How to Exceed Resident Expectations

As the article says, everything in 2023 is about resident convenience such as access technology, or prop tech. Digitally controlling locks, lights, and thermostats is almost a mandate in new properties. Non-tech amenities include providing adequate common area workspace to accommodate residents who get tired of working their apartment. Fitness and health related amenities include having exercise equipment that can be found both inside and outside. But before owners commit to any upgrades they must ask how it will benefit the residents and can it be easily managed. To find out, engage with your residents. With all of the changes occurring in multifamily, not the least of which is all of the new units coming on-line, resident interaction leads to resident retention. The successful owner should focus on property appeal with the proper amenities and of equal importance is focus on resident retention. They can obviously go hand-in-hand.

Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management and all aspects of a multifamily investment. Specific diligence is on property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets (10-to-60-unit properties) and provides a full range of brokerage services for property listing and sale.

Please find us at or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.

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