As renters expectations shift, it is imperative you continually look for innovative ways to successfully provide a memorable resident experience. Asset management is more than buying and maintaining properties - it is about creating a sense of community.
Any time a prospective resident or current resident encounters your brand – before, during or after they live at your community – it offers an opportunity to further discuss as well as understand what their desired experiences look like. This allows community teams to identify and remove pain points that occur throughout the resident journey - setting your multifamily community apart.
A multifaceted, people-first approach is sure to create enhanced experiences that will exceed residents’ expectations.
Advocate for the resident's experience
Listen, learn and stay up to date with your renter base. Understanding what is of interest to residents is a critical element in fostering a sense of community. Develop an environment where the needs, options and anticipated behavior of your market are acknowledged. Being proactive and observant are the first steps to advocating for an elevated resident experience that makes a lasting impression.
Adjust to variable market trends
Research feedback on existing processes, such as how work orders are completed, and identify any gaps that are not in alignment with renters expectations. Improving processes will ensure efficiency and satisfaction is achieved at a community, Resident expectations are ever-evolving - your processes and team members must be adaptable, continuously refining operations in response to resident trends and technological advancements.
Residents desire added convenience
Convenience remains a top consumer expectation; many residents find themselves asking this question: How will this make my life easier or how will it make it better? Services that offer an added aspect of convenience, including in-home technology, offer residents an enhanced living experience while also lowering operating costs.
For example, by offering a bundle of exclusive service and technology features that empower your residents to enjoy a seamless living experience, renters can save time and money.
Best-in-class customer service
Go above and beyond to uphold a high level of customer service that creates a positive experience at each milestone in the resident journey. Providing an elevated standard of service across your community prioritizes your valued residents' wellbeing.
When future and current residents call with a question or concern, you want to be there for them. Answering the phone with a helpful attitude goes a long way when it comes to a resident's overall experience.
Drive the same mission forward
Delivering a standout resident experience requires alignment on the fundamentals. When each team member reflects their company's core values, it creates a collaborative environment focused on strong work ethic, integrity and trust. This mindset ensures everyone on your team is passionate about driving the same mission forward.
Below are three tips to help uphold core values across an organization:
- Align with your clients on how your value-based operating philosophy directly supports their investment objectives.
- Hire with your core values in mind.
- Values need to be uncompromised at every level of the organization – from onsite Service Technicians to Managing Directors and everyone in between.
The key to setting your multifamily community apart is to deliver an experience that showcases what your organization truly values and in turn, exceeds resident expectations from start to finish.
ABOUT THE AUTHOR
Tom Hoye, Managing Director of Multifamily Investments at Mark-Taylor, aligns with each of his clients' investment objectives to achieve financial and operational goals. His direction helps his community teams navigate complex projects and manage resident relations.