How to Increase Resident Retention with Effective Property Management
by Ascend Bakersfield Real Estate Brokers in Bakersfield, CATo succeed in property management in Bakersfield,
you need to retain the residents in your property. At every place, looking for
a new tenant is more demanding than maintaining the current ones. Moreover, if
you don't work on resident retention, you won't be able to grow your real
estate business.
So here are some tips to increase resident
retention organically using effective property management techniques.
Be
Available To Residents
One of the best ways to increase resident
retention is by being available to hear their complaints. The residents are the
core of your business, and hence you should be available to them for any
problem.
As a property manager, you should reply to
the queries and problems straight away. Even if you are busy, set up automatic
replies regarding you'll get back to them, or something like that. If you
manage too many properties, you can use chatbots to be available to residents
for their smaller queries.
Increase
Amenities
Another great way you can increase
resident retention is by increasing the amenities you provide at your
properties. A good property
management company in Bakersfield knows that to keep the cash flowing,
you need to keep the residents happy.
You should do frequent renovations and
increase the amenities at your properties. If you manage an entire apartment,
you should include amenities like common areas, rooftop lounges, and even
indoor play areas for children.
Such amenities will be sufficient for most
residents, and they'll love to live at your property. This will eventually
increase your resident retention.
Host
Resident Events
An easy way to keep your residents happy
is by hosting events regularly. For every festival, you can host the event at
the property and invite all the residents. This will prove as a
relationship-building session, and everyone will enjoy it too. Residents are
less likely to move out of the property when they get such treats, ultimately
increasing your retention rates.
You can host fitness events, games nights,
and other events that bring the residents together.
Make
Move-in Easy
If you have an easy move-in procedure,
your resident retention will boost. It is all about the first interaction and
impression. You should be willing to help new residents move into the property
by providing all sorts of support.
Moving to a new place for most people is
hard. To make the moving process more manageable, you should help the residents
fetch their luggage and other items from some other place. You can hire a good property
management company in Bakersfield for providing them assistance during this
time.
You should help new residents by welcoming
them with a gift and also introducing them to the current residents. Also,
providing a checklist for move-in is an excellent idea to build better
relations and increase resident retention.
Complete
Maintenance Tasks Quickly
If you want to boost resident retention,
you need to solve their complaints as quickly as possible. Once a complaint is
brought to you, you should send in people and get it resolved.
Don't avoid the pleas of your residents;
if you do so after some time, you'll have no residents. So it is better that
you complete the maintenance tasks quickly.
Above, you've got to know about some
things that can help you boost resident retention. Keep following these tips,
and it will be easy for you to hire the best
property management company in Bakersfield.
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Created on Oct 15th 2021 06:30. Viewed 267 times.