What Will You Do to Keep Your Residents?

I had a very interesting experience with my television provider last week. I was having an issue with my equipment and they weren't handling it in a way that I felt was appropriate. I became so upset at one point that I asked to speak to a manager. Unfortunately, that person was also of no help. By this time, it just wasn't worth my time to keep arguing and I came out with the ultimate threat...."if you don't take care of my requests, I'll find another provider." To which they replied, "We wish you all the best!" I was shocked they didn't care about me as a customer, so surely I thought my business would be better appreciated elsewhere. I immediately asked to be connected with the cancellation department. A very nice gentleman got on the phone and the first thing he asked me was why I was cancelling. I described my issues and the technical support team's unwillingness to handle them to my satisfaction. He apologized and asked what it would take to keep me as a customer. I told him I would like my issue addressed, and not only did he take care of my problem, he gave me a 1 month credit on my bill! I was very impressed at their willingness to keep me as a customer.

Resident retention is one of the most important parts of your job as a multifamily professional. Contrary to popular belief, keeping the residents you have should take a higher priority over getting new leases. To accomplish this, take a lesson from my television company...go above and beyond to exceed expectations.

Here's my challenge to you...

Anytime a resident has an issue, ask them what they would like for you to do to take care of it. Then, once you've handled it, do something else to go above and beyond their expectations to "wow" them. It could be a small issue or a large one, let the scale of the problem determine what extra thing you do. For example, for ordinary maintenance requests, they expect you just to come in and fix the problem. But after you do so, how about leaving a small gift behind to let them know you appreciate them? You could leave a bag of microwave popcorn that says "we popped in to fix your problem," or a handwritten note apologizing for the inconvenience. For larger issues, like an ongoing problem with noisy neighbors, send a gift certificate for a massage saying "we're sorry for the stress your neighbors have caused you, please go de-stress on us!" Little things like this will go a long way in letting your residents know you appreciate them and will entice them to stay in your community for as long as they can. Should they ever move to buy a home or relocate to a new area, they'll always have a positive impression of your community that they'll pass along to family and friends.

Let me know if you've accepted this challenge! I'd love to hear about all of the unique things you do to go above and beyond your resident's expectations!

Morgan Oney, CAM
For a great resident retention tool, check out the online resident newsletters at www.mynewsletterconnection.com!