According to a survey conducted by Kingsley Associates, resident renewal intent has declined nationally over the past year. While location and rent rates were among the top reasons for the decline in renewal intent, community management also ranked as an important reason why residents would not renew their leases for another term. Is your property staff unknowingly driving residents away?
The National Apartment Association states that “forgotten residents” are some of the least likely to renew their leases. Forgotten residents are those who have been given great amounts of attention during the lease signing process, but feel virtually ignored while living in the unit. Whether it’s lease questions that go unanswered or ignored maintenance issues, these forgotten residents will likely remember how they were treated and consider renting elsewhere when it’s time to renew.
Since excellent customer service leads to more satisfied residents, training a personable and helpful property staff is a key factor in ensuring that resident renewal intent does not decline. Offering residents convenient options such as online bill pay, extended property office hours, community events, and online live chat support can help to reinforce that residents are valued throughout the entire length of their lease.
The same level of customer service should be provided by the companies your property chooses to partner with. As a utility submetering company with an in-house customer service department, WaterWatch Corporation recognizes the importance of convenience and support for residents. Learn more about our views on customer service here.