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Case Study Two: Increased “Very Likely” to Renew Leads to Actual Reductions in Turnover
- Situation: Addressing the issues that impact renewal likelihood does lead to actual turnover dropping. By focusing on the issues raised in review sessions with SatisFacts, clients are able to make adjustments in focus and efforts, with a significant financial impact.
- The following are some examples of changes seen by clients.
|
| Client |
Approximate Portfolio Size (units) |
Overall Satisfaction Score |
Percent "Very Likely to Renew" |
Actual Reduction in Turnover |
Reduced Turnover (units) |
NOI Increase |
| Regional Portfolio |
5,500 |
|
|
|
|
|
| Year 2 |
|
4.29 |
42% |
6% |
330 |
$990,000 |
| Year 1 |
|
4.25 |
41% |
|
|
|
| |
- Situation: Despite a strong performance in year one, improvements were required in some very important and actionable communication and work order process related areas.
- Following the first year result review session, property teams increased the focus on the areas identified by SatisFacts.
- As a result, all key metrics improved and turnover dropped by a significant 6 points.
|
| |
| National Portfolio |
7,500 |
|
|
|
|
|
| Year 4 |
|
4.19 |
51% |
9% |
675 |
$2,025,000 |
| Year 1 |
|
3.98 |
48% |
|
|
|
| |
- Situation: A wide variety of opportunities for improvement were identified in the first year results
- By adjusting staff focus on areas identified by SatisFacts as being most important as it relates to retention, all portfolio performance metrics improved year-over-year, with a significant reduction in turnover.
- After a four year period, actual turnover dropped by a dramatic 9 points.
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|
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