In today’s property management landscape, a striking disconnect exists between what property managers think residents want and what residents actually prioritize. Zego’s 2024 Resident Experience Management Report highlights these gaps, shedding light on how property managers can better align their efforts to enhance resident satisfaction and retention.
The findings reveal a crucial insight: While 60 percent of property managers believe a tech-enabled lifestyle is a top priority for renters, residents place a greater value on essentials like maintenance, security and community cleanliness. This discrepancy presents an opportunity for property managers to reassess their strategies and focus on the aspects of property management that renters truly care about.
It’s understandable why property managers assume technology plays the most critical role in resident satisfaction. These tools have become prominent in modern living with the increasing integration of smart home features, virtual assistants and high-end amenities. However, while these innovations do enhance the resident experience, research suggests they aren’t at the top of renters’ priority lists.
So, what do renters prioritize? The Zego report highlights three core areas that renters consistently value.
Maintenance: Reliable and prompt maintenance services are the foundation of a positive rental experience. Renters expect issues to be resolved quickly and efficiently, and failure in this area can lead to significant frustration and, ultimately, turnover. To succeed, property managers must ensure that maintenance requests are handled with urgency and professionalism.
Security: Feeling safe at home is non-negotiable for renters. Security concerns can range from well-lit common areas to effective security systems and prompt incident response. Renters who feel unsafe are unlikely to stay, regardless of how technologically advanced the property may be. Property managers should invest in physical security measures and enforce community policies that promote a safe living environment.
Community cleanliness: A community’s physical appearance greatly influences how residents feel about their environment. Clean, well-maintained common areas, landscaping, and garbage management are essential. Neglecting these aspects sends a message that management does not value the property or its residents, which can quickly lead to dissatisfaction.
Now, while technology is not at the very top of renters’ priorities, it still plays a significant role in the overall living experience. Digital self-service tools, such as mobile apps for rent payments or maintenance requests, are increasingly in demand. However, Zego’s report found that 58 percent of renters say their community does not offer a mobile app, highlighting a missed opportunity for better communication and implementation.
When thoughtfully incorporated, digital tools can streamline day-to-day tasks, but they should complement, not replace, personal interactions. Renters value human engagement, mainly when dealing with complex or high-stakes issues.
Property management can, then, employ several strategies to bridge the gap between property managers’ assumptions and renters’ priorities:
Conducting effective surveys: Regular surveys throughout the resident life cycle can provide valuable insights into residents’ evolving needs and preferences. Property managers can make informed decisions that resonate with their community by collecting actionable data.
Fostering face-to-face interaction: Despite the rise of digital communication, in-person interactions remain a critical aspect of building trust and rapport. Whether through resident events or casual conversations, direct engagement can provide insights that data alone might miss.
Creating resident advisory groups: Establishing a resident advisory group can facilitate structured feedback from a cross section of the community. These groups provide valuable insight into residents’ concerns and preferences while fostering a sense of involvement.
Implementing renter reward programs: Reward programs that offer tangible benefits, such as discounts or partnerships with local businesses, can be a powerful tool to enhance resident satisfaction and loyalty. These programs also provide data on resident preferences, allowing property managers to tailor their services and offerings more effectively.
Bridging the gap between perception and reality: Understanding and addressing what renters truly prioritize — maintenance, security, and cleanliness — can help property managers exceed their expectations. Technology and digital tools remain valuable in enhancing the resident experience, but they should support, rather than overshadow, these core aspects of property management.
By aligning their strategies with the basics that matter most to renters and integrating digital tools, property managers can create an environment that creates renter satisfaction and long-term loyalty.
Aaron Gries is senior director of product management and operations at property management software firm Zego.