How to Create a Renewal Concierge Service to Boost Resident Retention
A Renewal Concierge Service can transform the lease renewal process from a transactional experience to a high-touch, personalized interaction that residents value. Here's how to build one:
1. Dedicate a Point of Contact
Assign a specific team member to act as the Renewal Concierge. This person will handle all renewal-related communications and serve as a single point of contact, making the process seamless and less overwhelming for residents.
2. Personalize the Outreach
Review residents' profiles and tailor communication based on their preferences and history (e.g., maintenance requests, event attendance, or feedback).
Include personalized notes like, "We hope you’re still enjoying the garden view you requested!"
3. Offer Renewal Perks
Provide small incentives to sweeten the deal:
A complimentary carpet cleaning or touch-up paint job.
A "thank you" gift, such as a $25 gift card to a favorite local business or an upgraded appliance (e.g., a smart thermostat).
Select a Concierge-Style Renewal Design
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4. Create a Renewal Proposal Packet
Include:
A personalized letter outlining the benefits of renewing (e.g., saving on moving costs, maintaining community ties).
A breakdown of any renewal specials or discounts.
Testimonials from other long-term residents about why they stay.
5. Host Exclusive Renewal Events
Organize a casual "Renewal Night" where residents can stop by, chat about their lease, and enjoy refreshments or small giveaways. This also gives them a chance to express any concerns in person.
We LOVE Sprouter Hidden Hollow’s pie-themed renewal party!
6. Proactively Address Issues
Before contacting a resident about renewal, check their service history to resolve any lingering issues. Happy residents are more likely to renew!
Survey designs
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7. Make the Process Easy
Offer digital renewal options via email or a resident portal.
Provide clear instructions on completing the renewal and make yourself available for any questions.
8. Proactively Address Issues
Create a timeline for touchpoints:
60 days out: Send a friendly reminder about their lease expiring.
45 days out: Share renewal incentives and benefits.
30 days out: Follow up with a personalized message.
9. Measure Success
Track metrics like renewal rates, resident satisfaction, and feedback to continually improve your Renewal Concierge Service.