We understand how important resident retention is for a property’s success. But, despite your best efforts, you may find that getting residents to renew their leases can be a challenge. You’ve tried sending reminders and offering incentives, but still, some residents choose to move out.
So the question is, what might be the missing piece, and how can you find a solution?
Let’s get to the bottom of this!
Let’s examine briefly the typical reasons why residents choose not to renew their leases:
Common Factors for Resident Non-Renewal:
- Unfriendly or Unresponsive Staff: When staff members are not approachable or responsive, it can lead to frustration and dissatisfaction among residents. This can result in residents feeling unheard. Staff should be polite, approachable and listen actively to residents’ concerns to create a positive living experience.
- Failure to Address Concerns: When residents have concerns that are not addressed, it can lead to a lower quality of life and less pride and enjoyment in their living space and community. Unaddressed concerns can include anything from maintenance issues to noise complaints, and when left unattended, they can create an environment where residents feel unheard and unvalued. Property management should have a system in place to address concerns promptly and effectively to ensure that residents feel heard and valued in their community.
Hosting renewal drive events is a great way for property management to show their appreciation for the residents and the trust they have placed in the property as their home. This will also give the property teams a chance to actively listen to resident feedback and take steps to address any issues, increasing the likelihood of lease renewals.
How does Journey AI Events help you Host Successful Renewal Drive Events?
Journey AI Events is equipped with innovative features that make event planning effortless, helping you to retain residents with ongoing renewal events and crafting unforgettable experiences for your residents.
Ready-to-Use Templates
Journey AI Events provides a wide range of pre-designed templates for various events, including renewal drive events. The templates can be easily customized to fit your specific needs. With an editable option for the event title, message, image, and more, you can create a unique and personalized event that resonates with your residents.
This feature not only streamlines the planning process but also guarantees that your event is consistent with your branding and marketing strategies.
Virtual and Physical Venue Customization
Journey AI Events’ templates offer an editable venue section that allows you to customize the venue details for both physical and virtual events. For virtual events, you can specify the Zoom URL, meeting ID, and meeting code.
This gives you the flexibility to choose between virtual and physical events and customize the venue details accordingly. This can also help you maximize your outreach, as virtual events eliminate the need for physical setup and can be attended remotely, resulting in increased resident participation.
Streamlined Approval Process
The simplified approval process offered by Journey AI Events ensures that everyone on your team is on the same page. You can enable the approval process and add approvers (your higher authorities) to review. Any one of the approvers added here will need to ‘Approve’ the event to be sent at the scheduled date and time. They will also have the option to ‘Disapprove’ in case any changes are required.
This helps to minimize miscommunication and ensure a seamless process. By adding approvers, you can ensure that the event complies with all requirements and aligns with your branding guidelines.
Event Publication on Property Website
Journey AI Events helps you publish your event on your property website with a single click, ensuring that all residents have easy access to information about upcoming events. This feature not only simplifies the process of promoting events but also increases the likelihood of attendance and participation.
Moreover, having the event information readily available on the website saves you time and effort in promoting the event individually to each resident.
SMS and Email Invitations
With Journey AI Events, you can easily send invitations to residents through both SMS and email, ensuring maximum reach and engagement.
This feature can also save time and resources that would otherwise be spent on manual outreach efforts. Additionally, it allows you to track the response rate and better understand the preferences of residents in terms of communication channels.
Social Media Sharing
With Journey AI Events’ social media sharing feature, you can easily spread the word about events on popular social media platforms.
By doing so, you can increase event visibility and reach an even wider audience, which can be useful in promoting your community and building a stronger online presence.
Easy Attendance Management
Journey AI Events’ easy attendance management feature allows you to keep track of the attendees of your events. You can measure the success of your events and also determine which activities were popular among the residents. With this data, you can improve future events and tailor them to the residents’ preferences.
Additionally, you can follow up with the residents who attended the event, thank them for participating, and build stronger relationships with them. This also helps you increase resident loyalty and satisfaction.
Endnote
Hyly.AI’s Journey AI Events is a powerful platform that simplifies event planning and management for multifamily residential properties. With its comprehensive features like real-time updates, streamlined approval process, and easy attendance management, hosting successful renewal drive events becomes effortless. It helps agents and marketers to focus on providing unforgettable experiences to residents and building stronger relationships, ultimately driving more renewals.
To take your renewal drive events to the next level, schedule a demo today and learn how we can help you streamline and optimize your event planning process.
