When it comes to increasing occupancy numbers and reducing turnover, ensuring renter satisfaction is critical. Happy, satisfied renters are more likely to stay put. Make the following four operational improvements immediately to increase renter satisfaction in real and digital time, and you are likely to see your retention rates grow as well.
Around-the-clock email and phone answering can benefit your residents (and therefore, your business) tremendously. Due to workload and staffing, experts estimate 40% of incoming calls are missed in the multifamily industry. By working with a virtual leasing center, you can have someone available to field questions, book appointments, and address concerns at all hours. Such a partner can not only respond to calls and emails when your office is closed but also when it’s open and your staff is handling critical on-site tasks. A recent study found that businesses sending an email response to customers within an hour satisfies 89% of those customers; a response within 15 minutes or fewer is considered world-class customer service.
Today’s tenants—the majority of which are millennials—communicate more frequently by text than phone calls. Using text messages as a way to communicate is not only faster than other communication methods but also easier and less disruptive. Moreover, when it comes to digital correspondence, texting is significantly more effective at conveying information–studies show texts are opened four times more than emails and can make communication easier and more convenient.
Taking this one step further, implementing two-way texts—allowing renters to respond to messages about everything from package deliveries to maintenance updates—can be extremely beneficial for your community. In fact, more than half of consumers want businesses to text them back—and customers that receive texts from businesses have a 40 percent higher conversion rate than those who do not.
When it comes to correspondence, today’s renters expect there to be options for digital communication, including an option for booking appointments online. Finding the time to call and schedule an appointment can be challenging, especially when business hours overlap with renters’ work schedules. Booking appointments online also helps avoid problems on the property side, like accidental double booking or misplaced documents, making the process easier and more efficient for all parties.
The schedules of your staff and your prospective residents may conflict. Accommodate renters’ needs by offering after-hours tours. A recent study published in the Washington Post revealed that in the last two years, nearly half (four in ten) of adults declined an apartment because they couldn’t find a suitable time to view it. From virtual to self-guided, rental property tour trends show that conventional tours are steadily declining in both popularity and utility. Offering prospects the opportunity to tour your facility after hours would not only accommodate those people and increase the chances of them signing a lease but also improve the renter-community relationship from day one.
By making these four small changes, you can make the renter experience faster, easier, and more efficient. Such changes offer substantial rewards for minimal effort, making their implementation a win-win for all parties.