Resident Retention Solution Introduced at
9,000 Apartment Homes in Sun Belt Region
NEW YORK ,
Dec. 5,
2023 /PRNewswire/ -- Renew, a cutting-edge solution
that automates and optimizes the entire resident renewal process to
drive NOI, today announced Lantower Residential has
implemented its platform at more than 9,000 apartment homes in
the Sun Belt region.
Lantower Residential is a Dallas-based operator with communities in
Texas, Florida and the Carolinas. Lantower first
piloted the Renew platform at 2,200 homes in July before rolling it
out across its portfolio this fall.
"We experienced such strong results in the pilot program that we
decided to roll out Renew's solution across the board before the
pilot ended," said Nick Amy, vice
president of operations for Lantower Residential. "With resident
retention being so crucial, particularly in the current market, we
needed a more efficient way to drive quicker renewal decisions and
gain insights into the reasons behind those decisions. With Renew,
we have experienced an immediate uptick in speed to decision, which
enables us to accurately forecast occupancy trends and provides a
better opportunity to keep any departing residents within our
portfolio."
Renew's high-powered software integrates with leading property
management systems and provides operators with a centralized
renewal tool and retention strategy while interacting with
residents to help them more easily navigate the renewal process.
The solution automates outreach to residents to help understand a
renter's propensity to renew, delivers renewal offers with dynamic
pricing and leverages insights to create a curated resident
experience, all of which drive an increase in renewals and faster
renewal decisions.
The software also captures valuable data about resident needs
and living experiences, while providing team members with
unparalleled visibility into renewal pricing and where individual
renters are in the renewal process. In addition, Renew enables
operators to more easily move a resident who is leaving one of
their properties into another community within their portfolio. The
software also allows operators to turn move-outs into a revenue
stream by providing leads to other operators for a fee.
"Lantower Residential is always on the cutting edge of the
technology curve, and we're thrilled to partner with them and help
optimize their renewal processes," said Rob
Hayden, CEO and co-founder of Renew. "By incorporating more
automation and more insight into the needs of residents nearing the
renewal stage, Lantower is primed to boost retention rates, better
prepare for any vacancies and potentially move departing residents
elsewhere within their ecosystem."
About Renew
Renew enables apartment owners and
operators to realize traditionally overlooked business
opportunities by transforming the resident renewal process and
powering retention on a portfolio-wide basis. It is a scalable,
centralized solution that automates and optimizes the renewal and
retention process to drive NOI and improve the bottom line. Renew
helps renters seamlessly renew their lease or find another home
within an operator's portfolio, while also delivering powerful data
and insights into the resident experience and inclination to renew
to operators. Founded by rental housing and technology veterans
Rob Hayden and Kevin Murphy, Renew seeks to unlock tremendous
value for both residents and operators, and to entirely change the
way both parties think about their relationship.
About Lantower Residential
Lantower Residential, a
subsidiary of H&R REIT (TSX: HR.UN), is a vertically integrated
real estate company focusing on acquiring, financing, and managing
multifamily communities in the U.S. The company focuses on driving
growth and maximizing value through its disciplined investment
strategy and portfolio management. Lantower Residential is led by a
team of executives with vast experience across all sectors of our
business. Lantower's teams operate alongside each other to deliver
results that lead to successful investment outcomes.
Media Contact
Stephen
Ursery
LinnellTaylor Marketing
stephen@linnelltaylor.com
303.682.3945
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SOURCE Renew