on high-impact activities while automating many of the administrative tasks. This created a self-service apartment shopping experience for renters allowing them to get their questions answered and tours booked. With Funnel, Cortland saw that 69% of their tours booked with automation were booked after hours.
What results have companies experienced after centralizing?
Funnel has been lucky enough to partner with some of the leaders in centralization. After adding Funnel and centralizing our partners have realized $4-5 million saved on a full-year basis (Camden Property Trust) and 35% task time saved (Essex Property Trust).
Who is Funnel for?
How do I know if Funnel is the right fit for me?
Funnel opens unique flexible operating models you cannot find with any other platform. If you’re using Yardi, RealPage or Entrata PMS and are interested in reducing costs, improving efficiencies, employee retention, and providing the best experience for renters you should talk to us.
We are not an NMHC Top 50 account, can Funnel still help us?
Funnel works with property management companies with more than 2,500 units, we are equally experienced in helping both mid-sized and large companies operate with greater efficiency and transform their business.
Why should I buy Funnel?
All of the “cool kids” aka 8 of the top 25 multifamily owners are doing it. By this we mean, we work with the leading and largest property management companies across their entire portfolios (plus many smaller ones) and are the only vendor with experience in centralizing operations for multifamily companies.
Who are some of Funnel’s customers?
Funnel customers include MAA, Camden Property Trust, Essex Property Trust, Cortland, LCOR, inc., Morgan Properties, Quarterra, Related, RKW Residential, MACK Properties, Veritas, Madera, and Decron Properties to name a few.
Do you have minimums/are there people you won’t work with? (single-family housing, student, senior)
We work with conventional multifamily property management companies with more than 2,500 units. We do not have a solution to serve single-family housing, student, and senior housing at this time.
Can you just buy Funnel’s AI product?
Our AI solution (our Virtual Leasing Agent) is built to work hand-in-hand with our CRM. Funnel’s solutions build upon the foundation that the CRM sets, and can not be separated.
Can you just buy Funnel’s online leasing product?
Our online leasing is built to work hand-in-hand with our CRM. Funnel’s solutions build upon the foundation that the CRM sets, and can not be separated.
If I’m not centralizing/planning on centralizing, is Funnel right for me?
Funnel is right for operators who want to run their business with greater efficiency – this isn’t limited to centralization. Our CRM and AI solution can provide the foundation for your business to move to a more efficient model with or without moving to a truly centralized model.
Do you work with brokers?
Once upon a time, Funnel was a New York-based company called Nestio. Nestio worked with brokers. Funnel’s solution has changed to service national multifamily property management companies and we no longer work with brokers.
Can I just buy the contact center product?
Our contact center technology is built to work hand-in-hand with our CRM. Funnel’s solutions build upon the foundation that the CRM sets, and can not be separated.
Do I have to use your AI tool if I already have one?
Nope. We believe that multifamily as a whole grows when tech providers collaborate. For a full list of our integrations, including AI providers please visit our integrations page.
Do you offer revenue management?
No, but we integrate with revenue management solutions. Visit our integrations page for more information.
Are you a call center?
No, we offer contact center software that your teams can leverage to answer incoming calls and questions no matter their location. This gives operators the flexibility needed to staff strategically and take some tasks offsite to specialized teams if desired.
We are a third-party manager, how will Funnel work for us?
We work with several large third-party managers including BH and RKW Residential, they are creating a consistent renter experience and running their businesses with greater efficiency with Funnel.
How many other customers does Funnel have? What are they saying?
Read what our customers think of Funnel on our website.
I'm ready to demo, who on my team should I include?
Ideally, anyone who will be involved in making a software decision or whose teams will be impacted. Typically this includes decision-makers from operations and marketing and may involve leadership and IT.
Roll Out + Implementation
How long does it take to roll Funnel out?
We can go as fast as you’re comfortable. After the initial implementation steps where we customize based on your preferences, we’ll schedule waves to roll the software out to your portfolio in groups of properties.
Pricing compared to other tools?
Our products are priced significantly less than competitive point solutions that our platform covers, and are very competitive with bundled pricing at the major PMSs.
Can I have a sandbox?
In some cases, we can offer an opportunity to touch the software yourself. Schedule time for a demo to learn more.
I want to get my hands on the software, how do I do that?
Our ever-increasing library of demo vignettes should answer most of your questions, but schedule a demo to learn more.
What does training look like? Do you offer training? Can you train our teams?
Our in-house training department can both “train your trainers” and train your teams directly during implementation. We also have a vast library and resources for your teams with walk-throughs, videos, tips, and tricks that are available to all customers.
How long does it take to implement?
Typical implementations take around 60 days for the initial wave of properties and subsequent waves go much quicker.
What does implementation look like?
Our team is excited to work with you! Upon project kickoff, you’ll receive a dedicated Implementation Manager for the duration of your onboarding process, which can last anywhere from 6-10 weeks depending on the size of your portfolio and product selection. Our implementation team will ensure that Funnel integrates seamlessly with the rest of your tech stack and that the platform is configured and tailored to your unique business needs. We’ll provide you with a project plan, regular check-ins, and a training schedule so your team can hit the ground running.
What kind of support do you offer?
Funnel clients have their own designated customer service managers who champion their success on the Funnel platform, we also have a robust library of resources to help answer questions, and training resources to bring any new team members up to speed.
Who do I go to for help?
Funnel clients have designated customer service managers who champion their success on the Funnel platform. Once you’re a client, your CSM is your go-to contact at Funnel. We also have a robust library of resources to help answer questions, and training resources to bring any new team members up to speed.
Take care of your team and renter needs from inquiry through renewal.
Learn how Funnel transformed the renter experience for leading multifamily management companies.