The resident landscape has drastically changed in the last few years. Here’s what you need to know.
Renters are expected to be on the move, much more than they were before. Only 25% of residents surveyed are planning to stay in their community when their current lease expires, which is only half as many that planned to stay prior to the pandemic.
Why is that so low?
Well, half of the residents surveyed wanted to move since the pandemic began but weren’t able to. As one resident stated, “I feel a lot safer now going out in public and looking at apartments and meeting with the staff.” The world is returning back to normal, and retention rates won’t be inflated by the limitations the pandemic put on renters.
It’s more important than ever to get ahead of the curve and move away from the status quo. The floodgates are opening, and on-site teams’ will be busier than ever in dealing with the increased traffic.
Implementing an on-site wellness program will ensure that the on-site staff has the time and resources to deal with the increased traffic, all while providing the residents with a lifestyle that will keep them attached to their community.
Contact us to learn more about how we can help you prepare for the new resident landscape.