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9 Ways to Improve Your Resident Experience

Resident experience is the sum total of interactions and experiences a resident has with their property manager and the rental property itself – from the initial lease signing to the eventual move-out and all the day-to-day living moments in between. It encompasses everything from the quality of services provided, like timely maintenance and communication, to the overall livability and enjoyment of the property. In essence, it's how a resident perceives their rental journey in its entirety. Excellent resident experience management is the mark of a top-tier property management company. It boosts resident retention, satisfaction, and outcomes. In this article, we delve into nine actionable ways to enhance the resident experience in your single-family rental properties, fostering stronger relationships and, ultimately, achieving greater success in property management. Read the full report! If you haven’t already heard, we recently published our first-ever State of Resident Experience Report, which explores resident experience management: the pivotal touchpoints between a resident and a property manager. The report draws fresh insights from the SFR property management industry and explores the three top factors impacting resident experience right now. 1. A Seamless Move-In Experience Ah, the move-in process – the start of a beautiful friendship between the resident and the property manager. It's a bit like a first date – you're setting impressions that could make or break the relationship. A seamless move-in experience is your chance to roll out the red carpet for your new residents, showing them they've made the right choice (and have definitely swiped right on the best property around). And guess what? A resident who's had a great move-in experience is a happier one. Happier residents stay longer, pay on time, take care of the property, and make positive recommendations. Resident experience examples: How to build a perfect resident move-in experience Here's how to ensure your move-in experience hits all the right notes. Clear Communication: Provide detailed information about the new home and move-in process, including key collection, utility setup, and property rules. Who's handling utilities? Where's the best pizza joint nearby? Share all the important details. Welcome Packet: Roll out the resident red carpet with a welcome packet. Not only does it have all the must-know info, but it also says, "Hey, we're glad you're here." Include essential information such as garbage collection days, rules, important contact numbers, and a neighborhood guide. Property Readiness: Nothing dampens spirits like a flickering light on the first day. Ensure the property is thoroughly cleaned, all appliances are working, and any previous damages are repaired before the move-in date. Efficient Paperwork: Let's face it, nobody loves paperwork. Make it painless with easy online forms and digital sign-offs. Personal Touch: A little welcome gift can go a long way. It's like saying, "Welcome home, neighbor. We're going to rock this thing." Second Nature’s Resident Benefits Package includes a Move-in Concierge to ensure the process is seamless and personal. 2. Responsive Communication In the symphony of successful property management, responsive communication is your melody. It's the backbone of a harmonious resident experience, and when done right, it can elevate your property management status from “forgettable” to “virtuoso.” The sooner you respond to your resident’s queries or concerns, the more they'll feel valued. And a valued resident is a happier resident. Remember, good communication isn’t just about speed—it’s about clarity too. It's like being a great tour guide in the bustling city of property management—clear, informative, and always ready to help. Ways to improve communication with your residents Let's explore some best practices: Multiple Channels: Embrace the digital age! Offer various communication channels like emails, text messages, phone calls, and even a resident portal. Variety is the spice of life, right? Be Proactive: Don’t wait for your residents to reach out with issues. Regularly check in and ask if they need anything. Set Expectations: Be clear about your communication protocols. Let your residents know when and how they can reach you and when they can expect a response. No one likes to be left on read! Listen Actively: When your residents speak, lend them your ears! Show understanding and work collaboratively towards solutions. It's a two-way street, after all. Be Respectful: Always communicate with respect and professionalism. Treat your residents the way you’d want to be treated – it’s the golden rule, even in property management! 3. Better Maintenance Services with Quick Response Times Think of maintenance services as the superheroes of the property management world. When done right, they swoop in to save the day, ensuring minor issues don't escalate into supervillain-sized problems. Quick response times? That's your superhero's super speed. The quicker the response, the happier your resident, and the safer the day. How to improve maintenance services and response times Here's how to get your property management cape (sorry) flapping in the wind: 24/7 Maintenance Line: Offer a dedicated line for maintenance requests. To belabor our superhero analogy, it’s like having a bat signal for your tenants – they know help is just a call away. Online Reporting: Make it easy for tenants to report issues. An online system can keep things organized and ensures no request gets lost in the shuffle. Prompt Follow-up: Act swiftly on maintenance requests. Even if you can't fix the issue immediately, acknowledging the request and providing a timeline can ease the resident's mind. Regular Inspections: Regular property inspections can help you catch potential issues before they become major headaches. It's all about that ounce of prevention! Trusted Vendors: Work with reliable and professional vendors who provide quality work in a timely manner. They're your sidekicks in maintaining property harmony. 4. Resident Surveys and Active Feedback Gathering Resident surveys and feedback gathering are your property's annual check-up, a key health indicator for your relationship with residents. These invaluable tools allow you to take the pulse of resident satisfaction, uncover hidden issues, and celebrate what's working well. When residents see their feedback being valued and acted upon, it creates a sense of involvement and community, enhancing their overall living experience and driving resident retention. Importantly, active feedback gathering shows your residents that their voices matter. It instills a sense of ownership and care that can often lead to better property care and longer tenancies. How to turn resident feedback into a better resident experience Here are some ways to champion feedback in your property management: Regular Surveys: Don't just wait for the annual survey. Keep the feedback coming in regularly, like a monthly check-in or a quick poll after a service call. It's like catching up over a virtual cup of coffee – relaxed and informative. Feedback Boxes: Consider setting up a digital feedback box where residents can drop their thoughts, ideas, or concerns anonymously. Think of it as your modern suggestion box. Act on Feedback: Here's the real deal – taking action. Show your residents that their feedback isn't just being heard, it's being actioned. 5. Resident Rewards Resident Rewards are a huge factor in resident retention and satisfaction. Rewards make residents feel appreciated and have proven to incentivize habits like on-time payments and better care for the property. Perks like this can significantly boost resident satisfaction, increase lease renewals, and even stimulate referrals. It's a win-win all around! For multifamily and apartment community managers, that might look like community-focused programs. For single-family property managers, we’ve got some other tips. Second Nature’s Resident Benefits Package includes a robust resident rewards program. How to improve the resident experience with resident rewards Here's how you can sprinkle some rewarding magic into your resident experience: On-Time Rent Rewards: Create a system that rewards residents for consistently paying their rent on time. It could be a small discount or a gift card to a local coffee shop. Longevity Rewards: Celebrate lease renewals or long-term residents. A gift, a discount, or even a personalized note can make your residents feel valued for their loyalty. Referral Rewards: Turn your residents into ambassadors! Offer a discount or a bonus for any referral they make that signs a lease. Surprise Rewards: Keep the excitement alive with occasional surprise rewards. It could be as simple as a movie ticket or a voucher for a free car wash. 6. Incentive Programs Incentive programs are the next level of resident engagement that professional PMs offer. They can positively influence resident behavior, promote a sense of belonging, and even enhance your property's appeal to prospective residents. When residents feel that their good habits (like timely rent payments) are being recognized or they're being offered valuable services (like credit reporting or identity protection), it builds loyalty and satisfaction. It's like saying, "We're in this together, and we've got your back!" How incentive programs can boost the resident experience Here's how to serve up a great menu of incentives for your residents: Credit Reporting: Offer a program that reports timely rent payments to credit bureaus. It's a win-win: they pay their rent on time, and they build their credit! Identity Protection: In a world where digital safety is paramount, offering identity protection services can be a powerful incentive. It's like providing an invisible, protective bubble around your residents. Rent Discount for Referrals: Encourage residents to become your ambassadors. Offer a rent discount or a gift for successful referrals. It's like having your very own fan club. Early Payment Incentives: Reward residents who pay their rent well before the due date. It could be a small discount or a token gift, but it makes them feel appreciated. Rewards for Green Habits: Encourage residents to adopt environmentally friendly habits, like recycling or energy conservation, and offer incentives for their green efforts. This can really help in SFR when you don’t have the same level of control as PMs managing an apartment building. 7. Support Tools Support services work behind the scenes, often unnoticed, but they play a crucial role in streamlining the resident experience. From filter delivery subscriptions to online payments, these services add a layer of convenience and assurance for your residents. Integrating support services into your property management strategy can not only elevate resident satisfaction but also reduce your workload. It's like having a friendly assistant who's always ready to lend a hand, both to you and your residents. How to create support services that add convenience to your resident experience Here are a few ways you can amplify your resident experience through support services: Filter Delivery Subscription: Offering a filter delivery service for your residents ensures their HVAC system is always protected. It reduces your maintenance issues and costs and ensures they have a safe living environment. Second Nature’s filter delivery reduces resident and PM costs by hundreds of dollars a year. Online Rent Payment: Providing an easy-to-use online portal to process and automate rent payments and lease renewals adds a layer of convenience for you and your residents. Maintenance Request Portal: An online system for maintenance requests helps keep track of issues and ensures timely response. It's like having a 24/7 maintenance desk at their fingertips. Digital Notifications: Use email or SMS notifications to keep residents updated about important things like maintenance schedules, community events, or changes in property rules. Proptech solutions can help with digital support. Resident Portal: A comprehensive resident experience platform where tenants can access services, find information, and connect with management can significantly enhance the overall resident experience. 8. Concierge Services Concierge services are the above-and-beyond offerings that can truly set your property apart from the rest. This personalized attention can transform the often stressful processes into a smooth and enjoyable experience. How concierge services help with resident experience Here are some other examples of concierge services: Move-in Concierge: Who doesn’t want a personal assistant during the often chaotic time of moving? A move-in concierge helps with utility setup and pricing comparisons and provides local area information. Learn more about Second Nature’s Move-in Concierge in our Resident Benefits Package. Cleaning Services: Offering access to trusted cleaning services, whether for regular use or during the move-out process, can be a huge convenience. Maintenance Scheduling: A service to help residents schedule routine maintenance can keep their homes running smoothly without them having to worry about coordination. 9. Insurance While, as a property manager, you carry insurance for the physical property, it's equally important for your residents to have renter's insurance. Your coverage protects your owners' real estate investment. Renter’s insurance protects residents’ personal belongings and covers them for liability, and it's a small investment for significant protection. Plus, in case of a mishap, it can help the recovery process go much more smoothly. Resident experience examples: How to leverage a renter’s insurance program Here's how you can integrate insurance into your resident experience: Educate Residents: Make sure your residents understand the importance of renter's insurance, what it covers, and what it doesn't. This is critical information that every renter should know. Insurance Requirements in Lease: Include a clause about renter's insurance in your lease agreement. This helps to set the expectation right from the start. Annual Reminders: Send out annual reminders for policy renewals. It's a small step, but it ensures continuous protection for your residents. Renter’s Insurance Program: While most property managers require insurance, less than half of renters maintain coverage. Second Nature has developed a renter’s insurance program that has 100% compliance and leaves residents – and you – with the coverage they need. How SecondNature Improves Resident Experience Resident experience – those pivotal touchpoints between a resident and a property manager – can significantly shape the success of a single-family rental home. At Second Nature, we’ve built our entire company on the idea that resident experience can change the game in property management. Our Resident Benefits Package wraps up each of these strategies into an all-in-one resource for property management companies. It saves money for you and your residents and delivers the best in convenience and resident experience. Learn more about the Resident Benefits Package or read our State of Resident Experience Report.

Calendar icon July 18, 2023

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The Pod System Defined by Phil Vera

The Pod System helps Auben Realty provide an excellent resident experience at scale. ‍ Auben Realty CEO Phil Vera joined us on The Triple Win Podcast to discuss a number of topics in the property management industry, including the innovative Pod System. The Pod System is a management technique Auben instituted in recent years that’s helped them to focus on long-term benefits of a great resident experience while building meaningful relationships with investors to create a triple win where all parties benefit. This triple win is also the concept behind Second Nature's Resident Benefits Package. Related: State of Resident Experience Study What is the Pod System? As Vera explains, most property management companies employ traditional property managers who serve as a jack of all trades for the properties they are tasked with managing. This is portfolio-based management. They handle everything from leasing, to maintenance requests, to communication with the investor and the resident for their portfolio of properties. The end of the spectrum opposite a portfolio-based company structure is a departmental structure, where employees handle a specific piece of the management channel for many different properties. Neither is necessarily a wrong way to do things, and both work well for certain companies, but Auben was convinced there had to be a better way. Enter the Pod System. The Pod System is innovative because it has hybridized portfolio with departmental, creating teams of people to manage a portfolio of properties, with each person serving in a specific role. This structure allows Auben to provide excellent and reliable communication as part of its resident and investor experience while not sacrificing the advantages of an effectively scaled property management company. How does it create a Triple Win? Within each team, Auben employs an Investor Account Manager. These roles are designed to foster a great working relationship with investors and create open and accessible communication channels. “They are the investor’s main point of contact,” said Vera. “They build a relationship with the investor, provide updates, communication flow, all those things. If an investor has a question, they pick up the phone and they call their investor account manager and they have a direct line.” This is a differentiating experience for Auben, as most PM companies don’t offer a direct line of contact for investors. Auben employs a resident experience manager as well, which Vera touches on, noting the value it’s created for Auben. “We kind of went outside of the norm and we created the resident experience manager. So traditional property management, we’re focused on the investor. That’s our client. The resident pays rent. If you don’t pay rent, we’ll find someone else who can. We wanted to kind of think outside the box there and say ‘okay, the resident is important in investing because if we can decrease vacancy and reduce turnover and keep the residents happy, they’ll stay in our properties for long periods of time and ultimately increase the investor’s return as well.’” The innovative company structure used by Auben is a perfect example of creating a Triple Win. Auben has built itself around the importance of the resident and investor experience, and the satisfaction those parties receive as a result directly benefit Auben in the long-term. Experience is the key term there, as that's what property management companies need to start delivering to stay ahead of the curve in an evolving industry. Being part of the first wave of companies to transition their offerings from service to experience creates an opportunity to grow and thrive that isn't otherwise available in the SFR space, and that's the reasoning behind Auben's innovative pod system. Have you thought about implementing a Pod System in your PMC? Do you think it could work for you, too?

Calendar icon March 21, 2023

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What is the Triple Win Leadership Council? | RBP by Second Nature

Building an aligned future where every home is professionally managed. ‍ Disclaimer: Everything you see here is a living draft of the TWLC vision. This outline should be seen as a starting point, and we want to invite you to co-create what this really becomes. The initial TWLC commitment is for Phase 1 only. You can decide what your involvement looks like after July's In-Person Design Summit. ‍ WHO IS ON THE TRIPLE WIN LEADERSHIP COUNCIL? Trusted Property Managers. Key opinion leaders, entrepreneurs, and exceptional operators in the industry. Forward-thinking Leaders. Passionate about thinking differently, creatively, and pushing industry norms in innovative ways. Philosophically Aligned. Believers in the Triple Win approach, making property management better for residents, investors, and teams. WHAT ARE THE PURPOSE AND VISION? The Triple Win Leadership Council (TWLC) empowers property management professionals to build a future where every home is professionally managed, to the benefit of residents, investors, and teams. The TWLC will act as pioneers and stewards, so that the gap between outcomes and experiences professionals create is further distanced from those accidental landlords can create on their own. This makes professional management more attractive to more people and forces a choice instead of a comparison. Three guiding questions: - How do we build an experience so good, residents never want to leave? - How do we build an experience so good, investors never want to sell? - How do we build an experience so good, talent wants to grow in this industry? HOW WILL THE TWLC INFLUENCE CHANGE? The TWLC will set the "P.A.C.E." for positive, sustainable industry change through: - Shaping innovative Products - Spotlighting success with the Triple Win Property Management Awards - Co-creating conversation-inspiring Content - Transformational, connective Events CALENDAR & COMMITMENTS Phase 1: Formation DECEMBER 14, 2022: 60-MINUTE VIRTUAL KICK-OFF CALL FEBRUARY, 2023: 2-HR QUARTERLY STRATEGY SESSION MAY, 2023: 2-HR QUARTERLY STRATEGY SESSION JULY, 2023: IN-PERSON DESIGN SUMMIT (LOCATION TBD) Phase 2: Develop AUGUST, 2023: We will define this together. Phase 3: Scale To apply for TWLC Membership, click here. Apply Today If you would like further information or to ask questions directly, please contact: Laura MacMinn, Triple Win Event Coordinator, Second Nature Email: lmacminn@secondnature.com

Calendar icon November 17, 2022

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A CEO's Thoughts on the Evolution of the Property Management Industry

Keeping one eye down the road is critical in a changing industry. ‍ Matt Whitaker, CEO of Evernest, was kind enough to join us on The Triple Win podcast and share some interesting insights about the future of the property management industry. Whitaker has been a CEO since 2008 and has no shortage of experience managing a major player in the industry. His company is rapidly approaching 5,000 doors managed and now exists in 13 markets including Birmingham, Detroit, Nashville, and Atlanta. One of the topics of discussion between Whitaker and host Andrew Smallwood was the increasing polarization within the PM industry. Now, polarization as a word typically has a negative connotation to it, but it’s not necessarily a bad thing for the professional property manager in this case. ‍ Boutique vs. Scaled “I see the property management industry breaking into two worlds. I do believe there is still a place for the boutique manager in the future,” said Whitaker, who noted that some people may disagree with this assessment. But the personal relationships, nimbleness, and communication offered by a small-scale handful-of-doors property manager is hard for a large company to replicate. Not everything can be scaled efficiently and the value created by the smaller business’ ability to do those things well will continue to create opportunities for boutique property managers to thrive. “On the opposite end of that spectrum, I think there are going to be platform businesses that provide value to investors in other ways. So the boutique manager is the partner and the platform business, let’s call it, is going to provide an ecosystem of everything from property management, perhaps brokerage, perhaps maintenance, all these other verticals that are driving value for their clients.” Whitaker continued, “What I would be afraid of is getting caught somewhere in the middle, where you’ve got a big enough company that you don’t know all your clients, but you don’t have a big enough company that you can drive scale and give your clients and customers the benefit of that scale." Scale is certainly where Evernest is headed if it’s not already there, and Whitaker’s prediction is based largely on how companies like his and companies on the opposite side of the size spectrum create value for clients in two very different ways. This is the concept of differentiation, which is not achieved by the companies “in the middle.” Those companies are simply not going to be able to offer anything in the market that somebody else isn’t doing better. The spectrum Whitaker discusses can be warped to some degree, and some companies are attempting to do that by scaling aspects of the business, like personal relationships, that have not traditionally been scalable (see Auben Realty’s Pod System). But a general understanding of how a good property management company creates value for its investors and clients would lead you to the conclusion that, barring a major disruption, Whitaker’s polarization prediction is probably going to be right. “Begin with The End in Mind,” as Stephen Covey once said, is a concept that always applies in business, but is especially relevant now in the property management industry. Having a defined vision for your company can help you set meaningful goals and stick to them. Knowing what space in the industry you want to be occupying in five years can protect you from “getting caught somewhere in the middle.”

Calendar icon September 9, 2022

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A Sales Person's Review of Giftology by John Ruhlin

When I was first introduced to the book Giftology by John Ruhlin during a Second Nature sales kick-off a few years back, I didn’t really know what to expect. Andrew Smallwood and Scott Stollwerk wanted the team to read the book so that we could gain a better understanding of the impact of being intentional with gifting. I didn’t realize then how much this book would change me. Giftology is all about strategic and intentional gifting - gifting with a purpose. This book aims to change the way we look at giving gifts. Too often gifting is seen as something habitual and unintentional. But Giftology really provokes you to think about how we can turn a gift into not just something we give….but to really make it into a lasting moment. The book talks about strategic business gifting as well and how we can stop giving gifts to clients and prospects that are meaningless, have our logo on them, and have very little thought or intentionality behind them. The goal with strategic business gifting is to turn a prospect into an active loyalist. Meaning, they love your business so much that they’ll be a huge advocate for the business and will naturally talk about it with others without prompting. When I think back to Andrew’s introduction, I see exactly how Giftology fits with the way we do business at Second Nature. We are all about making a positive and lasting impact. We always ask ourselves how can we be better? How can we up our game and standards, and truly stand out from other organizations? Giftology fits in with each one of our core values at Second Nature. Relentlessly Resourceful: How can we be better at gifting? Especially at trade shows. Can we have intentional swag versus the standard items people typically grab and then forget about right away? Drama Free Zone: Giving a gift shouldn’t be about us…it should be about the recipient. How will they feel receiving something so thoughtful? Bias Towards Action: How can we use strategic gifting to not only gain clients but active loyalists? Performance Mindset: Strategic gifting helps close business. Humility In All That We Do: It takes a lot to truly take ourselves out of the gifting picture and learn about the recipient so that the gift serves its intended purpose. Integrity First: We need to think about the gift and thoughtfully consider what our purpose is for sending it. Will the recipient feel valued? Shatter the Status Quo: Nothing goes further with a client than a super thoughtful gift John Ruhlin’s book has really made me think about the ways I select and give impactful gifts, and has helped me to understand the true power of making a gift into a lasting moment. Have you read Giftology yet? Or have you received a gift that’s made an impact on you? Let me know what you think in the comments below!

Calendar icon May 19, 2022

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