14 Sep Happy Tenants = Maximized Occupancy
Social distancing during COVID-19 Pandemic has proven great results in flattening the curve. However, for multifamily property managers, there is a price that comes with following the regulation.
According to a Multifamily Executive’s research, the fact that major amenities like pools and gyms are closed or have limited access upsets many tenants, who now demand reimbursement or discount on rent: “Some residents have expressed that they have chosen not to renew their leases because of the “management’s handling of the pandemic.”
If it is your goal to maintain the rent level or justify planned a rent increase, now is the time to refocus your investment to something that fits the three criteria: accessible for all tenants, directly elevates their quality of life, and comes at an economical cost.
The solution is simpler than you thought
As the majority of tenants are working from home, they might not pay attention if you decide to plant new shrubs and flowers in front of the building. What they care most about is the comfort and convenience inside their apartment, which can be easily improved with the modern closet system of CLOZZITS.
The closet is more important to tenants than it may seem. A Landlordology survey showed that 70% of renters said closet space is the top deciding factor when choosing a new apartment. According to a survey done by Woodworking Network, 25% of American women are unhappy about their messy closet and 10% feel depressed to open the closet door.
Everyone desires a tidy and clean house that sparks joy and happiness, but it is not easy to organize their accumulated belongings with an old closet system that does not offer enough storage capacity. Research by Closet & Storage Concept shows that “ Worrying that their home isn’t clean or organized enough is the 5th most common stress trigger for Americans”.
Happy tenants equal maximized occupancy, if you can provide the tenants with a new, modern closet that makes their lives easier and more organized, you will become their hero and they will thank you by renewing their leases. Even better, 49% of people surveyed said that they are willing to pay an additional $75 per month for a closet with more storage space, according to Multifamilyexecutive.com.
We fit all of the mentioned three criteria that are most important to you: we are accessible to all tenants; we improve their quality of life with uncluttered living space; and lastly, our price is 30-50% cheaper than other closet providers’. We can keep a low cost while maintaining an excellent quality because the whole process is done in-house, from manufacturing to installment. Everything is simplified and optimized, from the uniform design custom-made for your need to the minimal installment time of fewer than 4 hours. All to ensure you complete peace of mind throughout a smooth and professional process.
Imagine being the apartment complex with 100% occupancy, happy tenants, and an increasing net of income. In fact, one of our clients recently increased $7,944,000 in their net asset value within 22 months. That success can be yours too.
Don’t let the opportunity pass, schedule a call with a CLOZZITS expert today!