Cultural awareness helps retain renters

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Information about Cultural awareness helps retain renters
Business & Mgmt

Published on March 4, 2014

Author: tangible2



Multifamily property managers can increase profits by retaining multicultural tenants through cultural awareness and sensitivity.

How do you Retain Multicultural Renters?

Through Cultural Sensitivity and Education

Why do multicultural clients have the tendency to continue negotiations even after the lease has been signed?

Culture! It’s a great question that many property managers and leasing agents often ask when working with renters from other cultures.

In some countries, signing a contract signals the beginning of negotiations!

Effectively communicating with multicultural renters has an immediate and tangible effect on a rental community’s bottom line. .

It helps avoid costly maintenance issues.

It saves staff time.

Making communications smoother and less stressful contributes to net savings for your rental community.

For real estate professionals, cultural sensitivity can help build rapport, streamline the negotiation process and yield more satisfied clients.

An industry survey by the National Apartment Association highlights that the heart of positive financial results lies at the junction of property operations and resident needs and satisfaction.

So what is culture?

Culture is a loaded word – perhaps more than any other term, it is greatly colored by your own background. What it means to you is based on your family history, your religion, your reality, and your perceptions.

If you have never tried an ethnic cuisine, its ingredients, flavors and textures may seem unusual. Similarly, if you don’t understand why people from a different culture behave the way they do, their actions may also seem unusual, unfamiliar, or even wrong to you.

Key Concept: They aren’t wrong. They’re just different. In a world of cultures, there is no right or wrong culture, no one culture that is “better” than another.

Make a Cultural Mind Shift If you approach your education in cultural sensitivity with an open mind, devoid of stereotypes, you will learn that your perception may not be their reality. This cultural mind shift will greatly benefit your business relationships.

Culturally based behaviors can impact every step of the property rental process. Your response can encourage a positive outcome.

Image Credits • • • • • • • • • • • • • Slide 3-- Image courtesy of Jeroen van Oostrom / Slide 5 -- Image courtesy of Ambro / Slide 6 -- Image courtesy of Stuart Miles / Slide 7 -- Image courtesy of Grant Cochrane / Slide 8 -- Image courtesy of hyena reality / Slide 9 -- Image courtesy of digitalart / Slide 10 -- Image courtesy of stockimages / Slide 11 -- Image courtesy of tungphoto / Slide 13 -- Image courtesy of Bill Longshaw / Slide 14 -- Image courtesy of Meawpong3405 / Slide 15 -- Image courtesy of aopsan / Slide 16 -- Image courtesy of nattavut / Slide 17 -- Image courtesy of Master isolated images / Twitter/@tangibledevel 866-525-2818

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