How to Create a Renewal Concierge Service to Boost Resident Retention

By personalizing the renewal process and offering thoughtful perks, you can boost retention and keep your community thriving. From assigning a dedicated Renewal Concierge to hosting exclusive renewal events, these strategies will help create a stress-free and rewarding experience for your residents.

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).

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.

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!

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. Follow Up Strategically
   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.