We get caught up in the hustle & bustle of everyday life on our properties & forget that without our residents, there is no money. Without our residents, there is no need for property staff. So how do we show our residents that we are grateful for them?

Oh sure we all have our stories, some nice, some not so nice about our residents. What I want us to focus on ~ to think about, are the MANY residents that we NEVER hear from. The ones who pay on time, plunge their own toilets, never complain about the dog poop in the hallway or the noisy neighbors above them. How do we show them our gratitude?

Once we attract a good resident, it is very costly to lose them. A vacant apartment costs us money every day it is vacant. And there is the painting, repairs, cleaning, etc that also costs us money!

Our residents bring purpose to our day, they provide the capital to continue in our chosen occupation, they produce our income. Below are few ways to show our appreciation & give them a reason to stay & renew their lease with us.

1. Show our residents RESPECT. Although they do not own the apartment, it is theirs as long as they are one a lease. Give them plenty of notice when you must enter their home. Follow up on all service requests. When a resident comes into the office or we see them on the property, acknowledge them. Ask if there is anything we can do for them. Invite them to join your Facebook Community to stay up to date on happenings at the community. From there, celebrate your residents' achievements, birthdays, community events, share recipes, create photo contests, etc. It becomes a wonderful place to come together as a community as well as a platform for showing gratitude & communicating important information.
2. Be Faithful ~ earn their TRUST. When they have an issue or concern, they want to be heard. Learn to LISTEN to them. Even if you do not have an answer or solution, respond quickly so they know they are heard. If you promise something to a resident, be sure to follow through on it. If you can't do what you promised, explain that to the resident. We can't always do what the resident requests, however, we can be honest! AND sometimes we make mistakes, admit, then fix it! Communication is key to earning trust.
3. Go the EXTRA MILE. Pick up trash, trim the bushes, etc. Pay extra attention to you amenities. Is everything clean & working? Taking care of our property, on the outside, not only makes it look nice, but also shows our residents that we appreciate them & care about their living space. Send birthday cards, anniversary cards, get well cards, etc. A hand written note goes a long way! Offer Pet Sitting for when the resident is out of town.
4. Host RESIDENT EVENTS. Fostering a sense of community & belonging is paramount in the world of multifamily for retention. Events that are themed with food, drinks & even giveaways are a fantastic way to show appreciation. They are also a great way for residents to meet their neighbors. When a resident knows their neighbors, they are much more likely to stay & renew their lease because of these formed relationships. Events can be very inexpensive to hold & can make a huge difference in resident retention. 

If we start applying these resident appreciation ideas, it is likely that our residents will enjoy their time at our Community & be more inclined to sign a new lease with us, even though the rent will probably go up! Showing our residents respect, trust & appreciation always comes back tenfold to resident satisfaction. When residents feel like they are part of the community, they are more likely to renew their leases, refer friends and family, and take pride in their living space. It is a win-win for everyone.