3 Ways Technology Extends Leases Past 12 Months
Let’s be honest, attraction and retention are two very different things. For those of you too old be on Tik Tok, but scroll mindlessly through anyways vicariously living through the Gen Z dating lifestyle, you’ll understand the trend behind “They’re a 10, but they…”. Or, all looks and no personality. Great style but that one particular ick is just too much. You get my point…The attraction is there, but those one or two traits don’t keep you around. A lot of apartment communities can draw some similarities. Apartments can have all the beautiful amenities in the world, but how does the community’s personality and technology actually keep residents around longer than 12 months?
More than anything, residents are attracted to the idea of enhancing their lives and daily processes without the need of additional effort. By giving them the ability to control their thermostat, locks, and lights with the tap of a button, you’re providing more than automation - you’re providing a luxury that will keep them around.
Installing smart technology onto your property can attract prospects, but ensuring that the technology is easy to use, maintain, and control is what keeps them around. By providing the resources to simplify the lives of your residents, you’re also simplifying the lives of your team. 50% of residents stated that they prefer an online-only process for leasing and renewals (2022 NMHC Resident Preferences Report). Combine this technology with self-guided and/or virtual tours, and your community could fill a vacant unit with a satisfied resident without ever having to communicate or see the tenant in person. Crazy, right?
Each day, new technologies are released to make our lives easier. From grocery pick-up to dog walking services, it’s imperative to provide technologies that elevate the level of convenience to residents. Giving them the freedom to control their home from their own devices, is giving them a reason to stay with your community. Further, the ability to control community amenities, like 24/7 self-service package lockers, and online amenity reservations and maintenance requests allow for reduced effort from on-site staff and puts the power back into the resident hands.
Enhanced living, seamless experiences, and elevated convenience; 3 ways that technology can not only attract prospects, but keep them around for the years to come. What technology can you implement today that your residents will thank you for tomorrow? Find out here.