How Tenant Planet leveraged automation to reduce its vacancies by 40%

Company Size
15+ employees
Year Established
2016
Portfolio Size
1000+ units under management
Location
California

The Challenge

For a fast-paced property management company, like Tenant Planet, day-to-day leasing activities such as scheduling showings, responding to monotonous tenant inquiries, and pre-qualifying tenants, were consuming too much of leasing staff time and hindering company’s growth.  

"Before LetHub our leasing team was spending 30% of their time working on guest cards, reaching out to them, pre-qualifying them, scheduling them for viewings. And that’s down to less than 10% of time taken now."

Parker Cox, CMO at Tenant Planet

Results achieved

KPIs Summary - January to April 2021

1,669

Total hours saved

40%

Reduction in vacancies

5,474

Questions answered by River

$41,730

Total staff costs recovered

2,657

Prospects qualified

12,135

Total renter inquiries

30%

Average increase in bookings

9,956

Total unique inquiries

The Impact

Adopting LetHub has helped Tenant Planet schedule showings, and pre-qualify prospective renters within seconds. With all the time saved, leasing agents are able to focus more on business generation, conversion and bringing in more owner leads.

Tenant Planet was able to add 64 doors in May, and aims to grow 5-7% every month, by automating repetitive tasks through AI-driven modern technology.  

LetHub's intelligent automation saved a total 1600 hours of leasing team's time

"LetHub has been 10 times the value based on savings for time. It’s abundantly clear that having AI to manage guest cards and leasing process is so much better. It’s 24/7, 365, never sleeps, and improves over time and that is clearly the future."

Parker Cox, CMO at Tenant Planet

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