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Feb 2007 - No matter how expansive a company’s efforts toward improving resident experience may be, resident feedback is the most efficient means of evaluating a community’s overall viability.
Resident feedback is essential to maintaining a viable apartment community. Whether it’s a four-unit apartment building or a 25,000-unit, nationwide portfolio, properly addressing resident concerns should play an integral role in any property manager’s strategic plan.
Unfortunately, while resident feedback is undoubtedly a valuable tool, the vast majority of it is negative because a satisfied resident is typically a quiet resident. The true challenge exists in communicating openly with these residents, addressing their issues and continuously searching for ways to improve the resident experience through information gathering.
Technology Yields Access
One of the most basic needs among all residents is access—access to up-to-date information, access to high-quality services and access to upper-level management.
Modern technology has emerged as the pre-eminent means of increasing that access. One method that is growing in influence is the resident portal, an online software platform designed to give residents access to property-wide information. In addition to services such as online rent pay and automated work order submission, residents also can access calendars of upcoming events and social activities within the community and e-mail property managers.
This medium keeps residents informed 24 hours a day from any location and gives them the opportunity to communicate proactively with management without calling or visiting the office. This software platform, which can be purchased from a service provider or developed in-house, is rapidly being implemented by a significant number of property managers and is already a mainstay among the larger REITs. Smaller firms are expected to follow suit in the near future.
In addition to having access to onsite personnel, residents also appreciate having direct access to upper-level management. One of the easiest ways to grant them this access is to provide e-mail addresses for corporate officers via the company Web site, allowing residents to correspond directly with the CEO, CFO, COO and senior vice presidents, which in turn enables upper management to remain aware of issues that residents face.
Surveys: Taking Pre-emptive Action
While it is of the utmost importance to remain in constant dialogue with residents about their various concerns, many concerns can be eliminated preemptively by conducting an annual resident survey. Surveys should cover a broad array of areas, including:
• Courtesy and responsiveness of the office staff;
• Efficiency of the maintenance staff;
• Cleanliness;
• Amenities;
• Social programs; and
• Management’s ability to communicate effectively with residents.
This enables the property manager to dissect each response and evaluate how it can be integrated in to the community's strategic plan, which provides managers with an opportunity to address many emerging issues of which they may not have been aware previously.
For example, as a result of one community’s resident phone survey, managers discovered that residents were concerned that the trash was not picked up often enough. Managers were able to mitigate this concern by simply increasing the number of pickups during certain peak times of the year. This small change immediately addressed the issue. Had they not administered the survey, they may not have known that this was a concern.
Addressing Rent Increases
The notification of rent increases represents one of the most widespread concerns among apartment residents. The often erratic pace of the market creates rather sudden, drastic increases that can cause a high degree of discord among apartment renters who may believe they are being mistreated. In many cases, the first response is to voice their dissatisfaction to management.
These types of concerns are typically the most difficult to address, as it is usually not an option to simply lower the rent. As an alternative, an effective means of keeping residents satisfied in the midst of rising rents is education.
The primary message to convey to concerned residents is that the decision to increase rents is market-driven and is based on the natural fluctuations of the market.
One way to better solidify this message is through the implementation of resource materials from independent organizations that provide research, data and analysis specifically for the apartment market.
The data, combined with resources, such as newspaper and magazine articles and academic research from universities, will assist property managers in discussing with residents the reasoning behind the increases and the comparative prices for similar communities.
Statistical data can also demonstrate extended periods of flat rental rates in past years. For example, five years ago, rents remained virtually unchanged for nearly two years. Because one of the primary reasons behind the current rise in rents is a natural correction of the market, the use of connected research can enable managers to provide concerned residents with statistics that support the change in prices.
Keeping it Personal
While access to new technologies and up-to-date research materials has significantly bolstered property managers’ communication capabilities, the most effective means of resident communication remains one-on-one dialogue.
Despite the expansive size of the community and the potentially high number of resident concerns, taking the time to listen and respond to residents’ issues through interpersonal communication will foster goodwill among the resident population and increase residents’ confidence in their property management firm.
Steve Donohue is President and COO of Western National Property Management, a company that manages more than 25,000 apartment units throughout the Western United States. He can be reached at sdonohue@wng.com.
Effective Communication: 4 Quick Tips
1. Use a Resident Portal. This online software platform allows residents to pay rent online, submit work orders, access event calendars and e-mail property managers 24/7.
2. Ask the Residents. Survey residents to identify areas of concern.
3. Provide Hard Facts. When raising rents, solidify a community’s value with relevant economic data from recent newspaper and magazine articles and academic research.
4. Be Personal. The most effective means of resident communication remains one-on-one dialogue.
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