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By Boden Lazio

Introduction

In the past we’ve talked about topics such as maintaining curb appeal, resident satisfaction and how to go the extra mile for your community to make it stand out from the rest. But all these initiatives are a part of the same goal—increasing your community’s value. As a community manager, your job is to create quality living standards for your residents, keeping their satisfaction and your property value high. Let’s get in to how you can do this at your community.

What Makes the Difference?

It’s pretty straightforward. A manager who keeps residents happy and their community well maintained will bring in revenue. While this is the ultimate financial goal, we encourage communities to meet that goal and more, going beyond a transactional approach to community management. So, what does that look like? Here are some ways you can take your community the extra mile to make it stand out:

  • Integrate the Newest Technology to Improve Efficiency & Convenience. You don’t have to go crazy with this one but technology is very useful for streamlining services.  Many communities are switching from real keys to electronic fobs to increase unit security or replacing old appliances with smart appliances and improved security systems. It’s also beneficial to look for vendors who are tech-enabled and use real-time reporting to make services at your community more efficient. Explore ways new tech can make living easier for your residents!
  • Provide Unique Amenities. Most communities have clubhouses and pool areas but focusing on little ways to make these communal areas better can go a long way. Add games and maybe update TV’s available for residents in recreation areas. Communal workspaces are a great option for residents who work from home. Create a fun atmosphere that residents want to hang out in.
  • Maintain High Cleanliness Standards. This is our specialty! Partner with vendors whose priority it is to ensure cleanliness and maintain curb appeal for your residents’ comfort. Strategic offers On-site Waste Control to tidy your trash areas, janitorial services for clubhouses, Large-item Pick-up and pressure washing for enclosures, trash chutes, pavers and more. Cleanliness and facility upkeep says a lot to your residents, and it’s one of the simpler and cheaper ways of boosting property’s value.
  • Host Events for Residents to Meet & Hang Out. Events like trivia nights, mixers and holiday parties encourage residents to create relationships and a sense of belonging within their community. While it may not seem like there is a direct link between community events and your property value, anything that increases the renter experience, increases the marketability of your community.
  • Explore the Best Ways to Advertise Your Community. You might have the best community around, but if no one knows about it, that doesn’t help you. Researching the best ways to advertise your community will help get your name on the map to bring in more interest for potential residents.
  • Create Packages or Benefits for Returning Residents. Resident retention is huge for communities. The more you retain residents, the more you can reduce turnover costs and keep units occupied. Reward returning residents with things like lowering rates for pets, or exclusive and early access to shared areas like movie or game rooms.

Conclusion

With so many properties and communities in Southern California, it really is the little details that go a long way in making your community rise above the rest. Good managers recognize the balance between thriving business and building trust with residents. Investing in your communities ensures good return for you.

At Strategic, we want to help managers increase their community value with our services. To learn more about how we can partner with you to increase your community’s value, contact us today.

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