There is no doubt that numerous factors go into the overall bottom line that you end up posting at the end of each quarter. But one thing that can’t be overlooked is community. Instead of just viewing each resident as an individual number on a spreadsheet, taking the time to foster a sense of community can help you in a big way.

Some of the main reasons that creating that community vibe is important includes the following.
 

•    It helps those who rent from you feel more at home. Whether it’s low income housing or upscale apartments, a rental should feel like their home. And when you foster community vibes, it helps them settle in and feel comfortable. 

•    When your residents feel as though you’re creating a community, they’re more likely to come to you with problems or questions. This in turn helps you be a better manager and deal with issues associated with your properties quickly. 

•    The stronger the community, the stronger the loyalty. Residents are more likely to stay with a rental that they feel at ease in.

•    Word of mouth is one of the most effective marketing tools out there, and the more of a community vibe your company creates, the better.

The simple fact is that creating that community vibe has a direct impact on your bottom line and on the ease with which your property management efforts move ahead. But how do you go about creating a community feeling in your properties? There are numerous options to think about. Some steps include:
 

•    Create a Facebook group just for your residents and post on it regularly about things that matter to your properties. 

•    Check in with your renters periodically to ensure that nothing is going wrong. Good management begins with showing them that you care. 

•    Respond to your residents quickly. If you’ll provide fast and reliable customer service, it can increase resident retention dramatically.

•    Send out community newsletters with updates about local happenings as well as news about the properties. 

•    Host events like barbecues or giveaways to get residents involved in the community and in your own interactions with them.

building a stronger sense of community. The key is to focus on being friendly, approachable, and supportive of your residents. Doing so can translate to great things for your properties and your bottom line. Contact us to learn more about improving your property management results.