Operations
Service level agreement (SLA)
A committed response or completion time, such as responding to emergencies within one hour or finishing routine repairs in three days.
Managers set SLAs by priority, for example emergency, urgent and routine, and measure the percentage of work orders that meet them. The same idea applies to leasing, such as replying to every lead within five minutes.
SLAs make expectations clear to staff, vendors, residents and owners. Tracking misses shows where staffing, vendor coverage or dispatch needs work. Clear SLAs are also useful in vendor contracts, where they can be tied to payment terms.
See it on a sample company