Understanding and communicating with multifamily residents are top challenges for property managers, according to a new report from San Diego-based management software provider Zego.

In addition, there appears to be a disconnect between what owners and managers think renters want and what they really desire.

The report draws from surveys of over 600 multifamily property managers and more than 1,000 renters. On a number of the survey’s questions about the resident experience, managers gave very different answers about what they believed residents valued in their living experience than the residents themselves. 

For instance, while property managers believed renters were predominantly moving due to lifestyle changes, a majority of renters reported their main reason for moving was because rent was too expensive. This option did not rank in even the top 12 of responses for managers, according to Zego.

All of the top five reasons managers cited for renter turnover are considered outside the property’s control — such as life changes or home purchases — while the renters’ top five reasons are within the management’s power to address or change. “This shows us that property managers have much more control over resident turnover than they think,” the report said. 

At the same time, a majority of managers believe that the most important element of apartment living for renters is a tech-enabled lifestyle. Renters instead name maintenance, security and community appearance and cleanliness among their top priorities. 

“While many apartment communities are rightfully providing alluring amenities and perks, it’s important that property managers do not lose focus on their more ‘boring’ offerings,” the report said. “Renters may be drawn to enticing features like pools, smart technology or concierge services. But at the heart of their living experience is the peace of mind that a secure and well-cared-for community brings to residents.”

Residents still value technology for certain tasks in the rental experience, but would rather have the human touch for others. A majority of renters want to perform community surveys, receive updates and alerts and pay rent on a digital platform, but prefer renewing leases, moving in and receiving packages by interacting with a human staff member.

Getting a better sense of renters’ needs and expectations will allow managers to reduce turnover and its associated expenses, which can amount to nearly $4,000 per unit, the report said. It also allows them to take advantage of renewals, which were a driver of income growth in 2023 and 2024, according to the report. 

In order for property managers to better understand their renters, Zego recommends conducting surveys, arranging face-to-face conversations between staff and residents, creating renter advisory groups and instituting reward programs. 

“Engaging with renters face-to-face reaps so many rewards that it’s made many companies utilize automation so their team members have more time for these valuable interactions,” the report reads. “Freeing them from their job’s mundane and repetitive aspects leaves more time for meaningful duties like building relationships with residents.”