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Resident Retention: Material Girl
Resident Retention: Material Girl
It’s true that we are living in a material world, but some of us are more cunning in the way we finagle those materials. There are times when the customer’s idea of ‘compromise’ or ’solutions’ has to do with monetary compensation from you to them, regardless of the situation that is in need of resolution. The power was out for 2 hours. Why not a rent credit? The broken sprinkler splattered the newly washed and waxed car. A rent credit would be nice. A check would be nicer. The more aggressive “Material Girls and Boys” may even threaten lawsuits or Fair Housing complaints if they feel they are not getting their way. It’s a fine line we walk when it comes to providing exceptional customer service. After all, the customer is always right, right? Not necessarily.
In the business world, and especially in the multifamily housing world, we have to face the fact that the owner is always #1, and one of the ways we can respect the owner is to treat the resident as though he or she is #1. This means that when a resident wants something for nothing, we have to consider the financial well being and the values of the company first, and the demands of the customer second. Where is the win-win?
- Listen to the problem with empathy and ask for specifics. Find out what the resident believes is a fair solution and why. Try to keep the conversation moving toward what specifically would resolve the problem itself. What is the root or source of the problem?
- Offer a solution – one that is fair and that would be provided to any customer with the same issue. If the sprinkler really was broken and ruined the brand new wash and wax job, the solution to the problem may be a meeting with the landscaping company to fix the sprinkler head and maybe even split the reimbursement of a new car wash for the resident. A $20 resolution with the problem actually being resolved rather than a $250 rent credit that still leaves a broken sprinkler head to cause further problems. This respects the values of the owner in wanting to provide great customer service as well as protecting the owner’s finances.
- Ensure no Fair Housing or discriminatory actions have taken place and stand your ground even when it seems easier to just give in. (Document, document, document.) Once a credit or reimbursement is given, a new precedent and expectation has been set and you can only expect more of the same demands in the future. The goal is to provide a resolution to the actual problem, not throw money to make something go away because guess what? The problem will not go away. It will come back and be even bigger!
What are your strategies for focusing on the solution, not the dollars?
Jen Piccotti is the VP Consulting Services at SatisFacts Research.
