Resident Retention: How to Keep Your Existing Residents

In our pursuit of reaching out to get new customers, we can easily forget at renewal time about those who have lived with us and paid their rent for a year or more.

Property Managers spend so much money on attracting new tenants that it is more economical to keep the existing residents. Turnover costs are expensive, let alone the vacancy loss of at least one month or more, plus other advertising expenses. This can be a real issue for the bottom line. Together, we will review how spending a much smaller amount of money along with some no cost strategies, one can keep your current residents happy and more likely to sign that renewal.

In this session, we will learn that not only how resident retention is important to building long-term relationships within your community but how it also adds value to the property itself.