Property Management Automation to Slash Tour No-Shows by 45%
Abstract
How much do no shows cost property managers?The most straightforward answer is - no shows and appointment cancellations cost property managers A LOT. That's resources, money, and time that could be spent dealing with owner leads, bringing in extra dollars, and investing in a better resident experience. Before you start developing your no show plan of attack, here is how you can do the math and estimate just how much no shows are costing your property management company: According to our data a decent sized property management company with 500 units schedules at least 400 appointments per month. Number of No shows = 20% * 400 appointments/mo = 80 no shows per month Time taken to manually schedule a tour = 15 mins * 80 appointments/mo = 20 hours per month Time taken to travel and show a property = 60 mins * 80 appointments/mo = 80 hours per month Total time lost on no shows in a year = 100 hours/mo * 12 months = 1200 hours per year Staff costs lost = $25/hr * 1200hrs/yr = $30,000 / year Utilize property management automation to avoid costly no shows Seasoned property managers with a lot of experience know that renting out their units comes with the hassle of dealing with no shows. Automate the Showing Process with a Scheduling SoftwareWith property management automaton tools such as an online tour scheduler, property managers can save the hassle of setting up rental showing appointments themselves. How much do no shows cost property managers? The most straightforward answer is - no shows and appointment cancellations cost property managers A LOT. That's resources, money, and time that could be spent dealing with owner leads, bringing in extra dollars, and investing in a better resident experience. Number of No shows = 20% * 400 appointments/mo = 80 no shows per month Time taken to manually schedule a tour = 15 mins * 80 appointments/mo = 20 hours per month Time taken to travel and show a property = 60 mins * 80 appointments/mo = 80 hours per month Utilize property management automation to avoid costly no shows Seasoned property managers with a lot of experience know that renting out their units comes with the hassle of dealing with no shows. Automate the Showing Process with a Scheduling Software With property management automaton tools such as an online tour scheduler, property managers can save the hassle of setting up rental showing appointments themselves.
