course description
in our pursuit of reaching out to get new customers, we can easily forget at renewal time about those who have lived with us and paid their rent for a year or more.
property managers spend so much money on attracting new tenants that it can be more economical to keep the existing residents. turnover costs are expensive, let alone the vacancy loss of at least one month or more and advertising expenses. this can be a real issue for the bottom line. not only is resident retention important to building long-term relationships within your community, it also adds value to the property itself.
in this course, you will review how spending a much smaller amount of money, along with some no-cost strategies can keep your current residents happy and more likely to sign that renewal.
learning objectives:
- understand why resident retention is important
- review inexpensive or no-cost ways to make your current residents happy
- discover how your current residents bring in more business and better tenants in the long run
review our course policies and procedures page for further information