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Boost retention rates with remarkable resident experiences
Resident experience has become one of the most important selling points of multifamily communities. Many communities offer the same amenities and competitive rent, but the way they differentiate themselves is by going above and beyond for residents. Wondering what resident experience means - or how managing it effectively can pay off in the short and long-run?
Listen to our on-demand recording where we cover:
- Why leading multifamily companies are shifting focus towards resident experience
- What are the key survey findings from Zego’s proprietary research report on resident experience management
- What Zego’s recommendations are to build a best-in-class resident experience at your communities
- Which proven resident experience management strategies have driven growth at companies like The Donaldson Group, LLC and NRP Group
- How Zego's resident experience mobile app solution looks and functions
Chief Revenue officer
The Donaldson Group, LLC
Senior Vice President of Asset Management
The NRP Group
Director of Marketing
Director of Client Services
Hear from our experts in our on-demand webinar
Believing in resident experience and delivering on it is a tough balancing act for staff. After all, community managers juggle plenty of tasks on a daily basis, and it’s easy for the operational aspects of community management to overshadow resident experience-focused initiatives. But that mindset brings consequences.
The turnover that stems from unsatisfied residents creates a constant cycle of additional work that falls on your on-site teams. Plus, there are financial impacts. The average turnover cost for one unit is approximately $4,000 - vacancy loss days, marketing, and maintenance costs. Conversely, communities who focus on resident satisfaction see reduced turnover and more unique opportunities to thrive.
In this on-demand recording, we take a deep dive into our key survey finding that helped us shape our 7 recommendations to build a superior resident experience:
- Provide a world-class move-in experience
- Keep your community well maintained and offer a pleasing ambiance
- Build a vibrant community
- Enhance management communication and responsiveness
- Improve maintenance services and response times
- Survey your residents
- Actively manage the renewal process
We go into detail about what you can do to boost your retention rate with each of these factors. Then, guest speakers make this methodology come to life by talking through their approaches to resident experience management. Finally, we wrap up with a quick demo of our mobile resident app, so you can see the ins-and-outs of a leading resident experience management platform.
What is Resident Experience Management?
As renters’ expectations have evolved, so has the need for curated lifestyle offerings that go beyond the physical spaces and feel-good aspects of a community. The modern renter finds value rooted in experiences and seeks greater convenience, connectivity, and self-service when it comes to day-to-day apartment living.
Resident Experience Management is the manner in which all resident touchpoints can be improved in order to deliver remarkable community living experiences.