Recent reports show that Millennials have the lowest rate of homeownership when compared to the generations before them. When surveyed, 18% expressed that they believe they will be renting for their whole lives. This number has only continued to increase in the last few years.
Today’s renters are viewing apartment communities with a different lens than generations past.
So, what does this mean for your onsite multifamily teams?
One way to keep residents happy is to cater to their need for community and one way to accomplish this is through fun and creative resident activities ideas for apartments, like virtual event ideas and in-person gatherings to giveaways and promotional experiences. However, with all the other tasks your onsite team is managing, they may not have the time to decide what activities are best for your community to get residents to participate and enjoy themselves.
Luckily, some of the guesswork of what residents want can be taken off your team’s plate. PERQ’s Multifamily Field Guide gathers data from over 4 million consumer responses through our leasing automation platform powered by an artificial intelligence (AI) decision engine that lives on over 1000 multifamily property websites all over the nation. The Field Guide offers multifamily property management companies (PMCs), like yours, an inside look into what renters want.
Below are a few examples of the kind of data we collect and how your team can interpret it to come up with the best resident activities for your communities.
SHOPPING AND SOCIAL ACTIVITIES
On a national level, when it comes to activities renters enjoy the most, shopping and social activities are tied for the number 1 spot. There are plenty of fun resident activities and events that can be centered around shopping and socializing with others including:
- Pop-up Shops
- BBQ Cookout/Tailgate
- National Food/Beverage Days Celebration
- Cornhole Tournament
- Food Truck Fridays
- Puppy Play Date
Your communities could partner up with local businesses in the area to do a farmer’s market style pop-up shop event. If the weather allows this can also be done outside. Residents can shop around, talk to one another, and bring their friends and family along. This is a great way for residents to also show the property to others they know who may be looking for their next rental, which could be a great referral opportunity! This kind of event allows for the property to increase resident satisfaction while also fostering relationships with local businesses.
Whether it’s the pop-up shops or hosting a Food Truck Friday, be sure to take photos and videos for your property’s website and social media. Events come and go. Being able to show prospects through your website or on your social media actual footage of past resident events gives them a better idea of life in your community.
We do live in a world that is ever changing when it comes to whether in-person gatherings are best for everyone given the COVID-19 pandemic. And virtual resident events are still a great option for the colder months and for more casual events. You can host a monthly bingo or trivia night for residents with prizes for the winners. The prizes can be anything from gift cards to local shops in the community or tickets to an event happening in town.
Outside of virtual game nights, you can even host virtual book/podcast clubs. Send out which book or podcast that will be covered in your monthly resident newsletter that way everyone can be prepared.
This kind of activity is still social but allows for residents to connect with each other on a deeper level. The best part about these virtual events is they can be shifted to in-person when the time comes.
You might be wondering if it’s worth doing resident events at all. However, with more renters staying in the rental market over owning a home, fostering a community at your property is imperative for resident retention and satisfaction. This is your residents’ home and with renters looking to do social activities, creating that space at your properties is essential.
Remember, we have the data to help your team select resident events that make the most sense for your communities. Access our full renter data report to get a deeper dive into what your residents and prospects are looking for.