Oftentimes, multi-family housing focuses on marketing towards new tenants but what if some of that focus was geared towards keeping the tenants you already have? Resident retention is just as important as marketing for new tenants because it not only decreases turnover rates but it has the ability to function as a referral base as well. Here we offer 5 ways to build resident retention this Thanksgiving season.
The Gift Of Thankfulness
The gift of thankfulness can go a long way, especially in today’s world where people feel isolated, alone and even forgotten. Now, of course, we know that gifts can add up but there are ways to say thank you within a reasonable budget. First, printing off festive tags and attaching them to your gift of choice speaks volumes to your residents. Most people are visual and seeing something that marks your gratitude will lift their spirits before they even open the gift. Some simple gift ideas are filling small bags with candy, creating hot cocoa jars filled with cocoa, small marshmallows and crushed peppermint candy pieces, smores kits or a simple box filled with specialty teas. Whatever the idea, residents will appreciate the thoughtfulness behind your efforts and see that you took the time to show you care.
Being Thankful As A Community
Outside of showing your appreciation to your residents, it’s important to find ways of bringing your residents together as a community. When residents feel they are a part of something they are less likely to leave. Even in today’s current season there are ways to connect; it just takes a little bit of creativity. A simple go-to idea for bringing the community together is having everyone write on a leaf made of construction paper what they are thankful for. As residents add their thoughts, a thankful tree can be created within the complex’s office space. This is an ongoing idea that everyone can participate in and even reflect upon as they read from what others attributed. During a time where many have experienced loss in multiple areas of life, creating a visual of what we can all be thankful for is a great way to come together as a community. Being thankful as a community draws people together and is one way to communicate that we are not alone.
To-Go Thanksgiving Craft Sets
More than likely, within your complex you have multiple families with small children. During Covid we have all had to spend more time in our homes in order to keep everyone safe which makes to-go Thanksgiving craft sets a great idea in reaching our residents, letting them know we are thinking of them and that we care. Economical friendly sets can be created by buying items in bulk and creating bags to pass out to the families. Even residents who are older can appreciate these gifts as they may know someone they can share it with and spread the joy of thankfulness. The idea is that you show your residents how thankful you are for them, even if the gift item itself cannot be used by them directly. There are tons of craft sites that can be looked at online to find ideas in building a craft set for the season and you and your team may have just as much fun putting them together!
Community Food Drive
Now here is a common idea that everyone can get behind! Local stores all over the area collect non-perishable foods to help those in need during the holiday seasons. Whether you directly partner with your local stores, a local church or even put together your own food drive; people feel better when they can find ways to give to others and a community food drive is a practical way to do this. Not only will everyone be helping families in need but this is another way of bringing your residential community together and establishing resident retention. Community food drives can be as simple as letting residents know that they can drop off non-perishable goods to be collected in the main office. You could even go above and beyond and ask residents if they know any families in need so that residents can see their giving touch the lives of those in their surrounding community. Being involved within your surrounding communities is a great way of establishing rapport and speaks volumes about you to your referrals.
A Raffle Of Gratitude
Who doesn’t like a good raffle?! A nice worthy prize at the end gets everyone excited about the possibility of a raffle and what better time to do it than the thanksgiving season. Raffles can be as basic or complex as you choose; it’s the creativity behind it that makes it worth the while. We like efficiency so putting together a raffle that kills two birds with one stone, sort of speak, is prize worthy for all involved. One idea that accomplishes this train of thought is putting in names for those who pay their rent on time and even adding an extra ticket for every day that they are early on their payment. This encourages tenants to not only pay on time but even go the extra mile if possible to pay their rent early. Of course, the prize at the end of the raffle must be worthy of such measures. We know that not everyone can pay their rent whenever they want as households have specific budgets within specific timeframes so to add to this idea, one way to have extra raffle tickets entered under a tenants name is to enter tickets for those who have been tenants for at least six months. This way, everyone feels they have a solid chance of winning and is excited to hear of the outcome.
No matter what ideas you implement to build resident retention this Thanksgiving season, we are sure that any act of gratitude towards your tenants is a win for everyone!