Apartment dwellers are known for their short term at apartments, but sometimes it’s not because of the lifestyle — it’s because of how they feel in the apartment. It’s important you welcome new residents to your property, even after they’ve signed the lease. By giving them a sense of community and belonging they’re more likely to renew their lease when the time comes — making it easier for you to keep up revenue.
Do a Follow Up Shortly After Move-In
You don’t want to be right there while your tenants are trying to move in, but a few days or a week after you might want to send a follow up email, newsletter or phone call to see how they’re adjusting. If there is money in the budget, consider giving them a welcome gift. It doesn’t have to be extravagant and it could even be just a $10 gift card to a local store or restaurant in the area. Some other inexpensive welcome gifts can include pens, magnets, reusable grocery bags or even a key chain or coffee mug.
Always Respond Quickly to New Renters
You want a good first impression on your new tenants. Always respond to phone calls and emails as fast as possible to show your new renters you care about their concerns. Don’t just seem interested at the start. You need to remain responsive throughout the duration of their lease to make a positive lasting impression. Even if you cannot come to a solution to their inquiry, acknowledge it has been received and that you’re working fast to fix the issue.
Create Social Activities to Welcome New Residents
Having a sense of belonging is important in a new community. Consider every quarter or once a year hosting a welcome party. At this event new residents and current residents come together to mix and mingle and get to know one another. In the summer, host a pool party or barbecue. It doesn’t have to be lavish, but by taking the steps to help everyone become more comfortable in your community you’re increasing the chances they’ll want to stay.
Make Sure New Renters Know Who You Are
Most renters have no idea who owns or manages their property. Often they meet with office staff to view the apartment and sign the lease. Instead of just being a name, welcome new residents in person. Make sure you meet every new resident and be more than just a name on a business card. Whether you’re the property manager or owner, having a presence is important when it comes time for your tenants to renew their lease.
Just by taking the extra time to welcome new residents you can increase the likelihood they will renew. Because turnover is high it’s important you try to keep the tenants you have. After all it costs more to attract new tenants and fill vacancies than it does to keep current residents happy.