by Paul Willis
Renew, the premier renewal, retention and resident-lifetime-value platform for rental operators, today announced it has been named a 2024 Influencer in Commercial Real Estate Technology by GlobeSt.
The awards program recognizes companies and individuals who provide innovative technology applications for property owners and operators in the multifamily, retail, industrial, office, hospitality and healthcare real estate sectors. Renew and the additional honorees are profiled in a feature article on GlobeSt.com.
“We are honored to receive this recognition from GlobeSt.,” said Rob Hayden, CEO and co-founder of Renew. “It is a testament to the impact our platform is having on both operators and residents. When we publicly launched our platform last year, we challenged our operator partners to shift from a mindset of renewing leases to one of renewing residents as customers – to consider what that resident might need or where they might be going. We’ve been amazed by how our partners have quickly incorporated Renew into their businesses, rolling out comprehensive retention strategies and thinking holistically about the resident lifecycle.”
Renew’s technology integrates with leading property management systems, and provides operators with a centralized renewal tool and retention strategy while interacting with residents to help them easily navigate the renewal process. The solution automates outreach to residents to help understand a renter’s propensity to renew, delivers renewal offers with dynamic pricing, and leverages insights to create a curated resident experience, all of which drive an increase in renewals and faster renewal decisions.
The software also captures valuable data about resident needs and living experiences, while providing team members with unparalleled visibility into renewal pricing and where individual renters are in the renewal process. In addition, Renew enables operators to more easily move a resident who is leaving one of their properties into another community within their portfolio. The software also allows operators to turn move-outs into a revenue stream by providing leads to other operators for a fee.
“Holistic resident retention has long been one of multifamily’s unrealized business opportunities,” Hayden said. “This honor from GlobeSt. shows we’re helping the industry realize its positive impact on the financial performance of operators and the resident experience at large.”