We understand how demanding it is to be a regional or property manager.
Not only do you have to ensure you have the right people to serve the never-ending resident requests, but you also have to be constantly innovating and finding new ways to get an edge over the comps, drive retention, and increase revenues.
Adding a wellness program to your community can help you knock a few of those things off that list, like the competitive advantage, retention and revenues.
Wellness programs? Really.
Yes, really. Here are three ways a program can help:
Gain an edge over your competitors
Prospective residents are more likely to be seriously interested in on-site fitness programming versus the standard of an empty gym and virtual options. In fact, more than 3 times as many residents stated that they would want on-site fitness classes compared to virtual options.
Offering on-site fitness classes and other wellness services creates an environment in which residents can have all aspects of their health and wellness taken care of. Boutique fitness studios like SoulCycle, CorePower and Pure Barre - have seen an unbelievable growth since 2013, and offering these services to residents in their own home is a huge advantage that can differentiate your community from others nearby.
Free up the on-site teams’ time
On-site teams are constantly having to put out fires in different directions, and this leads to added stress in figuring out how to plan an event each month, week or quarter. A curated fitness program can be completely turn-key to your onsite team, so they can focus on other priorities while delivering consistent and enduring opportunities for residents to connect that are more powerful than one-off events.
Adding a wellness program gives the on-site team a chance to breathe, as there are consistent opportunities for their residents to interact and form friendships… all without needing any coordination or energy from the on-site team.
Retain more residents
They say that the best resident is the resident that renews. And when residents have the chance to create friends in their community, their likelihood of renewing goes way up. It’s called the “Friendship Factor” and it’s real.
When residents have 7 or more friends in a community, the likelihood of renewing goes up nearly 70%. That’s what makes a wellness program so valuable - it provides recurring opportunities for residents to interact and get to know each other. And make friends. A lot of them. Providing consistent opportunities for residents to connect creates more connections, friendships, and renewals.