tenant retention

With the shift towards remote work and the newfound freedom many people are finding in their living situations, tenant retention is becoming more difficult to attain.

Rent is on the rise and tenants are seeking affordable properties with more to offer. It is difficult to live in a community that does not offer easy access to at least some amenities, but it can be hard for property owners to offer these things if they do not have ideas. Luckily, though, we are here to help.

Find A Contractor

Read on to learn seven of the best amenities to help keep residents on your property.

1. Fitness Center

A lot of renters consider fitness centers to be a necessity. In fact, they are usually willing to spend extra each month for access to one. Usually, pools, hot tubs, and even saunas will even be part of this.

You can include things like cardio and weight machines, but residents are also seeking space for activities like yoga, pilates, and other fitness programs. Scheduling time for poolside events and classes is another great thing to consider. All of these things allow residents the opportunity to socialize while staying healthy and active.

2. Business Center

Both business centers and libraries provide the perfect quiet space many residents are searching for away from their apartments. Also, including things like computers and printers is an added convenience for many that need them.

Even if people do not need monitors, a business center is a perfect place for remote workers to convene during the day. Many are stuck in their apartments most of the day, so having a space they can go to work or have meetings is a huge benefit. Placing things like water bottles or coffee machines here is another great way to invite remote workers to your property.

3. Storage Space

For many (especially in big cities), storage can be hard to come by.

That is why making use of any extra space you can utilize is essential. Not only does it help residents keep their belongings safe and secure, but it helps keep the property itself clean and clutter-free.

Find A Contractor

Whether it is extra closet space in apartments or keeping on-property storage units, residents can make use of both when they move in. Residents appreciate an organized, tidy space, and giving them easy access to extra storage is a great way to show them you value their presence.

4. Pet Amenities

Pets are members of the family too, and providing amenities for them is just as essential as humans. The number of pet owners has increased alongside remote workers, and giving residents easy access to things like a dog park or bathing stations is a great way to accommodate everyone on your property.

Pet enrichment is important for many residents, and if you give them easy access to it, they are going to feel more willing to call your property their home.

5. Smart Property Access

tenant retention

Amenities, parking, and controlled community access are all essential for renters and their well-being. Without these essentials, it becomes a lot more difficult for people to live comfortably and safely.

Security is a huge reason for these concerns, but access has a lot to do with it too. As people flock to affordable communities and populations increase, commodities like free parking are hard to access. Providing gated communities and easy access with electronic fobs is a great way to give residents the convenience so many of them are looking for.

Find A Contractor

This can also look like mobile unlock abilities, video intercom access, or remote unlock. All three allow residents to visually verify and allow access any time it is needed. They can also grant one-time guest access to people who need it, so they will know their property is protected at all times.

6. Property Playground

tenant retention

Just like pet amenities, providing enrichment for children is important if your property is a family-friendly one. It helps everyone stay active, and it gives younger residents a place to find friends and stay entertained when they’re at home.

On-property playgrounds are also safer than traveling to local parks or businesses, so you are providing parents with extra peace of mind at the same time.

7. Grab-And-Go Markets

Nothing can beat the convenience of an on-property convenience market. This is another convenience of smart properties because residents can simply grab the items they want and charge them to their units. Not only is it an extra convenience for residents, but it is another revenue stream for commercial property managers.

Raising rent every year might not be feasible, but providing an extra amenity like convenience food can help save someone a walk or drive to their local convenience store, and you are likely to find that some residents are willing to stay for that reason alone.

Find A Contractor

Adding free coffee to areas like this is another great thing to do. Convenient machines that offer specialty drinks like lattes or cappuccinos at the press of a button are a huge commodity for many renters, and it is something a lot of new properties have begun implementing.

You are saving them money on a drive and a trip to Starbucks, but you are still making money on the snacks they are wanting.

Do Not Neglect Your Tenant Retention

When it comes to tenant retention, there are a lot of different things you can do to keep people happy. What matters most is that you are trying. When you place effort into your property, residents notice.

People enjoy living in places they feel seen and taking the steps necessary to show them you appreciate their tenancy is essential for retention. You do not have to do it alone, though. Contact us today to get started.

Find Contractors Using BidSource

Property managers can use BidSource to have our team find a contractor ready to assist with your next project. Share your project details using the form below and our team will be in touch with a qualified contractor!

By submitting this information I agree to the terms and conditions of the Property Manager Insider and BidSource privacy policy.(Required)

About The Author