Note that this report is currently in Beta and is not live on the platform now
Knock's Renewals report is a great way to better understand the renewal outcomes of the residents for your properties. It includes details around renewal rates associated with residents and the resident engagement score which can help your leasing team better understand the renewal outcomes at your property. Here is a glossary for all the data points in the report. We'll also outline below what all the filters and options will do to the report to make sure everything is crystal clear!
Property Name: The property name. The report is grouped by Property so this will help you quickly identify properties with issues in their renewal process.
Leases expiring in range: This is the count of leases that have a lease end date within the date range chosen for the report. For example, if a resident has a lease end date of 3/21/20 and you pull a date range of 3/20/20 - 3/26/20 that resident would show up in this column.
Renewed leases: This column is a subset of the leases expiring in range column showing only those residents who have chosen to renew. Using the previous example, if the resident with a lease end date of 3/21/20 had signed a renewal and has a new lease they would show up on this field.
Renewal rate: This is simply your "Renewed leases" column divided by your "Leases expiring in range" column to reflect your renewal rate over a time span. This can help you answer questions like "What was my renewal rate last November" that can start to help set benchmarks and get an idea around what an optimal renewal rate would be.
Renewal engagement score: This is a similar metric to our standard engagement score. Your leasing team will need to follow up with all the residents on their to do list to get this to 100%! Doing so should help your team successfully manage their renewal funnel and decrease the time it takes for a resident to decide to renew or not and allow your team more time to understand the next steps for an apartment at the end of its lease term.
Date Range: This sets the dates for the report to refer to.
Properties: This is a multi select field to select one or more properties. To select all, simply uncheck all the selected properties. The report will default to show all properties.