Renew today announced it has reached a strategic partnership agreement with KETTLER, a multifamily developer that has designed and built more than 30,000 apartment homes.
KETTLER, based in McLean, Va., will utilize the Renew platform to centralize and optimize all facets of its renewal/retention process, including timely communications with residents nearing the completion of their lease lifecycle. The platform will help KETTLER residents reach renewal decisions at an accelerated pace and ensure all renewal-based communications are compliant with local jurisdictions.
KETTLER first piloted the Renew platform at 16 properties in the Mid-Atlantic, including nine within Virginia. The pilot, which ended in February, delivered $7.7 million of renewal lease value and accelerated renewal decisions by more than four times on average.
Additionally, those deciding to vacate rather than renew were referred to other properties within the KETTLER ecosystem, with 51% of residents who gave a notice-to-vacate decision viewing other KETTLER properties. With the strategic partnership now official, KETTLER plans to implement the Renew platform across its portfolio.