Company: Korman Residential invests in and manages multi-family property portfolios in Pennsylvania, New Jersey, Delaware, and Florida.
Results: In the first 8 months of service, residents reached out to over 40,000 friends recommending the Korman properties. The program yielded a 253% ROI. In aggregate there were 87 residents that participated through LeaseStar Social and had a friend join the community at a later date. One property in particular, River Chase, scored a 580% ROI through the LeaseStar Social program.
Company: Vertica Resident Services is a multi-family property management company that manages 10,000 units across Canada.
Results: Vertica residents used LeaseStar Social to recommend their properties to 13,312 of their friends through 5,467 Facebook notifications, 51 social wall posts on Facebook, MySpace, Twitter and 195 targeted emails. Participating residents were 3.2 times as likely to close a referral lease as non-participating residents, resulting in a 200% Return on Investment.
Company: Sequoia Equities manages multi-family communities with over 20,000 residents living in communities across the west coast.
Results: Sequoia residents used LeaseStar Social to recommend their properties to 99,402 of their friends. Over 10% of the 423 annual resident referrals were attributed to the LeaseStar Social program. This incredible distribution tripled the referral rate for residents using LeaseStar Social. Sequoia enjoyed a 332% ROI on the program in 2009.
Company: Prometheus Real Estate Group owns and manages approximately 80 large-scale communities with over 20,000 apartments in the Bay Area, Seattle, Portland, and Los Angeles Metropolitan areas.
Results: Prometheus launched 10 properties with LeaseStar Social and before long had all 80 properties running with its online referral platform. One year after launching the program, 13,123 qualified prospective residents were referred to Prometheus properties online by current residents at the communities. For the year, LeaseStar Social yielded 87 closed referral leases and an ROI of 380%.
Company: Woodmont Real Estate Services is a premier real estate management firm in Northern California currently managing a real estate portfolio valued at over $3 billion.
Results: In 2010, Woodmont residents have already used LeaseStar Social to recommend their communities to 77,289 friends. Distributing these referral messages doubles the likelihood that residents will close a referral lease compared to non-participating residents. By coupling a strong referral message with incredible distribution, LeaseStar Social helped Woodmont achieve an ROI of 336%.
Company: Waterton Residential manages 15,000 apartment homes located in 34 communities across 12 states.
Results: Waterton residents used LeaseStar Social to recommend their properties to 87,072 of their friends. This incredible distribution resulted in a comfortable ROI of 224%. In 2009, over 12% of Waterton's 446 annual referrals were converted by residents using LeaseStar Social. Participating residents were 2.5 times as likely to close a referral lease as non-participating residents.
What people are saying
Waterton, a Chicago-based firm with 15,000 apartments in 12 states, found substantial return on investment in its one-year test of the RentMineOnline social media-based resident referral program.Virginia Love
VP, Marketing and Training
RentMineOnline removes our industry disconnect in resident referrals by helping residents spread the word about their communities to friends. The program is super simple, easy, and affordable.Toni Blake
Multi-Family Industry Legend Award Recipient
Consulting with RentMineOnline since 2008, I have watched as they have helped residents refer thousands of friends online, creating huge value for property management companies.Lisa Trosien
Multi-Family Educator and Consultant
The results speak for themselves. Within 24 hours of our first RentMineOnline campaign launch, our residents sent 3,277 positive referral messages to their friends endorsing Sequoia communities on Facebook.Lisa Trapp
Director of Marketing
We have been extremely happy with the results of RentMineOnline at Alexan Arista and we will continue to implement the program at more Greystar communities in the future.Heather Salazar
Regional Property Manager
We've been working with the team at RentMineOnline for a few years and have been very pleased, not just with their level of service and commitment to our program, but also with our results. We look forward to continually working with them in the future.Amin Rahim
Vertica Resident Services
Read about the performance of our referral programs in a recent case study from Units Magazine: