One Simple, Low Cost Way to Significantly Increase Tenant Retention
Whether you manage condominiums, apartments, or business units, long-term tenant retention is one of the major keys to profitability. Happy tenants not only stick around, they also become a significant part of your marketing plan as they quickly invite their friends and trusted associates to lease or rent space in your complex. Of course, this is not news to any property manager as many go great lengths to create a social environment where tenants connect with each other. Some build community rooms, add major amenities such as pools, spas, and tennis courts, or even hire social directors who put on weekly activities for everyone.
Yet nearly every property manager overlooks a very simple and low cost solution to increasing their tenancy retention: the mailbox. Every day, your tenants will go to their mailbox and retrieve their mail. And as they retrieve their mail, most will be a bit irritated by the same inconvenient, insecure, and outdated mailboxes that have been overlooked for years.
Forward-thinking property managers have learned that the best mailbox solution for tenant retention is the cluster mailbox unit or CBU mailbox. One property manager in San Diego, California, said, “There’s three main reasons why the cluster mailbox solution works:
First, while it may seem more convenient for each tenant to have a mailbox located near their front door, it’s much more effective to group all the mailboxes together and to design the space as a social interaction place. When grouped together, these attractive yet very low maintenance units can inculcate an informal meeting place for your tenants. All CBU units have attractive accessories that can be easily added to improve the ascetics of the space.
When grouped together in a half or three-quarter circle, these cluster mailbox units create a courtyard where tenant can connect with each other and develop relationships. And when it comes to tenant retention, a friendly neighborhood where tenants develop relationships has major sticking power.
Second, cluster mailboxes offer a significant advantage over traditional mailboxes when it comes to mail theft since each and every mailbox in the CBU mailbox unit is secured by lock and key. Plus, by grouping the mailboxes together, you significantly reduce the opportunity for mail theft that occurs when mailboxes are isolated on each property. U.S. Postal Inspector, Dana Hansen reports that thieves are also stealing outgoing checks placed in a mailbox for collection. “A raised flag indicating that outgoing mail is in a mailbox is easy for thieves to spot, as is mail clipped to a mailbox,” Hansen said.
The best solution is to provide tenants with a secure collection place for their outgoing as well as incoming mail. The CBU mailbox is a perfect fit. Regardless of whether your property has but a few tenants or well over a hundred, CBU mailbox units can be configured from 8 doors to 16 doors per unit and can be purchased at significantly lower prices when ordered in quantities of five cluster mailbox units or more.
Third, cluster mailboxes provide a safe delivery point for holiday packages, everyday package deliveries, and home-based businesses. With the growing advent of home-based businesses and work-at-home businesses, many tenants have an ongoing daily need to receive packages crucial to their business success. The cluster mailbox unit allows tenants to receive packages without fearing that they’ll be left at their door unsecured – providing an easy target for package thieves.
Also, note that CBU mailboxes on pedestals may soon not be the only pedestal-based solution for delivery units. The 4C unit, featuring from 1 to 29 doors per unit is now available and may ben installed in your area with local post office approval.