Challenge: Building the Perfect Resident Renewal Letter

In a past blog, I dissected a renewal letter that I had once received as an apartment resident. The goal was to look at the letter from a resident's perspective to understand how effective it was at actually renewing that resident. I got a comment recently that was... concerned... that I had not provided a good example renewal letter. So I thought that might be a fun project for the MFI community to build our own!

First challenge: What elements should be included in a renewal letter?

(For the sake of this challenge, let's assume that the renewal letter is doing all the "heavy lifting" of the renewal. Even though it is probably best for a leasing consultant to reach out directly, let's try to create the renewal letter is the only form of contact.)

My letter is lame and boring! So when you find the perfect one, please share it.

That's why we are building our own, Rose! First question is what elements should we be including in the letter itself? Here are a few I can think of:

1) Benefits to living at the community
2) The price
3) If there is an increase, why there is an increase
4) Indication that the community actually does want them to stay!

What other elements should be included in the renewal letter?

I would say
1)A response deadline
2)how to respond if they want to renew(call,come in, etc.)
3)We charge a month to month fee so if they do not call and renew it is automatically going month to month so we put that in our letters as well.

I just had an experience in my renewal letter that said "...goes month to month." Well, they thought it was at the renewal rate. We charge an extra fee for month to month leases. That wasn't clear in my renewal letter. It is now.

I've always liked have it addressed to all occupants and pets as opposed to the standard Dear Resident.

John, Rosie, and Fido

Can you believe it's been a year?

I like this one!

I address mine to the residents using their full names on the envelope and at the top of the letter, but then I use their preferred nickname to start the letter greeting.

Such as:

"Michael and Elizabeth Smith" on the envelope, and

Dear Mike & Liz, on the inside.