How does property maintenance impact resident retention? When a property is well maintained, it provides a sense of security for a property management company’s residents. This includes regular maintenance of the building and grounds, such as lawn care, snow removal, and inspections of the building’s systems. It also includes repairs and updates to the building, like replacing old appliances and windows, or adding new amenities. When a property is well maintained and work orders are completed quickly, it creates a pleasant living environment for residents, and can even add value to their experience. In turn, this can lead to higher satisfaction levels and more loyalty from residents, resulting in greater success for your property management company.
Residents prioritize the upkeep of their homes, often opting for renting to avoid the headaches of homeownership, notably maintenance responsibilities. A convoluted or frustrating maintenance request process can quickly sour their renting experience. Waiting days or weeks for repairs only adds to their dissatisfaction. Our data reveals that maintenance issues rank among the top reasons residents opt not to renew their leases. Thus, ensuring a streamlined maintenance process is crucial for the success of your property management company.
To learn more about typical maintenance services and the most common property maintenance issues, check out our ultimate guide to property maintenance.
Is there a connection between maintenance and online reviews?
Yes, there is a connection between maintenance and online reviews. Good maintenance practices can have a positive impact on the customer experience, which can lead to better online reviews and ratings. Poor maintenance, on the other hand, can lead to negative reviews and decreased customer satisfaction. According to etouchpoint.com, companies often see a ratio of three to four positive comments to every one negative review. Therefore, it is important for businesses to ensure that all maintenance practices are up to date, and that all customer needs are met in a timely manner.
In fact, according to our data, if a maintenance issue takes longer than 5.5 days to complete, you have less than a 1% chance of receiving a positive review. Even more striking, 78% of prospective residents said a property management company’s online reviews were the number one factor in choosing where to live. This means that resident reviews have a huge impact on not only resident satisfaction and retention, but your ability to attract more residents.
How Does The Maintenance Process Impact Resident Retention?
Retaining dependable residents is not only cost-effective but paramount for property management success. Positive relationships with current residents are key to this retention. The resident experience, largely shaped by maintenance responsiveness, heavily influences lease renewal decisions. Swift and attentive maintenance not only addresses physical issues but also communicates care and respect to residents. Conversely, unresolved maintenance issues breed discomfort and frustration, leading to dissatisfaction and potential turnover. Prioritizing efficient maintenance processes is essential for fostering resident satisfaction and long-term residency.
On the other hand, if maintenance issues are solved quickly, with little disruption to their life, and by someone they trust, residents will be more inclined to renew their lease.
Schedule a demo with one of our maintenance experts to learn how a designated property maintenance software can help improve your average resident ratings and increase resident retention.
