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Tuesday, April 13, 2021

The change in residents communication preferences & its importance to you

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All that you do to foster resident communications depends on their age and it really matters to how you’d manage things further. Throughout the cycle of active contract, the way you communicate with residents would decide on making or breaking of the professional association.

Real estate managers are always eager to deliver the kind of service which appeals and retain apartment rentals but if you look below the surface, there’re various factors influencing on how tenants perceive your customer service and the rental unit itself.

In a general survey of approximately 1200 tenants in the U.S, the response represented a significant demographic shift with change in their needs and preferences. Resident communication inclinations are evolving rapidly and the report gives insight on how property managers can modify their approach and communicate with prospects based on their demographics.

Whether your preferred communication medium is mobile technology, smart and interactive application, social media channels or face-to-face, here’s how to master the art of communication for tenants across the board.

Be savvy of the technology

Even when having a website and an online payment gateway, you’re probably under the impression of checking off with the technology. On the contrary, the survey unveiled another thing which is tendency of millennials for ever advance technology especially when it comes to streamline communication.

Number of millennials in the U.S. has been estimated around 83 million, born between 1981 and 1996. The count is expected to overthrow Baby Boomers by 2019 and so if you’ve been ignorant so far, now’s the time to get active and pay attention to expectations of the millennials.

Millennials are more eager to clear their rent, submit maintenance bills and actively sign the apartment rental lease online. That said, this generation is more active online and likely to communicate with you through the internet platform whether it’s text, in-app communication and so on. They’ll simply reach out for their smart device and contact you either on call or email.

Besides the millennials, Generation Z is also digital-savvy tenants relying on their smart device for almost everything. All those who’re born in the year 1997 and afterwards fall in “Generation Z” which makes it obvious that they’re raised when technology advancement was at its peak. These are digital natives actively engaged in web-based communication; seeking homes powered by smart technologies namely thermostats, locks, security features and more.

But as younger tenants are saturating the rental market, you should be proactive and get ahead in the competition by acquainting with the technologies and make online communication a norm; not an exception.

Invest in digital marketing

Remember that your first impression would make an impact before even a resident moves in, which would decide on overall relationship and future prospects. Retaining a tenant begins with initial interaction which is likely to take place online.

Search metrics further revealed that more and more renters from all generations look for rental properties online and prefer browsing official website, social media posts and national listings. Be sure to take full advantage of the medium and expand your digital presence.

Generate word of mouth above all

Indeed, millennials make most of the headlines when it comes to real estate buyers and rental but, it isn’t all about them. General X actually adds up to one-in-three households to rent the home. And with online platform, Generation X also relies on word of mouth to take essential renting decisions. Generation X comprises people born between the years 1965 and 1980 which means these are also the people to bear the brunt of Great Recession.

It’s better to approach Generation X the traditional, offline way by increasing your physical presence in the community. Generation X is likely to find trustworthy listings on the local bulletin billboards, community-based social groups and word of mouth information from reliable sources. This generation relies more on personal and lifetime experience rather than blindly following the internet so you need to be extremely professional and build an unshakeable trust.

Also Read: How Living in Greenery Can Add Happiness in Life

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