Case Study: KETTLER improves renewal efficiency and reduces vacancy loss with Renew

KETTLER boosts renewal responses to 45% with Renew

The customer, KETTLER, a Virginia-based operator of a large multifamily portfolio, faced the challenge of optimizing its intensely manual and inefficient resident renewal process. While aware of the business benefits of high retention rates, KETTLER found that existing technology platforms treated renewals as a niche and failed to offer a comprehensive solution, placing a heavy burden on onsite teams. Seeking to ease this load and gain better forecasting insights, KETTLER partnered with the vendor Renew to implement its specialized renewal platform.

The solution from Renew automated and optimized the entire renewal process for KETTLER. The results were significant and measurable: the percentage of residents responding to renewal offers within 14 days tripled from an industry average of 15% to 45%. This provided earlier visibility for better forecasting and pricing. Furthermore, residents gave notice to vacate 17 days earlier on average, allowing KETTLER to fill vacated homes five days quicker, drastically reducing vacancy loss. The platform also provided valuable insights into resident move-out reasons, with 53% of departing residents exploring other KETTLER properties within the portfolio.

KETTLER