The War to Woo and Retain Residents: Key Findings from Parcel Pending’s 2023 Resident Survey Report

While “must-have” amenities are often discussed and debated, key findings from a 2023 survey by the National Business Research Institute (NBRI) are clear: one of residents’ most valuable amenities is package security.

Mass adoption of online shopping and home delivery has created resident expectation for on-demand package access and a sizeable package management challenge for properties. In the current competitive landscape, this package management “problem” has also presented a prime opportunity for apartment communities to woo and retain residents.

Weekly Deliveries are the New Normal

Most residents receive at least one package per week – if not more. 90% of residents who responded to the NBRI survey reported receiving between 1-10 packages per week.

What This Means

Resident package deliveries aren’t going away any time soon. Communities must implement a solution, like smart parcel lockers, to offer safe, secure, on-demand access to deliveries.

Package Security is Top of Mind

The NBRI survey revealed that 70% of residents have fallen victim to package theft. Further, 82% of residents surveyed strongly agree that knowing their package is secure until they get home is important to them.

What This Means

Residents want to receive packages safely, conveniently, and on their schedule. Parcel lockers offer this important assurance – one that community residents now expect, if not demand.

Parcel Lockers Rank Highly on Residents’ Amenity Wishlist

Parcel lockers moved from third place (2022) to second place (2023) in residents’ ranking of their top five amenities – just after secure parking. NBRI survey respondents cited security, accessibility, and speed as their top reasons for ranking lockers so highly.

What This Means

Other amenities – such as the gym or the pool – are nice to have in residents’ eyes, but not as frequently and widely used as secure package management solutions like parcel lockers. Amenities that serve the greatest number of residents with the most frequency tend to have the largest impact on resident retention, Gross Scheduled Rent (GSR), and Return on Investment (ROI).

Happy Residents Lift Lease Renewals

As recently as last year, 79% of residents wouldn’t even visit a property if it had sub-par reviews¹. Multifamily communities have lifted lease renewals by as much as 40% simply by installing Parcel Pending smart lockers².

What This Means

Every property management group today is evaluating its amenity budget to maximize satisfaction, minimize vacancy rates, and grow GSR. When selecting amenities, property managers must consider both financial ROI and “Return on Happiness”. Happy residents will pay more, stay longer, and refer others.

When you’re ready for a reliable and innovative package management solution, Parcel Pending should jump to the top of your list. Lockers provide a safe and secure amenity that is most requested and most often used. Available to residents 24/7/365, smart lockers can take your leasing staff out of the package management business and return them to their core business of attracting and retaining residents.

To uncover more important resident insights, download our free 2023 Resident Survey report.

Sources:

1. Baker, Stephen. 7 Trends that Influenced Resident Retention and Acquisition in 2022. www.multifamilyinsiders.com. December 29, 2022. https://www.multifamilyinsiders.com/multifamily-blogs/7-trends-that-influenced-resident-retention-acquisition-in-2022-1.
2. Cortland Partners survey showed as much as a 40% increase in renewal intent at properties with Parcel Pending lockers.