by Stephen Ursery
In today’s rental market, seemingly every property has a pool, a fitness center or even a rooftop patio. The reality is, amenities such as these have become the standard and they don’t make a property stand out anymore.
In the never-ending effort to attract and retain residents, forward-thinking operators are offering services like rent reporting, loyalty programs and deposit alternatives—amenities that provide financial benefits—to help their communities. In the 2024 Entrata Summit session “Leveraging Resident-Based Services to Acquire and Retain Quality Residents,” a panel of multifamily executives and industry experts shared their companies’ success stories with financial-focused amenities.
Dave Hyman, President of Haverkamp Properties, noted that security deposit alternatives are popular amongst their student-housing and market-rate communities, while resident loyalty programs have been a particularly big hit in Haverkamp’s student-housing portfolio, as well. Residents earn loyalty points for paying rent on time, renewing a lease or even attending onsite community events.
Read Stephen Ursery’s article in UNITS Magazine.