Strategies for Enhancing Renter Loyalty & Retention

According to Stephanie Brock of Waterton, the concept of value-add has evolved to encompass properties built as recently as 2015, with a focus on improving both the physical aspects and management practices. The updated Verona is designed to appeal to "renters by choice"—individuals who have the means to purchase a home but prefer the flexibility and convenience of renting. This group includes young professionals, empty nesters, and remote workers.

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Dwight Dunton, CEO of Bonaventure Holdings, points out the financial benefits of renting, such as the elimination of down payments and ongoing maintenance expenses. For investors, it’s crucial to assess the surrounding neighborhood, as renters often seek easy access to dining, entertainment, and recreational options.

 

The Verona at Boynton Beach is a 216-unit residential community in Florida that boasts spacious living spaces and a range of amenities, including a clubhouse, fitness center, and dog park. Located in a thriving area with significant growth potential, this property is poised for strategic enhancements.

 

Eugene Colberg from Colberg Architecture stresses that while a strong amenity package is important, effective property management and personalized service play a key role in tenant retention. Additionally, upgrading technology—especially high-speed Wi-Fi—is essential for attracting modern renters, who increasingly prioritize convenience and reliable connectivity in their living environments.