It may have already started, but the students are on their way. As more and more student property management teams are trying to understand their residents better, some very clear opportunities are emerging.
1. Student Staff Need Some Extra TLC
Due to the nature of the business, student staff often experience baptism by fire as they are trying to get comfortable in their new role. Do yourselves (and them) a huge favor and offer a 1-page FAQ sheet, so they can offer answers more easily from Day 1. Create a second cheat sheet to help them take affective work orders. List the 10 most common work orders, as well as any associated trouble shooting tips (how to find the reset button) and the best questions to ask in order to provide the best information for the maintenance team. Remember: for some of these students, this is their first job, so lay out basic expectations clearly and don't assume they know your definition of customer service. "Common sense" isn't common until everyone is in on the secret.

2. Set a standard of response time for resident calls and emails:
Students, just like the rest of us, expect instant answers to questions and inquiries. And staff, just like the rest of us, have different definitions of what a “Fast” response is. The more clear the standard is, the easier it is to meet the expectation. Example of a response time standard: All calls and emails received by 3 p.m. will receive a same day response. Any calls and emails received after 3 p.m. will receive a response no later than 10 a.m. the following day.

3. Ensure your amenity is an asset and not a liability
If you offer perks, such as free Wi-Fi, a movie theater, or volleyball courts, make sure they work properly and it's easy to use them! If the free internet service is always "down" or so slow that's it's not worth the effort, all you have created is a negative. Or if the volleyball net is always ripped or there are no volleyballs available for checkout, it's just an eyesore. Not only will the students be irritated, their parents will weigh in with their opinions as well.

According to the new SatisFacts Student Housing Index, the average overall satisfaction score for students is .25 points lower than the national average for all multifamily living. It may be easy to say the students' expectations are just too high, but it may be that as property managers, we're focusing on the wrong things. Make it easy to live there, be responsive to answer the dozens and dozens of questions that come up daily, and you will keep those students throughout their education and experience referrals for the years to come.

How annoying are bugs? Very! And with summer, we often see an onslaught of bug invasions. Along with the pretty appearances of butterflies and fireflies, we've got to deal with mosquitoes, gnats and worse. We don't necessarily mind them outdoors, but when they start making themselves at home in our home - well, that's a problem!  Ant invasions, spiders in every corner, swarming termites, wasp nests, and dare I even mention the bed bugs stowing away in our vacationing residents’ luggage? It should come as no surprise that when asked in our annual resident satisfaction surveys why residents don't indicate they are "Very Likely" to renew their leases, "Pests/Bugs" are in the top ten reasons!  The good news: You can do something about this!

Meet with the exterminating service under contract and make sure they are made aware of the company’s and residents’ expectations.  If you have applicable survey results, they should be shared with the vendor so the issue can be put in perspective in terms of its impact on resident satisfaction. Ensure your vendor is made aware that their performance will be monitored.  In addition, have the service provider tour selected apartments and common areas with the staff to evaluate them.  An action plan to remedy any issues should be requested.  If the property has a solid, long-term relationship with the provider, then the tone of discussions should be from a “partner” perspective; if a new service provider, the tone may need to be stronger, with severe cases requiring the provider be put on notice with a specific time period to rectify the issues. Notify your residents of what the service provider is doing, so they understand the problem is being addressed from a management perspective.

From a customer service perspective, show your residents that you are taking the bull by the horns and provide a summer pest control tip sheet for pest problems that are common to your geographic region. For example, if ants are a local problem, provide tips and suggestions on what residents can do to minimize ant infestations: store cereals or crackers in airtight containers; don't leave dirty dishes in the sink, etc. This shows residents you are aware of the problem and are taking an active role in providing solutions for the issue. Educate your residents on how to prevent other infestations, such as bed bugs or fleas.

Touch up paint for the entry? The deposit will cover it. Tub needs new caulking? The deposit will cover it. The carpet is 7 years old and it's looking terrible from all that daily wear and tear. It's going to need to be replaced... the deposit... Hmm. The unit is sitting empty for 10 days, 20 days, 30 days. The deposit?

It has not been that long ago that conventional wisdom said that turnover was not a bad thing. In fact, it was a good thing because more often than not, the unit could be re-rented for a higher monthly rate.  It's time to take a closer look at that "old wives' tale" and examine the facts, and not just because the economy has been challenging. It's time to take a closer look because often, I believe, our industry may not be looking at the whole picture when it comes to true turnover costs.

You go to a fast food place, the receipt asks you to take a survey. You go to the store, the receipt asks you to take a survey. You go to the dentist, a survey shows up in your inbox the next morning. You stay at a hotel, there's a survey at your bedside.

"What's it all for?" you might ask. The real purpose of any feedback program is to identify areas of strength in order to leverage them more effectively and also to identify weaknesses in order to improve. Rewarding proven success in improving the customer experience over time can be a great motivator for individuals and teams to get creative and take pride in their service delivery. However, too much focus on the reward aspect can place a team's focus on the wrong things and for the wrong reasons.

Two recent personal examples:

On average, Leasing Consultants spend more than 50% of their time on existing residents. Leasing offices are used by and for existing residents more than half of the time. Don't fight it. Wrap your arms around the fact that the majority of your time is devoted to existing residents, and give that fact a nice, big hug. Ahh. I feel better already. Don't you?

"Leasing" may be written on all your documents, name tags, business cards and offices, but "Residents" are what you are mostly about.

What??? That can't be right. And yet, that's the perception residents often have. If a service request has not been completed as quickly as the resident expects, or if something wasn't done quite right, residents will often blame the office staff rather than the maintenance team. Why?

I talk a lot about retention. A Lot. And sometimes I am a little dismissive of the leasing activities that must take place to fill vacant apartments, due to my obsession with retention. However, I think it's terribly important to note that retention begins with the prospect's first impression. Whether with the property, the leasing agent, the toured units, there are some great first impression opportunities. If these opportunities are done well, the prospect won't forget (Yes!). And if it's done poorly, they really won't forget (Oh no!).

I know I'm dipping my toes into dangerous waters here, but I think it's time we take a good, hard look at the data surrounding social media and the hype associated with it. I fear I may be taking my life into my hands, but we've got some new data to work with that may start some very valuable conversation - so to me, it's worth the risk!

The industry marketplace is filled with seminars, tutorials, podcasts, chat rooms and articles on how to get the most out of your social media marketing strategy. There is no denying that our culture is embracing social media in a variety of aspects of life, however, the data is currently showing it has not gained enough of a foothold in the rental housing market to be an effective leasing or community-building strategy. Based on data from SatisFacts’ 4^th Quarter 2009 Annual Resident Satisfaction Surveys, when asked “When you rented at this community, what sources of information did you use to find out about the community?” only 1.24% of residents identified social networking sites, such as Facebook or MySpace…and Twitter was not identified by any respondents.

It's exciting to see so many property management companies and individual communities devote more time and attention to retention efforts. In a recent MFI blog post,  the question was raised regarding the claim that the average resident turnover across the nation is at 60%. While turnover has hovered around 60% for the past several years, according to the annual NAA Income and Expense Survey, we are seeing some bright spots. 

For those organizations who are focusing on the key areas affecting service delivery, it is indeed paying off. According to the new SatisFacts Index that was just released this month, the percentage of residents who say they are "Very Likely to Renew" actually increased over the prior year!

I happened to be in town visiting some relatives when I was invited to go along while my cousin picked up some paperwork for her new apartment. With me, her mom, and an additional aunt in tow, we all trooped into the leasing office of a sizeable community, where a very friendly leasing agent helped us.

I come from an extremely conservative family, so imagine my magnified horror when two of the other leasing agents gabbed at a nearby desk with one telling the other, "It's not really 'stripping.' It takes some serious skill. Besides, I've always been comfortable with my body, and I know my parents would support the idea of me using my dance training. Plus, I can get some fat cash in just one or two nights a week!"