As a property manager, one of your main goals is likely to improve resident renewals. One way to achieve this is by using a resident engagement app. A resident engagement app is a software platform that allows you to communicate with residents and create a sense of community within your property. In this blog post, we'll discuss the benefits of using a resident engagement app, why resident renewals are important, and how a resident engagement app can improve renewals.
Importance of Resident Renewals
Resident renewals are essential to the success of your property. Not only do they create stable revenue streams, but they also help reduce turnover costs. When residents renew their leases, you don't have to spend time and money on finding new tenants, screening them, and preparing the unit for move-in. Furthermore, it's easier to retain existing residents than to attract new ones. Happy residents are more likely to recommend your property to their friends and family, creating an upward growth trajectory.
How a Resident Engagement App Can Improve Renewals
A resident engagement app has many benefits that can help improve resident renewals. First, it increases communication with residents. You can send notifications, surveys, and newsletters to keep residents updated with the latest events and news. Second, it increases resident satisfaction. With the app, residents can access all the information they need and provide feedback directly. You can also respond to their inquiries in real time, creating a fast resolution process. Third, it creates a sense of community. You can use the app to organize community events, chats, groups, and forums. This creates a perception of exclusivity, which increases resident loyalty.
Features of a Resident Engagement App
Different resident engagement apps offer different features - so choose wisely. Here are some of the features you should consider:
- Real-time messaging
- Community events calendar
- Service request management
- In-app payments
- Surveys and feedback
- Newsletters and notifications
- Social media integration
Using a Resident Engagement App to Improve Renewals
To make the most of your resident engagement app, you should set it up correctly, promote it to residents, listen to their feedback, and measure its success. To set it up correctly, you should enter all relevant information, such as resident contact information, events, and services. To promote it to residents, you could offer an onboarding session, give away prizes or make it a requirement for event sign-ups. A great way to listen to resident feedback is to create an in-app feedback form or forum where residents can make suggestions or ask questions. Finally, you should measure the success of the app by tracking metrics, such as resident engagement, retention rate, and satisfaction.
A resident engagement app can be a powerful tool to improve resident renewals. By increasing communication, satisfaction, community, and loyalty, you'll be building a strong foundation for your property's success. Consider the features of the app, successful strategies, and tips that we've outlined in this post to ensure you get the most out of your resident engagement app. It's worth the effort, and your residents will appreciate it too. Elevated Living’s Resident Engagement App offers all the features you need to create events, stay connected, and schedule maintenance. Visit our website to know more details.