Renters have more choices than ever before. With an increasing number of units becoming available, standing out as a property management company requires more than just offering a great location or attractive amenities. What truly sets properties apart in 2024 is effective communication.
According to the 2024 Renter Preferences Report, clear and consistent communication is one of the most critical factors for renter satisfaction. From lease inquiries to maintenance requests, renters expect timely and transparent communication with their property management teams. In fact, 89% of renters surveyed said that their experience interacting with property management staff played a significant role in their decision-making when considering a new rental.
This underscores an important truth: if your communication strategies aren’t up to par, you’re likely losing out on renter retention and renewals.
Why Communication Matters More Than Ever
With over 500,000 new multifamily units hitting the market in 2023 and projections showing this trend will continue through 2025, property managers must go the extra mile to engage and retain residents. Renters now prioritize responsive communication as much as they do location, amenities, and unit quality. The report found that unsatisfied renters are nearly 5.5 times less likely to recommend their multifamily property management company to others, with poor communication being a primary reason for dissatisfaction.
In an age where residents are accustomed to on-demand service in almost every aspect of their lives, delayed responses or unclear messaging can be deal-breakers. Whether it's waiting too long for a reply to an inquiry or not knowing when their maintenance request will be resolved, frustrations can add up quickly, leading to higher turnover.
The Solution: Livly’s Centralized Management Platform
So how can property management companies meet these communication expectations? Enter Livly’s Centralized Management Platform—a game-changer in simplifying and streamlining communication between property managers and residents.
Livly’s platform enables property managers to:
Communicate effortlessly with residents, whether it’s via app notifications, email, or SMS.
Send real-time updates on maintenance requests, community events, or any issues affecting the property.
Create a centralized hub for all resident interactions, ensuring that no communication slips through the cracks.
With Livly, residents can expect timely responses, transparent updates, and a seamless flow of information that boosts their overall experience. This improves satisfaction and increases the likelihood of renewals and positive reviews, which are crucial in attracting future tenants.
Real-Time Updates: A Game Changer in Multifamily Property Management
One of the key benefits of Livly’s platform is the ability to provide real-time updates. Whether a resident has submitted a maintenance request or is curious about an upcoming property event, they’ll be informed instantly. This is particularly important because the report found that 64% of renters who are satisfied with communication are much more likely to renew their lease compared to those who are unsatisfied.
Additionally, Livly’s resident portal allows residents to access important information, submit service requests, and receive updates all in one place. By providing this level of transparency and accessibility, property managers reduce frustration and eliminate the need for residents to chase after information.
The Competitive Edge of Seamless Communication
In an oversaturated market, property management companies need every advantage they can get. Livly’s centralized platform provides the tools necessary to transform communication, ensuring residents stay informed and happy throughout their time at your property. From move-in to move-out, providing seamless and effective communication boosts satisfaction, reduces turnover, and fosters positive reviews that help your property stand out.
As the report makes clear, better communication leads to better outcomes. By using Livly’s platform, property managers can meet the evolving needs of modern renters and build lasting relationships that drive retention and enhance the overall resident experience.
Ready to transform your communication strategy?
Discover how Livly’s centralized platform can help you stand out in the competitive rental market. Schedule a demo today to see how our tools can boost resident satisfaction and retention.
Source
AppFolio. 2024 Renter Preferences Report: Resident-Facing Technology Emerges as a Competitive Advantage. AppFolio, 2024.
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