Introducing Renew, a cutting-edge solution that automates and optimizes the entire resident renewal process to boost NOI, Lantower Residential announced today that the platform has been implemented at more than 9,000 apartment homes throughout the Sun Belt region, enabling an increase in resident renewal rates.
This fall, Lantower Residential, an operator headquartered in Dallas, will roll out the Renew platform across its portfolio of communities in Texas, Florida, and the Carolinas. The company first piloted the Renew platform at 2,200 homes in July before rolling it out across the portfolio this fall.
The results of the pilot program were so impressive that we decided to roll out Renew's solution across the board before the pilot program ended, said Nick Amy, vice president of operations at Lantower Residential.. There is no doubt that resident retention is one of the most important aspects of our business, particularly in the current market, hence, we needed a more efficient way of to drive quicker renewal decisions and gain insight into the reasons behind those decisions. With Renew, we have experienced an immediate increase in speed to decision, which has given us the ability to forecast occupancy trends more accurately and gives us a better chance of keeping any departing residents within our portfolio.
With Renew, we have experienced an immediate increase in speed to decision, which has given us the ability to forecast occupancy trends more accurately and gives us a better chance of keeping any departing residents within our portfolio.
This high-powered software integrates easily with leading property management systems and assists operators with a centralized renewal tool and retention strategy, while also interacting with residents on a regular basis so they can better navigate the process of renewing their rental properties. As a result of this solution, we can automate outreach to residents to help understand their propensity to renew. We can also deliver renewal offers with dynamic pricing and leverage insights in order to create a curated resident experience, which will increase renewal rates and speed up the renewal process overall.
As a result of this solution, we can automate outreach to residents to help understand their propensity to renew. We can also deliver renewal offers with dynamic pricing and leverage insights in order to create a curated resident experience, which will increase renewal rates and speed up the renewal process overall.
The software also captures valuable data about resident needs and living experiences, providing team members with unparalleled visibility into renewal pricing and where individual renters are in the renewal process, while also providing team members with unparalleled insight into renewal pricing. Moreover, Renew enables operators to move residents moving out of one of their properties into a community within their portfolio more easily, as well as enabling them to sell leads to other operators for a fee, thereby turning move-outs into a revenue stream.
"Lantower Residential is always on the cutting edge of technology, which is why we are thrilled to partner with them and help them optimize their renewal processes," Rob Hayden, CEO and co-founder of Renew, said. "Lantower is poised to boost retention rates, prepare more effectively for any vacancies that may occur, and potentially move departing residents elsewhere within its ecosystem by incorporating more automation and insights into the needs of residents nearing the renewal stage."
By transforming the resident renewal process and powering retention on a portfolio-wide basis, Renew is able to enable apartment owners and operators to realize traditionally overlooked business opportunities in a more timely manner. There is a scalable, centralized solution which automates and optimizes the renewal and retention processes in order to increase the NOI and improve the bottom line of the organization. It facilitates the seamless renewal of a tenant's lease or finding a new home within an operator's portfolio, while also providing operators with powerful data and insights into the resident's experience and their inclination to renew the lease at hand. As a company founded by two veterans of the rental housing industry and the technology sector, Rob Hayden and Kevin Murphy, Renew seeks to unlock tremendous value for both residents and operators, as well as to completely redefine the relationship between both parties.
As a company founded by two veterans of the rental housing industry and the technology sector, Rob Hayden and Kevin Murphy, Renew seeks to unlock tremendous value for both residents and operators, as well as to completely redefine the relationship between both parties.
An overview of Lantower ResidentialLantower Residential is a subsidiary of H&R REIT (TSX: HR).As a vertically integrated real estate company, UN Properties (UN) focuses on the acquisition, financing, and management of multifamily communities in the United States. As a result of its disciplined investment strategy and portfolio management, the company is focused on driving growth and maximizing value for its shareholders.. As a company, Lantower Residential is led by a group of executives with a great deal of experience across a variety of industries. Effort is put into coordinating the efforts of Lantower's teams in order to deliver results that result in successful investments
Effort is put into coordinating the efforts of Lantower's teams in order to deliver results that result in successful investments
Contact InformationStephen UrseryLinnellTaylor Marketing[email protected] 303.682.3945
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