Resident Retention: The Importance of a Culture of Responsiveness by Jen Piccotti via Multifamily Insiders

Even as we’re able to start pushing rents in the market, it is still “Mission Critical” to increase or, at least, maintain net operating income (NOI) and asset value – which happens when we increase resident retention. However, it isn’t the resident functions or monthly drawings that will help residents feel better about rent increases and renew their leases. In surveys conducted by SatisFacts Research, “office staff responsiveness to calls and emails” still has the greatest impact on the decision to renew. By creating a culture of responsiveness, a property management team can not only increase resident satisfaction, but can even increase retention despite rent increases!

Here are some examples of resident quotes taken from completed resident satisfaction surveys:

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