Fill Vacancies with Resident Referral Program

Need a way to fill your community with qualified, responsible residents?

A resident referral program can assist in bringing in new residents.  Consider rewarding residents with a gift, money or an enhanced amenity when they refer new residents to your community.  This type of program is a powerful marketing tool for many reasons.

• Cost Effective.  A resident referral program doesn’t require you to pay unless you get a new resident.

• Word of Mouth Advertising.  There is now an incentive for residents to spread the word about your community.

• Attracts Prospects That Fit the Mold.  Responsible, qualified residents are likely to have responsible friends and associates who are also qualified.

• Portrays Positive Image.  Offering prospects free or discounted rent concessions can make you look overly anxious.

• Renewals are Encouraged.  When a residents friends or family members also live in the community, they’ll be more likely to stay.

Set Program Rules

In your rules, define what a valid referral is; spell out what makes a resident eligible for participation.  If you don’t you may end up ruining a valid resident relationship.  To avoid any problem, have a resident who wants to participate sign a document acknowledging they understand the rules and are in agreement to comply.

Promote the Program

Publicity is very important to the success of your resident referral program.

• Advertise to Prospects.  Talk to prospects about your program when in the community.  Post it on a sign at your community’s entrance along with a list of your other amenities.  Also, mention you have a resident referral program on your community’s web-site.

• Recruit New Residents.  Inform all new residents when they arrive about your program.  Let them know they can start right away, and have them sign an acknowledgment document when they sign the lease.

• Inform Current Residents.  Keep current residents in the loop regarding your referral program.  Post reminders in your newsletter if you have one, or on a community board where residents interested in participating will have the information they need.

• Handout Marketing Material.  Make sure your residents know all there is to know about your community by preparing marketing materials for them to distribute to potential referrals.  Keep materials easily accessible for all residents.

• Make Your Program Fun.  Host resident referral parties, where eligible residents are encouraged to bring potential prospects for hors d’oeuvres and a community tour.

• Have a Theme.  Keep your referral program exciting.  Publicize to offer an extra monetary incentive to the usual referral fee around the holiday season.

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Midwest Management Launches New Condominium Department

In recognition of the increasing demands and sophistication in the management of Condominiums and Home-Owner Associations, Midwest Management is pleased to announce the formation of our new Condominium Department.

The new Condominium Department will bring clients specialized and focused services designed to enhance the management and maintenance of each Association.  Our Regional Association Managers specialize in Condominium and Home-Owner Associations.  As specialists each of our Managers will be able to focus their skills and talents on the unique challenges of condominiums.

To learn more about how our Condominium Team can assist with the operations of your association, please call 800-611-0950 for a confidential analysis or visit our website at www.midwest-mgmt.com.