In the past few years, the property management industry has gone through major changes resulting in trends that are shaping what residents expect from properties and the type of experience they want.
As technology becomes more prominent, properties that adopt a modern approach in their business operations by providing high-end amenities and tech integrations such as online payments tend to attract more renters, especially Millennials and Gen Z.
Residents tend to be vocal about their experiences with housing and are often more than happy to share good or bad news about their experience as a tenant of your property.
This emphasizes the importance of why property managers must ensure their properties provide exceptional experiences to tenants; because prospective residents will rely on online reviews as a way to gauge whether or not they want to live in that community.
How to Improve Your Community’s Resident Experience
Improve resident retention by working on three areas: streamlining processes, improving communication and providing more conveniences such as services or upgraded amenities.
In this post, we'll dive into the different property management solutions that can lead to higher retention rates, better leasing KPIs, and generate more revenue for you and investors, all while improving resident experiences.
Make Maintenance Processes a Breeze
A streamlined maintenance process will help you provide faster repairs and track them more efficiently. This experience makes it easier for residents to get their issues addressed promptly and also ensures that your staff members have all the information they need in one place.Use an online form or a software app since they are the easiest way to automate service requests. Whether it's for a broken light bulb or a leaky faucet, you can create a form on your website or use an existing service. Providing online information via email helps residents can get in touch with you or your staff in case they need to request service or report problems.
Offer Package Management
To make package tracking and delivery convenient for residents, offer package handling services or allow them to pick up their packages from inside the building using a contactless system such as Package Concierge. This way, residents won't have to worry about missing packages or theft.
People are accustomed to having their packages delivered directly to their doorsteps — but what happens if they’re not home? A great way to improve resident retention is by letting them know when their packages arrive in real-time via notifications sent by using software system integrations.
Implement an Easy Payment Process
One sure way to improve your community’s resident experience, is to make the payment process easier. You can do this by setting up an easy-to-use payment system through an online portal. The main benefit to using an online portal is that it lets residents see past due or upcoming rental or assessment payments.
In addition, multifamily managers can consider giving incentives to residents who pay their rent early. You can offer perks such as discounts on streaming services, grocery or restaurant delivery—or even a free month of rent.
Provide a List of Local Resources
Residents new to the area may have questions about where to find the best local food, entertainment, and other services. By providing a list of local shops and businesses to residents, it paints the positive image that your staff is interested in creating a warm and welcoming environment for residents.
Additionally, a resource library with information on local schools, food markets, public transportation, and childcare providers helps newcomers, especially families, settle in faster. Information about community events and local businesses will also help residents feel more connected to their surroundings and give them a sense of belonging in the community.
Keep Your Event Calendar Full
Community events empower your residents to spend time together and boost resident retention while reducing potential conflict. Holding monthly or weekly social events are a good way to keep residents engaged with the property and its amenities.
For example, If you have extra space to host events at a swimming pool or clubhouse, use it. Hosting social events will help you maintain a sense of community at your property and encourage residents to interact with one another. It’s also an opportunity to show off your amenities in a great way that encourages engagement.
Also, by integrating a property management tool you can make it easier for tenants to find out about events and activities happening at your property, and RSVP to attend. This helps you keep in touch with your residents on a regular basis and encourages them to get involved.
Here are some ideas on what to include at events:
- Catered food events, with themes or specific food items in season
- Raffle where winners get a variety of free items or amenity usage
- Movie or sports event watch parties
- Off-site outings with discounts to join
Make Staff Accessible to Residents
When residents see how involved your staff is in creating a welcoming community, they'll feel more comfortable speaking with staff about any questions or concerns they may have.
A well-established relationship increases the chance that resident/tenant needs are addressed more quickly and effectively, and creates a safer environment that leads to better KPIs, reduced churn, and a boost in residential satisfaction.
Allow Residents to Set and Customize Unit-Related Instructions
With the ability to customize instructions for staff, residents can enjoy a comfortable living environment with minimal stress. For example, residents can set permission allowing entry for short-term visitors like dog-walkers and home cleaners. Using a property management solution like BuildingLink, instructions placed by residents are viewable by front desk or gate house staff, so permitted guests are able to access the property according to their hosts’ instructions.
With notification customization residents can set preferences for how they receive communication, such as via email or SMS text message. You may have policies requiring residents to opt-in to receiving electronic communication, and leveraging a property management solution will let your residents easily control how they receive messages. Residents can also choose what type of notifications they want to receive, like community-wide notices or updates to maintenance work orders they have placed. This makes them feel better connected to the community while also giving them time back in their day by not having to sort through unnecessary requests that aren't relevant to them personally.
Do More for Your Residents with BuildingLink
Resident experience is crucial to the success of any property management company. A poor resident experience will lead to low occupancy rates and low revenue while an outstanding resident experience retains tenants, attracts new ones, and even boosts your property’s value.
Property managers can provide residents with a comfortable living and community experience by integrating building management and resident services into one streamlined platform.
Let us show you the way to a memorable residential experience by booking a demo and talking with one of our experts.