What is Resident Experience and What Does It Mean for the Future of Multifamily?
In the past, competitive rent prices, fancy furniture, high-tech amenities, and welcoming luxuries may have been enough to entice would-be renters and keep turnover low. Nowadays, modern residents of multifamily buildings are looking for more, specifically an exceptional resident experience.
Below, we’ll answer what is resident experience and look forward to the way it is transforming the future of the multifamily landscape.
What is Resident Experience?
Resident experience refers to the everyday, living experience of residing within a multifamily property. It involves crafting a sense of community amongst residents that makes them feel secure, entertained, and accommodated. It begins with moving in and ends the day a resident leaves the property, making life in between as enjoyable and positive as possible.
This involves tailoring life in the property for your residents. This can include group activities, self-actualization, well-being, safety, encouraging socializing among residents, personalized rental offers, direct communication with property managers, and reducing friction as much as possible.
Flamingo’s Resident Experience App is one such way to achieve this, delivering a complete solution to keeping your residents happy and engaged.
By crafting a great resident experience, you can expect to reap many benefits, including increased lease renewals, better occupancy, and happier residents. Whatever demographic your property houses, a well-considered resident experience can help maximize the value from each tenant, with many more referrals as a result.
Why do resident experience reviews matter?
While subjecting your business to online reviews can feel risky, it is becoming far riskier to deny prospective renters the ability to see what others are saying.
Using Amazon as an example, the star rating followed by the number of reviews are important metrics that help people decide if a product is right for them. Consumers are now used to using reviews as a way to gauge what something is truly like, cutting through the sales copy and glossy imagery.
The same goes for your multifamily building. While photos and informative web pages can convey what to expect in terms of amenities, services, and decor, they cannot speak for the residents themselves about what it’s like to live within the property. Seeing the words and insights of actual residents instills trust in those looking to rent and can help conversions.
Resident experience reviews, therefore, are absolutely vital to help explain what the building’s community and management are like. As the National Multifamily Housing Council’s 2022 Renter Preferences Survey Report states, almost 80% of people will overlook a property based on resident reviews alone.
You will want to encourage existing renters to leave positive reviews whenever possible, something which can be made easier using Flamingo’s platform. Using the Flamingo Resident Experience App, you can set up automatic review requests for residents which can be easily filled out using their smartphone. You can even encourage engagement with bonuses and incentives such as money added to their wallet to use towards experiences and services.
What is a resident experience manager?
Resident experience managers are responsible for crafting resident experiences that make for happier occupants, convert more lease renewals, as well as attract new tenants.
Resident experience managers aim to make living within a multifamily property as frictionless as possible. This means removing the hassle out of tasks such as paying rent, requesting maintenance, and reporting damages. The role also involves providing an active touchpoint for residents, collecting feedback, and providing information when necessary.
A resident experience manager will also take care of providing experiences and services for residents to keep them engaged and happy living within a property. Resident managers will carefully curate events in order to bring residents together, encouraging socialization and improving well-being.
How does a resident experience platform benefit site teams?
While get-togethers and mixers have their place in a mutlifamily property, modern renters are looking for more personalized experiences. Thanks to Flamingo’s hundreds of unique experiences, residents can easily RSVP to events and book their place as part of exciting activities. Property managers simply need to book an event and the app handles the rest.
This includes outdoor movie nights, weekly fitness sessions, cocktail-making classes, and much more, including services such as cleaning.
Setting Flamingo’s resident experience platform apart is its social feed function that can be set up by resident experience managers to allow your community to share thoughts, photos, memes, friend their neighbors, and arrange their own social events, further encouraging engagement.
Real-world example
For a concrete example of how focusing on the resident experience is beneficial, California’s Atlas multifamily building receives consistently outstanding reviews from residents who simply love living in the building.
While residents report the luxuries and amenities are second to none, reviewers are most happy about their overall experience at Atlas, from the friendly and accommodating staff, the fitness classes, happy hours, and the building’s growing sense of community.
At each touchpoint, Atlas’ team seek to make things go as smooth as possible, from first contact and lease signing right through residency within the building.
With hundreds of five star reviews, Atlas is a shining example of delivering a great resident experience. Here are some choice reviews to highlight how this translates into happy, long-standing occupants:
“Been living at Atlas for 3 months now and absolutely love it!…I decided on Atlas because of the amenities, friendly staff, and attention to details…The management maintained the building really really well! What really sets Atlas apart for me is that it truly feels like a community. Thanks India for helping me find my dream unit!!!”
“After deciding to leave SF, I went on an expansive apartment search around Oakland, and ultimately decided on Atlas…In addition to having a well-maintained building, they’re quick to respond to any service requests, and also host events for residents…After living here for a year, I’m excited to continue my stay in the community.”
“Couldn’t be happier with my decision to sign a lease at Atlas. From the initial interest I made with one of their leasing associates to the execution of my lease, the customer service has been incredible…the building’s atmosphere and amenities make it the best place to live in Downtown Oakland hands down. Hope to see you there!”
How can a resident experience app help?
If you’re looking to enhance the resident experience for your multifamily occupants, Flamingo’s Resident Experience App can help.
Not only does Flamingo keep residents happy, healthy, and engaged, collecting feedback, facilitating community building, and RSVPing to events, but it also makes it far easier for resident experience managers to deliver outstanding customer service.
With the multifamily sector becoming increasingly competitive, Flamingo can help craft an exceptional resident experience for occupants as well as automatically collect great reviews. This will not only help convert lease renewals but also lead to revenue growth with referrals and reviews bringing in new occupants.
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