How to Boost Resident Retention in 2021
When it comes to leasing and maintaining a multifamily property, staying on top of resident concerns and property improvements is crucial. One of the most important things a property management company can do is maintain a high resident retention. This is easier to accomplish if it is properly planned. A tenant retention program is a plus to the property management services offered by top property management companies in Houston. As part of their advanced management services, top property management companies in Houston often incorporate the following resident retention strategies:
Help Your New Residents Settle In
The importance of first impressions cannot be overestimated. Top property management companies in Houston supply future residents with the ultimate moving checklists to keep their new leasers organized and prepared for move in day. If your residents perceive that you go out of your way to support them right away, you'll be well on your track to win their long-term confidence and loyalty.
In addition, if the first thing your new resident sees when they walk into their apartment is a sweet gift, you can bet they'll develop a favorable impression of your property right away. Positive resident move-ins have proven to improve resident retention.
Streamline Maintenance Requests
Waiting for work orders is one of the most frustrating aspects of living in an apartment community. In reality, most multifamily property owners and residents consider maintenance requests to be a major source of frustration. Staying on top of your residents' needs will have a significant effect on your performance as well as your residents’ satisfaction. Whether by phone call, text message, or social media, you should make every attempt to streamline the communication process. The best property management firms in Houston help solve this problem by streamlining the maintenance request process. Residents will feel taken care of leading to a higher retention rate.
Organize Residents Events
Community activities are one of the most practical ways top property management companies in Houston boost resident retention. Providing opportunities for the tenants to meet their neighbors goes a long way. Statistics show residents who feel like a member of a community are less likely to leave, which in turns boost your resident retention. Furthermore they are more likely to refer their friends outside of the community.
Make It Easy To Renew
Both residents and property owners profit immensely from the opportunity to renew leases electronically. Top property management companies in Houston provide residents with an electronic copy of the lease agreement, which they can review anytime they want. It is also encouraged to host renewal parties. A renewal party gives residents a chance to relax and have fun and reminds them why they love living in your community, and it’s the perfect time to have them kick back and sign their electronic lease.
Respect The Privacy of Your Residents
If you need to enter a unit to perform maintenance, be sure you respect the resident’s privacy. Top property management companies in Houston figure out the best time to make repairs and give plenty of announcements, which helps the residents feel more secure.
It's tough to manage your multifamily apartments without having to worry about vacancies. Maintaining high resident retention is in everyone's best interests and should be one of your top priorities. If you are looking for a skilled property management company in Houston to manage your property and maintain occupancy contact SWA Property Management