Lease-renewal agent for a multifamily property manager
Multifamily property management firm, Texas
- Challenge
- Leasing agents managed renewal outreach for 4,200 units across a shared spreadsheet, so renewal offers regularly went out inside the last two weeks of a lease, by which point a resident had often already started looking elsewhere. Rent-comp research for each offer was done unit by unit by hand.
- Solution
- AGS built an agent that opens the renewal window 90 days out, pulls comparable rent data for the unit's submarket, and drafts a renewal offer within the property's pricing guardrails for a leasing agent to approve and send. Declined offers automatically route to a human for a judgement call.
- Results
- Renewal offers sent 90 days out instead of an average of 12
- Lease renewal rate up 9 percentage points
- Agent time spent on rent-comp research down 70%
