Improving Resident Retention Amongst Your Properties

6/28/2021

Improving Resident Retention amongst Your Properties | Peter Bubel | Reading Real Estate

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Improving Resident Retention amongst Your Properties

by Peter Bubel | Jun 25, 2021 | Blogs, Luxury Real Estate, Peter Bubel, Peter's Blog, Property Management, Real Estate

Retaining residents for long on a property is always a daunting task. Many of them will move to newer residents, buy their own homes, or change homes. However, every property manager or owner should make it their life goal to ensure they retain as many residents as possible in their properties for an extended period. One does this by ensuring the residents are comfortable and appreciated. This article will highlight crucial ways one can improve resident retention in their properties.

Embracing Technology Owners should ensure they introduce alternative ways to make life easier for the residents. For instance, they should introduce easy and convenient payment methods and communication channels like texting when they need to pass information or request peterbubelpropertymanagement.com/improving-resident-retention-amongst-your-properties/

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6/28/2021

Improving Resident Retention amongst Your Properties | Peter Bubel | Reading Real Estate

something from the residents. Moreover, residents expect prompt service to their complaints, and embracing technology will help with the promptness.

Regular Property Maintenance Properties deteriorate with time. Property management companies should ensure they regularly carry out maintenance of their property to keep it in great condition. Basic things like repainting, replacing broken features in and outside the property are crucial.

Additional modern features like automated smart home appliances would be a great incentive to retain the residents. The managers should ensure their properties get modern features as they come to make sure they can compete with the rest.

Appreciate the Residents More Showing the residents, the property owners, and the management how much they mean is great for showing appreciation. In addition, the management should appreciate the residents by offering them thoughtful gifts for renewed contracts as an incentive to continue staying on the property. Also, including additional features like hot water, a swimming pool, planting flowers, and improving the property’s aesthetic value are great ways to appreciate the residents. Finally, ensuring the clients know their continued loyalty gets appreciated will keep them around for longer.

Enhance A Sense Of Community Humans are social beings. Creating a sense of community and togetherness among the residents will give them a sense of belonging. When people feel like they belong, they don’t leave easily. Activities like meet and greets, holiday parties, and get-togethers are ways to bring the residents together. Bringing them together will ensure they interact and know each other. The bond they create makes it hard for them to leave.

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6/28/2021

Improving Resident Retention amongst Your Properties | Peter Bubel | Reading Real Estate

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