Landlords, Build a Sense of Community for Tenant Retention

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If you’re a landlord, you’re currently in a pretty good position. Many people are now choosing to rent rather than own, and according to the Pew Research Center, more U.S. households are headed by renters than at any point since at least 1965. Unfortunately, this does come with its own set of challenges for landlords, particularly retaining tenants when there is so much rental availability out there.

Landlords can retain tenants by improving customer service, particularly through technology, fast communication, and building a sense of community for renters.

Another way to effectively enhance the tenant experience is to build a sense of community by promoting community events. Trivia nights and pizza or ice cream socials, for example, can give residents a chance to get to know their neighbors. Landlords can also use these organized events as opportunities to inform tenants about new services and building updates. Bringing community to the center of the tenant experience can make an apartment building a place where people feel at home.
— Bisnow

There are many ways to build a sense of community for tenants, one of which is by focusing on health and wellness. A report by the Nielsen Global Health and Wellness Survey recently reported that more younger consumers than ever before are concerned about healthy eating, and that the most health-centric group of consumers in general is Generation Z – the group that is next in line as prospective tenants. With this in mind, landlords should consider offering health-conscious community events, such as on-site yoga and holistic wellness courses. Chasing Nirvana Yoga offers these types of classes for landlord-owned properties, office buildings, and everything in between.

Read this great article from Bisnow on four customer service tips landlords swear by, including building a sense of community. For more information on setting up an on-site yoga or wellness class on your property, visit www.chasingnirvanayoga.com.