Watch Your StepResident Connections and Retention

Part Three

Jen Piccotti

Lia Nichole Smith

onsite insitesLIVE!

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5 OPPORTUNITI

ES TO CONNECT

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NEIGHBORS

1Be willing to be the mediator and help resolve conflict. Hold lease violators accountable.

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Why not “very likely” to renew?

#3 - NEIGHBORS

What can be done to improve the community?

#8 – BETTER RESIDENTS

2015 SatisFacts Index, Annual Survey

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APARTMENT APPEARANCE

AND CONDITION

2

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4.20 3.932015 SatsiFacts Index, Insite Surveys

Preventive maintenance and checking in on residents to ensure all is well in their home goes a long way in ensuring they’ll stay. Just because you haven’t heard from them doesn’t mean that there are no issues.

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PERCEPTION OF VALUE

3

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3.77 3.372015 SatsiFacts Index, Insite Surveys

“Is it worth it?” This is the question residents are asking themselves at renewal. How are you responding?

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Value Driver Definition

1. Sense of community

The level of connection the resident feels with the management team. VIP treatment; management is looking out for the resident’s best interests.

2. Apartment appearance and condition

The apartment home looks good and functions as it should. Residents have full access to everything they pay for and repairs are made in a timely manner and of high quality.

3. Building exterior appearance and condition

Residents like where they live; sense of pride. The community overall is well kept on a consistent basis.

4. Safety and security The management team is doing their part to minimize safety concerns for the residents. Security features throughout the community are in working order.

5. Office: responsive and dependable

Residents do not have to wait extended periods for the management team to respond to their concerns. Office is available during posted hours and residents are able to communicate with the office after hours for emergencies.

Source: Statistical Analysis By SatisFacts and Chih-Lun (Alan) Yen, Ph.D., Ball State University; July 2013

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COMMUNICATION

PREFERENCES

4

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If the Community needs to contact you, what is your preferred method(s) of contact? 2015Email 65.4%Cell Phone 56.3%Home Phone 20.7%

How would you prefer to communicate with your apartment community staff? 2015Cell Phone 64.3%Email 64.2%In Person 56.2%

2015 SatisFacts Index, Annual Survey

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TIME OF DAY PREFERENCE

S

5

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What time of day would you prefer to be able to communicate with the office staff? 20145PM - 7PM 45.4%2PM - 5PM 35.5%9AM - 12PM 37.1%12PM - 2PM 27.3%7AM - 9AM 19.3%24/7 16.2%7PM - 9PM 13.1%

• After hours procedures• On call personnel• Seasonal changes• Office late night• Resident awareness

2015 SatisFacts Index, Annual Survey

KEY TAKE-A-WAYS #insiteslive

AWARENESS

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Every resident interaction has the potential to ensure or sabotage your renewal efforts.

CONSISTENCY

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How residents feel about the apartment appearance/condition and perception of value should not fluctuate so dramatically. Consistency in processes and making sure residents can see exactly where their money is going is key.

ACCOMMODATE

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Make it easy for residents to get in contact with you – recognize their preferences and communicate with them accordingly whenever possible. It’s not a one size fits all.

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Office SpaceHOW TO FIND AND RETAIN TRUE TALENT

New Series!

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OCTOBERThe Devil Wears Prada

Creating Culture Through Leadership

NOVEMBER9 to 5

Hours That Work For Staff and Residents

DECEMBERThe Intern

How to Win Over Your New Hires