National vacancy rates are currently at around 7%, putting property managers under pressure to stand out, retain residents, and operate more efficiently. The first 30 days of a lease are crucial in meeting these demands. A smooth move-in process builds trust, reduces friction, and sets the stage for a positive resident relationship. On the other hand, a botched move-in can lead to increased costs and dissatisfaction.
Satisfied residents are more likely to renew their lease and recommend their property manager. Despite this, move-in processes are often disjointed and challenging for 75% of residents, from setting up utilities to handling deposits.
These initial hurdles send a message to residents about the property manager’s operations. For property managers, they result in higher support volume, strained teams, turnover, and lost referrals.
The key lies in approaching move-in strategically rather than as a mere checklist item. Technology plays a crucial role in transforming the first 30 days into a performance advantage in three main ways:
1. Closing the technology expectation gap
Renters expect digital move-in tools, yet only a fraction have access to them. Implementing these tools not only enhances resident satisfaction but also signals operational maturity. Streamlined digital processes lead to standardized operations, reduced errors, and increased resident engagement with online platforms.
2. Personalizing move-in and onboarding
Personalization is vital during move-in, as it helps alleviate stress and uncertainty for residents. Coordinating essential services beforehand and offering Resident Benefits Packages can significantly reduce move-in friction. Tailoring communication and resources further demonstrates the property manager’s understanding and investment in the resident experience.
3. Building financial wellness into the move-in journey
Introducing financial services during move-in, such as rewards programs, deposit alternatives, and rent reporting, addresses resident needs and enhances property manager economics. These services not only differentiate the property but also create new revenue streams, reduce financial barriers for residents, and improve long-term retention.
Making move-in a performance advantage
Move-in friction goes beyond resident frustration, impacting efficiency, turnover, and referrals. Property managers must shift towards performance-based thinking to align with resident expectations and drive retention, efficiency, and growth. By prioritizing a smooth move-in process, property managers set the stage for stronger relationships, streamlined operations, and sustained performance.
Adam Feinstein is the VP of Product for AppFolio.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: [email protected].
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