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Happy Thanksgiving


Subject: Happy Thanksgiving from Kendrick Property Management


Happy Thanksgiving from
Team Kendrick
Dear James L,
All the members of the Team Kendrick Network would like to wish you and your families a save and joyful Thanksgiving.
Sincerely,

James L Kendrick Kendrick Property Management

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Kendrick Property Management | 50 Kentwood Dr. | Rochester | NY | 14626

The Top 5 Factors Resulting in Resident Loyalty

The Top 5 Factors Resulting in Resident Loyalty

Posted by on September 29, 2013 Leave a comment (0)Go to comments

by  – PropertyManagementInsider.com

When it comes to maintaining and increasing resident retention, we seem to put a lot of focus on why our residents are not loyal to us, but what we should really be asking ourselves is “What am I doing right?” When you identify who your loyal residents are, you’ll usually find there are five common factors that correlate with their loyalty. We’ve listed them below for your convenience:

1. You Ask for AND Listen to Resident Feedback

You know that traditional satisfactions surveys don’t cut it – that you need to ask the hard questions and really listen to residents’ needs, wants, and concerns. You know that survey programs modeled after proven Net Promoter Score (NPS) methodology, give you the greatest insight into resident loyalty by answering the question “What is the likelihood you would recommend us?” Willingness to recommend is one of the strongest signs of customer loyalty(“The One Number You Need to Grow”, Harvard Business Review). Residents who are loyal will not only give you referrals, but they will stay longer and are willing to pay more.

After you take time to listen to their desires and honest feedback, you work to provide your residents with what they need or want in a home. You show them that you care about them, and caring builds trust. When you implement changes and improvements based on resident feedback, you cultivate resident loyalty, and practically, increased resident retention.

How can you get more feedback to generate resident loyalty?

    1. Ask your residents how they are doing at every opportunity, through:

 

      1. Loyalty-based resident surveys
      2. Personal conversations
      3. Social media channels

 

  1. Monitor apartment rating and review sites
  2. Review resident letters/complaints
  3. Keep current on the grapevine at your community

2. You are Fast to Resolve any Maintenance or Apartment Community Issues

When a problem does arise, you are prompt in providing the best solution. You know that resolving concerns as quickly as possible is part of the success equation. Quick action prevents small issues from becoming bigger. Using an ongoing program of loyalty-based resident surveys ensures that you have a constant flow of information and can stay apprised of any concerns so they can be addressed right away.

Because you realize your residents will share their experiences with anyone who will listen, you know that a speedy solution to problems is a winning proposition and will help generate resident loyalty (and increase lead conversion).

3. You Make Living at your Apartment Community Easy

Your staff and services are convenient for residents and you consider it part of your job to make their life easier and more enjoyable. You’ve designed your procedures and processes to deliver the kind of lifestyle that feels good to come home to. Residents know your team is there for them and will help them in any way they can. Keeping life simple is one of the best ways to generate resident loyalty.

4. You Know your Residents Have A Choice—and You Let them Know It

Unless your community is located in a remote area of Antarctica, you are not the only place your residents could choose to live. You express your sincere thanks to residents for choosing your community as their home. You offer valuable products and services that generate resident loyalty. A greater value keeps them coming back for more and will get you plenty of referrals. A mere 5% increase in resident loyalty can improve overall profitability by 25% – 100% (The Loyalty Effect, Reichheld).

5. You Create “WOW” Moments in your Community

Having satisfied customers is not enough – satisfied residents defect. Loyal residents stay and refer friends and family to your apartment community. You strive every day to create “WOW” moments by delivering a consistently positive and memorable customer experience. You know your resident’s emotional connection and reaction to their living experience is what drives their action and will ultimately generate resident loyalty.

Your focus on “WOW” experiences helps build a relationship between you and your residents based on trust. They come to expect you will adhere to good corporate citizenship, offer transparency, and hold yourself to a standard of accountability. Seventy eight percent of purchase decisions are made based on peer-to-peer recommendations, and because you consistently provide a “WOW” experience, your residents are enthusiastic enough they will stake their own reputation with a friend or colleague to refer them to you (“How Philips Uses Net Promoter Scores to Understand Customers”, Harvard Business Review).

Loyal residents are your most profitable residents. They are happier, lease longer, and will be your brand champions. Because of your personal experiences, you know who you would be willing to recommend to others and why.

What things do you do that generate resident loyalty?

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WELCOME.
TO YOUR PROPERTY MANAGEMENT SOLUTION.

Don’t Trust Us!  Well not yet, anyway…
Unlike other Property Management Companies, we earn your trust first, then get paid.

Enjoy NO MANAGEMENT FEES for the first month while we prove ourselves.
NO LONG TERM CONTRACT.
If we’re not performing up to your standards we’re gone…
We believe your property should be an income producing asset for YOU not just your management company.
We’ve combined our knowledge of construction and investment properties with a comprehensive software system to offer our clients a full service solution for your investments.
But there’s no need to take our word for it.
Take YOUR word for it.
The same trust and integrity you’ve grown accustom to from Team Kendrick, now managing your investment from A to Z.
OUR LATEST REHAB
Yields 45% Rent Increase, Better Tenants.
Part of protecting your investment is getting good advice.  We will always have your best interest at heart whether placing tenants, completing a rehab, or preforming regular inspections.
Check out the latest Before and After Video…

Investment Property
HOW WE DO IT…

Click HERE for an overview of how we pull it all together for our investors.  We think you’ll agree, the benefits are clear.  Contact us TODAY to start your FREE month of exceptional management.

 

Contact Us Today for more information

or visit our website

Kendrickpropertymanagement.com

 

 
WHY ROCHESTER?
CNN Money ranks Rochester, NY #3 on their “Best Places to be a Landlord” list.

See it by the numbers HERE!  Criteria such as median home price, average rent and monthly up-keep make Rochester, NY a solid investment year after year.

 

If you are an investor looking to build your Real Estate portfolio, look no further than Rochester, NY and Kendrick Property Management.

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FREE
HOME ASSESSMENT
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Not only were the ideas perfect for this property and the referred businesses great, but the work was completed on time and within the estimate that Jim presented …” 

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  Rochester, NY 14626   585.880.4324 p
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Newsletter

WELCOME.
TO YOUR PROPERTY MANAGEMENT SOLUTION.

You asked. We listened.
After doing your property inspections, rehabs, and remodeling for the last 30 years, Team Kendrick is proud to announce the opening of our
We’ve combined our knowledge of construction and investment properties with a comprehensive software system to offer our clients a full service solution for your investments.
The same trust and integrity you’ve grown accustom to from Team Kendrick, now managing your investment from A to Z.
HOW WE DO IT

Here’s a brief overview of how we pull it all together for our investors.  We think you’ll agree, the benefits are clear.

 

Initial Inspection:  Let us inspect the property before you make the purchase. We’ll give you a report about the neighborhood, rents to expect, and the overall condition of the property. If it seems too good to be true, we’ll tell you!  We want your investment experience to be a positive one. Buying properties in bad areas that need major rehab is never a good experience…   Marketing:  Right from the start our web-based propertyware system is working for you.  Vacancies are filled fast and efficiently using over 100 rentals sites simultaneously. Through online applications, background checks, and YouTube videos of your units, the leasing process is expedited.   Increased Resident Retention:  If your tenants aren’t happy, they’re not going to stay…With our on-line tenant portals, they can communicate faster about maintenance concerns, pay their rent, and receive mass updates from the management team. Happy tenants are happy to pay their rent!   Faster maintenance:  Our in-house maintenance crew is notified electronically when a work order enters the system. They have the tenant’s information, along with a full description of the items to be completed. They can tackle the problem quickly since the owner was already notified and approved the work to be done.   Electronic Statements and Payments:  With a few key strokes, your statements are delivered for month-end reporting and payments are delivered directly to your bank account. And because the system keeps you informed when work orders need to be addressed throughout the month, there are no surprise fees.   Contact Us Today for more information or visit our website Kendrickpropertymanagement.com

 
LATEST REHAB
Yields 45% Rent Increase, Better Tenants.
From acquisition and inspection of your investment, to a cash flowing unit with a qualified tenant, we stand behind the term ‘management’.
You can count on Team Kendrick to assess a new purchase AND improve it’s rent potential.  Good locations and quality rehabs bring HIGH paying tenants.  Check out our latest rehab with a 45% rent increase and a happy new tenant…
45% Rent Increase After Rehab

ASK ABOUT OUR
FREE
HOME ASSESSMENT
 
585.880.4324

    “ Not only were the ideas perfect for this property and the referred businesses great, but the work was completed on time and within the estimate that Jim presented …”                                    see more
  50 Kentwood Dr.
  Rochester, NY 14626   585.880.4324 p
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