Efficient day-to-day operations are one of property managers’ top challenges. Efficient communication with prospective and current residents can enable a positive ROI and a differentiating experience for renters that results in increased attraction and retention.

Some respondents to Allegion’s 2023 Multifamily Living Trends Report: A Study on What Multifamily Renters Desire, Expect and Will Pay More for in Their Residences noted inattentive property management as a top 3 deal breaker when considering a future place of residence. Download the free full report to learn how current trends and behaviors of residents in the multifamily market are impacting the industry.

 

Communication Methods 

There is a statistically significant difference between age groups when communicating with leasing staff or property owners. 34–39-year-olds are the most likely to use email and integrated resident portal app, while 22–33-year-olds prefer phone calls and texting. Depending on the demographic of your building, it can be worth investing in communication methods that make your residents the most comfortable.

 

Touring to Leasing 

Self-guided tours are proving to be a worthwhile leasing strategy. They can provide an experience that benefits prospective residents and staff alike while improving conversion rates on leases and ensuring resident safety. Self-guided tour technology is more efficient and effective with the potential for flexible tour hours. Over 3 in 4 survey respondents were at least somewhat comfortable with all four self-guided tour scenarios.

To learn more ways you can increase resident satisfaction and revenue by appealing to today’s highest quality renters, download the full Multifamily Living Trends Report: A Study on What Multifamily Renters Desire, Expect and Will Pay More for in Their Residences.