Resident Retention Ideas To Share With Your Management Team

Resident Retention Ideas To Share With Your Management Team

Empty condos cost money. If you’re managing several properties, you’re also looking for resident retention ideas.

Your goal – and one that your management team should also have – is to keep those properties occupied. The easiest way to do that is to create an environment where residents want to stay.

Condo buyers and residents want one thing: a condo community that runs efficiently and offers good customer service from the property management company.

The good news is that this is entirely within your control.

Resident retention ideas don’t have to be elaborate or expensive to work, either.  While most people think about community events or promoting the benefits of their condo communities, other resident retention ideas center around the human factor – specifically, customer service and efficiency.  Share these tips with your on-site property managers and watch your retention rates skyrocket.

Resident retention ideas your managers will love

Let’s be honest, you want happy residents, but you also want your property managers to be happy and  able to work efficiently. Plus, human nature demonstrates time and again that it is much easier to follow through with something we enjoy doing.

Offer unparalleled customer service

Plain and simple – good customer service works. Your management team should be the best customer service team around. Your condo properties may or may not have the latest and greatest amenities, but if there is one universal desire, it is for the best in customer service.

Statistics from Insight Squared show that only 1% of customers feel like they always get good customer service, and 73% of consumers rate friendly customer service as a top reason for choosing a specific brand. And while these statistics are geared toward the retail and service industry, I think it is safe to extrapolate and say that the same principles apply.

If you want to keep your condo residents and attract new residents, customer service has to be a priority for your managers.

Ensure work is done in a timely fashion

I’ve had the luxury of living on a street that was under construction for an entire summer not once, but twice. There are certainly worse problems to have, but as you can imagine, it is quite frustrating to hear jackhammers at 7 a.m., while a smelly dumpster sits across the street for weeks at a time.

What does this mean for your property managers? Simply that work should be done in a timely fashion. You don’t want work orders getting lost in a pile of papers or shifted down the to-do list. Taking care of work orders, repairs, and maintenance will keep your residents happy and content.

Use a modern condo management software

A good software system for your condo properties can do wonders for your resident retention rates. When you look for a condo management software, make sure it meets all of your needs. At a minimum, it should allow residents to book facilities, receive notifications from property managers, and let you track analytics from multiple properties.

If you’re looking for condo management software, look no further. Contact us for a demonstration, and you’ll see firsthand how we can streamline all of your processes. The better the business runs, the less resident retention ideas you’ll need in the future!

A little goes a long way

Customer service in a condo is about making sure work is done in a timely fashion, making communication easy with a condo management software, and about excellent customer service skills in general. Resident events and community activities are also tried and true winners. But when you want to take it to the next level, it’s the details that count. The little things we often overlook are the very things that can make or break a customer service experience.

The residents in your condo community are going to have a hard time thinking about moving out if they know how much the management team cares about them. What does that look like? A birthday card with a handwritten note, a few minutes walking the property grounds and chatting with residents, or free breakfast Friday once a month can all add value to the resident experience.

Wouldn’t it be great if you could have someone else make your coffee on a Friday morning?

Your management team is one of the most important elements to resident retention. Your job is to make it easy for them to be great, so don’t forget, when sharing these resident retention ideas, that you get their feedback. After all, he or she knows the residents and the property better than anyone.

At Evercondo, our goal is to make condo living as fantastic as we know it can be. Evercondo makes it easy for you and your management team to efficiently and effectively manage multiple condo properties, from work orders to communications. Contact us for a demonstration, and we’ll show you how we can facilitate communication throughout your condo association, from owners to property managers.

What resident retention ideas would you add to this? What is most important to your condo residents? Let us know in the comments.