UDR, Inc., original pioneers of multifamily centralization, partner with Funnel to complete operations revolution across nearly 60,000 units
Rhea-AI Summary
Funnel, an AI-powered multifamily CRM provider, announced a partnership with UDR (NYSE: UDR), the 14th-largest multifamily owner-operator in the United States. UDR will implement Funnel's complete product suite across its nearly 60,000-unit national portfolio, including renter-centric® CRM, AI solution, fraud prevention, ResApp, and syndication services.
As an early pioneer in multifamily centralization, UDR is transitioning to Funnel's unified, omnichannel communication platform to streamline operations and enhance efficiency. The partnership aims to simplify team member workflows through transparent communication routing and AI-assisted task management for activities like tour scheduling, application screening, and inquiry handling.
Funnel currently serves 9 of the top 25 NMHC owners and operators, and UDR becomes the 4th of 6 largest REITs to adopt their technology solutions.
Positive
- Partnership with major industry player (14th-largest multifamily owner-operator)
- Expansion of client base to include 9 of top 25 NMHC owners
- Implementation across large portfolio of 60,000 units
- Fourth of six largest REITs adopting Funnel's solutions
Negative
- None.
Insights
This strategic partnership marks a pivotal moment in UDR's technological evolution and could significantly impact their operational efficiency and market position. As the 14th-largest multifamily owner-operator implementing Funnel's complete suite across nearly 60,000 units, this represents a substantial digital transformation initiative.
The implementation of an omnichannel communication platform integrated with AI capabilities presents multiple value drivers: 1) Reduced operational costs through automation of routine tasks 2) Enhanced lead conversion through improved prospect engagement 3) Streamlined workflow management across centralized and onsite teams 4) Improved fraud prevention potentially leading to reduced losses 5) Better resident satisfaction through faster response times.
From an investor perspective, this technology adoption positions UDR at the forefront of property management innovation. The shift from multiple solutions to a unified platform should drive operational leverage through:
- Reduced software licensing costs
- Lower administrative overhead
- Improved team productivity
- Enhanced data analytics capabilities
The fact that Funnel partners with 9 of the top 25 NMHC owners and operators validates the solution's enterprise-grade capabilities. This implementation could serve as a competitive differentiator in the multifamily REIT sector, potentially leading to improved NOI margins through operational efficiencies and enhanced resident retention rates.
4th of 6 largest REITs rolling out full product suite
UDR is rolling out Funnel's entire suite of products, including renter-centric® CRM, AI solution, fraud prevention, ResApp, and syndication across its nearly 60,000-unit national portfolio.
"UDR pioneered centralization when no multifamily technology solutions existed and we are excited to take this next step with Funnel, a proven PropTech leader in the multifamily industry," said Josh Gampp, UDR's SVP - Chief Technology Officer. "Our team is impressed with both the team and the technology at Funnel. Throughout this process, they demonstrated a true partnership in not only innovation but also a distinct ethos for making our industry stronger for everyone — our shareholders, team members, and hundreds of thousands of residents."
UDR: An original innovator in multifamily centralization
UDR was among the first multifamily companies to move toward a centralized operational model. In the early days of centralization, UDR charted its own path, building in-house tools and partnering with out-of-industry CRMs to solve challenges that multifamily technology couldn't address. UDR has an ambitious vision for continuing its journey to improve centralization, and sought a technology partner to help scale that vision.
"Being selected as the CRM, AI, and renter management software by UDR is a 'Super Bowl' type moment for Funnel," said Tyler Christiansen, CEO, Funnel. "UDR is rightfully recognized as an industry leader in technology and operations. Its selection of Funnel over all available options speaks volumes to where Funnel is today, and more importantly, where we can take the industry in the future."
A track record of driving transformation
Funnel is proud to partner with 9 of the top 25 NMHC owners and operators, providing technology that helps them achieve their individual portfolio-wide operational visions. Funnel's track record of steady innovation and implementing customer feedback to continue driving forward its product offering makes it the leading choice for multifamily owners and operators who want to challenge the long-standing status quo industry practices and drive their companies to greater success.
UDR's adoption of Funnel was driven by a desire to shift away from myriad solutions and toward a unified, omnichannel communication platform that simplifies the day-to-day for team members by transparently routing communication and tasks to the appropriate specialized, centralized, or onsite team members. This streamlined communication workflow, alongside AI aiding team members to efficiently address frequently asked questions, schedule tours, screen applications, and other workflows, will power UDR's next phase on its centralization journey. This partnership is setting the gold standard for multifamily centralization.
About Funnel
Funnel provides a win to three vital groups: operators looking to improve efficiencies; onsite teams who demand a better long-term career; and renters who demand a better customer experience. Funnel's proven AI-infused CRM is the enterprise-grade solution industry leaders, owners, and operators trust to deliver a streamlined, consistent, and connected experience from first inquiry through years of renewals through the operational flexibility only a renter-centric® platform can provide. We call it Renter Management Software; our clients call it the new operating model.
About UDR, Inc.
UDR, Inc. (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate communities in targeted
Media Contact:
Funnel
Hannah O'Leary
Sr. Manager Corporate Communications
hannah.oleary@funnelleasing.com
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SOURCE Funnel
FAQ
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