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The State of Resident Experience Management Report

Fresh industry insights from multifamily operators and recommendations on improving the resident experience  

In this free 78-page guide, you’ll learn:

  • What Resident Experience Management is and why it matters to your business
  • How resident experience influences acquisition and retention at multifamily communities
  • Key takeaways from our survey findings and how they impact resident turnover
  • Recommendations to build a best-in-class resident experience in today’s competitive market

What is Resident Experience Management?

“Resident Experience Management is the manner in which all resident touchpoints can be improved in order to deliver remarkable community living experiences. It goes beyond the feel-good aspects of a community to encompass how renters interact with staff and conduct apartment-related tasks like paying rent, granting access to visitors, and reserving amenities.”

Why did we conduct this research?

This is the multifamily industry's first report on Resident Experience Management. “Resident experience” has gone from being a buzzword in the multifamily industry to a significant area of focus for apartment operators. But multifamily companies have differing ideas on what it means, and how to deliver living experiences that retain residents. Because there are so many differing opinions on what comprises an ideal resident experience, we partnered with a third-party research firm to survey multifamily professionals about the topic.

This report analyzes those findings and offers recommendations for providing a stand out resident experience. It will be updated annually, to provide timely analysis and narrative around the impact of resident experience management on resident acquisition and retention.

Top survey findings:

$3,850
average turnover cost per unit when losing a resident
98%
management companies that offer or plan to offer a digital portal or mobile app for communication with management teams in the next 12 months.
50%
average retention rate goal, but many companies are not meeting that goal

Why resident satisfaction is a game changer for multifamily companies

Did you know that 98% of apartment shoppers rely on reviews and ratings when searching for their next home? That’s why outstanding resident experiences set today’s leading multifamily communities apart from their competition. In this market, well-managed apartment living experiences lead to higher resident acquisition and retention – and our proprietary research shows it.

This free 78-page report analyzes survey results gathered in partnership with Strategy Analytics, a third-party research firm. It provides recommendations to build a best-in-class resident experience.

Close to 700 multifamily companies were surveyed to understand today’s Resident Experience Management strategies. Surveys were conducted in April 2021 and were completed by professionals that manage a minimum of 250 multifamily units.

On-demand webinar

Boost retention rates with remarkable resident experiences

Watch our on-demand webinar where we discuss what you can do to boost retention rates at your communities. Our guest speakers talk through their approaches to resident experience management and then we dive into our recommendations for building a best-in-class resident experience.
Watch now

Resident experience meets higher retention

Zego (Powered by PayLease) is a property technology company that frees management companies and community associations to go above and beyond for residents. Zego™ Mobile Doorman, our comprehensive resident experience offering, connects property managers and residents though a customizable mobile app. Our industry-leading features help free up time for your property staff, giving them the flexibility and control needed to master operations and focus on what really matters - resident satisfaction and retention.

Go the extra mile & deliver an extraordinary resident experience

Check out our free report to learn more about key benchmarks on resident experience management and the impact on multifamily communities.

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