What is the Resident Zone
The Resident Zone encompasses customers from the time they sign a lease until they move out. If you have looked through our Playbook, you probably noticed the Resident Zone has more plays than the other two zones combined.
There are three reasons why this zone has the most plays:
- It’s the only zone where the PMC’s make money (so we want to keep customers there!)
- It has the longest time frame. A customer can be a resident for years. So, it is important to keep them engaged throughout their residency.
- Plays are created to move customers from one lifecycle stage to the next. The Resident Zone has the most lifecycle stages; therefore, it has the most plays.
Why Should You Program?
Resident satisfaction is the key to maintaining a high occupancy rate.
But, keeping residents happy isn’t always easy… Did you know, 53% of leases are NOT renewed?
This is a big deal considering a property management company averages a loss of $2,811 every time a resident doesn’t renew.
Clearly, resident retention should be a priority for every property management company, so why is resident turnover so high?
Most PMC’s are not using automation tools, or at least not to their potential. Without automation, PMC’s don’t have enough time or resources to engage with residents, sell to prospects and handle maintenance around the property.
Let’s explore how automated resident plays can help!
Learn more about why multifamily needs automation to scale.
Benefits of Automating Resident CLM Emails
The goal of the Resident Zone is to keep residents satisfied and eager to renew their leases.
Let’s take a look at what resident zone can do!
By providing helpful information to new residents, you can ease the moving process for new residents. Also, it shows your residents that your property management team is caring and helpful. Knowing this will make residents happier and more likely to recommend your property— and everyone knows happier residents are more likely to renew their leases.
You have to spend time and resources educating each new prospect before they will lease. If a resident renews, you can fill units immediately and for free.
Plus, automation makes it easy to engage residents. This gives agents more time to tour, interact with residents or anything you can think of to better your business!
By automating your resident follow-up, you decrease costs and increase resident satisfaction. Result: Increase your ROI!
Resident Zone Playbook
Resident Pre-Move Play
Start State: Leased
End State: Moved-In
Goal: Ease transition into residency for new residents
As soon as a prospect signs a lease, they should move to the ‘Pre-Move Play.’ In this play, they get all information they need to make their move as easy as possible. This play includes an ‘application approved’ congratulations, a move-in checklist, and a reference guide to insurance and utility companies recommended for your property.
Want to learn more about the Resident Pre-Move Play?
Resident Welcome Play
Start State: Moved-In
End State: Stable
Goal: Keep residents happy
When a resident moves in, they should start the ‘Resident Welcome Play.’ It gives an overview of information new residents want to know.
Typically, the play kicks off with a welcome email and is followed with an email that prompts residents to stay in touch. Next, you can move into some helpful tips for navigating the area, like where to find the various amenities, local entertainment venues, and where they should eat dinner. Round out your Welcome Play with a personal touch, like a triggered birthday email.
Want to learn more about the Resident Welcome Play?
Resident Satisfaction Play
Start State: Stable Resident
End State: Renewable
Goal: Check in with current residents to make sure they are pleased with the property
After a resident has been at your property for six months, they should receive the ‘Resident Satisfaction Play.’ As the name suggests, this play evaluates how happy your residents are and gives you a chance to make amends with any residents who are unhappy. The Satisfaction Play usually includes an anniversary email, a resident survey and a prompt to refer a friend. To go the extra mile, you can send a follow-up email to address any concerns mentioned in the resident survey.
Want to learn more about the Resident Satisfaction Play?
Resident Renewal Play
Start State: Renewable
End State: Renewed
Goal: Make residents want to renew their leases
Two months prior to a resident’s lease ending, use a ‘Resident Renewal Play’ to encourage your residents to renew their lease. Gentle reminders and special offers are an easy way to encourage residents to stay.
Want to learn more about the Resident Renewal Play?
Resident Exit Play
Start State: Renewable
End State: Moved-Out
Goal: Maintain a positive impression by provide a smooth move-out process for residents who did not renew
Inevitably, some residents do not renew their lease. However, that doesn’t mean they wouldn’t be willing to recommend your property to their friends. Make sure you leave them with a good impression by using the ‘Resident Exit Play’ to make their move easy.
Send them a move-out checklist to keep them organized. Also, you can ask them to take an exit survey so you can gain helpful insights into why your residents aren’t renewing. These survey results can inform your new resident retention strategy.
Want to learn more about the Resident Exit Play?
Conclusion
Using a combination of Resident Plays creates a sense of community, introduces residents to the area, and makes sure residents are still pleased with the property throughout their residency.
Programming the Resident Zone gives your residents everything they need to make your property their home. They won’t want to leave, because everyone knows there’s no place like home!
We have covered how the digital angels can assist agents with prospects and residents at every stage in the lifecycle. So, what’s left? Dormant leads. Next, we are looking at how the digital angels can revitalize dormant leads!
