One of the most difficult friction points with new residents, according to Settimi, remains the move-in itself. From paperwork to utility transfers, the process can be time-consuming, stressful and expensive. “Concessions are often the first option that many property management companies turn to,” says Settimi, “but they can have long-term financial risks.”

That’s why some PMCs are addressing affordability with alternative models, such as deposit alternatives or installment options.

Another expense that prospective residents face is renters insurance. Settimi notes that offering a simple way to provide comprehensive coverage during the leasing process can improve the experience and help ease costs. “Some newer options allow you to build that premium into the rent payment, so there aren’t any extra steps for the resident, and both the resident and the property are continuously protected.”

However, Settimi cautions against waiver programs that lack transparency. Renters may assume their personal belongings are covered only to find out too late that they aren’t. Situations like this can create negative experiences and lead to reputational damage.

Prioritizing Amenities That Matter
While traditional amenities like pools and gyms are still valuable to residents, they’re often expensive to upgrade. This is leading many PMCs to shift their focus to lower-cost, higher-value offerings, such as coworking spaces, pet amenities, green areas, and smart home features.

Technology, in particular, is becoming a key differentiator. According to Assurant research, 56% of renters say smart home features are among the most important factors when choosing a rental. Nearly 20% also say they need technical assistance on a regular basis.

This demand is pushing maintenance requests to a level that many PMCs find hard to manage. Assurant recently responded by launching Assurant TechPro, a cross-platform support service that provides residents with unlimited live technical assistance for everything from Wi-Fi connection issues to setting up smart home devices.

“Based on our research, a super high 86% of renters indicated that adding tech support would significantly increase their positive perception of the PMC,” Settimi notes.

Shifting to a Service-First Approach

As PMCs move forward in an oversupplied market, shifting from an operational mindset to a service-first approach will become even more important. When leasing offices can ease move-in burdens and reduce back-office responsibilities, they can focus more energy on serving residents and creating experiences that are worthy of renewal.

“What we’re really aiming for is that when residents reach the end of their lease, they feel at home and cared for and aren’t even considering going anywhere else,” says Settimi.