1. Know their name, the names of their children and the names of their pets. Create a sense of home and personalize their experience so they are less likely to leave due to a rent increase or loud neighbor.
2. Provide constant communication of activities, events, and any important upgrades, so they stay in the loop. Don’t have the only form of communication be negative or only at renewal time.
3. Make your office environment fun, yet professional. Create a positive experience when they walk through your office door. Most of all, listen to what your residents are saying to you, good or bad.
4. Get them involved and create a sense of community on your property. Rather it be a community Facebook page, message board or monthly BBQ, come renewal time, your renter will be less likely to move if they have created a home and bonded with their fellow neighbors.
5. Plant some pretty flowers and clean the pool. Taking pride in your community will not only attract new renters, but keep your current residents happy.
6. Be attentive. Respond quickly to maintenance requests. You would be surprised how upset someone can get after going 6 hours with no running water. Any inconvenience to the renter is an issue that needs to be addressed, because they will remember the level of service you provided, and referrals are a great free way to market your communities.
7. Create a coffee nook, like a mini Starbucks, where residents can come for a little peace and quiet, hop on the internet, and sip their coffee. This will not only give you a chance to get to know your residents, but also offer an amenity that most people would regularly use. This feature could also save residents $20+/month in internet fees by offering a WIFI login upon signing their lease with minimal upfront cost for the management company.
8. Remember that it is a lot cheaper to keep your current residents happy, then to start from scratch by marketing and acquiring another renter. Think outside of the box with your resident retention efforts. Offer 15-minute chair massages once a month, or a parent’s night out event once a quarter. Partner up with local businesses extending special rates and discounts to your residents.