Properties spend a lot of time focusing on prospects and new residents, but often forget that current residents are also going to become prospects again and they could possibly renew their lease and refer your multifamily community to their friends. Kristi Bender, Social Media and Marketing Manager at The Barrington Group, joins our host Muhammad Yasin on the latest Sofa Seminar to chat about the entire resident lifecycle and how it’s changed.
During their chat, Kristi went through all the different stages of the resident lifecycle:
- Attracting New Renters
- Move-in Journey
- Relationships with Residents
- Renewal/Separation Process
Kristi and Muhammad talked about how the online experience has really shaped the new generations of renters. Millennials and Gen Z not only shop differently, but they have different values. With the rise of ESA’s and the number one reason for homeownership being room for dogs, Kristi discussed how her property updated pet policies to be more accommodating and made their property more pet-friendly. This is a big sell when it comes to renewals and to grabbing the interest of new renters.
They also went into how to engage with residents during the move in process. Kristi explains that she likes to keep the applicant involved in the whole process so they know everything that is happening with the unit and what to expect when they move in. She continues to check in on them in the first few weeks of moving in, from asking how their commute to work is and if they’ve found the grocery store around. Kristi makes sure that new residents know they are kept top of mind and that the onsite team is there to help them out.
Dive deeper into Kristi and Muhammad’s conversation about the resident lifecycle, from tips to how to keep residents happy to how to make that renewal/separation process easier for everyone, you won’t want to miss out on this.