50 Resident Retention Ideas in 50 Hours

It's time to combine the brainstorming power of the Multifamily Insiders community to come up with 50 resident retention ideas in just 50 hours! The clock is ticking, so let's get to it!

1) Apartment Upgrade program for lease renewals. Allow your residents to upgrade one component of their apartment each year they renew, such as an accent wall, upgraded sink fixtures, or ceiling fan. The upgrade stays with the apartment, so you get a benefit for the renewing resident, plus you have improved the unit.

(For every new resident retention idea, number your idea!)

(Also, share this post with your friends to make sure we hit 50 ideas in just 50 hours! So share on Facebook, Twitter, and email!)

2) Know your residents...talk to them...not at them...care. It's as easy as that.

3. BE NICE!

4) Take care of them all year, not just at renewal time. Make sure service requests get done, listen to them, know their names, get to know them, make time for them ALL YEAR. This way when renewal time comes they want to stay bc they feel like they are cared about.

5. Respond to calls and maintenance requests promptly.

6. Work on renewals all year by sending your residents treats and letters every month, not just 90 days before their lease is up. Gum- stick with us. Candy- we're sweet on you, etc.

7. Work on making your residents feel like part of a community by having resident events and getting them involved in living at your community.

8) Bonus privileges the longer they stay. For example, each year have a new “graduation upgrade”. Maybe they begin to get the Purqz benefits after the first renewal. When they hit 5 years, they get their own preferred parking spot. What should they get for 10 years?

Notice them: I love your new car! Is that a new hair style? Taken a vacation lately? Where? Seen a good movie lately...O, I loved that too! How are the kids? How is school going? etc., etc.,

Everyone has something they are interested in.

If you see them leaving with golf clubs every Wednesday...How was you game?

See the kids bouncing a basketball... Are they on a team?

When local schools win championships..recognize it in your newsletter.

Get personal, just not too personal!!!

They love it!

Sandy Martin wrote:
Notice them: I love your new car! Is that a new hair style? Taken a vacation lately? Where? Seen a good movie lately...O, I loved that too! How are the kids? How is school going? etc., etc.,

Everyone has something they are interested in.

If you see them leaving with golf clubs every Wednesday...How was you game?

See the kids bouncing a basketball... Are they on a team?

When local schools win championships..recognize it in your newsletter.

Get personal, just not too personal!!!

They love it!

Sandy- You are 150% correct!!!!! Its all about making that connection!