resident experience 2022
The resident experience is changing. From the initial apartment search to the renewal of another lease, the process of attracting, maintaining, and creating loyalty with potential renters is adapting with the times. In today’s market, proactive engagement, consistent interaction, and competitive value lay the foundation for resident retention. To make it count, attention to detail should be paid at every step of the journey.
Kicking off the resident journey is the search process. Not only should your property be accessible within search, but defining features need to be front and center to stay in the game. It's important to map the journey of search across multiple devices, platforms, and stages. A wide-spread approach will attract, pique curiosities, and re-engage prospects.
When outlining your strategy, here are key statistics to consider:
Today's prospects tap, swipe, and click on their phones an average of 2,617 times per day with attention divided across apps, domains, and devices.
J Turner Research has found that 71% of prospects surveyed chose to visit properties with better online reputations, and that properties with high Online Reputation Assessment (ORA™) scores produce 15% more leases than properties with lower ORA scores.
Because 94% of all internet searches occur on Google, the odds are likely that a prospect will at some point use Google in their search for an apartment home. Google algorithms change 500-600 times a year, and around 90% of the world population only looks at first page results when searching.
Social media is adopting its own form of SEO in a way that promotes a positive user experience. The way this algorithm works is by putting your posts in a pool as small as 1% of your followers. If those people engage with the content, then it gets introduced into a larger pool. Slowly but surely, more and more people see it, but only if it's engaging.
Video content is 50x more likely to drive organic traffic than plain text
Using videos on landing pages can increase conversions by over 85%
YouTube is second only to Google as the most popular search engine
user generated content is the gift that keeps giving! UGC posts shared to social channels see a 28% higher engagement rate than standard brand posts.
When it comes to apartment tours, convenience and comfort are key. In this initial interaction, it's important to be flexible to set the tone for a seamless resident experience.
Once a prospect arrives on your website, welcome them with open arms with a chat tool and self-scheduling calendar that makes it easy to talk to an agent or set a virtual or on-site tour.
Offer a convenient experience for prospects where you can meet them on their schedule.
130
%
Prospects are 130% more likely to sign a lease if they can tour a property online
70
%
Over 70% of renters would be willing to rent an apartment without seeing it in person as long as they could take a 3D virtual tour
Offering hands on support can give your property the ability to help close more leases and set the standard for a high level of service.
Allow prospects to easily fill out their information and sign a lease with technology that integrates with your website and backend.
Follow up a smart tour with even smarter access. When you begin the resident journey with a sense of ease, it's important to maintain that convenience. Discover the new standard for smart access:
The utilization of smart keys and the ability to set them up via smartphone.
The syncing of access via one smart key to the apartment and the building's common areas and access points.
The move-in process sets the tone for the resident experience. To start renters off on the right foot, consider these practices:
Customize your “move-in checklist” based on resident behavior and asset performance
Set up movers, utilities, and internet via apps
Offer a lease incentive gift cards
Decorate your residents' days with convenient smart features. With this comes a new standard of living they will become accustomed and loyal to. While the benefits for residents are abundant, incorporating technology also benefits your ROI. Here's why:
$
25
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$
40
Multifamily owners can charge an additional $25 to $40 more per month in rent with a base smart apartment package that includes smart locks, thermostats and leak sensors.
70
%
70% of residents are willing to pay an extra $100 in monthly rent for smart technologies like locks, thermostats and lighting that fit their needs.
30
%
Smart Energy can reduce energy use by 30% in costs and emissions from common areas and empty units.
73
%
73% of residents are interested in or will not rent without community green initiatives.
47
%
Automation can yield savings across vacant units up to 47% national average.
77
%
77% of residents say green living features save them money on utility costs—savings you can promote as an amenity.
99
%
Properties see as much as a 99% reduction in time spent on key management and creation with Smart Access.
Let smart living extend to the payment process with convenient online transactions. Improve efficiency, decrease processing costs, go paperless, and reduce the risk of fraud associated with payment collection.
Now that residents have been engaged and offered a sense of convenience, it's time to introduce even more value through innovative amenities and services. To embolden the amenity experience, consider automations like:
Automate the promotion, scheduling, and contactless payments of any type of rentable space, event, or item
Control occupancy, guest attendance, available hours, and staff approval
Save time with resident self-scheduling
Provide timely services while reducing operational costs with online submissions and the tracking of service requests.
1. New request confirmation
Status change
New comment
2. Completion Confirmation
Seal in a sense of loyalty by enhancing the resident experience with digital points-based gamification principles.
Fully automated, self-service reward redemption will create an engaging and mutually beneficial relationship between the resident and community, designed to last.
Rewards make it easy to achieve results for all your programs by motivating resident actions.
Additionally, you can offer reward points for behaviors you want to see such as online payment preferences, amenity reservations, and the use of renters insurance.
Meaningful resident engagement creates loyalty, which benefits your online reputation.
As a known driver of lead-to-lease conversion rates, it can increase a property's asset value up to 3% against your market competitors.