SOMETIMES A RELATIVELY SMALL SOURCE OF FRICTION MATTERS MORE BECAUSE RESIDENTS ENCOUNTER IT REPEATEDLY.
LISTEN BEFORE YOU INVEST
Before approving the next improvement, owners should ask a few questions: ✓ What do residents mention repeatedly without being prompted? ✓ What affects them most often? ✓ What would make everyday life easier? ✓ Are we solving a real resident problem, or simply matching what a competitor offers?
Most importantly, do not wait until renewal time to start listening. Resident feedback should be an ongoing operating tool, not an exit interview.
THE BEST RETENTION STRATEGY MAY ALREADY BE IN YOUR DATA
There will always be another amenity trend. Some will be worth pursuing, while others will fade. Resident retention, however, does not depend on offering the most amenities. It depends on understanding residents better. For one property, that may mean recognizing that proximity to schools is an overlooked strength. For another, it may mean discovering that residents want a playground more than another upgrade. The most useful resident signal may not be the
loudest complaint or the highest satisfaction score. It may be the small observation that appears repeatedly in feedback. Owners who spot those patterns have an advantage. Because when residents tell you what would make their homes better suited to daily life, they are giving you more than feedback. They are providing a roadmap for what might make staying feel easier than leaving.
JEN TINDLE VP of Corporate and Business Development Grace Hill
Jen Tindle is VP of Corporate and Business Development at real estate people-performance platform Grace Hill and a member of its senior leadership team. Jen leads Grace Hill’s partnership strategy and strategic initiatives – building and managing the partner ecosystem across the multifamily and commercial real estate technology landscape, from reseller and referral agreements through integrations, joint go-to-market, and acquisition opportunities.
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