SMART RETENTIONTM
The industry’s first ever intuitive technology platform developed specifically to increase retention in the multifamily market.
Download Lyra Intel’s Smart Retention white paper
Smart Retention was designed to engage and respond to resident renewal interest faster, significantly accelerating the leasing process and saving properties valuable time and money.
Automated Workflows
Offers a hands-off approach to retention, completely removing the manual effort required of property teams by generating automated workflows within an easy-to-use dashboard.
Personalized Messaging
Categorizes residents based upon key criteria at critical intervals leading to lease expiration and targets with messaging based upon their behavior in and around the community.
Real-Time Results
Resident intent data is immediately available to property teams to start the leasing process with existing residents and forecast renewals and vacancies with greater accuracy.
Customer Example
THE SITUATION
Top Property Management Company
- Based in Miami, FL
- 20 properties in five states
- Centralization of property functions
- Aging communities
- High competition in market
TOP ISSUES
- High resident acquisition dollars with little return
- Resident retention rate below market averages
- Properties stretch across large geographic footprint
- Limited engagement among residents
OUR SOLUTION
- Intuitive, hands-off approach to retention
- Generates automated retention workflows
- Targets residents at critical intervals leading to lease expiration, beginning at 120 days from expiration
- Delivers property-specific messaging via email and in-app messaging with renewal calls-to-action
- Saves property teams valuable time and money
THE RESULTS
10%
10%
increased retention
42%
resident open rate
of emails, in-app messages, and notifications
22%
resident response rate
indicating renewal or move-out intent
$89,559
decreased spending
in lost days, maintenance, concessions, advertising, commissions, and repairs
