Many community management teams offer new resident incentives, but what about rewarding those retained residents who make your community what it is? Renewal incentives are an impactful way to show long-term residents how much you care and value their place within your community, and it can be a valuable way to show prospective residents just how much you recognize the people who make your organic community feel what it is.

A few ideas for renewal incentives you can offer your renewing residents are:

  • Appliance upgrades -- Appliance upgrades are an incentive that residents will enjoy every single day they're living within your residence. A new dishwasher, oven, microwave, washer or dryer -- it's these things they'll reach for to make their own everyday lives easier. With each renewal, community managers can ask their residents which appliance they'd like upgraded.
  • Professional residence cleaning -- There is just something comforting about a deep clean, and it's even better when residents don't have to do it themselves! One impactful incentive idea is to offer a professional deep clean with each renewal. The cleaning may include carpets, walls, appliances, grout, and all those other hard to reach spaces, leaving residents with a clean slate to go along with their brand-new renewal.
  • A free month -- A free-rent month can save residents quite a bit on their bottom line, and this is an incentive that's frequently offered to entice new prospects. If it works for new residents, it'll surely be valued by current residents as well.
  • Easing your pet policy -- If a resident has proven through time that they are respectful of the property, responsible, and tidy, you may even consider easing your pet policy with a new renewal. For instance, if you typically don't allow small dogs and cats within your community, they offer may be given to those residents who prove through time that the residence will be respected and left in good condition with the addition of a new furry family member.

While many community management teams brainstorm incentives for new residents, it's important to remember that it's the current residents who really make your community what it is. Keeping these longer-term residents around is what keeps your organic community feeling going. To learn more about incentivizing renewals as well as new resident leases, contact us at OccupancySolutions.com today.