Retaining residents isn’t about offering free coffee in the leasing office — it’s about creating an environment that residents enjoy coming home to. And one of the unique ways to improve resident retention within a property is by holding resident appreciation events.
We already know that fostering connections and sense of community in a rental property is an ideal way to engage with residents. Along with the other benefits that resident events offer, there’s no doubt that if a property hosts fun and engaging activities, residents will be happier and, perhaps more importantly, will feel more connected.
Resident appreciation events offer a range of benefits, the foremost being the fostering of an inclusive community. Hosting resident appreciation events offer residents the chance to get to know their neighbours, as well as the management staff, forming more personal relationships than just handing over the rent check every month. Additionally, resident engagement will likely encourage residents to stay longer, treat the apartment with respect, and be more friendly to their neighbours.
It also motivates residents to leave positive online reviews and recommend the building or complex to their friends or acquaintances, a critical component to the reputation of the community. Overall, hosting resident appreciation events could lead to less turnover, higher occupancy and quality residents, which means a more profitable bottom line.
Ottawa-based property management company, CLV Group is aware of the benefits of holding these type of resident events. For over 45 years, CLV Group has served much of the Canadian rental market with a portfolio of properties spanning more than 20 cities throughout Ontario (including Ottawa and the Greater Toronto Area), as well as parts of Quebec.
As a way to show appreciation to its residents, CLV Group recently held a complimentary barbeque at several of its properties, hosting a special day and serving up food, drinks and activities.
“Resident events have so much impact on the community. It shows that you, as a company, care about the lives your residents live. We love hearing from our residents and getting together with them. Seeing everyone mingling for a fun filled afternoon with food, treats and games really shows the sense of community you can have within a rental home,” says Ashley Peeling of CLV Group.
It’s not just residents who benefit from the events, the staff benefits, too. These types of gatherings allow staff to hear directly from residents about what services and support residents would like to see, and also what services are most valuable. The events are also an opportunity to share information about current and upcoming community initiatives and resident service programs.
Regardless of the party, planning and promoting are key. Don’t forget to promote upcoming events on social media pages or property management website. In addition to inviting residents to upcoming events, advertising this way also shows potential residents how much a property cares about its residents.
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