South Jersey, NJ Security News

The Cost of Resident Turnover

All community managers deal with the cost of resident turnover which can be a large expense that financially hurts your bottom line and takes up your time. When a resident leaves your community, there are numerous costs incurred including repair and cleaning costs to maintain the unit, marketing expenses to find another qualified resident, application processing fees, and lost income from rent. Being proactive to take the necessary steps to prevent and lower resident turnover makes good financial sense.

Reduce Resident Turnover

One in five residents leaves a community because of a security issue. Did you know that offering a courtesy patrol as an amenity for your community not only helps you retain your residents by lowering security risks, but can actually pay for itself? Reducing resident turnover by even one unit a month can potentially pay for the monthly cost of a courtesy patrol service for your community.

A courtesy patrol is a cost-effective amenity communities can market to keep current residents and attract new residents. Residents appreciate the extra safety measures and peace of mind.

The service also provides many essential on-property security functions that help you fulfill your job responsibilities.  A courtesy patrol is an extra set of hands to assist you with nuisance calls, handle parking issues, enforce community rules, respond to emergencies, conduct pool checks, and help with other security-related tasks especially when you are off-site. Overall, it’s a good investment for your community.

Understand Your Return on Investment

While no community is going to have zero resident turnover, a sustained focus on implementing strategies to reduce turnover is beneficial. Let Signal 88 help you retain residents, decrease turnover, and provide peace of mind.

Contact Jim Pio for a custom assessment for your property to better understand the true cost of resident turnover. We’ll help you calculate the ROI and determine if a courtesy patrol service is a good option for your community.

Signal 88 Security of South Jersey is a world-class, industry-leading security services company for residential, commercial, retail, and institutional customers. We provide customized security solutions including roving vehicle patrols, door checks, pool lockups, and emergency response.