Resident Retention

This guide has everything you need to host a successful treat baking event in your community - from downloadable recipe cards, to links on where to purchase supplies!  Did you know that baking dog treats is quite simple and requires only a few ingredients?! Hosting a resident baking event is a great way to bring the community together in a really fun and productive way (especially as we get closer to the holiday season). So lets get started...     First, a little background on baking dog treats. We love baking our own dog treats because it's a whole lot simpler than baking human cookies, and much more affordable than buying them! Unlike human cookies, dog treats aren't too scientific. Your residents will certainly have to measure out ingredients but it's truly hard to go wrong. Our favorite thing about baking treats is you can very easily modify almost any recipe to add in your dog's favorite foods, like bacon bits or chicken!   The Basics First and foremost, while we love dogs and love baking for them, this should be a humans-only event. To maintain a safe (and not too chaotic), please make sure all messaging for the event indicates that dogs should stay home awaiting their treats. That being said, it's a very family-friendly event so children are certainly welcome. Hosting a baking event does require a bit more space than an average resident event, as each person (or family) will need a baking work station. We recommend utilizing......

It’s safe to say the tenants you’re targeting have scrolled through social media channels as they woke up this morning, then again at lunch time, traffic stops, drive-thru lines, and more. They’ll continue to shift their attention back to social platforms while taking a break from work, standing in line at the grocery store, watching the news, or brushing their teeth as they prepare for bedtime. For multifamily property managers, social media channels present a can’t-miss opportunity to attract and sway your ideal tenants — if you get the tone and content mix right.   Below you’ll find six ways to make prospects feel seen, educated, inspired or entertained by your social media presence. Mix and match them often to see engagement rise.   1. Humanize your property   You may have heard the adage that people prefer to do business with people, not faceless corporations. When marketing your property, putting a human face and personality on your brick and mortar is an instant rapport builder that helps you stand out from competing properties.   Balance sterile snapshots of empty kitchens or pristine landscapes with warm faces and personal stories, featuring residents, local staff, and more.   A few ideas: Featuring a pet of the month. Resident stories or testimonials, conveying their experiences in their own words. Staff spotlight including personal quirks that make them relatable to readers (e.g., hobbies, favorite spots in the neighborhood, favorite part of their job). Light-hearted content borrowed with permission from tenants (e.g., TikToks, videos or photos shot......

Remember the summer of 2020? When the pandemic was at its peak (or so we thought) and we were desperate for face-to-face quality time with our loved ones? Although social distancing was encouraged, our communities noticed an increase in apartment guest parking. In fact, unauthorized guest parking has been on the rise since the pandemic began.    Maybe a couple decided to move in together, or a university-aged student crashed with mom and dad. Perhaps a renter was subletting or allowing a friend to sleep on their couch. Let’s not forget the possibility that people may have been illegally crashing in empty apartments.   While discussing parking problems, Strong Towns reminds us of the basic fact that parking is complicated. And according to the National Apartment Association, decreasing ratios mean fewer spaces available for residents, more unauthorized guests within our apartment communities, plus additional parking management for staff.    All of these evolving trends have produced both positive and negative byproducts:  Security. You don’t know who is in your community, and where they are staying. Crime. A greater number of unauthorized guests on your property is related to an increase in crime. Revenue. Unauthorized guests may be a source of lost revenue. Abuse. A lack of a solid parking policy encourages further parking abuse.   But here’s the reality: managing your apartment parking is inconvenient and time consuming for your onsite staff team. If you’re ready to track your parking offenders and prevent future unregistered guests, it’s time to revamp your apartment......

Over the past decade or so, the multifamily industry has undeniably become more pet-friendly. Go to industry conferences, and you'll see pet-focused sessions with panelists who have reaped the benefits of relaxing or even eliminating weight and breed restrictions. Visit apartment communities, and you'll likely see an array of amenities – such as fenced dog parks and pet-washing stations – designed to attract and retain pet-owning residents. New data validates these general observations. According to the 2021 Pet-Inclusive Housing Initiative Report, 76% of owner/operators identify their properties as allowing some pets, which reflects a willingness to accommodate pets by a large majority of property owners and operators. But the same report also shows that residents often don't find rental housing as pet-inclusive as they'd like it to be. For example, according to the PIHI report: 72% of surveyed residents say pet-friendly housing is hard to find. 59% say pet-friendly housing is too expensive. 24% say their pet has been a reason for needing to move. 14% have surrendered their pet as a result of their housing situation. Clearly, apartment owners and operators have to be careful and strategic when crafting their pet policies. They have to strike the right balance of welcoming pet-owning residents with  helping non pet-owners feel comfortable, as well as protecting the community’s assets. However, the PIHI report provides a solid general blueprint for how multifamily communities can become more pet inclusive in ways that drive good business results. Among its recommendations for operators: Consider reducing or eliminating dog w......

Resident experience … What a buzz word, right? It’s on everyone’s mind and everyone is talking about it. At least, the properties who care about resident retention are talking about it.   Many of our clients have shared with us that their residents no longer care as much about a large swimming pool; today’s residents care about the experience and services your property provides.   Fostering the resident experience throughout the leasing and move-in process is where the journey starts, but not where it ends. It’s important to give your residents that feeling of “home” by creating intentional opportunities for them to make meaningful connections with their neighbors and by offering them concierge services.   Let’s dig into some of my favorite ways to manage the key touchpoints that affect the resident experience. 1. Make the move-in process seamless. You only get one chance to make a first impression, so you better make a good one — especially in today’s competitive market. Move-in day is what really sets the stage for how your new resident will perceive your property, and whether they will be willing to renew when their lease ends.   If your new residents have a horrible move-in experience, full of hassles, their confidence will tank and it will leave a sour taste in their mouth when thinking of your property.   How do you make this process seamless for them? Try to think through everything they might need, and try to eliminate those points of friction throughout the process.  &nbs......

Fall is fast approaching and you know what that means. Budget season! As you carefully calculate your property management budget for 2022, it’s a perfect time to consider ways to improve your property and resident experience.   To help you be strategic with your finances, we’ve compiled a list of the top three things to budget for in your 2022 plan:  1. Amenities2. Resident Retention3. Property Technology   Amenities Due to the COVID-19 pandemic, your residents are spending more time at home than ever before. As a result, residents are prioritizing different amenities for 2022. This is a unique opportunity for your property to stand out by including more of what today’s renter is looking for.  Desirable community amenities include: • Coworking space: Accommodate the growing work-from-home trend and foster community at your property by adding a coworking space. • Onsite storage: Over 31% of Americans say they wish they had more storage space. Capitalize on this by turning any underutilized space into storage for rent.• Outdoor amenities: Appeal to renters with upgraded outdoor amenities like rooftop patios, dog parks, and community gardens.• Guest parking: Improve the day-to-day lives of your residents by renovating or expanding your parking to accommodate visitors.    You can also increase your property value with in-unit amenities such as: • Onsite laundry: In-unit washers and dryers are a top priority to renters. Although it requires an upfront investment, your rent revenue can increase up to 20 percent!• Heating and cooling: Improvements to your units such as central air conditioning ......

No longer a far-fetched concept reserved to sci-fi movie plots, artificial intelligence is now an indispensable tool in your prospects’ daily routines. Think about it: Chances are you’ve posed a question or two to your favorite AI assistant today, whether that’s Google, Siri, Alexa, or else. Maybe you needed directions to a meeting, store hours for the nearest pharmacy, or a rundown of your calendar appointments — and you had no time or desire to read through a website, call customer support, or click through a handful of dashboards. You wanted answers in seconds, and AI delivered it.  Likewise, the tenants you’re trying to attract have a serious digital addiction and craving for instant answers. It’s why AI leasing assistants are no-brainers in delivering measurable improvements in conversions, engagement, and revenue.     Below are five ways an AI Leasing Assistant will bring more tenants to your properties: 1. Satisfy consumers’ craving for easy self-service and instant gratification Today’s consumers expect the same ease, immediacy, and anytime/anywhere access they enjoy from online retailers and media platforms. Fail to deliver those experiences and they’ll jump ship to a more responsive website, sinking your profits. Astute multifamily property marketers understand that to remain relevant and profitable, they must compete on the battlefield of user experiences, often measured against the ease and speed of Siri or Google. AI Leasing Assistants make that possible.   Speaking of speed and ease, todays’ consumers also don’t want to talk to a sales rep until they’ve completed some basic research, narrowed thei......

One thing that residents will always want in an apartment is as much space as possible for a rental price that they see as justified. However, many multifamily apartment homes are not known for offering a ton of features that increase storage capacity, so when a renter finds a hidden space gem, they’ll pay more for it.    Renters are very familiar with having clutter that easily piles up because of limited storage options; a main drawback of apartment living. When renters feel the need to fill up their floorspace with extra dressers and other storage containers, the livable footage of the apartment becomes smaller and smaller and their frustration grows bigger and bigger.    Providing your renters with increased closet storage capabilities in your multifamily apartment units will not only help you attract more renters, but also make your units more valuable and keep renters leased longer.   If you are looking for an easy renovation project that will increase space and storage in the apartments you own or manage, the best way is to start optimizing your closets.  Optimizing Your Multifamily Closet Space Most closets in multifamily housing units are severely underutilized with sometimes less than 50% of the functional space available being used for storage. Master bedroom closets are where the largest waste of space usually occurs. Many apartment complexes tout walk-in closets as one of the draws to rent from them; however, these closets are not used in a way that actually maximizes storage and space.   T......

Summer is in full swing, which means you can plan some fun activities for your residents. And, since it's warm out, you can host a lot of your events outside, which is more conducive to social distancing. Also, it's just nice to be in fresh air, instead of hunched in front of our computers like we are most of the year. (If I want to be staring at a screen in the middle of the summer, I can be checking Instagram while sitting on a lounge chair, thankyouverymuch.)

Apartment residents, like people everywhere, are absolutely crazy about their pets. Although it may sound cliché, renters feel like their dogs and cats truly are members of their families. The bond between owner and pet is unmistakable.   And a new report highlights the considerable financial benefits owners and operators can reap by being truly pet-inclusive.   According to the 2021 Pet-Inclusive Housing Report from the Michelson Found Animals Foundation and the Human Animal Bond Research Institute, residents in pet-friendly housing stay 21% longer than those in non-pet-friendly housing. This means operators can reduce their turn costs as well as their marketing spends because they're not having to fill vacated units as frequently. Similarly, 83% of owner/operators say pet-friendly vacancies are filled faster, and 79% say the vacancies are easier to fill.   Among the study's other notable findings:   ●      24% of residents say their pet has been a reason for needing to move. ●      14% have surrendered their pet as a result of their housing situation. ●      35% of non-pet-owning residents say they would get a pet if restrictions on their rental housing were lifted.   To better attract and retain pet-owning residents, the report recommends that owners and operators consider the following steps:   ●      Offer a free month of pet rent. ●      Waive pet deposits and instead rely on regular security deposits to cover the minimal damage that pets may cause. ●      Create an easy-to-follow screening process and pet agreement that focuses on well-behaved pets and owners. ●      Formalize the types of p......