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Resident Relationship Management Eletter: December 2009  

Resident Relationship Coach's Corner: Social Media Time Commitments

In the October/November SatisFactoid Quick Poll, how many hours leasing team members individually spent per week at work communicating on Facebook, Twitter and other social media sites.


While over 44% of respondents indicated they spent no time on these social media sites, nearly 15% indicated they spent 7 or more hours per week on social media at work.  

There is a lot of focus on social media in the marketplace and its potential for resident retention and boosting traffic, but the jury is still out on its effectiveness. In one study presented at the AIM 2009 conference, social media only accounted for .05% of all prospect leads. (.0005 out of 100). As we learn more, one thing is becoming clear: before diving into Twitter, Facebook, or any of these other new venues for potential prospects or building relationships with your existing residents, ensure you have a plan in place of what your goals are, how much time will be devoted toward those goals, what will receive less attention as a result of these new goals, and who is responsible for maintaining the social media presence.

Source: SatisFacts Research, LLC and Jen Piccotti

How satisfied are your residents with how quickly you respond to their requests? Find out through a SatisFacts Annual Resident Survey, because sometimes it’s easier to voice your concerns through a third party survey.

Resident Retention Rx: The Need for Speed

The SatisFacts Index (our national resident satisfaction benchmark) shows that on a scale of 1 to 5, with 5 being the most satisfied and 1 being the least satisfied, residents give their communities a 3.93 for Maintenance Speed. That translates to an "Average" rating. in school terms, that would be a "C."

Choosing to rent offers the luxury of not being responsible for your own repairs when something in the home goes wrong: the oven stops working, the closet is off its tracks, the kitchen faucet is dripping. However, when it takes several days for these requests to be addressed, this positive service becomes a big negative. It starts to feel difficult to be a resident in the community... and maybe it would be easier to get service in the community down the street... who happens to be offering some amazing move-in specials.

Especially during the holiday season, both the leasing and maintenance teams need to be aware of the need for speed. It's not about a resident being impatient, it's about wanting to be comfortable and worry-free in one's own home. Now is a good time to have a staff meeting to address any obstacles that may be delaying service request resolution. It's not a maintenance concern. It's a team concern. Focus on setting up the maintenance team for speed and success.

Source: SatisFacts and Jen Piccotti

Find out what impacts your residents’ renewal decision through our Insite™ and Insite+™ Move-In, Pre-Renewal and Work Order Follow Up Websurvey Programs, because retention is the key to protecting your revenue in this economy.
 

Team Builder: Treat It With Respect

“It’s staggering how many people attend business parties at this time of year and forget to take their business cards.
 
I attended a launch for a book on leadership last week. Eighteen people asked me for my card. When I asked for their card in return seventeen shrugged and made excuses and went off to borrow scraps of paper from the waiter to write down their own information. Only one managed to find a card.
 
We can learn a lot from Japanese business card rituals. The first thing that Japanese business men and women do is exchange cards, and the key to what follows can be summed up in one word: respect. Accept the card as if it were a gift—which it is. Hold it with both hands and take a moment to study what’s written on it. If you can, respond to the card with an interested comment or an observation about something on the card—the person’s title, credentials, location. What you have to understand is that a business card isn't just someone’s name on a piece of paper; it’s their corporate identity. Treat it with the respect the person deserves.
 
I've attended more corporate functions and more business conferences than I can remember. And over and over again, I see men and women taking someone’s business card (when they remember to bring them), flipping it over with barely a glance at what it says, and begin taking notes on the back. Never write on someone’s business card in front of them. If you feel you absolutely have to note something from your conversation and you don't have a pad, ask them if they mind. It’s good manners, and they'll appreciate the gesture.
 
When all this ceremony is done, put the card away in a top pocket, your purse, or your wallet—somewhere that shows respect. Never put the card in your back pocket, where it will get sat on.”
 
 Source: Nick Boothman, Nick’s Boosts http://nicholasboothman.typepad.com/my_weblog/, December 15, 2009

Did you know SatisFacts offers online resident feedback programs? Ask us for a demo, because nearly 60% of your residents want to communicate with you online.


Productivity Pointers: Excerpt from “In Which Holiday Decorating Reminds Me of Several Happiness Lessons”

“5. Enjoy this season and this time of life. In the bustle of every day, and in my desire to get things crossed off my to-do list, sometimes activities like holiday decorating, wrapping presents, or making our special recipe for sweet potatoes can feel like chores. I constantly remind myself to enjoy this season and this time of life. This is a wonderful season of the year, and a wonderful season in the life of my family. One of my daughters still believes in Santa Claus, the other daughter is still ecstatic over a $6 pair of earrings. They’re both excited about spending a day decorating gingerbread houses. It’s my Third Splendid Truth: The days are long, but the years are short. (If you’ve never watched my one-minute video, The Years Are Short, you might enjoy it.)”

Source: The Happiness Project, http://www.happiness-project.com/happiness_project/2009/12/in-which-holiday-decorating-reminds-me-of-several-happiness-lessons.html, December 14, 2009.

Ask SatisFacts about a Work-Time Analysis, because we know you are wondering, “Where does all my time go?”

SatisFacts - Seen, Heard, and Served

Are you a MultiFamily Insider?  Jen is a featured blogger!

Are you LinkedIn? If you are, or if you're thinking about it, click HERE to join our new Resident Retention Group on LinkedIn.  Learn and share best practices on resident retention.

Jen Piccotti has a new blog post! - Resident Retention: Low-Cost/No-Cost Strategies.

Do you Twitter? Follow @SFRJen

SatisFacts Resident Relationship Management Services™
In today's challenging economy, it’s critical to protect your revenue. At a cost that is approaching $4,500/move-out, our Resident Relationship Management Services™ (RRM) offer a clear financial benefit by helping clients identify and address the issues impacting unnecessary turnover.

SatisFacts Services That Will Enhance Your Resident Relationships:
 
•    Annual Telephone, Web, and Written Surveys
•    Move-In, Maintenance Follow-Up and Pre-Lease Renewal web surveys
•    Insite™ Move-In, Maintenance Follow-Up and Pre-Lease Renewal web surveys
•    Employee Surveys
•    Work-Time Analysis – a productivity study to identify how your teams are spending their time
•    Custom Research Studies
 
Our ever-growing national client list, which includes many NMHC Top 50 and other leading firms like several NAHB Multifamily's Pillars of the Industry Management Companies of the Year, is evidence of the impressive impact our reports can have on the economic performance of your portfolio. What drives the value for our clients is our unique, timely, powerful, affordable and statistically reliable approach to tracking and reporting satisfaction.

SatisFacts has certainly caught the industry's eye, as evidenced by Doug Miller and Jen Piccotti being selected to speak regularly at the Multi-Housing World Conference, NAA Conference/Expo, and many local apartment associations. In addition, they are both frequently published in leading industry publications such as NAA's Units Magazine. Doug is also an Industry Expert on Multifamily Pro's Marketing Bulletin Board and a facilitator at their annual Brainstorming conference. SatisFacts is a proud member of the National Apartment Association's exclusive National Supplier Council, as well as the National Multi-Housing Council.
 
Client updates

•    California-based client renews contract for Annual Telesurveys for its regional portfolio.

•    California-based client contracts for Annual Websurveys for additional properties for its regional portfolio

•    California-based new client contracts for Annual Websurvey pilot for its regional portfolio

•    Connecticut-based new client contracts for Annual Websurveys and Written Surveys for its regional portfolio.

•    Florida-based new client contracts for Insite program its national portfolio

•    Georgia-based new client contracts for Annual Websurveys for its regional portfolio

•    Georgia-based new client contracts for Annual Websurvey pilot for its regional portfolio

•    Illinois-based client renews contracts for Annual Telesurveys for its regional portfolio

•    Illinois-based client contracts for Annual Telesurveys for additional properties for its regional portfolio.

•    Massachusetts-based client renews contract for Annual Telesurveys for its national portfolio.

•    Massachusetts-based NMHC Top 50 client contracts for Insite pilot for its national portfolio

•    Massachusetts-based NMHC Top 50 client contracts for Annual Websurvey pilot for its national portfolio

•    Michigan-based new client contracts for Annual Websurvey pilot for its regional portfolio

•    Missouri-based client contracts for Annual Websurveys for additional properties to its regional portfolio.

•    New Jersey-based new client contracts for Annual Written Surveys for its regional portfolio.

•    Rhode Island-based NMHC Top 50 client renews contracts for Annual Telesurvey for its national portfolio

•    Utah-based client renews contracts for Annual Websurveys for its regional portfolio

•    Virginia-based client renews contracts for Annual Websurveys for its national portfolio

 

 
   
 
 

Contact SatisFacts
Address:
2360 W. Joppa Road
Suite 322
Lutherville, MD 21093

Phone:
866.655.1490

Fax:
866.655.1491

Email:
info@satisfacts.com

Latest News
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Doug Miller & Jen Piccotti selected as presenters at the 2010 NAA Education Conference (New Orleans, June 24-26): “Increasing NOI and Asset Value - The Case for Attention to Retention

10.13.09
CallSource's eletter names SatisFacts VP Jen Piccotti "quality assurance guru" and Multifamily Insiders names Jen blogger of the month

09.09.09
Calculate the NOI Impact of Reducing Your Turnover
click here...

06.01.09 SatisFacts Announces New Strategic Alliances With Industry Partners
read more...


 

 
     
 
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