With the winter months coming fast, apartment operators are ramping up their annual efforts to retain residents, dubbing it their quest to “keep heads in beds.” 

This year, the stakes are even higher as a surge of fresh competition floods the market in various metropolitan areas. Plus, with interest rates potentially on the decline, renters may be lured into the prospect of homeownership. 

These headwinds are prompting property managers to pull out all the stops to keep their current residents cozy and committed through the colder months.

Here are five ways that apartment operators are strategizing to retain residents this winter.

Create activities for the season

Charleston, South Carolina-based multifamily owner, manager and developer Greystar believes in creating a sense of community and belonging for its residents, especially during the winter months. That’s why it builds connections and celebrates the spirit of the season through holiday-themed events. These include festive parties, holiday contests such as door and balcony decorating and pop-up holiday markets featuring local small business owners. 

“In addition, we offer fun and engaging activities such as holiday-themed comedy nights, karaoke events, cookie decorating, gift wrapping stations, potluck dinners and ugly sweater parties,” said Christina Perez, director of real estate at Greystar. 

These events bring residents together and create memorable experiences that enhance their sense of community. “For communities with ample space, we also invite food trucks to visit on a weekly basis, providing a fun and convenient dining option for residents,” she said.

To further build community spirit, Greystar’s properties organize charity drives for food, coats and toys among other things, allowing residents to give back and support those in need during the holiday season.  

AvalonBay, an Arlington, Virginia-based REIT, hosts its Spirit of Caring season from Nov. 1-Dec. 31 each year, and invites residents to participate in these efforts. 

“From donation drives to volunteer events, we find that residents appreciate the opportunity to team up and give back during this season of giving,” said Sarah Mathewson, regional senior vice president of property operations at AvalonBay Communities. 

Strengthen relationships

Even though fewer people are actively searching for new housing in the winter, it’s still important that apartment operators keep their current residents happy and feeling heard. 

“Our on-site teams are strengthening relationships with our residents year-round, but they make sure to leverage the winter months to make ‘warm calls’ to check in, gather feedback and address any maintenance or service issues,” Mathewson said.  

Resident retention is also a priority for AVB’s team. “The team is plugged in daily, quickly responding to inquiries and proactively reaching out to those who haven't decided yet, giving them a call or emailing them with helpful next steps on how to renew their lease or give notice through our customer portal,” Mathewson said. 

Offer services and giveaways

Ashley Sinclair, executive vice president of Southfield, Michigan-based property managemant firm Village Green, understands that life for most people in the winter months is pretty chaotic, so management focuses on time-saving services and giveaways to keep residents happy, which can drive retention.

“We may have gift-wrapping stations on each floor or we may offer to deliver packages to apartments with their permission — just different small touches that hopefully alleviates a little bit of stress for the residents,” she said. “We know people have choices, but one thing we can do is infuse the human touch point and customer service.” 

Joya Pavesi, president of brand and strategic services at RKW Residential, a Charlotte, North Carolina-based multifamily property firm, said that a key component of the firm’s retention strategy is its signature services — small, surprise-and-delight moments designed to provide a more personalized experience.

For instance, it offers a portfolio-wide holiday campaign featuring weekly giveaways and special offers from national brand partners like Jeni’s Ice Cream throughout November and December, where residents have the opportunity to receive free products and exclusive deals from partners for fine jewelry, health and wellness items, home goods and pet products.

“Our primary strategy is to proactively manage lease expirations to minimize winter vacancies,” Pavesi said. “When needed, one of our most effective strategies is to create a sense of urgency around lease renewals. For example, we encourage residents to renew by a specific date to receive a more favorable rate, or we offer gift cards as a reward for early renewals.”

Provide referral bonuses

The holiday season often brings extra stress for both residents and property managers. With many tenants focused on holiday plans, travel and seasonal obligations, they may be less likely to engage in lease renewals or explore new housing options.

That’s why Daniel Rigaux, managing director and head of multifamily and hospitality development for Baltimore-based management firm MCB Real Estate, said that increasing resident referral bonuses in the winter months often leads to renewal successes. Additionally, getting a handle on what residents’ plans are for the upcoming year is also a good thing to learn about during the end of the year. 

“We typically reach out to residents 90-plus days before their lease end date via calls, emails or texts, which helps us understand their intentions for the upcoming year and allows us to plan for any potential vacancies,” Rigaux said. “By offering early bird renewal incentives with a rent credit on the first month of a new lease, it encourages residents to let us know of their plans sooner rather than later to effectively remarket any anticipated vacancy well in advance of the move-out date.”

Promote indoor activities

During the winter months, it’s important to focus on amenities and experiences that enhance residents’ comfort and convenience, especially as colder weather can limit outdoor activities. 

“An effective strategy is to actively promote indoor amenities, such as fitness centers, lounges, game rooms and co-working spaces,” Greystar’s Perez said. “These areas provide residents with opportunities to socialize, stay active and relax, even when it’s too cold to enjoy outdoor spaces.”

After all, a 2023 National Apartment Association report revealed that 42% of renters consider access to high-quality indoor amenities a major factor in their decision to renew, making it essential to highlight these offerings

“Additionally, hosting indoor events and activities can greatly contribute to retention during winter,” Perez said. “Consider adding ‘winter wellness’ programs that include special promotions for wellness-related amenities such as discounts on personal training, yoga classes, sound meditation and spa services. This not only adds value for residents, but also positions the property as a place that genuinely cares about their well-being and mental health that will ultimately strengthen their loyalty.”