RCKRBX’s Post

An abundance of opinions exist with regard to what drives resident satisfaction and NOI–from the latest amenities to cutting-edge smart technology, multifamily owners and operators are trying it all. Resident reward programs are gaining momentum and leading the charge to improve the overall operations of a community. Read more to learn how rewards drive results: https://hubs.la/Q02ZdHkm0 #multifamily #digitalpayments #residentrewards #businessgrowth

Resident point programs are helping to shape the future of multifamily living. This article highlights Greystar's marketing team's creative approach to implementation. In my opinion, the key lies in aligning rewards with each community's unique demographic and needs. It's important to acknowledge the diverse preferences residents have regarding "rewards" or "perks." #Multifamily #ResidentEngagement #CommunityRewards

Technology and innovation continue to have a massive impact on the real estate industry. For example, rewards programs have completely changed in the last few years having a much bigger impact on driving top-line growth. Bilt Rewards is helping owners retain tenants, learn what services and amenities they find most valuable, and incentivize behaviors like early lease-renewal and friend-referral. Bilt Rewards’ recent launch of Resident Loyalty 2.0 gives the multifamily sector a single, comprehensive platform for leasing success and resident engagement. When property managers issue their standard leasing incentives through Bilt, they see up to 20% higher renewal rates, 3x increase in early rent payments, and a 10% increase in referral volume. https://lnkd.in/eKuurA2v

Facing rising challenges like occupancy, resident satisfaction, and online reputation, multifamily operators are increasingly turning to resident rewards programs as a solution. Offering perks for on-time payments and lease renewals not only boosts retention but also encourages digital adoption and positive online reviews. What do you think? Is this just the latest industry buzz, or could a rewards program really make a difference for your properties? https://lnkd.in/ec_A3RG8

𝐊𝐞𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭 𝐟𝐨𝐫 𝐀𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 𝐎𝐰𝐧𝐞𝐫𝐬 Renters today are demanding more from their living experience. According to the RealPage, Inc. 2024 National Multifamily Renter Study, 97% of apartment residents would be more likely to renew their leases if they had access to enhanced offerings like seamless digital apps, loyalty programs, and moving assistance. 𝐖𝐡𝐚𝐭 𝐑𝐞𝐧𝐭𝐞𝐫𝐬 𝐖𝐚𝐧𝐭: ☑️ 𝐄𝐚𝐬𝐲 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐨𝐧: Nearly all respondents said they’d choose or renew a lease if dealing with property management was as easy as using Amazon. ☑️ 𝐒𝐭𝐫𝐞𝐬𝐬-𝐅𝐫𝐞𝐞 𝐌𝐨𝐯𝐢𝐧𝐠: 97% of renters are more likely to choose apartments offering moving assistance services. ☑️ 𝐋𝐨𝐲𝐚𝐥𝐭𝐲 𝐑𝐞𝐰𝐚𝐫𝐝𝐬: While 96% of renters belong to at least one loyalty program, only 16% participate in apartment rewards programs. Yet, 98% believe they should be rewarded for on-time rent payments. To stay competitive, consider integrating these features into your properties. Renters are looking for a modern, integrated experience that makes their lives easier and rewards them for loyalty. #apartmentowner #multifamilyowner #propertyowner #apartmentgoals #apartmentowners #multifamilyliving #propertymanagement

In multifamily living, the human touch remains unparalleled. Good property managers build relationships and communities, and that's something no app can do. @Inman https://buff.ly/4em6ClH Inman #Multifamily #HumanConnection

The multifamily industry is facing a set of persistent challenges that have only intensified in recent years. As these issues come to the forefront, resident rewards programs are emerging as a critical solution, not just a passing trend. Read the article at https://hubs.la/Q02MB2470 Ready to learn more? Download the new Industry Insights report to dive deeper into how rewards can transform your property’s performance: https://hubs.la/Q02MzWs10 #multifamilychallenges #DomusoRewards #industrysolutions

60% of positive multifamily property reviews mention on-site teams, according to a new study. Mary Salmonsen reports that positive in-person experiences significantly affect a renter’s sentiment about their community. Considering the strong impact staff have on resident satisfaction, staff need to be empowered to better serve residents — but that’s easier said than done, considering on-site staff have never-ending to-do lists. In the average multifamily building, here’s where staff are spending their time (and salary): 🔑 Pulling keys from key storage systems: 250 hours per year (more than $7k of their salary) 🏠 Manually checking on vacant units: 83 hours per year (more than $5k of staff salary) 🔒 Rekeying locks: $50 per unit (nearly $6k per year) With tedious tasks like these on their plates, it’s hard for staff to find time to focus on cultivating a better resident experience. Read the full article on Multifamily Dive 👉 https://lnkd.in/e5bgCEHS

A well-managed package management system has evolved into a necessity for communities. Residents expect convenience to be a part of their daily living experience, and this has a direct effect on resident satisfaction and retention rates: rptn.io/ANAcknhoB0A

🚀📦✨ Smart Package Lockers: An Amenity That Delivers MORE ✨📦 With e-commerce projected to hit $8.1 trillion by 2026, the demand for smarter, more secure package management has never been greater! 🚀 Here’s why smart lockers are the ultimate modern-day multifamily amenity: 🔒 Top Resident Priority: Ranked #2 by apartment residents in 2024, just below secure parking! 🏆 📊 Resident Engagement: 90% use lockers weekly. 73% receive 1-3 deliveries per week. ⏰ 24/7 Convenience: Seamless access for everything from medications to subscription boxes. 🛡️ Package Protection: Say goodbye to theft and delivery hassles. Smart lockers aren’t just a perk—they’re a necessity for today’s residents. Ready to enhance your property? Let’s connect! 💬 #SmartLiving #PackageSolutions #MultifamilyInnovation