Almost 6 Leases/Property/Month!
Coastal Ridge dives into lease data around automation
Many in the Multifamily Industry are facing the same challenge right now: The labor shortage. More leasing professionals are leaving their properties than are coming in and replacing them is getting even more expensive…if you can find them.
One such company, Coastal Ridge, has been testing and deploying automation solutions to help during this labor shortage. The goal? To give their leasing agents a better-quality work environment by reducing the volume of mundane, repetitive tasks they have to do on a daily basis and give them their time back. But at what cost? And is automation really working for them?
So Coastal Ridge did a deep dive into the data, and this is what they found using 36 of their properties over a period three months using just BetterBot’s web chat skill:
The following are averages per property per month…
2,260 – Number of renters greeted
174 – Unique renter conversations
340 – Total renter conversations
124 – Specific questions answered
14 – Virtual tours provided
29 – Conversational handoffs to the leasing team
19 – Appointments scheduled
5.8 – Leases that BetterBot helped facilitate
67 – Hours BetterBot’s web chat skill saved each property
$1200 – Money saved by deploying BetterBot’s web chat automation skill
And just for fun, when you add up all 36 properties for 3 months, Coastal Ridge saved 7,236 leasing team hours which equals $130,248 in cost savings. Was it worth it? “Absolutely,” says Megan Womick, Marketing Manager at Coastal Ridge. “We really do care about providing immediate service to our renters and reducing the workload for our leasing teams. Deploying this automation accomplished both.”