Property Management

Four Tips For Driving Resident Retention

by Paul Willis

Apartment operators work tirelessly to attract new residents. They regularly mull innovative ways to appeal to the modern-day renter. But many of those residents who can lead to a robust occupancy rate are already in the building. 

When crafting marketing plans and pushing to drive the performance of their portfolio, operators should not overlook current residents. They’ve already done the hard part and sparked their interest—now it’s just a matter of keeping them at the property. Maintaining current residents helps curb turn and marketing costs, builds a sense of community and limits the volume of new residents teams will have to attract each year. 

Granted, a healthy mix of renewals and new arrivals is generally ideal. But operators who neglect residents after move-in generally will experience more than their share of one-and-done terms. From Zoom rooms, exemplary service levels, cutting-edge pet policies and a state-of-the-art maintenance approach, operators recently shared some of their tips for keeping valuable residents in 
the building. 

Read Paul Willis’ article in Units Magazine.

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