Loyalty as a Leasing Engine
What if your most powerful leasing tool wasn’t SEO, ILS, or advertising spend—but the residents already living in your community? That was the bold premise driving the conversation as Paul Edgeman, Aaron Glick, Kasee Godwin, and Woody Stone unpacked the power of loyalty in multifamily. Drawing from experience in hospitality, property management, and resident engagement, the panel challenged attendees to rethink retention not as a backend metric, but as a frontend strategy.
The discussion opened with a clear consensus: in 2025, retention is where the rent growth is. With acquisition costs rising and renter expectations evolving, operators are leaning into resident loyalty programs and experience design as levers to sustain revenue and reduce turnover. Rather than chasing short-term lease-ups, the focus is shifting to long-term value—maximizing the lifetime impact of each resident relationship.
One of the core challenges raised was the fragmentation of brand identity in multifamily. While operators often invest in property-level branding, there’s limited consumer awareness or emotional connection to the parent brand. This creates a gap in loyalty strategy. In hospitality or retail, brand affinity is a major driver of repeat behavior—but in multifamily, that connection is rarely cultivated. The panel encouraged companies to think beyond the individual building and explore ways to build brand recognition and loyalty across portfolios.
Loyalty programs, particularly those involving rent payments, are becoming a critical differentiator. Built Rewards served as a prime example: its ability to tie everyday financial activity (like rent) to point-based incentives mimics airline or hotel models, creating a familiar structure for renters. But the speakers emphasized that loyalty isn’t about gimmicks—it’s about meeting residents where they are and recognizing their pain points. Paying rent is a friction-heavy, often stressful monthly event. Turning it into a rewarding action—literally—transforms the relationship.
The group also addressed the emotional nuance of moving and leasing. Many renters arrive at a property during moments of life disruption—relocation, breakups, financial stress. These inflection points offer opportunities for empathetic engagement. By approaching leasing and renewals with a hospitality mindset, operators can shift the resident experience from transactional to relational. That’s where loyalty is born.
Internal alignment also surfaced as a make-or-break factor. Loyalty programs can’t be bolt-on features—they need to be woven into the daily practices of site teams, leasing professionals, and corporate marketing. Training staff to explain, promote, and manage these initiatives is key. If residents don’t hear about the value, or if the experience is inconsistent, trust erodes quickly. The panel urged operators to treat their teams as brand ambassadors, not just functionaries.
When it comes to metrics, the speakers encouraged a broader view. Instead of just tracking renewal rates, operators should be looking at referral traffic, community engagement scores, and participation in loyalty programs. These softer indicators reveal the strength of the resident relationship—often before lease decisions are made. Smart operators are beginning to layer these signals into forecasting and retention models.
One insight that stood out was the idea of loyalty as social capital. Residents who feel valued and connected to a brand are more likely to advocate for it—on social media, through reviews, and in personal conversations. That advocacy becomes a leasing engine in its own right. Word-of-mouth, especially in tight rental markets, can outperform traditional advertising.
The panel also touched on technology integration and scalability. As loyalty platforms become more sophisticated, they’re starting to integrate with PMS systems, CRM tools, and marketing automation—allowing for personalized outreach and real-time tracking of engagement. But again, technology isn’t a silver bullet. Strategy must lead the way, with tech serving the execution.
Closing out the session, the speakers emphasized the holistic nature of loyalty. It’s not just a marketing campaign. It’s the cumulative result of culture, service, product, and intentional design. From resident events to mobile experiences to the tone of your lease renewal email—every touchpoint either builds loyalty or breaks it.
In a market where attention is fragmented, competition is fierce, and turnover is costly, loyalty isn’t a luxury—it’s a strategy. And if operators can learn to harness it, they’ll discover that the best leasing campaign might just begin with a heartfelt thank-you to the people already calling their communities home.
Here is the replay: