Updater

By Jenna Weinerman

Published Sep 4, 2024

Updated Sep 4, 2024

Moving into a new apartment is a significant transition filled with excitement and stress.

For residents, it’s about establishing a home (and a sense of home – those are different).

For property managers, it’s about building a positive relationship.

But it’s not all fun and games – the move-in process critically influences a resident’s first impression, affecting their decision to stay or leave at the end of the lease.

A recent article from Multi-Housing News, titled “6 ways to lower resident turnover time, costs,” outlines strategies to minimize turnover costs and enhance retention. There are great strategies in this article (give it a read!), but we believe that reducing turnover begins at move-in… on day one.

A positive initial interaction leads to fewer turnovers and a stronger community. Here are a few tidbits to keep in mind when it comes to unit turnover and moving:

The importance of first impressions

Did you know that the renewal rate for residents who are satisfied at move-in is 59% higher than the renewal rate for residents who were dissatisfied at move-in?

Retaining residents is the most effective way to avoid turnover-related costs, and this journey begins at move-in.

A smooth process establishes a foundation for a lasting relationship. Updater provides property managers with digital tools that streamline every aspect of moving in, transforming a traditionally stressful experience into a manageable one. When residents feel supported, they develop a sense of belonging and comfort—key factors for lease renewals.

Bozzuto understands this. In our latest report, The Move-In Effect, Jenna Miller, Bozzuto’s Senior Director of Marketing & Customer Experience said, “We know that the move-in is a make or break moment in the journey and there are real repercussions for someone who has a poor move-in experience. It has an impact on their possibility of renewing and it’s hard to recover from that.” The move-in effect is tangible.

Proactive engagement from day one

Multi-Housing News emphasizes the importance of proactive strategies in managing turnover costs, recommending that property managers begin the lease renewal process well in advance. At Updater, we believe this approach should start as soon as residents arrive. A seamless move-in experience helps build an emotional connection with new residents, setting the tone for a positive relationship.

Here are a few additional move-in tips:

1. Welcome kits: Provide new residents with welcome kits that include essential information about the property, local amenities, and community guidelines. This thoughtful gesture makes them feel valued and informed. Focusing specifically on security, can help residents establish a sense of safety right from the get-go.
2. Regular check-ins: Schedule regular check-ins during the first month after move-in. This shows residents that you care about their experience and are available to address any concerns.
3. Build a community: Organize social events or gatherings to help residents connect with their neighbors. Fostering a sense of community boosts satisfaction and encourages lease renewals, reducing turnover. A welcoming environment begins with a positive move-in experience. When new residents feel at home, they are more likely to establish roots. Provide local area guides, introduce amenities, and host meet & greets to help them feel connected.
4. Feedback surveys: Create a short feedback survey for new residents to gather insights on their move-in experience. The best time to ask for a review is right after the resident moves in and when everything is still fresh. Use the information gathered to make improvements and show that you value their opinions.
5. Personalized communication: Tailor your communication to each resident based on their preferences or needs. Personalized messages can create a stronger connection and demonstrate that you truly care.
6. Maintenance response: Ensure a quick and efficient response to maintenance requests, especially during the initial move-in period. Promptly addressing issues fosters trust and satisfaction.

Creating a strong foundation for retention

While Updater focuses on the move-in experience, we understand its impact on overall resident retention. Ensuring efficient move-ins creates lasting first impressions. Residents who feel at home from day one are more likely to stay, renew leases, and refer others. Reducing turnover is about cultivating an environment where people genuinely feel they belong, and it all starts with an exceptional move-in experience.

Jenna Weinerman

Jenna is Updater’s VP of Marketing and a published ReloTech expert. She’s an endless seeker of knowledge, a lover of craft brews, and a huge Philadelphia sports fan. Follow her on X here.