New construction, open floor plans, stylish refurbishments, and apartment complex amenities may get a prospective renter’s foot in the door, but the real money only happens when you increase renter retention. Retaining residents costs far less than acquiring, approving, and moving in new residents, which means you make more money. But how can you entice renters to call your complex “home” for the long-haul?
5 Ways to Improve Renter Retention
1. Communication – the key to every great relationship!
Customer service relies on strong communication skills, like quickly replaying to questions, complaints, concerns and repairs. But residents will really appreciate it if you let them know their packages have arrived within seconds of the parcel landing at your front desk. EZTrackIt makes it easy to communicate with automated texts and emails sent as soon as packages are scanned in.
2. Keep the property looking good, consistently.
People move when their apartment goes “downhill.” And, when you work in the same place day in, day out, it’s easy to let maintenance slide. If it’s a tenant laying waste to your complex’s aesthetic appeal (like the guy who uses his balcony as a trash receptacle), send a friendly reminder to clean up. You’ll increase renter retention if you keep the property up to its original standards (or improve those standards!).
3. Offer renewal perks!
When renters renew their leases, offer them a free carpet cleaning, a free kitchen cleaning, or even a free new paint job. Not only will they be delighted at their spruced-up home, these bonuses will help ensure the apartment is kept up in good repair.
4. Practice this one act of customer service every day.
When you see your tenants as they come in to the office to pick up a package, or if you pass them in the laundry room, ask this one question: Is there anything that needs fixing in your apartment? You might keep your maintenance staff busy by using this practice, but you’ll also prove to your renters that you genuinely care about their safety and comfort. You’ll also keep your apartments in better repair, which means fewer major repairs down the road.
5. Start the renewal process the minute they move in.
The decision to renew doesn’t happen once a year, or once every two years. The decision to stay, or go, is made with every interaction. Let EZTrackIt help you make a good impression over and over again – at least where packages are concerned! Sign up for our free trial to see how we can help you delight your residents and increase renter retention!