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Why Resident Rewards Programs Are Delivering Real Results
Nearly every multifamily operator emphasizes that resident experience is their top priority. But creating an exceptional living environment requires more than intention—it requires meaningful investment. Today’s residents expect personalized, consumer-centric interactions that go beyond traditional “wow factor” amenities like resort-style pools.
At the 2025 Entrata Summit, panelists from the session “Boosting Retention With Strategic Initiatives Residents Care About” highlighted one solution gaining momentum across the industry: robust resident loyalty and rewards programs.
The Value Behind Resident Rewards
By offering points for on-time payments and other positive behaviors, operators can mirror the loyalty models used by major consumer brands—credit cards, airlines, hospitality, and more. According to Entrata, 97% of renters are more likely to renew if they can earn points for paying on time, and operators can achieve as much as a 25% lift in NOI by increasing retention by only 5%.
“This is the age of experience, and your residents are consumers,” said Everett Lynn, CEO and founder of Amenify. “Their expectations are incredibly high—but that creates significant opportunities for operators who are willing to invest in programs that are personalized, valuable, and relevant to the resident journey.”
How UDR Uses Rewards to Drive Renewals and Revenue
Public REIT UDR has quantified the financial impact of turnover: each move-out costs the company roughly $4,000, including lost rent, maintenance, and concessions. Increasing renewals by even 1% across its portfolio generated an additional $3.5 million in NOI.
“When I read that, the lightbulb went on,” said Alex Buchanan, Head of Homebody at Entrata. “If a 1% increase in renewals drives that much revenue, the next question becomes: which levers should operators pull to get there?”
For UDR, loyalty programs have played a key role in strengthening renewal rates. The company pairs rewards with proven practices such as early renewal outreach, timely notices, and opportunities for residents to transfer within the community—creating a comprehensive strategy that reinforces satisfaction and retention.
What Resident Behaviors Should Be Rewarded?
While on-time rent payments are a universal component of loyalty programs, the panelists emphasized expanding incentives to reflect broader engagement. Reward-worthy behaviors may include:
Attending resident events
Early lease renewals
Completing surveys
Booking rentable amenities
Supporting local business partners
Engaging with community-specific offerings
Customizing rewards ensures that they reflect the property’s culture, amenities, and resident expectations.
Keep It Simple: Customizable
According to Britton Pederson, Entrata’s Industry Principal of Loyalty, operators must prioritize two key elements when designing any rewards program:
Simplicity: Programs should be easy to use for both residents and on-site teams already managing heavy workloads.
Flexibility: No loyalty program should be “one size fits all.” Properties need the ability to tailor point values, incentives, and rewards to their specific market and competitive landscape. A reward worth 100 points at one community might be valued at only 25 at another.
Pederson noted that demand for loyalty programs has accelerated quickly. “Expectations aren’t suddenly shifting,” he said. “What’s changed is awareness. As more operators understand how these programs work, residents are beginning to expect them.”
