Discover the top-rated
multifamily vendors

3 days ago

The Data Behind Reviews: Why They Matter & How to Get More

Want more visibility and faster sales? Learn why reviews are essential and how to turn them into a competitive advantage. Multifamily buyers don’t just take your word for it. They want proof. Reviews are the most scalable form of word-of-mouth, helping owners and operators evaluate solutions with real feedback from their peers. That’s why a strong review strategy is essential. Without one, you risk losing deals to competitors who consistently showcase customer success. Let’s examine the data behind how reviews influence software buying decisions - from better conversion rates to accelerating sales cycles. Plus, we’ll cover proven strategies for generating reviews and how Revyse is recognizing the products multifamily buyers trust most. Reviews: The Data StoryReviews → Increase Buyer Confidence & Speed Up Decision-Making When multifamily buyers trust a product, they move through the sales funnel faster. And what builds that trust? Peer validation. 📌 Key Stats: 85% of buyers say independent sources like review sites influence their decision more than a vendor’s own content and 60% of B2B buyers say reviews are essential when evaluating a purchase. 78% indicate that the more expensive the product, the more reviews they read. 75% of software buyers say reading reviews is important before making a purchase, and 66% prefer reviews to be verified by a third party. Why This Matters for you: Buyers research independently. If they can’t find strong reviews, they’re less likely to engage. Reviews reduce friction and lead to faster shortlisting. And how do you get onto the shortlist? 53% of buyers indicate that reputation and industry prominence is the most influential factor when selecting vendors. When owners and operators see proof of success from their peers, they have fewer objections and move forward with more confidence. 🔹 Takeaway: If reviews aren’t visible during the research phase (still the longest phase of the buyer journey for a third of buyers), buyers hesitate, slowing down your sales cycle or moving on to a competitor. And the average sales cycle is already long, with 44% of buyers taking more than six months to evaluate, select and purchase software. Reviews → Boost Visibility & SEO Customer reviews don’t just build trust. They also increase search rankings, drive organic traffic, and improve discoverability across multiple platforms. 📌 Key Stats: Google prioritizes businesses with high-quality reviews, considering review volume, frequency, and sentiment as ranking factors. Continuously receiving and showcasing user-generated content, like customer reviews, will see more favorable ranking in search results. 53% of all trackable website traffic comes from organic search-meaning reviews help build trust and authority on Google. ➤ ICYMI: Thousands of multifamily vendors use the Revyse Marketplace to boost their Google Search traffic. Hundreds of them also benefit from having verified reviews appear directly in search results, thanks to schema markup. Why This Matters for You: More reviews = better rankings. A steady flow of customer reviews on verified third-party websites signals credibility and relevance to search engines, helping you appear higher in results when buyers are searching for solutions. This means that the more reviews you have, the easier it is for multifamily buyers to find your product on Google, Revyse, and other comparison platforms. 🔹 Takeaway: A consistent stream of reviews is a proven strategy for improving SEO, traffic, and conversion rates, making it easier for buyers to find and trust your solution. If buyers can’t find you, they can’t buy from you. Reviews → Improve Conversion Rates at Every Stage Customer reviews (and review responses!) don’t just influence final decisions, they can increase conversion rates at every stage of the sales funnel. 📌 Key Stats: 57% of buyers expect to see ROI within 3 months. If reviews don’t validate quick results, they move on. 88% of customers are more likely to buy from a company that replies to its reviews, both negative and positive. Most B2B buyers look for four things in reviews: product quality (68%), ease of use (62%), cost effectiveness (53%), and product security (53%). Why This Matters for you: Buyers trust reviews and they’re referencing them at every stage of their journey. The more third-party customer validation you have, the more legwork you’ve done before even meeting with the prospective buyer. Your reviews have done that initial talk track for you. And we all know that a shorter sales cycle means more revenue, and faster decisions mean higher deal velocity. In a competitive market where buyers are watching every cent and shortlists are getting shorter – 1-3 vendors versus 4-7 last year – why wouldn’t review generation be a critical part of your sales and marketing strategy? 🔹 Takeaway: If you want to shorten your sales cycle, let your customers do the selling for you through frequent, verified reviews. To learn more about the factors impacting software investment, what software buyers need to move forward in the purchase journey, and how reviews play a critical role in software selection, check out Gartner’s 2024 Global Software Buying Trends Report. So, What’s Next? Build a Continuous Review Generation Strategy Collecting reviews isn’t about asking once and hoping for the best. It’s about creating an ongoing, repeatable strategy. 📝 Review Generation Checklist🔲 Ask at the Right Time After a successful implementation. When a customer renews or expands services. After solving a pain point or delivering great support. 📌 Pro tip: Use automation tools to trigger review requests at these key moments. 🔲 Make It Effortless Send direct links via email, SMS, or QR codes. Keep it simple. The fewer steps, the better.  Automate reminders because even happy customers forget. 📌 Pro tip: Revyse’s built-in tools and Review Campaign add-on service make requesting and collecting reviews seamless. 🔲 Consider Ethical Incentives Exclusive content or training. Early access to new features. Customer spotlights featuring top reviewers. 📌 Pro tip: Avoid paying for reviews. Buyers trust organic feedback over forced testimonials. 🔲 Keep It Ongoing Integrate review requests into onboarding, check-ins, and renewals. Use automated email sequences to follow up. Engage with every review. Buyers notice when you are actively involved. 📌 Pro tip: Don’t just ask one time! Everyone is busy and most don’t mind a follow-up or two. Check out these 22 ways to ask for reviews by WordStream.  🏆 Then, Get Recognized: Introducing Revyse’s Best of Category Awards We’re celebrating vendors (that’s you!) who multifamily owners and operators most rely on and recommend. Unlike other awards, our program is not pay to play, and is specific to multifamily.  Winners will rise to the top based on the stats: total reviews + highest average star rating of 4.0 or higher - selected by overall love, standout support, and unbeatable value. All criteria we include in our verified review forms. 📌 To be eligible, your product listing on Revyse must: ✅ Be claimed and active ✅ Include your logo and a description ✅ Have at least 5 verified reviews racked up within the last 12 months Revyse will celebrate three exceptional vendors in 12 defined awards categories, with up to 36 awards recognizing standout performers. Click here for more details on the 12 awards categories included. And now to the goods….what do you get if you win? Besides bragging rights for an entire year, we’ll provide you with a toolkit of promotional assets to show off your win plus boosted visibility on the Revyse website. Check out the entire Toolkit here. Want in? Claim and activate your Revyse Marketplace product listing and start collecting reviews today!

12 days ago

Your Playbook for Vendor Compliance: Why it Matters and How to Master It

Learn why vendor compliance is critical for multifamily, how it mitigates risk, and how to implement an effective compliance program.  Ah, compliance. It’s the unglamorous but absolutely critical backbone of running a successful multifamily operation. Think of it as the seatbelt that keeps your communities, and your reputation, safe in an industry where regulations, cybersecurity threats, and vendor risks are constantly evolving. Need proof? Over the past year, state lawmakers mulled over 150+ bills tied to rent control, 70+ bills on resident screening practices, and 60 more on fee regulation, according to NAA’s State Legislative Tracker (via Multifamily Dive). Meanwhile, the SEC is now calling for public companies to disclose cybersecurity measures for third-party vendors. Bottom line? The compliance landscape isn’t slowing down, and staying on top of it is a big headache for multifamily leaders. In fact, 61% of property management pros cited staying compliant with changing regulations as a top challenge in NAA’s 2023 Pulse Survey. It’s a lot to manage across multiple communities, states, and regulatory frameworks. But ignoring compliance isn’t an option. That’s where a vendor compliance program comes in. This guide provides a closer look on why vendor compliance matters, the risks of overlooking it, and the steps you can take to make compliance a manageable part of your operations. TL;DR: Compliance isn’t just a box to check. It’s a strategic advantage. A scalable, integrated vendor compliance program protects your communities, reduces risks, and saves money by streamlining operations and avoiding you costly legal issues. By leveraging a vendor lifecycle platform like Revyse, you can centralize compliance, automate workflows, and make risk management a seamless part of your operations. What is vendor compliance and why you can’t ignore it At its core, vendor compliance ensures your partners (think maintenance providers, laundry services, digital advertisers - you name it) meet your internal policies, safety standards, and legal/regulatory requirements. Non-compliance isn’t just a legal hiccup. It’s a business risk. Failing to vet and monitor your vendors can lead to: Operational Disruption: Think delayed repairs or services that inconvenience your residents. Legal Blowback: Fines, lawsuits, or worse. Reputation Hits: Lose trust with residents, investors, and stakeholders, and you’re playing a long, uphill game of damage control. Why vendor compliance is a must-have Let’s break it down: Risk Mitigation Every vendor relationship introduces potential risks, from cybersecurity breaches to unsafe practices. By establishing a compliance program, you’re proactively identifying and managing these risks before they spiral. Case in point: 35% of executives flagged third-party breaches as their top cyber concern in PwC’s 2025 Digital Trust survey. And with the average global data breach topping $3 million in costs, vendor compliance is a no-brainer SOP. Operational Efficiency  Managing hundreds of vendors across multiple properties is messy. But a compliance program adds structure, clarity, and consistency. Deloitte found that integrating risk management activities into compliance programs not only eliminates redundancy but also boosts operational efficiency portfolio-wide. Cost Control Skipping compliance checks might feel like a shortcut, but it’s a costly gamble. Fines, disruptions, and inefficiencies pile up fast. According to NAA’s survey, 41% of property management professionals called out rising compliance costs as a major pain point. A proactive compliance strategy saves you money in the long run. How to build a scalable vendor compliance program Ready to get serious about vendor compliance? Here’s your roadmap: 1. Do Your Homework Start with due diligence. Evaluate every vendor’s credentials, certifications, and track record. Key steps include: Running background checks and security assessments. Verifying key compliance docs (i.e., COI, OFAC, TIN). Leveraging reviews and platforms like Revyse to gather insights. 2. Define the Rules of the Game Clarity is key. Set compliance expectations in every vendor agreement, covering: Service-level agreements (SLAs) with measurable benchmarks. Safety, data handling, and ethical standards. Clear consequences for non-compliance. This creates a foundation of trust and accountability across the board. 3. Categorize Vendors by Risk  Not all vendors are created equal. Consider plumbers. Replacing a main line carries inherently more risk than changing a faucet. Use a tiered system to prioritize your efforts: High-Risk Vendors: Those handling sensitive data or critical services. Low-Risk Vendors: Those providing routine or low-impact services. And everything in between. Focus your compliance energy where the stakes are highest. 4. Streamline Onboarding and Training Make it easy for vendors to align with your policies. According to Deloitte’s Global Procurement Survey, 61% of leaders said boosting supplier collaboration was key to delivering value. Practical tips include: Offering mobile-friendly tools for document uploads and e-signatures. Providing training resources to educate vendors on your requirements. Keeping communication lines open for questions and feedback. 5. Monitor and Audit Continuously Compliance isn’t a one-and-done deal. Regularly audit vendor performance, check certifications, and address lapses in real time. 6. Use Technology to Scale Managing compliance manually is like trying to hold back the tide. An all-in-one platform like Revyse can simplify the process with: Centralized contract and compliance management. Automated onboarding workflows and reminders. Custom dashboards for real-time monitoring. Compliance as your competitive edge Vendor compliance isn’t just about avoiding fines or ticking boxes; it’s about building a foundation of trust, efficiency, and resilience in your operations. A proactive compliance program safeguards your communities and sets you up for long-term success in an increasingly complex regulatory landscape. With Revyse, turn compliance into a strength. Our multifamily platform centralizes compliance and risk management, saving you time, reducing headaches, and ensuring you stay on the forefront of evolving rules and regulations. Let’s talk about how Revyse can simplify vendor compliance for you and your team.

14 days ago

A Day in the Life: How Automated Contract Workflows Simplify Vendor Management

Stay on top of contract management with automated renewal reminders, proactively obtaining approvals, negotiating better terms, and saving time. It’s 8:00 AM, and the coffee is just starting to kick in when your inbox reminds you why Mondays are a test of endurance. The subject line? “URGENT: Vendor Contract Expires Tomorrow.” A quick scan reveals that it’s a maintenance vendor whose contract auto-renewed last year on less-than-ideal terms. As a procurement leader in multifamily, this isn’t new. Your vendor network consists of hundreds of active contracts per community, and juggling their contract renewal timelines can feel like an insurmountable task. Yet, falling behind means more than a stressful start to the week. It means missed opportunities to negotiate better pricing, to expose compliance risks, and higher operational costs. But what if this day could go differently? Let’s rewind and imagine how automation reshapes your day and your results. The Typical Workflow: Reactive & Time-Consuming A typical day in vendor management is a balancing act, juggling urgent issues and tedious manual tasks:  Morning: Scrambling to locate the most recent contract or addendum and decipher its renewal terms. Midday: Coordinating with finance and operations to decide on a renewal approach—all while trying to squeeze in an understanding of that vendor’s performance over the prior term. Afternoon: Responding to emails from legal about other expiring contracts, sneaking in a quick look at potential cost-saving opportunities, and ending the day knowing you’ve postponed portfolio-wide strategies yet again. By the end of the day, you’re stretched thin, and you’re no closer to finding the time to take a proactive approach to your vendor relationships. Reimagining the Day: Proactive Decision-Making Now, let’s rewind the clock and see how your day plays out with an automated contract workflow in place. 8:00 AM: You log into your vendor management platform, and a dashboard view greets you with the information you need–total contracted spend, number of contracts, number of vendors, credits versus expenses, insights by department, and all of your upcoming renewals. Renewal reminders that were surfaced weeks ago gave you time to assess vendor performance and benchmark costs. The maintenance vendor whose contract renews tomorrow? You’ve already renegotiated better terms. 10:00 AM: A centralized system allows you and cross-functional team members to access all vendor data in one place, eliminating time spent tracking down contracts or waiting on colleagues for information. By mid-morning, you’ve reviewed key vendor metrics and identified an opportunity to consolidate redundant services, unlocking potential savings. 1:00 PM: Automated workflows ensure that all stakeholders—finance, legal, and operations—are already looped in and aligned on renewal strategies. No frantic email threads, no last-minute fire drills. 3:00 PM: With the grunt work handled by automation, your team focuses on value-added initiatives, like exploring new suppliers or negotiating terms to reflect current market conditions. 4:30 PM: The day wraps up, and you leave the office knowing that your renewals are not just managed—they’re optimized. How Automation Transforms Your Vendor Management Strategy By centralizing data and automating reminders, you can: Stay Proactive: Address renewals early with alerts that free your team to focus on higher-value tasks. Negotiate Smarter: Use insights to assess performance and secure better terms. Boost Efficiency: Replace manual processes with strategic initiatives. The results speak for themselves: Lower Risk: Mitigate liability by tracking and ensuring compliance across vendors. Cost Savings: Save an average of $200 per unit annually by reducing inefficiencies and shadow spend. Improved ROI: Reallocate time and resources toward growth opportunities. How to Get Started If your current processes feel reactive, it’s time to embrace change. Audit Your Contracts: Understand your portfolio and identify opportunities. Adopt Automation Tools: Adopt all-in-one platforms like Revyse to simplify and automate your contract renewal reminders. Engage Stakeholders: Align finance, legal, and operations teams early. Measure Impact: Track savings, efficiency gains, and vendor performance to refine your approach. The Bottom Line Managing vendor contracts doesn’t have to feel like running on a hamster wheel. With automated workflows, your team can save time, reduce costs, and focus on delivering exceptional value to your communities. Schedule a demo to see how Revyse Contract Management can adapt to your unique business needs and start saving you and your team time right away.

14 days ago

6 Tips to Avoiding Vendor Sprawl in Multifamily

Prevent inefficiencies and rising costs from vendor sprawl. Explore 6 actionable tips to streamline multifamily vendor management. Managing the vendor ecosystem across hundreds of properties is increasingly complex, with overlapping services, overpriced agreements due to sneaky auto-renewal clauses or hidden fees, and underutilized or redundant software driving up costs and inefficiencies. Vendor sprawl isn’t just inconvenient—it drags down your operating margins. Through October 2024, U.S. market-rate property expenses rose 4% year-to-date, according to the National Multifamily Report by Yardi Matrix, and though labor and maintenance costs have moderated somewhat, improving operating efficiency to keep costs down remains a priority for owners and operators. An area for opportunity? Vendor management. Rogue or unauthorized property-level spend, technology sprawl, and shadow IT create corporate challenges that go beyond budgeting: challenges you may not even know you have. Below, we’ll unpack how you can take [back] control of your vendor ecosystem and maybe even uncover hidden savings along the way. Vendor Sprawl 101: Why It’s More Than a Budget Problem First, a quick reality check: vendor sprawl isn’t just about wasted dollars (though, let’s be honest, that’s a huge part of it). It’s also about operational headaches, siloed data, and risk. Here’s what vendor sprawl looks like in multifamily: Redundant services: Different teams or properties buying the same thing/service, but from different vendors, creating duplication at the portfolio level. Scattered contracts: Tracking renewals? Good luck when the details, if found, are buried in someone’s inbox or hidden in the depths of Sharepoint. Tech overload: Products/tools that solved a problem in time, but aren’t needed long-term, and are now not being used. Shadow IT: Surprise software and application purchases made by teams or properties that you/your IT team didn’t sign off on. Fragmented relationships: Without a clear view of vendor performance or accurate vendor data, negotiating better deals is next to impossible. Left unchecked, vendor sprawl is like a slow leak in your budget: it may not seem urgent, but it adds up fast. That’s why understanding the problem is step one. 6 Tips to Simplify Vendor Oversight Ready to tackle vendor sprawl head-on? Here’s how to do it: 1. Take Stock of Every Vendor You’re Using You can’t fix what you can’t see. Start by creating a full inventory of your vendors, from PMSs and maintenance services to marketing tools and leasing applications. Map out what they do, how much they cost, and which properties or teams are using them. Why it matters: This big-picture view helps you spot redundancies, outdated contracts, and tools that are no longer relevant. You need this baseline to know where to start trimming the fat. Pro move: Use a vendor management platform to track it all in one place – manual spreadsheets won’t cut it for the long haul. 2. Audit Your Vendors for Performance Now that you’ve got your list, it’s time to dig deeper. Are certain vendors barely used? Are some services delivering more headaches than value? Chat with your teams, and across properties, to find out what they rely on daily versus what’s collecting dust. Why it matters: A vendor audit helps you identify which partners are driving value, which are falling short, and which vendors could be leveraged across different properties or areas of the business. It’s your chance to stop paying for what you don’t need. Pro move: Check KPIs—like response times for service providers or usage data for software—and see if they match your expectations. 3. Centralize Your Contracts If your vendor contracts are scattered across inboxes, filing cabinets, and spreadsheets, you’re not alone. Centralizing these documents into a single source of truth gives you full control over vendor-related decisions, enabling you to negotiate proactively. Why it matters: Storing your vendor information in a single repository gives you visibility to make data-based decisions and the transparency to allow for cross-department collaboration so you can make faster, more informed budget decisions. Pro move: Use a contract management tool that integrates seamlessly with your other vendor management processes to keep all information secure and searchable. 4. Cut Redundancies and Negotiate Better Deals Too many property-level vendors offering the same service? It’s time to consolidate. Combining agreements under a smaller number of vendors strengthens your bargaining power, simplifies oversight, and reduces your risk. Why it matters: Fewer vendors = better pricing, less admin work, and fewer opportunities for things to fall through the cracks. Pro move: Negotiate portfolio-wide contracts with tech providers like marketing or property management solutions and regional contracts with on-site vendors like landscaping or elevator maintenance. 5. Automate Contract Renewals Missed renewal deadlines lead to auto-renewals that can lock you into pricey, outdated deals. Automate reminders so you have time to review terms and explore alternatives before the deadline sneaks up. Why it matters: Staying ahead of renewals puts you in the driver’s seat, not the back seat. With vendors proposing renewal pricing increases ranging to as much as 30%, and elevator contracts lasting upwards of 25 years, you can’t afford to be reactive to your renewals. Pro move: Set reminders 60–90 days before renewal deadlines in your vendor management platform. 6. Stay Agile with Your Vendor Strategy The tools and services that worked for you two years ago might not be the best fit today. Regularly re-evaluate your vendor relationships and keep an eye out for new solutions that align with your current needs. Why it matters: Agility prevents stagnation and ensures your communities stay both competitive and efficient. Pro move: Regularly evaluate alternative vendor partners based on performance, price, functionality, service terms, safety and compliance requirements, and flexibility. Take Control Before Vendor Sprawl Takes Over Phew. Managing vendors across an enterprise portfolio isn’t easy. But avoiding the problem only compounds it. Tackling vendor sprawl head-on means smarter spending and a clearer path to cutting costs and improving your operations from sourcing to procuring to managing. Ready to eliminate vendor sprawl and simplify your entire vendor management strategy? Start with these tips—or reach out to learn how Revyse can help.