June 6, 2018
By Dennis Kaiser
Connect Apartments is coming up June 26th in Los Angeles. Leading into the conference, we asked one of the scheduled panelists, Pinnacle’s Jennifer Staciokas, to share a few insights into way’s managers are staying ahead of the pack in attracting and retaining renters. Check out her responses in our latest 3 CRE Q&A.
Q: What are the main considerations renters have at the top of their lists when deciding where to live these days?
A: Renters are still focused on location and price primarily, but the resident experience is becoming ever more important. Renters are looking at amenities as not only the physical assets, but also the events and services your building will afford them if they choose to move in.
Q: What role does technology or design play in renters’ decision-making process?
A: Technology is allowing renters to make their decision of where to live quicker and without actually visiting the apartment community, if they so chose, by viewing 360-degree virtual tours and reading online reviews from verified residents to get an idea of what the experience would be like. We’re also able to keep renters in our buildings longer by offering technology to make it convenient and easy to live in our buildings through customized apps that offer services such as pet care, cleaning and fitness classes. These unique services offered at a discount make it harder for the renter to move at the end of their lease.
Q: How are landlords adapting to meet the renter preferences?
A: Property management companies are continuing to explore products and services that make it more convenient for renters, by differentiating their property or company through technology and event-based marketing. Creating a sense of community at each of our buildings is very important and something our residents are demanding. We are tailoring events to what our residents want, to allow them to foster long-standing relationships with their neighbors.
For comments, questions or concerns, please contact Dennis Kaiser