11 Ideas For Resident Retention In Your Multifamily Housing

In the competitive multifamily housing market, huge losses occur from the hassles associated with frequent turnover and empty units. When left unoccupied, units lose money — and too many within a single facility creates an atmosphere more reminiscent of a ghost town than a thriving community. Long-term residents are the key to keeping these costly issues at bay. Creative solutions that span all aspects of managing your facility can appeal to residents and make them want to stay for years.

Why Is Resident Retention Important?

Long-term residents are valuable assets to any established housing unit. They provide a steady flow of income and become well acquainted with the rules and regulations of your establishment.

Longer retention also leads to familiarity with your tenants and can help establish a baseline of trust. This translates to a smoother-running facility and a community atmosphere that's immediately apparent to new or potential tenants. Plus, long-term residents are more likely to recommend your empty units to their external community. When managed correctly, long-term retention vastly simplifies your resident turnover process. It’s a simple solution for many apartment management woes.

Top 11 Resident Retention Ideas for Multifamily Housing

Outside of facility basics, like clean and secure units, there are plenty of ways to make your multifamily housing attractive to long-term renters. Consider including these fun, fulfilling ideas to make your facility more desirable.

1. Create a Personalized Resident Welcome Experience

First impressions are critical. Every new resident ought to have an optimized move-in experience so they're pleased with their choice of facility. A great way to ease this process is with a welcome experience customized for your unique housing system.

From waste disposal to package delivery, include all relevant details for day-to-day living in an easily accessible presentation. Provide physical and digital format options to satisfy a range of potential residents. Be sure to include a friendly greeting, comprehensive contact information, and a personalized welcome gift to ease their transition into your facility.

On move-in day, ensure knowledgeable personnel are there to help manage challenges and answer questions. Introduce new residents to your maintenance team, public spaces, and all complimentary amenities.

2. Provide Attractive Amenities

Stand out from your competition with amenities that simplify your residents' lives and transform your property into a true community.

Start with resident event ideas like karaoke nights and holiday parties. These are simple things that can significantly increase resident engagement. Think broadly about all the options available to you in the technological era.

For example, an amenity with mass appeal is the inclusion of digital fitness and wellness apps like our mobile engagement app, Flex. Digital solutions are an advantage in the world of amenities because they don't require additional public spaces or expensive equipment. Simple inclusions like these can translate to important incentives when it comes time to sign a long-term lease.

3. Transform Shared Space Screens With Dynamic Content

Public screens are a fantastic way to advertise everything your housing facility offers. Use this space to remind residents of planned activities and complimentary amenities. You can also provide information with universal appeal, like weather updates or community news.

Be attentive to your residents and provide content that appeals to them. For example, housing units with children can play selections that appeal to youngsters in the morning. In the evening, use the screens to stream fitness activities or meditation sessions. Instead of guesswork, solicit feedback from residents to tailor the content to their interests.

4. Plan Community Events To Build Strong Relationships

Optimize your public spaces for comfortable resident communion, with a schedule of diverse, interactive events. This can be as simple as events for residents, like book clubs and board game nights. With events like these, current residents can even provide their own materials. All you need to give them is the space and the schedule.

Get creative and customize these activities to the interests of your particular residents. For example, a video game night could be a great fit if your residents are predominantly younger. If you have many families, child-friendly activities are the perfect way to establish a sense of community. Be sure to include events accessible to every age and relevant demographic.

Resident retention events like these will strengthen the ties between your facility and your tenants and between your tenants and each other. When people feel at home in their personal and public spaces, they are far more likely to stay in your housing system.

5. Support Mental Health With Yoga Classes and Meditations

To keep residents happy, include a range of fitness classes focusing on physical and mental well-being.

Yoga and meditation classes can occur in fairly basic community spaces. Many residents enjoy these amenities, especially when they're provided in an easily accessible format. Consider digital platforms to minimize the cost of in-person instructors while still providing quality content.

As a bonus, amenities that support mental health support the unconscious aspects of lease-renewal decisions. When you help your residents maintain healthy lifestyles, you become a part of their self-care routine, creating positive associations between your facility and their lives. This makes them more likely to want to stay long-term.

6. Invest in Smart Home Technology

The modern renter is looking for increasingly high-tech facilities to ease every aspect of their daily living routines. Consider including smart home devices in some or all of your units. This especially appeals to young professionals and the increasingly large population working from home.

Infusing your units with technology can come with a higher price tag, but this is easily recouped in the form of higher rent, longer contracts, and consistent lease retention. Choosing solutions like the compilation of digital offerings from Fitness On Demand is a great way to increase a unit’s value without adding a costly price tag.

7. Offer Rent Incentives and Concessions

Everyone likes to save a little money when they can. Discounts on multi-year contracts are a great way to prevent losses when units sit empty between renters. You can also offer discounts on affiliated apps and amenities. Consider including promised long-term upgrades in the unit’s contract and highlighting all of the planned improvements to the facility. This can always come with guarantees that long-term leases get all upgrades first.

8. Gather Feedback Through Regular Surveys

Optimal retention depends on a thorough understanding of your residents' needs. With this in mind, communication with residents is the best way to prioritize improvements to your rental properties.

Use biannual or quarterly surveys to ask about resident satisfaction with all aspects of daily living. Also, get feedback for ideas on additional inclusions within their units and community spaces. This is one of the best ways to improve your multifamily properties to fit the needs of your particular residents.

9. Use Newsletters To Keep Residents in the Loop

Create a physical or digital apartment newsletter to keep your residents on the same page and up to date with anything from maintenance information to new additions to public facilities. You can even use the newsletter to start public initiatives or set system-wide goals like reducing waste.

Include your monthly schedule for all activities, like group fitness classes, in the newsletters. With just a touch of creativity, you can transform facility communication and create a strong sense of well-being.

10. Provide Fully Customizable Fitness App Experiences

Since everyone can benefit from more fitness, fitness apps are a fantastic addition for most apartment residents. Some properties have the space to provide complimentary fitness classes, but apps work with any housing unit. Free or discounted access is a fun incentive to maintain long-term residency.

Comprehensive apps, like the health and fitness app we provide, offer options that fit every type of lifestyle and workout need. All kinds of residents, from children to seniors, can find fun, healthy activities within their engaging content. They can customize workouts to their bodies, interests, and schedules. Engaging with the app will always remind them of one of the many benefits of living in your facility.

11. Promote Wellness Initiatives

Physical, mental, and emotional health are all crucial aspects of a happy life. However, activities focused on wellness can be challenging to fit into busy schedules. Even little offerings from your facility can make a big difference in the lives of your residents.

Consider including a complimentary water and fruit station for physical health or creating an optional group weight loss initiative. For mental and emotional health, try offering relaxing activities like movie nights and group painting tutorials. You can even schedule monthly visits from professionals in different fields of mental health.

When these needs are so easily met within their housing system, residents are much more inclined to long-term contracts. Details like these transform a simple housing unit into a community-centric home.

Improve Your Resident Retention Rates With Fitness On Demand

Many of these changes may require time and effort to implement. However, one simple step can make a big difference in your retention rates: incorporating Fitness On Demand into your multifamily facility.

Physical fitness benefits all varieties of residents. Fitness On Demand's customizable programming and diverse physical and mental health classes are a fantastic association for any housing facility. Including this essential aspect of life within your amenities is a huge perk and an attractive reason to join today.

Contact our fitness experts today to add this highly sought amenity to your rental package.