Case Study: Tricon Residential cuts vacancy time and streamlines leasing with Effectual smart home automation

Tricon Residential cuts vacancy time to under 10 days with Effectual

Tricon Residential, a major single-family rental company, sought to modernize its leasing process to reduce property vacancy times and make home tours more efficient for potential tenants. They partnered with Effectual and its Modern Cloud Management service to develop a technology-driven solution that would remove scheduling barriers and enable self-guided tours.

Effectual implemented a solution using smart locks with ID verification and Amazon Alexa Smart Properties to provide automated, self-guided home tours. This allowed prospective tenants to schedule and tour properties at their convenience. The solution significantly streamlined the leasing process, cutting the average time to lease a property from 30-40 days to under 10 days. Effectual also provided ongoing cloud management, which achieved substantial cost savings, including reducing compute spend by approximately $16,500 per month.

Tricon Residential