Calendar icon July 18, 2023

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.

 

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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. 

 

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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 portal 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.

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Best Tenant Onboarding Software in 2024

The tenant onboarding process is an opportunity for property management companies to establish positive expectations and create an excellent resident experience. It’s one of the most opportune moments for resident education – in other words, to help them understand key responsibilities and the information they’ll need to take care of the home and their side of the lease, in tandem with investor and property manager responsibilities. It’s also a process with a number of different steps – many of which have traditionally involved cumbersome, manual processes. In today’s post, we’ll examine tools that alleviate these processes, and identify some of the top performers on the market. Note on language: "Tenant onboarding” is an industry term used from time to time. But we here at Second Nature are trying to evolve the word "tenant." We’ve seen the incredible work property managers do day in and day out to make renters feel like they’re so much more than just tenants – they’re residents. Making renters feel like residents isn’t just philosophical, it also encourages them to invest in care for their home and add value to the property. This is why, at Second Nature, we prefer to call tenants “residents.” Like you, we think of them as people first – making your property their home. What is tenant onboarding software? It’s important to dispel the notion that “tenant onboarding software” is a monolithic category of software applications. There really is no such category, as no single rental property management software will cover everything you need to address. Instead, property management companies are using disparate software tools to solve different pain points during the onboarding process. Indeed, the tenant onboarding process can present a multitude of pains for both property managers and tenants. Below are just a few examples. Cumbersome, time-consuming paperwork Filling out paper applications, manually processing documents, and chasing signatures can eat up valuable time. Communication challenges Back-and-forth messaging, calls, and emails regarding lease agreement details and payments are inefficient and can lead to misunderstandings. Data security concerns Traditional methods that use physical documents pose a risk of data insecurity or outright data breaches. Process inefficiency risks Accurately tracking onboarding tasks such as key handover, utility activation, or maintenance checks can be difficult without proper tools. Lack of transparency Uncertainty about application status or lease details can be frustrating for new tenants. Tenant onboarding software tools alleviate challenges such as these by offering features that translate into a smoother experience for everyone involved, saving time, reducing errors, and fostering better communication. Key features expected of tenant onboarding software There are several attributes that you should expect to find across tenant onboarding software tools, regardless of the specific platform or category. Here are some of the key features: User-friendly interface Clear instructions and intuitive functionality should enable property managers, potential tenants, and tenants (as well as property owners, in some cases) to use the software easily. Mobile accessibility In today's mobile-first world, the ability to access the software and complete tasks like online applications, payments, or maintenance requests on smartphones or tablets is crucial. Secure data management tools The software should ensure that all sensitive applicant and tenant PII (personally identifiable information) is stored securely with encryption and suitable access controls. This is particularly important for SaaS-based applications. Workflow automation Features like automated application processing can significantly streamline the onboarding process. Integration capabilities The ability to integrate with other onboarding tools, accounting software, or background check/tenant screening services in real time can create a more unified workflow. Reporting and analytics Property managers should be able to generate reports on application trends, rent collection rates, or tenant feedback to gain valuable insights. Customer support The onboarding software provider should offer comprehensive resources to support property managers in their usage of the software. This may include tutorials, webinars, or dedicated customer support representatives. Top Tools for Tenant Onboarding From the initial applicant screening stages through to move-in and the tenancy period, we’ll take a look at each step of the tenant onboarding process and popular tools in each category. 1. Applicant screening Property managers often use tenant screening services such as Plaid, Finicity, Pinwheel, and others to conduct rental screening and replace manual document upload and review. As identity fraud becomes more prevalent, identity verification tools are also becoming more sophisticated. Note that Second Nature’s Resident Benefits Package includes a $1 million identity protection program and credit building for tenants. These programs protect your tenants and help draw people who want to build responsible financial security. 2. Lease management Property management software solutions like AppFolio or Buildium often include features for lease creation, storage, and e-signing within their suite. Platforms such as DocuSign, PandaDoc, or Dropbox Sign enable property managers to then send lease agreements electronically for secure online signatures. Pay attention to the differing pricing models between these platforms, as they can vary substantially. 3. Rent collection and payment processing For rent collection, PMs typically require certified funds and will accept ACH/debit, or leverage a service like PayNearMe, where residents can pay cash at a local Walmart or convenience store location (while on the PM side, the process remains completely digital). Payment processing is typically handled by property management accounting software, although third-party tools like Zego are used in the SFH space. In addition, tools like EliseAI (a chatbot-type tool for use cases such as leasing, among others) are innovating in this space. 4. Move-in communication and coordination Platforms like AppFolio, Buildium, Propertyware, or Rent Manager provide a central tenant portal to access lease documents, pay rent, submit maintenance requests, and communicate with property managers. As for task management, Tools like Leadsimple, Aptly, or Monday.com can be used by property managers to track and assign move-in tasks, ensuring a smooth transition for new residents. For instance, the onboarding process may include tasks such as orientation calls and/or enrollment of the resident into ancillary products and services such as Second Nature’s Resident Benefits Package (RBP). Second Nature also includes a move-in concierge as part of its RBP. 5. Feedback/reputation management tools Tools like Grade.us, opiniion, and Birdeye can be used to gather feedback from tenants after move-in, helping property managers identify areas for improvement. The specific tools you use will depend on your requirements and processes. However, by and large, any of them can be used to transform the tenant onboarding process from a paper-heavy slog into an efficient digital experience. Final thoughts Remember, the onboarding process is the ideal mechanism for enhancing communication, establishing expectations, and creating a positive resident experience. Our top recommendation for ensuring a world-class onboarding and resident experience is to build a resident benefits program. Second Nature has pioneered the only fully managed Resident Benefits Package for single-family property managers. Learn more about resident experience management in our State of Resident Experience Report.

Calendar icon April 25, 2024

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How to Optimize Operational Frequency with Processes and Software

Property management software is currently helping property managers establish efficient and reliable processes at a higher rate than ever before in the PM industry. With that development in the proptech industry has come the development of tech for self-managers that has changed the capacity of the accidental landlord. Thus, the demand for efficiency at scale has risen in order to separate the professional from the amateur, and the establishment of processes that allow such a thing has become a critical topic for professional property managers. Optimizing property management processes Carter Fleck of Triton Property Management, a growth-oriented firm out of northern Virginia that is approaching 300 units with larger goals for 2024, joins us to share his expertise on process definition. Fleck is the General Manager responsible for operations and strategic growth, and he has been developing effective processes to ensure efficiency at Scale at Triton, and in the process, he has garnered an understanding of how to do so. “A lot of failing,” says Fleck. “In the early days, we were getting a lot of good and bad feedback, but typically the bad feedback is what you adjust off of.” Fleck believes that assumptions are the enemy when it comes to defining procedures and sourcing software for your PMC. “The image that we use is if you're going to build a sidewalk before people even start walking on a field, it's kind of dumb. You have to see where people will walk first, and then you'll build a gravel path. So number one, you see where they walk, see where their intentions are in the grass, then you build a gravel path. And then eventually, once that walkway is established, that's where you build your processes and procedures.” The analogy is a visualization of the concept that you have to see how people operate before you can establish processes to make how they operate more efficient. Fleck encourages the negative experiences of process breakdown and cites them as the only way to really nail down what your processes should look like. “Over time, between the tenants giving feedback and owners giving feedback, we adjusted our processes. It's a mix between figuring out where the owners walk and where the tenants walk, and then building paths that align.” Fleck details an example of how Triton adjusted its process after an assumption it made got challenged: "We had an assumption that payment plans were helpful for residents," says Fleck. "And so the way we handled delinquency is we would reach out to them and would be like, ‘you need to pay this. Do you have a payment plan option?’ And they would always say yes. Our process was we'll put you on a payment plan, we'll invite you to a payment plan, you'll accept the payment plan, and then we'll monitor the payment plan. That in itself was a lot of work, but we thought it was doing well. But some of the owners that we had managed for mentioned that another property manager doesn't allow any payment plans. And if you're not fully paid up by the end of the month, then the eviction process starts if you’re over $500 due. So we're like 'alright, well, we'll serve you in that we'll change our processes.' And we did, and our delinquency percentage shrunk significantly. So, consistently, by the end of every month, we're around 5% APR. Whereas with payment plans we're like 5 to 10%.” Fleck obviously credits seeing the assumptions in motion as what prompted the need for process iteration, and he firmly believes that making too many of these assumptions is one of the biggest mistakes growing property management companies make. Like any business experiencing growth, process definition is critical to achieve efficiency at larger volumes. What Fleck is essentially advocating for is processes based on what you know, not what you think, and there is a big distinction. Managing property management software Fleck has installed both general and tech-based processes, and cites that understanding of how people interact with processes as the key in both areas. "They don't focus on user experience. That's really important. Number one, how the tenants like the tech, but specifically how the people who are using the tech are gonna adopt it. So when we were choosing a rent inspection software, we had so many people recommend one, software and I, we almost pulled the trigger on it. But then I was like, let's do a trial run on both these two. And we chose the other one because it was way better user experience for property managers. So user experience, both for us and for residents." Tech is a tool that is ultimately as good as its users, and if it's not used correctly or at all, its potential is wasted. An over-reliance on technology can actually go hand-in-hand with an under-reliance, as both often spring up from a lack of understanding of how to choose, implement, and manage it. In this vein, Fleck can't recall many property managers who operate with too much tech. As long as you're not purchasing redundant software and you've done and continue to do your due diligence, tech-based process can make your business more efficient. "I more often find myself having that conversation," says Fleck. "When I'm talking to property managers in my sub-market, who aren't connected with like a NARPM, who aren't connected with like a Crane group, or who aren't connected with a Second Nature, aren't connected to the tune of what the property management industry is doing and the cutting edge of it, I'm just like, 'you could save so much of your time and you could scale this so much more if you only even if you just had tenant Turner, or if you had LeadSimple.'" No matter what your story is a property manager, if growth is in the cards, so is process and technology refinement. Hopefully, Fleck's experience in these areas can help you stay efficient and organized as door counts grow.

Calendar icon April 19, 2024

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