"At Summit Properties, we have polled our residents yearly for over 20 years. Having a sound resident feedback program has allowed us to maximize resident satisfaction and our properties' performance. Switching to SatisFacts, and having them build a customized appraisal program, has provided us with many benefits over our past written survey programs. Their program is non-intrusive to our corporate and property staffs, which has been a problem in the past. We found that with participation so high, we no longer needed to hold parties and offer incentives to try and increase responses. The rollout was infinitely easier and we had our final reports in our hands in just 30 days, a third of the time that past programs took. Their statistically valid methodologies and support really mattered because it meant we could finally have confidence that the results were representative. Lastly, SatisFacts provided much more than just research...their summary reporting, consulting and planning support made it easy for all levels of our organization to create sound, actionable plans."

Randall M. Ell
President
Summit Management Company

SatisFacts
is a proud member of:
NAA
NAA

A Clear Return on Investment

Take the Guesswork Out of Retention™ to Grow NOI: Our Cost Effective Feedback Loop Helps Enhance Service, Resident Satisfaction and Resident Retention

  • The keys to maximizing lease renewals are not "bells and whistles" but addressing the issues impacting resident satisfaction.
  • Your residents want to tell you how to increase the likelihood they'll renew - let them "talk behind your back" using a third party, then ask the right questions, listen and respond.
  • Results can be leveraged to improve resident satisfaction and retention, thus providing a significant return on investment.
  • SatisFacts research findings show why this is important:
    • Each move-out costs at least $3,000.
    • Over 60% of potential turnover is controllable.
    • Clear correlations between service and resident satisfaction, and between resident satisfaction and resident retention.
    • Firms that focus on issues identified in portfolio, regional and property reports experience increased satisfaction scores, and increased performance in the all-critical renewal likelihood and actual turnover metrics.
    • The net result is reduced controllable turnover and improved NOI performance.

Client Experiences: Focusing on Satisfaction Permits for NOI Growth

  • Controllable turnover and our correlation findings validate the value of monitoring resident satisfaction.
  • Performance improves when results and action plan support tools are leveraged to implement changes at each level.
  • As correlations forecast, clients utilizing on-going RRM™ programs experience increased scores, lease renewal likelihood and ultimately reduced resident turnover:
    • 4.5% average satisfaction score improvement and 3.3 point improvement in “Very Likely” to renew
    • If 10,000 units, and given a $3,000 cost per move-out, reducing turnover 3.3 points leads to:
      • 330 fewer move-outs and a $990,000 NOI increase.