Residents are the lifeblood of your business. You depend on their dues and fees to keep your business running smoothly. You also depend on them to be advocates for your business, ensuring their community remains in your portfolio for the long run. With close to 300,000 property management companies in the U.S., competition is stiff, making it easy for residents and HOA boards to find a new management company if they ever become dissatisfied with your services.
If you want your residents to remain loyal, you must invest in their experience. Customer experience, which directly translates to resident experience, has become a significant focus for businesses, so much so that according to a Walker study, customer experience is expected to overtake price and product as the key brand differentiator by 2020. Take a minute to let that sink in. People will soon be willing to pay more for a lesser product when they receive exceptional customer service from a company.
To better retain your communities, you must do everything in your power to provide an excellent resident experience, while continuously demonstrating the value you bring to the community and its residents. From maintaining the community to quickly responding to maintenance requests to providing differentiating self-service capabilities for your residents, it’s vital that you provide an all-around incredible experience for your residents.
Looking for ways to improve resident experience in the communities you manage? Download our free Six Step Guide to Providing an Exceptional Resident Experience today!