With rent growth slowing and more supply coming online, what can property management companies do to stay competitive and improve resident retention?

In this episode of The Top Floor podcast, Jay Baer, Business Growth Expert, Speaker, Tequila Influencer, and Founder of Convince & Convert, and James Erickson, Sr. Product Marketing Manager at AppFolio, explore how offering a great resident experience is quickly becoming a make-or-break factor for property management success.

We also analyze the findings from the 2023 AppFolio Property Manager Renter Preferences Report, and explore how property management companies can put these insights into action.

Key moments:

• Why understanding resident preferences is essential to success
• Why customer experience is the same as resident experience
• Why improving the resident experience doesn’t need to be costly
• What data reveals about customer satisfaction in general
• Why property managers play a role in resident attraction and retention
• The correlation between resident satisfaction and technology
• Generational divides with resident preferences
• Why speed and communication are so important
• How maintenance resolution time impacts satisfaction
• Why you can’t provide great customer experience without a great employee experience

Key links:

• 2023 AppFolio Property Manager Resident Preferences Report: https://www.appfolio.com/resources/library/resident-preferences/
• Making Resident Satisfaction Your Competitive Advantage: https://info.appfolio.com/APM-CD-ASSET-CustomerExperienceEbook_etb_content_download_form_lp.html
• Customer Experience: What It Means & Why It Matters More Than Ever: https://www.appfolio.com/blog/customer-experience/
• “The Time to Win” by Jay Baer https://www.thetimetowin.com/the-time-to-win