How Creating a Positive Environment is Key to Renter Retention

It often doesn’t take much for renters to decide to look for another place to live. It can be anything from wanting an upgraded apartment to dissatisfaction with the staff to wanting a new location. This makes maintaining your property and creating a welcoming environment for residents critical for renter retention. We often focus on the design renovation aspect which is essential to getting residents into your property and retaining them after they have signed the lease but if you’re residents aren’t happy with the staff, communication and accommodations, they’ll look for another property. Let’s take a look at how you can help create a positive environment to keep renter retention!

Staff

Having proper staffing is essential! These are the people residents will be interacting with on a regular basis. Your staff should not only be friendly but fully educated on the property and neighborhood and capable of handling resident requests, questions and any issues that may arise. This includes everyone on your staff from:

  • Your call center (if you have one)
  • Leasing agents
  • Maintenance professionals
  • Courtesy officers

Communication Strategy

According to a panel discussion at the Multifamily Executive Conference, developing a staffwide communication strategy was deemed crucial to renter retention.

  • How does your property welcome future residents? Is there a specific process you walk them through to provide a welcoming experience?
  • How do you process maintenance requests? Do you have a timeframe you complete these in?
  • How do you manage resident complaints and requests?

These are often the most common times staff interacts with residents so you want to make sure you have a communication strategy in place to ensure residents have the best experience possible. This could be anything from creating sparking conversation to learn more about residents and what they would like to see at the property to creating a policy around addressing maintenance requests within 24 hours for example.

Modern Gem Design: How Creating a Positive Environment is Key to Renter Retention
Modern Gem Design: How Creating a Positive Environment is Key to Renter Retention

Resident Events

One of the great things about living in a multifamily property is getting to know your community. Resident events are a great way to give your residents a space to meet their neighbors and the property’s staff as well as feel appreciated by community. From a staff point of view, you can get to know your residents much better in an informal setting which will ultimately allow you to communicate more easily with them in the future. This all equals happy residents!

Need some ideas for resident events? We have you covered!

  • Pizza party
  • Food trucks
  • Game/trivia night
  • Barbeque
  • Happy Hour
  • Fitness class
  • Kids crafts for families
  • Holiday parties

Another ways to keep your residents happy? Consider implementing an online portal for residents to pay their rent and submit maintenance requests. This makes life just a little easier for residents, which they will appreciate in the long run.

While updating your property is essential to getting new residents into your door, providing a welcoming community is essential to renter retention. Listening to residents and adjusting your strategy/policies to accommodate your residents will help keep them happy and in your community!

If you’re in need of some help with renovations and property updates, contact us today.