All too often, leasing teams start thinking about resident retention once it’s down to the wire. Retention should be something that you focus on once the resident signs their first lease agreement; your work doesn’t stop simply because you got someone to move in. While it’s easy enough to place all your attention on new leases, don’t forget about the importance of renewals. Keep reading to discover some fun and easy resident retention ideas.
Positive Move-Ins = Easy Retention
For the most part, you will find that residents will stay in your community as long as something negative does not happen or they have a life-changing event. Start them off on the right foot by ensuring a smooth and happy move-in day. Unfortunately, a bad move-in can be all it takes for a resident to look forward to moving out. If you put in the work at the beginning, you won’t have to work as hard towards the end of the lease term to ensure they stay with you.
Make the Process Smooth
The last thing residents want at the end of their lease term is confusion about their options. Get ahead of the game by sending out your lease renewal offers early with clear instructions. You don’t want your residents to have to chase you for answers or feel inconvenienced in any way, as this can be all it takes to push them to a different community. It’s also a great idea to set up an e-sign option so that they can review their new lease agreement in the comfort of their own home and send it back at their earliest convenience.
Offer Resident Events
If you work hard to build a great community bond, it will be hard for residents to leave. Resident events are a great way to help foster a community where neighbors get to know each other, and your staff becomes humanized. Even under the current climate, you can still have virtual events like film nights or even virtual bingo. Always do your part to create an environment where people are happy and healthy, not just for resident retention, but because it’s the right thing to do.
Resident retention is something that should always be on your mind since it is crucial to the success of your community. The above tips are just a few ideas, but there are many unique ways to tackle it in your neighborhood. Do you have any questions? Ask away in the comments below.
