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10 Reasons You Should Regularly Host Resident Events

Every holiday, change of season, or cultural event seems to bring a new suggestion for hosting some variation of a resident party.

 

Resident events might seem unnecessary, or a time-sink to create an elaborate enough event that will cater well towards your tenants, but hosting a great resident event is not difficult, and is something you should consider a necessity for your multifamily property.

 

  1. They facilitate growing relationships between neighbors: This can ideally result in fewer complaints and squabbles between residents.

 

  1. They create a relaxed atmosphere where tenants can meet your management team: This can result in tenants more willingly reaching out with reportable issues--like a minor leak--before damage occurs.

 

  1. They encourage community among your residents: Event activities can focus on enjoyable team-building games or projects that strengthen the communal bond among residents.

 

  1. They add perceived value to your residencies: Resident parents who know they can simply meet in the residential lounge for a family-friendly holiday activity each year, or adult tenants who don’t have to travel to enjoy a relaxing evening of wine tasting will take those pleasant experiences into consideration when it’s time to renew their lease.

 

  1. They generate referrals: Word-of-mouth is invaluable marketing, and happy residents who enjoy all the creative activities at their residence will be ready to recommend your properties to their friends and acquaintances.

 

  1. They encourage tenants to explore the property’s amenities: Hosting an event in your multifamily property’s lounge or recreational room can entice tenants who have never fully taken a look at what your property offers.

 

  1. They create newsworthy stories: Resident events are not simply synonymous with a party; events like charity drives near the holidays or a resident tree planting event on Earth Day can be featured in local news and generate mentions for your properties.

 

  1. They create opportunities to partner with local businesses: Resident events require food and activities, partner with a local business to provide food at a discount in exchange for their menu to be featured in your new tenant welcome kit or ask local business owners to donate items for charity events. These meetings serve to strengthen your relationship with local business owners, which is always beneficial.

 

  1. They ensure you are competitive: When it comes to business, ensuring you know what “everybody else is doing” is key to keeping a competitive advantage. While you don’t need to have the most elaborate resident events in town, it’s important to create fun avenues for fostering community--particularly if other properties offer this to their potential tenants.

 

  1. They remind your tenants that you care about their experience: When issues arise, as they inevitably will, great customer service and a past history of providing a great rental experience will go a long way to managing any tenant complaints. Resident events act as one important puzzle piece in creating a rental experience your tenants will crave.

 

Are you sold yet? Do you already host events, and what do you find the most successful? Let us know your best ideas in the comments!

 

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