Romancing the Renter: Proven Strategies for Higher Retention

Multifamily housing is filled with competition on every street corner. To stand out, operators obviously need to show some love to prospects and residents but the courtship goes beyond dropping off a gift basket. Engaging renters and providing that amazing living experience requires some romancing. The way to their hearts – and their rent – is to offer technologies and services that make their lives simpler while providing ancillary revenue to the property. It’s that certain je ne sais quoi that appeals to the senses of consumers when they’re searching for an apartment or just want a reason to stick around. And delivering what they want, and how they want it. In a recent webcast, RealPage experts discussed emerging trends and resident retention ideas, from empowering resident communication with your staff (and each other) to demonstrating a commitment to 24/7 support to fostering more trust enabling resident feedback. Gaining trust and building a stronger online reputation In a world driven by technology, the tone of the webcast, “Romancing the Renter: Proven Strategies for Higher Retention” naturally drifted to how multifamily operators can increase visibility on the internet. Creating positive online reputation and generating high Google rankings are key to capturing the attention of searchers. Reviews continue to be a focal point of search and Google is weighting them more, according to RealPage data. From 2017-18, reviews grew by 20 percent, adding to their importance when Google determines rankings. Also, comments and reviews on social media are bearing more weight, says RealPage Senior Product Manager Randy Hurn, and property management operators should take them seriously. “Eighty percent of folks who are engaging in social media, those reviews or comments are being viewed almost equivocally as a word-of-mouth statement,” he said. “If we don’t get ahead of that, it can be a negative experience...