Why Resident Friendships Are the Single Most Valuable Retention Strategy

If you can’t figure out how to retain more residents in your community, the answer could lie in whether or not they’re friends with one another.

Research shows that 29% of renters who don’t know anyone in their community are likely to sign up for another year. But renters who know seven or more people in their community are 47% more likely to renew their leases.

(Source)

It makes sense.

When you have friends in your community, why leave it behind and start over from scratch?

The good news is that fostering stronger relationships in your community doesn’t have to be time-consuming or even expensive.

It just has to be interesting and fun enough for residents to join.

Facilitate the Right Resident Events

Get your property managers involved in resident events to create a buzz in your community.

You can focus on both annual and monthly events to give residents something to look forward to.

Here’s a breakdown of potential annual events:

👉 Holiday parties

👉 Football kickoff weekends

👉 Opening party for the seasonal pool

👉 “Block party” in your courtyard

Monthly events can focus on something that’s easy for residents to join but is still worth their while.

👉 Happy hour

👉 Pet play date

👉 Cooking demo

👉 Mixology class

👉 Community BBQ

Make sure any events you plan make it easy for residents to socialize with one another.

It’s also crucial to plan ahead.

Announcing a community event the day before it happens will just result in a poorly attended event that feels cringeworthy.

Tip 💡: Advertise your event for at least a week in advance. Planning an event where there’s a speaker isn’t conducive to making small talk and fostering friendships.

(Source)

Throw Niche Events

If your community is big enough, you can narrow down your community events to target specific groups.

Give singles an excuse to meet each other and parents a chance to trade tips and offer support.

You can also throw events for the college student crowd, empty nesters, and transplants who just arrived in your city.

Tip 💡: When residents have built-in commonalities and interests, they’re more likely to bond and feel supported enough to stick around.

Keep it Simple

Events are a fun way to infuse more life into your community, but they don’t have to be complicated or unpredictable.

A standing date to have the game on the big-screen TV in the lounge area with snacks is a sufficient way to start.

Or cater a simple weekend brunch once a month where everyone can chat and mingle before venturing out to tackle their Saturday.

Are your property managers stretched thin and don’t want to plan anything?

Tip 💡: Try partnering with a local pub or business and ask them to sponsor a trivia night for your community once a month.

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Create Common Areas for Conversation

Take a look around and identify where residents feel comfortable hanging out in their own community.

If all of your common areas are filled with stiff chairs and fluorescent lighting, you’re unlikely to foster much conversation.

Instead, think about rooftop terraces or lounge areas that make it comfortable to hang out together.

Or try transforming your courtyard into a well-landscaped gathering spot with benches, a bocce ball game, and an area for dogs to play.

If space permits, you can also create common areas on each floor to make it easier for residents to get to know their direct neighbors.

Just make sure your conversational areas are easy to access and make sense.

Sticking a sitting area off of the laundry room could make a ton of sense, especially if you don’t have en-suite washers and dryers.

But adding some chairs next to the business center with communal desk space will just frustrate your residents who are trying to work remotely.

Transform Your Amenities Into the Place to Be

Leverage your community amenities and turn them into the place everyone wants to hang out.

Is your pool lackluster?

Invest in more comfortable furniture, a sound system, and vending machines that make it easy for residents to gather together.

Is your fitness center a handful of treadmills and some weights?

Upgrade your equipment or tap area gyms for discounts for your residents to give them an excuse to workout together.

Tip 💡: You can also create common resident goals, like a workout challenge or water volleyball tournament, to make the most of your amenities while stirring engagement.

Showcase Your Residents in Your Community Blog

Don’t let your community turn into a clique of tight-knit friendships where other residents are left out of the mix.

Help residents put a name with a face by showcasing their neighbors in your community blog.

Feature residents with:

✅ Interesting businesses

✅ Adorable pets

✅ Unique hobbies

✅ A commitment to volunteer causes

The idea is to create more familiarity and camaraderie outside of your community events.

If residents can’t attend or are uncomfortable in larger groups, they still have an opportunity to see what their neighbors are up to and develop commonalities around common interests.

Make Residents Friendships Part of Your Marketing Strategy

Resident friendships are also a powerful marketing strategy to gain new leads and convert more leases.

After all, it’s a busy world, and we all crave deeper connections and friendships.

A review of 38 studies found that adult friendships, especially high-quality ones that provide social support and companionship, significantly predict well-being and can protect against mental health issues such as depression and anxiety—and those benefits persist across their lifespan.

(American Psychological Association)

The goal is to attract potential residents looking for more than a place to live, but an engaged community.

Highlight resident friendships in your marketing materials, from your blog to brochures and online ads.

If they’re willing, you can also feature real residents and gather quotes and sound-bytes about how friendships are part of why they love your community.

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