Controlling tenant turnovers through resident retention programmes

Almost 60% of all tenant turnovers is controllable though a proper tenant retention program. Thousands of dollars each month can be saved due to this controllable turnover. Resident Rewards offers free resident retention programs to apartment communities nationwide.

Resident Rewards is a leading developer and provider of tenant retention programs for apartment communities throughout North America. Such tenant reward schemes increase occupancy rate, decrease controllable turnover and stop wastage of thousands of dollars in revenue each month .One such good method is to create a resident retention programs to keep the turnover rate low to keep tenants happy and work towards tenant satisfaction.

Every time a tenant moves out in the absence of tenant retention programs, the landlords have to incur expenses to make that unit rent ready. Therefore they lose the rental income for the time that the unit is down. Property owners can follow a proper strategy like tenant retention program to reduce the potential costs associated with a vacant unit and entice the tenants to stay through tenant retention programs.

Residential rewards involve a new lease 30 days before renewal to maintain tenant retention. This tenant retention program that the tenant can select from if they renew their lease guarantees tenant satisfaction. This is followed up with a program to reward the tenant for tenant retention through online resident rewards.

Online resident rewards program allows the tenant to select tenant rewards or certificates for any place including local department stores, bookstores, grocery stores, gas stations or online vendors. The tenant online resident program has an option for selecting two items from one category of items.

Tenant retention list includes items that will improve the condition of the unit (paint, tile floor in kitchen, carpets professionally cleaned) and items for the tenant satisfaction. (iPods and DVD players). Tenants are allowed to pick two items from the more expensive category of online resident rewards to entice them to stay.

In the highly competitive apartment industry, tenant satisfaction surveys by Resident Rewards instantly make the properties more enticing to prospective tenants. Unlike other programmes, resident retention program encourages them to stay longer as residents. Online resident rewards are provided by Resident Rewards to allow the residents to save money. The longer they stay within your properties, the more savings and rewards they’ll accumulate. Hire the professional services of Resident Rewards and see the difference.