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Article: Let them own the place: give residents more creative liberty with their apartment homes, and they will be more inclined to stay.(Independent Rental Owner)
- Article from:
- Units
- Article date:
- November 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 National Apartment Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Residents are the biggest asset a community has. Sure, there are accountants, but it is the residents who truly represent the revenue. Yes, communities employ maintenance, security and janitorial staff, but it is the residents who ultimately keep the property clean and safe and it is the residents who maintain the property's attractiveness.
One way apartment owners can increase the value of their communities is to fill them with high-quality residents. But good residents are hard to find--and even harder to keep.
The profile of the B- and C-market resident has changed compared to 10 years ago. Many of the renters from that ...