Contributed by: Wendy
Category: Retention and Renewals
Idea/Theme: During months when we have larger numbers of leases expiring and possibly higher turnover, we encourage our residents to sign new leases “early” by hanging their renewal letter on one side of a brightly colored clothes hanger using curling ribbon. We then hang a card on the other side stating “We would love for you to hang around” renew your lease today! If residents sign a 12 month lease by a certain date AND bring us the hanger back we put their name in a drawing for a special prize. (Usually a gift card to the store of their choice.
Media Vehicles: Deliver directly to the resident’s apartment and hang on their door knob.
Estimated Cost: $1.00 each
Results: We have had great success with this and have renewed as many as 12-15 leases a full 60-days before they expired.