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How to Improve Tenant Retention with Piñata and Latchel

Ethan Lieber
April 4, 2024

According to the 2024 Buildium State of the Industry Report, resident retention is one of the top challenges property managers are facing. One of the most effective and lucrative ways to improve your resident retention is by leveraging a resident benefit package.

A resident benefit package is an additional charge to the resident included on new leases that will give the resident access to a bundle of perks and services. Resident benefit packages are designed to elevate your tenants’ rental experience while creating a competitive advantage and new revenue stream for property managers.

At Latchel, we offer fully optional resident benefits as a way to create a steady ancillary income stream, in a market where rent prices have stalled and new laws make it tougher to increase mandatory fees.

Latchel offers a full benefits marketplace with wonderful partners that allow you to create the best benefits package for you, your operation, your demographic, and your business.

In this blog, we dive deeper into our partnership with Piñata, one of our benefits marketplace offerings, and how it can both deliver happy residents and a healthy bottom line for your business.

What is Piñata?

The idea behind Piñata is simple. Piñata is a rent loyalty program. You’re probably familiar with loyalty programs, whether it’s your local sandwich shop, Starbucks, or your favorite air miles or hotel program. Piñata is like that, but for on-time, rent payments. Every time a resident pays on time, that action is rewarded with points that can be used on amazing gifts that are sent to a resident’s home, framed as coming from you (the landlord or property manager), and each on-time payment is reported to the bureaus to build a residence credit.


Piñata is an integrated program that is driving the behaviors that matter most to you and your business, but along the way, you’re bringing surprise and delight to the renter and landlord relationship. Countless property management professionals utilizing Piñata have expressed the massive positive change since implementing this rewards program.

The Piñata program will transform your relationship and differentiate your offering. It’s really that simple. Renters redeem points for good behavior and that good behavior drives your business forward.

Every time renters pay on time, they receive points and can choose how to redeem it. That means gift cards that put money back in their pockets on everyday expenses like gas, groceries, pharma, baby pets, home decor and more. Piñata works with Amazon, Target, Starbucks, Walmart, Sephora, Best Buy, you name it. Piñata also offers home items. These are items that are shipped straight to the resident’s door with a note framing it as coming from you, the landlord and property manager.

Lastly, points can be redeemed for raffle tickets. It’s incredible when residents pay rent, spend their points on a raffle ticket and all of a sudden, they’ve got a big screen TV just in time for the Super Bowl or a brand new barbecue in time for the summer. That’s another part of the Rent Rewards program, which is delivering monthly surprise and delight.

How Piñata is Creating Long-Term Financial Help for Residents

Piñata is all about long-term financial health where they report residents to all three bureaus that can easily be turned on in the app. TransUnion and Equifax are part of the program. Experian is a bonus residents can turn on. All the resident has to do is pay rent on time. Piñata and Latchel will ensure that the information is captured, transformed, and Piñata will take care of all customer support, questions and renter education.


Piñata has seen a 50 point average boost in the first three months alone and over the course of a lease, they can see a 100 point increase just for paying rent on time, no debt. This is a really powerful offering that involves short-term and long-term benefits.

Pinata is trusted by 1500 property management companies and landlords and has served over a million renters nationwide.

Why do Rent Rewards Matter?

More and more we’re seeing that renters are looking for extra value and this is the best way to deliver it because if you have a powerful program already in place through Latchel that takes care of all maintenance needs and is building renter satisfaction, hopefully maintenance isn’t something that’s happening once a month.

Rent payment and the rewards and credit building benefits are happening every month and this becomes a touchpoint that your renters are loving and that’s reminding them of the benefit they get from living with you. We do see that when renters get rewards, you’re seeing a higher lifetime value in terms of referrals, online reviews and early renewals.


In addition, we’re seeing increased loyalty, positive engagement, and easy retention. And we do see from Piñata’s landlord customers that as rents start moving up, this is what renters are looking for – something to differentiate the experience and drive extra value with every monthly payment. Landlords love Piñata because they are able to deliver the behaviors they want to see: on time rent payments. But with Piñata, you can also customize many other things like lease renewals and event attendance.

Renters love Piñata because they’re doing something that they have to do anyway, but now they’re getting extra appreciation and celebration for that and it’s coming from their property manager. They’re getting an average of $120 in annual benefits and that’s if they just redeem their points every month. This does not even include any big winnings from any of the raffles or any of the Friday drops where they can get discounted gift cards and other exciting experiences.

Millions of rewards are granted to renters over the Piñata network and they’ll see about a 50 point credit score increase in the first three months alone. Piñata has also seen over a hundred points over the course of a lease and are seeing hyper-focused, really positive engagement. Piñata has seen that 50 to 70% of their users are coming into the app or going to the Piñata site for web experience, redeeming rewards, getting credit education, checking their score and more over every month.

Renters and landlords love Piñata and you’ll love the experience that you’re able to deliver and the results this can drive.

Piñata’s rewards are ones that matter in a renter’s everyday lives. When someone’s using a waffle maker, new wine glasses, delicious chai super latte mix, or their big screen tv, they’re reminded that they got this because they live with you. These are rewards they’re going to use in their homes. These are rewards they’re going to use in their daily lives, in their everyday expenditures. Whether it’s gas, groceries, pharma, or family, these are aspirational big ticket items that are on everybody’s wishlist and that will give you a huge boost in satisfaction and loyalty when one of those arrive on their door.

Increase Your Bottom Line with Piñata

To sum it all up, Piñata will help you drive renter behavior and that will drive your bottom line. Piñata has seen up to 73% of renters engaged every month, coming in and actively looking for ways to earn more points. They’ve seen a 10% increase in the number of units paying rent on time in the first couple of months after implementing Piñata. They’ve almost a 20% increase in the number of positive, 4-5 star Google reviews and an increase in credit scores.

The reports Piñata provides can really show you the ESG impact you’re having when it comes to either your corporate social responsibility reports, reports to owners and reports back to your renters.

Get Started with Piñata

Ready to level up your tenant experience with Piñata? Click here to request a meeting with one of their product specialists.

And if you want to learn more about Latchel’s optional resident benefits and how we can help pad your margins while enhancing your resident experience, click here to request a demo.



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Unlock the Potential of Digital Insurance
Launch a tailored renter's insurance program

Sure provides tailored renter’s insurance that enables property managers, owners, and residents to protect their property, minimize risk, and experience the peace of mind that comes with the protection of your assets and business.

Most leases require renters insurance. So, we’ve partnered with Sure to provide that option for your residents. While residents aren’t required to use Sure to meet the renter’s insurance requirement, this is still a convenient option you can offer to your tenants. 

All services and products are provided by Sure, not Latchel subject to Sure’s terms and conditions.

Property Inspection Platform
Automate and Organize Inspections with RentCheck

Make Inspections Easier
RentCheck saves time by enabling residents to complete inspections on their own. Customization and automation ensure the job gets done.


Stop Wasting Time
Schedule inspections for all stages of the lease cycle at any cadence you choose. RentCheck handles the reminders.


Instantly Submit Work Orders
Take advantage of Latchel's integration with RentCheck to instantly submit a work order for any maintenance issues that pop up on an inspection.


Modernize Your Process
Easily compare new and existing inspection reports, side-by-side, and avoid security deposit disputes.


Prompt Routine Filter Changes and Resident Tasks
Schedule resident reminders to replace filters and other upkeep tasks over the course of the lease lifecycle.

To learn more about RentCheck, talk with a Latchel benefits expert today. All services and products are provided by RentCheck, not Latchel, and subject to RentCheck’s terms and conditions.

Affordable Pest Control

Access world class pest control for a fraction of the normal price. No need for new software or a complicated setup.


Easy Pest Control
Residents simply reach out to Cover Pest if there is a pest issue, and Cover Pest takes it from there.


Clarity on Who Pays the Bill
No more awkward conversations about who is responsible for the bill! With Cover Pest as a resident benefit, residents get pest control for covered pests without an additional cost.


Vendor Sourcing
No more sourcing for vendors! Cover Pest will source and coordinate with vendors for each pest control request

To learn more about Cover Pest, talk to a Latchel benefits specialist today.  All services and products are provided by Cover Pest, not Latchel, and subject to Cover Pest’s terms and conditions.

Air Filter Delivery Subscription

FilterTime is an air filter delivery service that makes it easy and convenient for residents to replace their air filters. FilterTime customers can protect their HVAC system, reduce dust and pollen, save money on energy costs, and more by leveraging this delivery service.


Reduce Labor for HVAC Issues
Filter delivery service results in a 38% reduction of total HVAC ticket requests.


Cost Savings on HVAC Repairs
Average HVAC repair costs have increased by 48.7% year over year. an air filter delivery subscription can cut costs up to $250-300 per property per year.


Energy Reduction
Filter delivery is saving residents $14.82 per month in energy costs.

How it works:

Choose from almost every size and type of air filter including custom-made sizes

Choose how often you want your filters delivered


 A box of brand new air filters delivered to your resident’s front door

To learn more about FilterTime, talk with a Latchel benefits specialist today. All services and products are provided by FilterTime, not Latchel subject to FilterTime’s terms and conditions.

Boost resident satisfaction and drive good resident behavior through a rewards, incentives, and credit building program

Drive On-Time Rent Payments
Piñata rewards renters for on-time rent payments through Piñata cash, and boosts renter's credit scores for online payments.


Boost Resident Satisfaction
$30 gift card to use at select brands and businesses, $25 restaurant card, 720 annual Piñata Cash to use on rewards, Early lease renewal gift.


Attract and Retain Renters
2 out of 3 renters prefer properties with rent reporting. Plus, residents get incentives for early lease renewals.


Rewards Residents Love
Residents can use Piñata Cash on brands they know and love, such as: Starbucks, Amazon, Sephora, Lego, Target, Walmart, Home Depot, Lowes, Doordash, Best Buy, and many more!

Piñata Cash

Residents easily earn Piñata Cash any day of the month by doing things like taking surveys, referring friends, or trying out new products.

Residents also get access to big-ticket giveaways, limited drops and super surges!

And, with exclusive access to our marketplace with over 300,000 deals, residents can squirrel away up to $4,500 annually.

To learn more about Piñata, talk with a member of our benefits team today. All services and products are provided by Piñata, not Latchel subject to Piñata’s terms and conditions.

Master Liability Insurance

Now you have one less thing to worry about with a Master Liability Policy through Obie.


Affordable Coverage
Affordable policies available with liability coverage starting at $100,000 and up to $300,000 to meet any property manager insurance requirements.


Stay 100% Compliant
Master policy provides $100,000 for management companies and owners by ensuring 100% of occupied homes and units are covered for property damage liability issues relating to resident negligence.


Peace of Mind
Liability coverages include perils such as fire, smoke, water, explosion, overflow of sewer, and many others that provide coverage for damages you (the resident) may cause to your unit or home


Personal Liability
Personal liability coverage is automatically include to protect you against claims where you may be considered legally liable. (Bodily injury claims, dog bite claims, and more)


Additional Coverages
Additional/expanded coverages are also available. (Pet damage, identity fraud, theft/vandalism, and more are available!)

All services and products are provided through Obie and are subject to Obie’s terms and conditions.

👋 Join us for a special webinar Thursday, January 11th