Shaking Up the Resident Model: RETCON 2025 Insights

The traditional multifamily model is dead. At RETCON 2025's "Shaking Up the Resident Model" panel, industry leaders made it clear: the era of collecting rent and avoiding tenant interactions is over. Today's residents expect Amazon-level personalization, Apple-like simplicity, and authentic community connections.

The driving forces behind this transformation are undeniable:

• Customer expectations have dramatically shifted
• Competition now centers on customer service, not just amenities
• Every interaction presents monetization opportunities
• The industry can no longer afford to treat resident engagement as a cost center

Why "Love" Matters in Multifamily

Bozzuto's Kelly Shannon introduced a concept that might sound unusual in real estate: becoming a "love brand." She defines this as "a brand for which there is no substitution" – think Apple customers who line up for new devices every two years without considering alternatives.

The business case for love is compelling: When Bozzuto surveyed 3,000 of their best residents, they discovered that 58% felt only moderate community connection, revealing massive opportunity space. More importantly, they learned that residents demand foundational basics first – safety, cleanliness, and responsive management – before engaging with additional services.

"Every interaction is an opportunity to bring humanity. We talk to our residents to make sure that when there is a problem, we've got a relationship that will allow us to fix it without it escalating." - Kelley Shannon, Managing Director, Marketing, CX and Revenue Management at Bozzuto

From Cost Center to Profit Engine

Venn CEO Or Bokobza outlined how the industry can transform resident services from expenses into revenue drivers through what he calls three key effects:

The Apple Effect: Seamless, Simple Experience

"All those services – dog walking, cleaning, internet – existed forever. But the unified experience connecting all these dots from a month before residents move in until a month after they leave doesn't exist yet in every building."

The Amazon Effect: Knowing Residents Better Than They Know Themselves

Centralizing and normalizing resident data enables personalized experiences. "When residents feel this level of love, they stay longer. They feel at home in their buildings, in their neighborhoods."

The Supermarket Effect: Strategic Service Positioning

Like placing candy at checkout height for children, smart positioning of services and offers can dramatically increase uptake and revenue.

Practical Implementation: How Leaders Are Scaling Love

Avenue5's Approach to Bridging Experience Gaps

Mariya Heath focuses on the disconnect between leasing promises and actual resident experience: "We see room to elevate that living experience versus what we value for amount asked versus value for amount paid. We've got to be focused on the full customer journey and filling all those little spaces in between with love."

Willow Bridge's Technology Integration Strategy

Trina Williams emphasized that new technology must solve specific problems: "We're not just going to implement a tool just to implement a tool. There's an issue that we're trying to fix." Her company focuses on communicating clear business benefits: increased retention, higher occupancy rates, and improved online reputation.

The Platform Integration Revolution

Industry leaders are demanding vendor integration rather than managing multiple point solutions. As kelley Shannon noted, "Six months ago, we told all your vendors and partners: if you want to work with us, you need to work our way and integrate to our platform." This approach creates seamless experiences for both residents and staff.

Measuring Love: ROI That Matters

The panel emphasized that emotional connection must translate to measurable business outcomes:

Key Metrics Beyond Traditional NOI:

• Resident retention rates and reduced turnover costs
• Employee satisfaction and reduced hiring expenses
• Revenue from integrated services (dog walking, insurance, housekeeping)
• Online reputation scores and their impact on leasing velocity
• Cross-selling success rates for resident services

The Flywheel Effect: Better resident experiences create happier, more motivated employees who deliver superior service, leading to higher retention and lower operational costs.

Three Actionable Steps for Property Managers

1. Audit Your Current Resident Journey

Survey your residents about community needs and experience gaps. Bozzuto's 58% response rate proves residents want to engage when asked thoughtfully.

2. Establish Platform Integration Requirements

Tell vendors they must integrate with your chosen resident platform to work with you. This eliminates data silos and creates unified experiences.

3. Shift from Vendor to Partner Relationships

Avenue5 calls vendors "suppliers" to emphasize partnership over transactional relationships. Look for companies that align with your resident experience vision.

The 2025-2026 Transformation Window

Industry leaders predict the next 18 months will be critical for this transformation. Companies that successfully integrate resident experience platforms while maintaining authentic community connections will establish significant competitive advantages.

"The industry is ready. The biggest leaders get it. They're just trying to connect the dots right now." - Or Bokobza, Venn

The bottom line: Property managers who continue operating with a transacyional mentality will find themselves competing against companies that treat residents as valued customers deserving of Amazon-level personalization and Apple-like simplicity. The choice is clear – evolve or become irrelevant.

Ready to transform your resident experience? Start by surveying your residents about their community needs, audit your current technology stack for integration opportunities, and identify partners who share your vision for resident-centric service delivery.

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