Resident Retention

As we all know, resident retention doesn’t start when you send them their lease renewal.  It starts the day they tour your community.  As soon as they’ve left you that holding deposit, you’ve already sold them on you and your community.  They are now your resident to lose if you don’t treat them the way that they expect or even better.  We are all aware that the majority of residents who leave our communities do so for controllable reasons.  It’s important to know what these reasons are and to limit them as much as possible.

Remember that maintenance is a huge part of your team, and while out on the property they often become the face of the property.  It is important that all maintenance requests are written up and addressed at the earliest opportunity.  Should the resident be home when the work order is completed, maintenance should try to engage them in conversation.  Even though they’ve called for a particular work order, there may be something else in their apartment that needs to be repaired that they keep forgetting about.  Having Maintenance ask them about any other issues they have may remind them of some additional repair, and they will likely thank them for being so thorough.  In addition, this will increase the efficiency of your team, not having to return to this apartment at a later date.

A property’s appearance is also extremely important.  Residents who come home every day to a clean and attractive environment will stay happy residents and won't consider moving to other communities.  This can only be achieved by the staff constantly walking the property and communicating with each other on what needs to be done.

Knowing your residents names, their children’s names and even their pet’s names is always helpful.  People like to feel appreciated and that you really know them.  Additionally, you can keep treats in the office for both humans and pets alike – we all know that the way to a resident's heart is through either their child or pet.  Showing them that they are important to you too, will work wonders.

Below are a few of the ‘oldies but goodies’.  These small thank you gifts allow the residents to feel special and that you appreciate the financial commitment they have made to you:

·         Carpet Shampoo

·         Paint apartment after several years of residency

·         Local restaurant gift cards

·         Dog Walker certificates

·         Cleaning company certificates for one time services

Social events can also make your residents feel like part of a friendly community.  If they don’t know the property staff or their neighbors, there are no ties keeping them in that apartment.

Obviously these are the ideas and tactics which have worked for the properties on our team, we'd love to hear what's working for you.  How are you keeping your residents happy and in a renewing frame of mind?

~ The Mariners