Rent is the biggest debit out of most bank accounts each month.
Is the experience that you’re creating in exchange for that rent worth it?
Is it compelling?
Do people feel compelled to tell their friends and family about the experiences that you creating in exchange for the rent payment?
Do you CARE?
Your desiring to make the experience worth the rent Multifamily Maniac,
M
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Hey Mike,
All this Create an Experience stuff is great fodder, but how many PM companies also have an Entertainment line item. Perhaps they elude to that in their marketing material, but few can execute, and my friend, there is a significant cost to add entertainment to your operation. And this is way more than just putting on a smile and doing your job better.
When you make these type of statements, what are you refering to, any examples? Not being negative here, and I agree with you, but in realality do the things “we” think Enhance the Resident Experience” align with theirs? Or, are they looked at as one more silly thing management is doing that has little to no impact.
Good thoughts, Mike. And good feedback, Eric. I think a good start is always asking your residents what would be valuable to them. When people feel included in the conversation about improving the property, that helps. It’s not always possible. For example, you wouldn’t want to ask residents if they’d love a dog park if it wasn’t in the owner’s budget or interest to add it. But, anyways. Good things to think about here.
C,
Thank you for stopping by – hope the week rocked for you. Thank you for the kind words. I 100% agree – including people in the program is a good first start. We may not be able to satisfy every want/need but we can sure make a few people feel amazing.
Hope you have a great weekend – hope to see you back here at some point!
M
E – #gameon. I really appreciate your feedback and don’t disagree with the points made. I am crafting a follow up post to this one to address specific ways we employee our fan base to make specific changes to our programming. Should be a fun post – look for it next week sometime.
Hope the year is off to a rockin’ start –
M
I think we create experiences by little things we do not big ticket events. Hand written letters or thank you’s, holding the door for people with packages, it’s getting back to the basic need for people to feel like people and not a hand holding a rent check. When is the last time you saw a resident struggling with groceries and actually went to help. The most kudos I ever received was from a client whose car broke down and my team member and I stayed with her after hours until the tow truck came. They came back and leased with us because they knew that we care.
Adjust every interaction just a little bit and you’ll be surprised at the reaction. Sad but true people no longer expect a kind gesture and always seem to leave an impression.