All the multifamily news you need
By aligning the structure of the rewards program with the specific needs and wants of residents, multifamily leaders can create a living environment that feels less transactional and more like a partnership. This alignment is crucial in today's market, where renters have more choices than ever before and…
A Domuso survey administered at the 2024 NAA Apartmentalize conference found that an overwhelming majority of respondents – 92% – believe that reward programs can be beneficial to their communities. In fact, 40% of surveyed leaders have already implemented such a program.
Rewards motivate residents to continue engaging in business-aligned, positive behavior, and a points-based cash-back program makes them happy to pay rent or refer someone to a community. When residents are happy, they will let others know either by way of an online review or word of mouth.
Multifamily operators also know the true value of resident satisfaction and its impact on retention and attracting new renters. Although it is impossible to please all residents all of the time, innovative solutions are getting operators closer to that ideal than ever before.
A customer-focused approach that provides valuable information regarding resident behavior and trends can alter the trajectory of the entire industry. Operators can use these revolutionary payment platforms to create a convenient and rewarding experience.