Well, here we are, folks. Another year in the books. While 2020 threw us all a little off-kilter, 2021 gifted us a much-needed runway to regain our footing. 

So as we stand before 2022, we find ourselves appropriately retrospective, casually evaluating core drivers behind things like renter retention, successful property management, and figuring out what exactly makes renters renew their lease. In doing so, we stumbled on three particularly curious renter myths that, if perpetuated, will undeniably hurt your renter retention come 2022. 

Guide: How to improve your renter retention

Myth #1 — Renters don’t care about personalized experiences.

Everyone is different. Including your renters. So, sure, some renters would rather you forgo the niceties and stick to business while others don’t mind friendly and engaged property teams.

But the data doesn’t lie — 90% of people have reported that personalization is somewhat or very appealing. There are small gestures you and your team can make to personalize the renting experience. Sending a congratulatory card to new renters or “happy rent-a-versary” to renters who renew their lease are just two examples of what this could look like. 

Download templated greeting cards for renters 

Myth #2 — Renters only want techy amenities — the newer, the better.

What’s necessary tech to renters is different than what you might assume. At the end of the day, your renters don’t really care about the newest tech you have to offer as much as they care about amenities and tech that impact their day-to-day lives. For instance, WiFi, on-site laundry, as well as heat and air conditioning, continue their reign as the most desirable amenities for renters.

So while it might be tempting to outfit every unit with smart everything, you might be better suited investing your dollars in a proptech CRM, or a practical renovation. Think multi-use functionality at your properties — not just single-use amenities.

Myth #3 — Renters want as little interaction with property management teams as humanly possible.

As we mentioned above, yes, every renter is unique and therefore will have varying preferences, including communication. Some will prefer minimal to zero interaction and communication, save correspondence about property or policy changes, whereas others won’t mind chitchatting or will appreciate smaller acknowledgments.

Ultimately, you shouldn’t avoid communication or interaction with renters. Periodic check-ins, like renter feedback surveys, or email updates are perfectly reasonable. Not to mention, surveys can offer a great wealth of information regarding what will ultimately keep renters renewing their leases and stop them from ditching you for the competition. 

Download the bundle and get inspired by templated surveys 

Remember: If you’re making an in-person visit, make sure you give your renter a sufficient heads up and double-check that it’s a good time. 

Renter retention resolutions for 2022

We’d like to say thank you to the years 2020 and 2021 for these difficult, albeit informative, learning experiences. However, we would prefer to avoid a repeat. 

In the spirit of such, we propose making three New Year resolutions relative to your renter retention strategy:

  • Send a timely or relevant note to a third of your renters. See how they respond!

  • Audit your current amenities. See what renters actually use versus what they could care less about.

  • Get renter feedback. Circulate a survey asking renters about their most desirable amenities.

To learn more about how to scale renter retention at your property, and provide more personalized renter experiences, download our renter retention content kit.

Headshot of Monique Seitz-Davis
Monique Seitz-Davis

Monique Seitz-Davis, also known as Moe, is a senior writer at Rhino. Moe thinks glitter gets a bad rap and that security deposits are a trap. Or something. She is doing her best.