Resident relations encompasses many aspects of a resident’s experience in their community. As renters face decisions about renewing or terminating their leases in 2020, resident relations are more important than ever.
In December’s Onsite Insites LIVE! webinar, Lia and Jennifer finish their Pandemic Predictions series with “Resident Relations.” The final webinar in this three-part series explores what management teams can do to improve the resident experience and secure renewals through strengthening the relationship between onsite staff and residents.
Connections are Crucial
Why worry about resident relations? According to the research findings in our COVID-19 National Renter Study, 38.6% of renters said they would not renew their lease. This is a startling statistic, especially given the risk and insecurity associated with the pandemic and its impact on renters. This number proves that even in the middle of a pandemic, renters are willing to move if they’re not happy. Perhaps now more than ever, renters are not willing to give up comfort and reliability when it comes to their living situations – they are seeking it.
Despite rent increases being the leading reason that renters are unwilling to renew, inability to afford rent ranks seventh on the list. It seems that although renters can afford to stay, they are questioning whether or not it’s worth it to do so. The reasons for this disenchantment are cited by renters as office staff, management’s decisions regarding COVID-19, and issues with neighbors.
This is what resident relations is about. Three of the top 5 reasons that renters give for not very likely to renew point directly to the relationships between the onsite staff and residents. Renters expect accountability and communication from management. Is management reachable and quick to reply? Do they seem to care about improving resident experiences or are phoning in their performance, similar to canned review responses? Resident relations can make or break a renewal, and it’s up to you to ensure that you address renter concerns or risk losing them to the competition.
Be Responsive, Get Renewals
This is an essential time to build and keep key relationships. The most important traits when dealing with resident relations are visibility, flexibility, thoughtfulness, and relatability. Keep them in mind, and you’ll have happy residents in no time!
Think long-term, not just in the context of 2020. Your decisions impact your community and how you communicate these changes plays a huge role in a resident’s response. Change what you can when it comes to issues with noisy neighbors or response times to other issues, and find ways to brainstorm around what you can’t do. Some complaints can’t be resolved, but you can always strive to be as kind and communicative as possible.
Communities Are Built on Relationships
Residents need a sense of community to support their decision to renew. How management responds to their concerns can be used as either a pro or a con on their list of reasons to renew. Know that renters want to be heard, and even your acknowledgment of an issue can count as a positive when it comes to their perception of the community.
Watch the Recording Now!
Want more info about this topic? Watch the webinar recording and learn even more about how to keep renters happy during the pandemic!
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