Transcript Your Residents… Why is it Important to Keep Them?

Anne Sadovsky Presents:
Site Management Survival
Tactics:
How to Pocket an Extra
$100,000
Your Residents…
Why is it Important to Keep
Them?
Make a list:
 1.
 2.
 3.
 4.
 5.
 6.
It costs 5 times more to get a new resident
than to keep the one you’ve got!!!
 Begin
by choosing the right residents
in the first place…
 When the market is strong……
 But when it is soft……..
Don’t Shoot Yourself in the Foot
 The
application process
 You
could lease only to
redheads…criteria for leasing…take
a new look
 Criminal
check
Give all the facts to all the folks
 Occupancy
standards
 Fair Housing and kids
 Pets / animals
 Lease term options
 Technology – satellite dishes, high
speed access, on line rent paying,
credit cards
Important tips:
 Reword
your “rules” into community
policies
 Nowhere is ‘secure’…watch what you
imply
 Successful Service Request…add
what the cost would be if they had to
pay
Who is Your Biggest Competitor
 If
they buy they lose:
 Mobility
 Flexibility
 Recreation / social activities
 Maintenance / customer service
 You!
Create a Rent VS Buy Campaign
 www.nmhc.org
 Condo
 Use
conversions
the one sheet
Ritchie Renter and Henry
Homeowner

Use a little humor to make a point

Put in on your website

Publish a column in your newsletter
on the benefits of renting

Get sold yourself
Ritchie Renter
“Lonely? How can you be lonely? My apartments
have parties where I meet lots of people!”
“Hey, let’s go camping this weekend!”
We both got a bonus, let’s take a vacation.
Henry Homeowner
“None of my neighbors even speak.”
“I can’t. I have to mow the grass
and pull the weeds.
I have to buy a new hot water
heater!
Can You Identify with this Story?
 Or
does this sound more familiar?
 Why customers quit:
 1% die
 3% move away
 5% buy from or through friends
 9% competition takes them away
 14% product dissatisfaction
 68% perceive employee indifference
Renters evaluate us
1
Reliability
2
Responsiveness
3
Assurance
4
Empathy
5
Tangibles
Dealing with Difficult People
 Don’t
React
 Disarm them
 Change the game
 Use magic words
 Every Resident should be a public
relations spokesperson for your
community
For Service Success
 The
resident is not your enemy…
 Develop your people skills
 Understand / survey the
customer…ask questions
 Be available and remember names
 Think ‘win-win’
Develop a Plan
 Move
in day…welcome gift
 Birthday card / email
 Regular communication
 Budget for renewal gifts / incentives
Move-in day Welcome Gift & Card in apartment. Printed brown “grocery” bag—toilet paper, paper
towels, correct picture hangers, small hammer. $10
-orShallow basket, dry pasta, jar pasta sauce, bread sticks (individually wrapped), soft drink/ water (big
bottles), 4 paper napkins, 4 plastic forks, paper tablecloth, 4 chocolate mints, welcome card—“Dinner’s
on us your first night home.” $15
*Get birthday (not year) and set up in computer to send birthday card on that day
1st Week Welcome Letter and Survey with follow-up call from the Manager.
3rd Week Brief letter from Maintenance with blank Service Request forms (or reminder of where to email Service Requests) and reminder of Resident Referral Fee*.
*We will advise how to work around the Res. Ref. Fee restrictions (contract labor).
60 Days (2 months) after move in Check file/ computer for Service Requests; if none or few, send note/
call.
4th Month Check for rent payment habits and Service Requests, if good, ask resident/s for their opinion
and testimonial (to use in 3rd party promotions of property).
5th Month Send a “We Appreciate You” Gift—a mug of candy or popcorn pack with movie tickets (or
video rental coupons) with letter “This is your home…”
7th Month Send Address Labels printed with their name and apartment number.
9th Month Rent vs. Buy one sheet.
10th Month “Invitation” to stay / renew with High Cost Of Moving one sheet.
11th Month Renewal Bonus menu (non-cash, non-rent) from which resident/s may choose. $300 Also,
a personal telephone call.
What Will You Do to Get them to Stay
o
Carpet Cleaning,Painting,Make ready
cleaning & maintenance,Replace Counter
Top,One appliance,Add Ceiling
Fan,Incentive/new renter, 1
monthAdvertising (pro ratashare),Leasing Bonus,Locator Fee,Loss to
2 weeks Vacancy, Utilities…. Add whatever
else you think of…Average $2,500
What if?
o
o
o
o
o
o
o
o
o
$300 ‘Renewal bonus’
Non cash, non rent, non refundable
Menu:
Paint….$200 or spot paint $75
Appliance $300
Cleaning Service $150
Microwave $100
Ceiling Fan $75
Hard surface floor replacement $150
Use a High Cost of Moving Sheet









New deposit $300
Pet deposit $300
Utilities $150
Redecorate $250
Incidentals $100
First Months Rent $750
Application Fee $35
Moving Van $500
Groceries $200
$2,585. cash up front
Make a list of 3 things you’ll use
from today’s sessions
 1.
 2.
3