Resident Retention Needs Your Attention!

The cost of losing residents has skyrocketed. Loss to vacancy, refurbishing/updating the apartment, lost time spent on maintenance/repairs, marketing expense, and staff time is costly. Resident retention and keeping high occupancy is a challenge, especially in these uncertain times.

In this class, we will discuss the cost of an apartment sitting vacant and techniques for getting your residents to renew. Marketing to existing residents reduces turnover and is more important than spending your resources to bring new residents to the door.

Areas Covered:-

• Ideas for helping residents feel at home
• Renewal letters that work
• Maintaining loyalty through customer service
• Renewal letter samples, right and wrong!
• Why do some residents leave and others stay
• Understand “A bird in the hand is worth 2 in the bush”
• Focus on “customer service” to cut moveouts.

Background:-

The national turnover of residents is over 50 percent annually. This takes a toll on the staff as well as a financial burden on the ownership. Often the marketing budget is spent on attracting new residents versus keeping the existing residents.

Why Should You Attend:-

Develop a retention plan, and train your team to cut turnover.

Who will Benefit:-

All staff/at every level