How to Attract & Retain Good

MembersBy, Natalie Mabbitt, RCM

& Julie Spear, COS

Attracting & Retaining Good Members Attracting “Good” Members Curb Appeal Staff Image Security Screening Word of Mouth Costs of turnover Customer Satisfaction Culture of Responsiveness

Moment of Truth

“Golden Opportunity”

Our job is to acquire and retain members reducing the overall cost to the Co-Op

First Impressions

Are we sending the right message?

- What is the 1st thing people see when they arrive at your Co-Op?

- 30 seconds= First Impression

Curb Appeal

Create a welcoming atmosphere Keep office free of clutter Make sure office/clubhouse smells inviting-

Plug-ins Grounds cleaned and manicured-

dumpster areas- Scoop the Poop! Entrances to community should shine- 1st

impressions! Common areas should get special attention Show unit route should be litter free

Curb Appeal

Take a “fresh” view periodically of your surroundings.

Decorate your office for Special Occasions & Holidays.

Survey & Inspect property signage Lighting- Is it adequate? Photocell timing.

Curb Appeal

Landscaping Signage Office Clubhouse Model /Make Readies Patios/Balconies Window Coverings Lighting Mailboxes/addresses

Staff Image

What kind of message is your staff sending?

Staff Image

Dress Code-office & maintenance staff Phone Etiquette Body Language Maintenance Staff

You never get a second chance

to make a first impression!

Security

Does your Co-Op seem to be secure? Door and window locks? Deadbolts? Landscaping- Are bushes trimmed? Flowers? Lighting- Is it adequate? Exterior of buildings (power washing) Stairwells/Common Halls Courtesy Officer/Security Company

Screening

Using Screening to Obtain Good Members:

You must have a policy outlining how you will screen for new Members.

This is crucial in order to obtain good Members and protect Members already living in your community.

Screening

Credit Criminal Landlord Reference Income Verification Tenant Selection Plan/Criteria

Word Of Mouth

96% of customers trust personal recommendations 14% of customers trust traditional advertising

What would your customers say about you?

http://youtube/OrmxQm1TqBg

http://crestwood-living.com/sub/testimonials_v.htm

Word of Mouth

Word of Mouth (Your Current Members!)

Your Members are your greatest asset!

Referral Rewards- Make it worth their while!Offer at least a $200 referral reward for each

successful referral.

Reward your Members and it’s less expensive than vacancy loss! It’s a Win Win Situation!

Advertising

Effective and Inexpensive Ways

to Advertise Your Co-Op:

- Word of mouth (current members, applicants, former members)

- Internet (Property Website, Facebook, Twitter, Craigslist)

- Small, Local Newspapers- Outreach Marketing

Costs of Turnover

How much does each move-out impact your bottom line?

Vacancy Loss

Marketing

Rehab Costs

Staff time

The Real Cost of Turnover

Bottom Line:

Totals Costs= $4,000

Turnover Calculator:

http://www.multifamilyinsiders.com/home/

apartments-turnover-cost-calculator

Customer Satisfaction

Are your customers satisfied?

Reality : It takes 5-10 years to pay back moneylost for each move-out

Goal: Take care of current Members to improveperformance….everyone wins!

Strategy: Create an environment where the Member feels like #1

Customer Satisfaction

“The deepest principle in human nature is the craving to be appreciated.”- William James

How many failures comes from simply making the other person feel underappreciated?

Customer Satisfaction

Under Promise and Over- Deliver!

Does anyone know what that means?

Resident Quote

“The staff has not been trained in customer service. Once you sign a lease they are

unresponsive and indifferent to their customers.”

Show the love!

You can’t only show the love on move-in day!

Resident Satisfaction is a crucial decision-making factor in longevity at a community

Retention Myth: Apartment Drives Renewal

Myth: Residents care most about the appearance of their apartment when deciding to stay.

True or False?

Reality: Responsiveness and follow-up by the office staff hasthe highest impact on whether or not your member will remain.

Strategy: Create a “Culture of Responsiveness”

What Matters Most?

Retention Driven by Office Staff Performance

Problem Areas with Greatest impact on Retention

Rank Satisfaction Topic:

1 Office Staff: Promptness of response to calls and emails2 Office Staff: Follow-up on completed service requests3 Office Staff: Responsiveness and dependability4 Office Staff: Courteous and professional5 Apartment: Appearance and condition

Most Turnover is Controllable

60% of turnover is controllable

Enhance value of Co-Op

What drives Members to “find a better deal” or seek greater value?

Communication & Responsiveness!

Maintenance Issues

Fewer Outstanding In-Unit Maintenance Problems on Overall Satisfaction

Members with outstanding maintenance issues are less likely to stay in your

community long-term

Higher Satisfaction

MORE LIKELY TO STAY!

Service Request Performance

Drives Member Satisfaction!

Maintenance cleaned up when finished= 93%

Service request completed properly the 1st time= 82%

Office follow-up up after request completed= 62%

Maintenance problems still exist= 23%

How likely are your Members to stay?

Communication with Members

Can’t communicate if you don’t Communicate!

“Is this still the best number to reach you?”

“I don’t see that we have an email on file

for you. What is the best email to contact

you at home?”

Create a “Culture of Responsiveness”

1. Return all existing member calls and emails.2. Follow-up on all completed service requests3. Follow-up on potential member calls and emails

Residents first…..prospects second.

Communication Response Time Policy

Establish a standard response time. Develop policy?

Example: All calls and emails received by 3 pm willreceive a same day response.

Service Request Response Time Policy

Establish a standard service request response time.Develop policy?

The office staff plays a critical role in how quickly theprocess proceeds

Responsiveness and speed are retention drivers.

How likely is this Member going to stay?

A Member has been waiting for her toilet to be repaired for two days. She goes down to the leasing office to check on her work order and

sees the maintenance staff re-arranging chairs for the office staff.

What’s wrong with this picture?

What Matters Least?

The Cherry on Top!- Resident Events- Facebook- Twitter- Newsletters- Birthday Cards- Move-in Gifts- Etc.

You must 1st deliver world class service on a dailybasis! These things can become distractions to whatmatters most to Members!

Getting them to stay

When does a Member decide whether or not they will stay?

AT MOVE-IN!

It begins with the move in process!

The Move-In Experience

1.Do you have a walk through/approval process?

2. Who decides that a unit is rent ready?

REALITY: The move-in experience sets the stage for the entire residency. 1 out of every 5 move-ins the stage is not set!

STRATEGY: Improve the move-in inspection process!

Move-in Inspection

The “Right” Way to inspect units:

“Walk right”… the final rent ready inspection:

Enter the unit and follow the wall to the right

Check paint each fixture, outlet, switch,

appliance, etc. until ending up back at the

Front door.

Best Practices: Culture of Responsiveness

Create a Culture of Responsiveness:Resident contact info verified and placed into

PM software

Response Priorities: (Members)

Standard response time

Efficient, responsive work order process

Effective and timely communication

Member Updates

****Follow up, follow up, follow up!*****

Customer Service

“Experiences” make us happier

than possessions.

Service is defined by the customer:

Perception IS Reality!

Thank you for attending our

class!Natalie Mabbitt, RCM

& Julie Spear, COS