Improve Apartment Resident Retention Through Communication
How many times have you heard that communication is the key to successful relationships?
Many times, because it’s true.
You might be communicating to your apartment residents on a regular basis, but are you delivering your message in the way they prefer to receive it? Even if you’re sending renters flyers with messages and content, how do you know they’re listening?
To cover all bases, distribute your multifamily marketing materials in a variety of ways — in person, by phone, with flyers in high traffic areas, in email. Regular communication, like through a monthly apartment newsletter, with residents keeps them informed and helps them feel connected, which can lead to resident retention.
Got big property management news, an upcoming resident event, a maintenance operation scheduled? Post an apartment flyer in a common area of your community, hang a door hanger at their rental residence, tell them in person as you cross paths at your multi family community, and post digital ads on all available social media outlets as well as your residential portal.
When apartment residents perceive you are communicating community updates and property notices in a timely manner, they are less likely to get bent out of shape at changes or disruptions. Social media, email and posting through your resident portal are instant ways to communicate and have quick conversations with residents to ensure they feel connected and develop a sense of community.
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Understanding Your Residents is Key to Retention
Are you investigating and understanding the thought processes of a rental resident and what they want to receive from your multifamily community? Do you know the difference in what apartment residents want and what they need?
Renters are mainly concerned with their hot button issues, so they’re going to choose apartments with community amenities that help satisfy these, but you can help determine how a customer feels about your multi housing property. When you provide amazing product with impressive resident amenities, excellent customer service with talented property managers and engaging resident activities that create bonds, you’ll be rewarded for your efforts with better resident retention.
When multifamily residents are happy and satisfied, they are more likely to renew and extend the life of their lease longer, improving your bottom line with fewer vacant units, better occupancy and you will reduce turnover costs.
Let’s assume your property manager efforts lead a resident to share positive feedback by word of mouth or post a community review via social media with friends and family. You can hear current and former renters singing your praises with online Yelp reviews and higher apartment ratings.
To make this organic output happen, your multifamily marketing job is to manage renter expectations and shape prospective renter perceptions. Every time you communicate through an apartment flyer with a customer, use this valuable opportunity to position your retention or leasing message with a public relations stance. Since perception is shaped by what you read, see and hear it’s critical to consider what your apartment marketing looks like and what words you use to influence toward your management company’s position.
How many times have you read the product reviews before making a purchase on Amazon? How many times have you checked out a restaurant on Yelp before eating there?
Most likely these voices were influenced in part by a perception of good customer service. Why is this important?
The statistics are high for the number of current residents who will help you attract new renters by sharing favorable living experiences with others, and word of mouth is a powerful reputation management tool.
Learn More About Resident Retention:
1. Build a Community and Tenant Retention Will Follow