Resident Retention Idea - Coupon Parties

After visiting several sites recently in one of our regions, I realized that morale was down, staff members weren't having much fun (largely due to the pressures of the economy/losing residents/difficult cost cutting measures), and they were all wanting more ideas that cost little to no money so they can hang on to each and every resident.  I thought I should tackle morale first.

We decided to create a company wide leasing campaign and modeled it after the reality show "The Biggest Loser".  The contest goals are:

• losing as much vacancy fat as possible in 60 days
• Maintain 1.5% delinquency or lower
• weight check-ins each week (they start at a specific weight and gain/lose weight based on a point system for move ins, move outs, renewals etc.
• team enthusiasm (who exhibits the most creative tracking visual onsite)

We kicked it off at our annual manager's meeting in February and the regional managers were all dressed as personal trainers (but with a twist from the 80's...I'll let your imaginations run with this but I will tell you that we did have a Richard Simmons look-a-like present).  Our fearless leader wore a fat suit because he needs their help in losing all of this vacancy fat...it was quite the rollout!

Each week I send out a "diet tip" to help them with their weight loss program.  I thought I'd share the second week's diet tip with you all because I think it's a great low to no cost idea and would help our residents in tightening that spending belt and teach them better saving habits.  Plus this is a great way to get your residents through your front door so you can further build a relationship with them!

Here you go....

Diet Tip #2 - Resident Retention - Coupon Parties

It's a sign of the times...who would think it's actually COOL and HIP to be a frugal shopper and hunt for deals/discounts and BIG sales.  Now you can help your residents learn how to save even more money on something as important as groceries.  Think about it, we all get mailers, coupon packs, and some of us still receive the Sunday paper full of great deals.  I'm sure you don't use all of the coupons you receive, so why not share with others right in your own community?

How to make it work:

• Have a coupon exchange center where residents can leave/take coupons on their own - you would need to manage this as coupons expire and potentially buy a Sunday paper each week.
• Hold a resident function/party to have a coupon sharing evening making it even easier for residents to meet other neighbors - you may even just get more renewals!! Plus this is a great way to get in front of your residents and be a part of helping them save money in their every day life. The best part - totally free for you and your residents!
• Take a look at this website to learn how two housewives have developed an entire program to teach others how to really cut your grocery bill in half or more.

Website to learn more:  http://www.becentsablemember.net/

Who knows....maybe you'll actually pick up some tips to save on your own grocery bill the next time you shop. 

Check out this ABC video (this was my inspiration for the diet tip)

Coupon Parties

http://abcnews.go.com/Video/playerIndex?id=6862387

Thanks - Tammy Elam