The Top Four Drivers of Resident Retention via Property Management Insider

According to the most recent SatisFacts Index, 43% of annual survey respondents said they were “very likely” to renew. So, what about the other 57%? What’s going on with them?

We know that no matter how great you are with residents, and no matter how much they enjoy living at your community, there will be a certain percentage that chooses not to renew every year. These residents are typically experiencing some sort of a life change such as buying a home, relocating for work, losing a job, etc.

We also know that the number of those going through such changes is far smaller than those who are on the fence about their renewal. On our survey, any resident who answers other than “very likely” to renew is met with a simple follow up question: “Why didn’t you answer very likely to renew?” From there, they are given the opportunity to select as many reasons from a list as applicable as to why they are not secure in their renewal decision.

Read more...The Top Four Drivers of Resident Retention | Property Management Insider