The #1 Strategy for Scaling Lease Renewals

By the Marketing Team, Summerfield Management

Survey after survey, the results are the same.

The #1 reason tenants renew?

Value of rent. Yawn.

It’s easy to hyper-focus on reason #1 and miss the incredible opportunity presented by #2.

The #2 reason tenants renew their lease is a sense of community.

Ah-ha!

Do you see the opportunity for scaling your efforts to increasing your renewals?

You do?

Then pat yourself on the back and we’ll see you here next week for another article where we’ll try harder to impress you.

If you’re not yet clear on what the opportunity is, allow us to explain.

Scaling your lease renewals strategy is a wide-scale effort to remind tenants why they love living at your community. 

There’s an easy way to do this.

Have you guessed it yet?

It’s your social media channels.

Reminding tenants why they love your community via social media is the #1 strategy for scaling lease renewals. Because if they remember that they are more likely to renew.

We could go deep on this, but let’s skip to getting you some results through actionable steps instead. 

Deal?

Below are some tips for ways you can begin to emphasize community in your social media posts.

  • Highlight popular amenities
  • Show off your community engagement activities
  • Use polls with engaging questions to create conversation
  • Spotlight pets in your community

Remember, renewing leases with good tenants who pay market rent is an easy way to increase NOI, but property management is still hard work.

Is your current management company working this hard for you?

If not, call us.

We’re not the biggest company in the management biz, but we’re up to speed on what it takes to succeed in current market conditions and we’ll do everything we can to get the most out of your investment.