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How Caring for Tenants Increases Occupancy

How Caring for Tenants Increases Occupancy

How Caring for Tenants Increases Occupancy

Simon Sinek is described as a “visionary thinker with a rare intellect.” He’s an ethnographer (a type of anthropologist who studies people and cultures), the author of Start with Why: How Great Leaders Inspire Everyone to Take Action, and a phenomenal public speaker. It’s a combination of all these talents that gave him the spotlight at a recent TED2014, in which he discussed how leadership is about making others feel safe.

“Leadership is a choice, not a rank,” says Sinek, explaining that anyone in a company or organization can be a leader. “It’s choosing to look out for the person on your left and to look out for the person on your right.” The principle, in essence, is based on demonstrating sacrificial care and welfare for those you’re charged with protecting and guiding.

In a company, this is the manager who gives up a vacation day in order to provide an employee with a much-needed break. In the apartment complex, this is the manager or owner who cares for tenant wellbeing and goes beyond the expected to demonstrate that care. The result? Increased loyalty and tenancy.

The first step, of course, is accepting that you are, in fact, a leader to your tenants. Then, comes the implementation of some simple actions that will show your tenants how much you care, and earn their trust and loyalty.

Think safety.

Make safety a priority by looking at every detail of your property through the lens of protecting tenants. The pool, the stairs, the landscaping, the parking lot, and the units themselves should be inspected for possible health and safety threats. You fix what needs fixing and then communicate with your tenants about rules and guidelines that will keep them safe. Create a newsletter or email series all about safety on the property. Be creative with your safety sign postings. Instead of a simple sign that says, “Don’t Slip!”, be fun with a creative sign like the following from KeepCalmStudio.

b2ap3_thumbnail_dontslip.png

Create a healthy community.

It’s a safe bet that tenant health doesn’t make the list of concerns or priorities for the average owner or manager; and, this is where you set yourself apart. Caring about the health of your tenants not only helps and benefits them, but benefits you as well by keeping their health expenses low so they can avoid rent payment issues, reducing the risk of disease and illness spreading, and increasing the longevity of loyalty. So, include a health section in that newsletter or email series you’re already drafting with safety tips and give them tips on eating, sleeping, working, and general living better. Partner with a local wellness or health expert to provide expert advice to benefit you, while providing exposure and additional business for the professional.

Consider requests.

It’s real easy to go with status quo, keeping things exactly as they currently are, because…if it ain’t broke. But tenants have the potential to introduce you to ideas that may not only help you keep them and other existing tenants, but attract new prospects as well. It’s all about showing you care. So, consider that community garden, an upgrade to Wi-Fi, or any number of other ideas you may have been presented, as long as they’re reasonable, cost effective, safe, and with add value to the property.

Dr. Bob Nelson, author and world’s leading expert on employee motivation, performance, engagement, recognition and reward, once said, “An employee's motivation is a direct result of the sum of interactions with his or her manager.” And, anyone who’s ever had a manager would likely agree, making it easy to see how the right efforts of a property manager affect the decisions and actions of a tenant. So, we just rewrite the quote: A tenant’s motivation is a direct result of the sum of interactions with his or her property manager.

 

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