Rewards
Boosting Resident Retention With a Smarter Rewards Strategy
Not all reward programs are built equal—discover how Domuso improves resident retention and boosts property KPIs with a smarter rewards program.
Not all reward programs are built equal—discover how Domuso improves resident retention and boosts property KPIs with a smarter rewards program.
.svg)
Not all reward programs are built equal—discover how Domuso improves resident retention and boosts property KPIs with a smarter rewards program.
Not all reward programs are built equal—discover how Domuso improves resident retention and boosts property KPIs with a smarter rewards program.
Resident reward programs are becoming a strategic tool for improving retention, but not all are designed to drive real results. The most effective programs influence the behaviors that lead to lease renewals and stronger resident relationships.
Resident retention remains one of the most reliable ways to strengthen property performance. Fewer turnovers mean lower costs, steadier occupancy, and more predictable revenue. During budget season, retention becomes even more critical as operators forecast income, plan for staffing and expenses, and set goals for the year ahead.
That’s why leading property teams are turning to resident reward programs that are purpose-built to improve property performance. With smart incentives and consistent engagement, these programs help build loyalty, encourage early renewals, and support long-term occupancy.
The cost of turnover is high. Industry data shows that replacing a single resident can cost anywhere from $1,000 to $5,000 per unit when factoring in vacancy loss, marketing, and make-ready expenses.
Domuso’s client data shows that residents enrolled in Domuso Rewards are 17% more likely to renew their lease. That lift translates into stronger occupancy rates and fewer dollars lost to avoidable churn.
The connection between rewards and renewals is backed by resident insight too, with 60% of residents saying they would renew early if incentivized to do so.
When you reward renewal behavior, you make retention part of the everyday resident experience.
1. Reinforces the Right Habits
Rewarding residents for early renewals, on-time payments, and ongoing engagement creates a positive feedback loop. Over time, these incentives reinforce habits that benefit both the residents and the property.
2. Recognizes and Retains Long-Term Residents
People stay where they feel recognized. A consistent reward structure shows residents their loyalty is valued, not just at move-in or renewal, but month after month. That ongoing recognition builds trust and strengthens the resident-property relationship.
3. Encourages Ongoing Engagement Through Progress
People are motivated by a sense of progress. When residents can see their points grow and unlock new benefits, they’re more likely to stay engaged. That ongoing engagement increases the chances they’ll take loyalty-driving actions like renewing early or providing feedback.
4. Delivers High Perceived Value Without High Costs
Residents often perceive rewards points and status milestones as more meaningful than one-time discounts. That perceived value drives positive behavior and because Domuso fully-funds the rewards program, properties gain all the upside without reducing baseline rent or NOI.
5. Influences Leasing Decisions
Reward programs shape how residents think about where they live. Just like airline or hotel loyalty programs, they tap into a sense of belonging and benefit. In Domuso’s 2025 Resident Survey, 90% of residents said they’d choose a community with a rewards program over one without — making it a powerful differentiator in a competitive market.
Many reward programs are built for short-term perks, but Domuso Rewards is designed to deliver long-term performance by improving resident retention through consistent recognition, smart incentives, and stronger resident relationships.
When residents feel rewarded, they’re more likely to stay. And when they stay, your property wins.
Schedule a quick demo to learn how the platform supports on-time payments and improves portfolio performance: www.domuso.com/demo-request
Q1: Why is resident retention important for multifamily property performance?
A: Resident retention is important because high retention lowers turnover costs (vacancy, marketing, make-readies), stabilizes occupancy, and makes revenue more predictable.
Q2: How much more likely are residents to renew when enrolled in Domuso Rewards?
A: Domuso client data shows that residents enrolled in Domuso Rewards are about 17% more likely to renew their lease.
Q3: What percentage of residents say they’d renew early if given an incentive?
A: In Domuso’s 2025 Resident Survey, 60% of residents said they would renew their lease early if they were incentivized to do so.
Q4: What behaviors or habits do rewards programs reinforce to improve retention?
A: Effective programs reward on-time payments, early renewals, ongoing resident engagement, and consistent recognition, creating positive feedback loops and building loyalty.
Q5: How do reward programs provide value without hurting property income or NOI?
A: Domuso fully funds the rewards program, delivering perceived value via points rather than discounting rent. This means perks don’t reduce baseline rent or NOI but still influence resident behavior.
Q6: How do reward programs influence leasing decisions for prospective residents?
A: In Domuso’s 2025 Resident Survey, 90% said they’d choose a community with a rewards program over one without. This makes rewards a strong competitive differentiator.
Q7: What features make a rewards strategy “smart” or “purpose-built” for retention?
A: A smart rewards strategy consistently recognizes loyalty over time; uses incentives for renewal and on-time payment; shows progress via points; keeps residents engaged; aligns rewards with KPIs like occupancy and retention.
Q8: Can reward programs really reduce avoidable churn and vacancy loss?
A: Yes. By boosting renewal rates among enrolled residents (improving retention by ~17%) and encouraging early renewals, reward programs reduce turnover costs and vacancy loss, thereby reducing avoidable churn.
Domuso helps multifamily properties accelerate cash flow and enhance resident loyalty with a world-class digital payments platform and resident rewards. We provide unmatched portfolio intelligence with views into payment trends and resident behavior to help improve property performance, all through a seamless and fully integrated experience.
