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Great Ideas Shared from R&R Readers!

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ideas-1We Just Popped In!
In the past year, we have increased our resident retention rate to a spectacular 70% and increased market rents by $76. Thanks to the Popcorn Giveaway, we increased our closing ratio by 10%. Touring apartment communities can be repetitive from the prospect’s perception. You must think of cute and catchy ways to stand out in the crowd so when your prospect gets home with 10 different brochures from various communities, they remember exactly which one you are. One way of doing this is giving out a cute and catchy gift. When you tour in our community, you will receive a bag of popcorn with my business card. The slogan is “Thank you for popping in.” Add a little ribbon and you have a cheap but memorable gift that once again can be used by the recipient.
-Stephanie Anderson, Harbor Village Apartments

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Maintain(ance) to Retain

article-maintenance-minute At Rent & Retain, we focus often on the sales sides of things, but when it comes to retaining our residents, it’s not just the office team that has a huge impact. According to Satisfacts Research, maintenance factors heavily in to whether or not a resident chooses to renew their lease at the end of the term. Here are three ways to use that knowledge to your benefit:

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The Food Feud

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From finicky feasters to those who eschew the common edibles, what should we serve our residents at events?

Kim Lee with Community Northwest is no stranger to being a good hostess. Her nonprofit company specializes in building community within apartment complexes by focusing on resident events and helping to build positive relationships. Kim’s philosophy: “If you feed them, they will come. If you feed them well, they will come again. If you feed them well and introduce them to a friend, they will keep coming.” And anyone who’s no stranger to resident events would probably agree with this statement.

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Maintenance Minute

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A responsive, professional service team is your best ally in the fight to keep your residents right where they are! Once a new resident signs their new lease a large part of how they continue to feel about their new home is in the hands of the service team. From the home’s excellent move in condition, to keeping the property and amenities clean and functional, to regular service requests, and even the occasional after-hours emergency – each one of these situations is an opportunity to keep your residents close or give them an excuse to give their notice.

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Resident Event – Soda Float Social

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Whenever the weather starts to warm up, residents tend to emerge from their homes and become more social. This is a great time to get them more connected with their community. Of course, this is also often your busiest time of the year, so my number one tip for you is to plan the next three months of resident activities now. This means putting them on your calendar for a good time of the month (for example, not the first week of the month), and creating reminders for each task that is needed, and it also means utilizing your teams’ strengths to maximize impact and create a sense of ownership.

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You’re Invited – What’s Involved in a Stellar Resident Event Inivation?

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We all know the importance of building a sense of community and loyalty with resident events. Once you’ve planned an event that will resonate with your community, you’ll want to give attention to the event invitation. A large part of your resident event success will depend on the invitation! The truth is, some of us DO judge the book by its cover, and whether or not to attend the event might be determined by the invite itself. With that in mind, here are some tips to help your next resident invite bring in the masses.

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How to Overcome the Top Reasons for Not Renewing

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When looking at the top reasons a resident chooses not to renew their lease, there are no real surprises: rent increase, parking, neighbors, or apartment features such as appliances, carpeting or cabinets are all some usual suspects. But after evaluating the top five reasons, the top ten, and even the top twenty reasons in the just released 2014 SatisFacts Index, a pattern emerges. When a resident chooses to start looking elsewhere for a place to call home, the reasons fall into four main categories:

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Days & Days

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Fast, easy and inexpensive ways to lease apartments, motivate residents, excite prospects and allow YOU to have fun at work.

January

International Creativity Month
Coffee houses are centers of creativity, so grab a weekend day this month and turn your cabana into creativity central. Invite residents to come in and share their gifts, whether they be writing, art, or performance poetry. Grab some comfy cushions and set out some yummy drink mixes and delicious creamers, or, if you have the budget to support it, hire a barista for the day.

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