With the new year comes many new opportunities. Are you looking for a way to upgrade your community? New Year’s resolutions are not just for people, they work for multifamily too! Here are some ways to level up in 2020.
1. Host a Resident Event Each Season
Getting residents involved in the community has several positive effects. Neighborly bonding fosters community, which results in lower turnover and better reviews. Managers can put faces with names for their tenants, and vice versa. Residents can also explore all the amenities you offer, which results in higher referral rates. Lastly, you can use the opportunity to connect with other local businesses.
2. Reward Employees
While this one may seem like a no-brainer, it is something that often gets overlooked. Employees who are satisfied with their job will treat potential residents better. More importantly, when potential or current residents enter your office, they can get a sense of the atmosphere. Furthermore, when employees are incentivized, they are more likely to improve their performance and meet goals and deadlines. It’s a win/win for everyone.
3. Update at Least One Amenity
It may not seem like much, but updating amenities has an incredible ROI. Studies show that renters are willing to pay more for certain amenities, such as outdoor space, a nice gym, or a dog park. This will not only pay off in the long run for your current renters, but it will allow you to attract future tenants as well. If you are unsure of where to start, having a poll for your residents will let you know exactly what they are thinking. To encourage participation, hold it at a community event where there is free food and offer a gift card raffle.
For more information on how you can improve your apartment community, contact us today!Back to all posts