It’s the bottom of the 9th, the bases are loaded, and the Atlanta Braves are down by three. They need a miracle here if they want to keep their dreams alive. But wait, what’s this? A pinch hitter!? Stepping up to the plate is…resident experience hacks for multi-family property owners???
Who’s messing with my call sheet? Is this some kind of trick!?
Nope, no tricks—just the best ways you can hit a “grand slam” on your residential rental properties. Everyone loves life hacks; and lucky for you, we’re full of ’em!
The Anatomy of a Happy Resident: Key Factors in Residential Experience
Plenty of things make tenants happy: running water, working heat, roofs that don’t leak. But you’ve already hit on all those…we hope. So, how can you take the resident experience several steps further without breaking the bank?
Firstly, it helps to understand what will make your specific tenants happier. What do they think of the interior walls? Flooring? Roofing? Are their appliances holdovers from the 90s? We’re all for nostalgia, except when it comes to our dishwasher.
Conduct a resident satisfaction survey to see if you overlooked any areas. You’ll be surprised by all the little things that make a massive difference.
Studies have shown that the services tenants receive from management matter more than physical building qualities. Amenities, friendly staff members, and maintenance go a long way, especially when costly building upgrades are out of the question.
One thought-provoking question you may consider asking is: How would you describe living here if you were talking to a friend? The neutrality of this question leads to honest feedback.
What’s more, if your tenant moved out, would they recommend a friend to take their place? If the answer is yes that means your tenant is willing to stake their friendship on the quality of your rental. After all, what kind of friend makes a bad recommendation on purpose? (It also means you’re providing a stellar resident experience, so snaps to you!)
Leveling It Up! Elevating the Residential Experience in Multi-Family Developments
Happy tenants equal more money. More money equals a happy landlord. Happy landlords equal a better resident experience. And ’round and ’round we go!
Here are three ways you can “level up” your multi-family properties this year:
Update, Update, Update: When tenants move out, consider updating the unit before new tenants move in. For instance, new floors, appliances, and paint jobs are great ways to add value. In-unit washer and dryer setups (if feasible) are another luxury that most people are willing to pay for. These updates allow you to raise the rent, so you get what your unit is worth based on local market values.
Create a Sense of Community: Don’t neglect shared spaces within your building. Residents who feel like they’re part of a community are less likely to leave. Gyms, pools, and playgrounds are a few popular ideas, but there are so many more avenues to explore. Is there something your tenants want that the local area lacks? If so, is there a way to install that amenity on the property?
Wi-Fi/Cable Included: Wi-Fi might be more important than oxygen nowadays. Bundling cable and internet with your rental fee will attract tenants who don’t feel like dealing with the companies themselves. Which is everyone.
How a Paint Job Can Spell the Difference from Meh to Home Run
Never underestimate the power of paint! Old, cracked paint is like a sad dribbler to the shortstop. But an appealing exterior coat is as exciting as a home run over the left-field fence. In the end, it all comes down to curb appeal.
Curb appeal is what catches your eye while you’re walking or driving by. It’s the thing that makes you say, “Wow, I wonder what the inside looks like!” With the right paint choices, you can elevate your curb appeal while improving the overall resident experience. A fresh coat is one of the best and quickest ways to upgrade instantly.
New paint makes something feel fresh and exciting. It grabs your attention immediately, especially if it’s a building that people walk by daily. As a result, they might consider filling out a rental application. More importantly, new paint shows your current tenants that you care about their home. So, they’ll be more inclined to sign on for another year (and possibly pay more rent—cha-ching!).
The question then becomes: What color should I paint my multi-family property?
Well, that depends on your painting goals. For instance, do you want to keep up with current trends? Or maybe you want to blend in with the historical surroundings? Do some research around the community. See what other buildings are doing and find ways to stand out (without looking like a sore thumb).
Kindness Without Borders: Worldwide Feel-Good Gems We Had to Share
Here’s a feel-good story that took the MLB by storm. As recently as 2021, Nate Fisher worked as a commercial credit analyst in the financial services industry. But he always dreamed of playing major league baseball. Lucky for him, the Seattle Mariners minor league system gave him a shot. Little did he know how drastically his stars were about to change.
The New York Mets were short on pitchers during the 2022 season. Needing someone in a pinch, they elevated Fisher to the 40-man roster. The next thing he knew, he was walking up to the mound, down 7-4 against the Phillies.
All Fisher had to do was keep the Mets in the game…and that’s exactly what he did. The team won 10-9 in his MLB debut. Skipper Buck Showalter said Fisher’s performance gave his players the hope they needed to beat their bitter division rivals.
With Professional Help, You Can Knock Your Resident Experience Out of the Park!
Why don’t baseball players join unions? Because they can’t stand strikes!
Professional baseball players are the best at what they do. The same goes for professional painters. They know their way around a palette like a runner knows his way around the bases. Just like you know how to deliver a stellar resident experience.
When you’re ready to elevate your multi-family properties, give the pros at Procoat Painting a call. Head to our website, scroll to the bottom, and dial the big white numbers. You can’t miss ’em! And if you need us in the meantime, we’ll be outside playing catch.
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