Tenant experience is an important metric to understand when it comes to property and facilities management – it describes how your tenants interact with the properties they live in. The quality of these interactions along with the amenities you offer can have a major impact on your ROI.
While a positive tenant experience will boost your property retention rates and lifetime value, a negative one will do the opposite.
Therefore, it’s important to understand how you can improve the tenant experience, especially now that there is so much technology at your fingertips to streamline nearly all day-to-day property management processes.
Great engagement is the bedrock of tenant experience. Whether you want to organise a seasonal event, schedule a maintenance check, announce a fire drill, etc. or anything else, keeping your tenants informed is the key to great community engagement.
When tenants feel engaged in their community, they tend to attach a lot more positive value to the experience. This is beneficial for both parties, really – tenants enjoy a fantastic sense of belonging while landlords and facilities managers enjoy a higher tenant retention rate across their portfolio.
More engaged tenants are happier tenants, which will also make them more likely to pay for additional/premium services and amenities.
Communicating regularly with your tenants is one of the keys to creating a great tenant experience. However, this is rarely done right – with all the emails, SMS messages and WhatsApp groups.
The most effective way to communicate is to consolidate all messaging into a single-service platform, where tenants can simply ‘tap’ into a single intuitive source of information, instead of shuffling back and forth between different messages on different platforms.
Software and apps exist which let you get very selective and take a targeted approach to communication; allowing you, for example, to decide who receives what, so that tenants don’t get messages or are asked to respond to something that isn’t relevant to them.
In the midst of checking emails, pushing projects toward completion and drowning in a bundle of paperwork, it can be easy to lose touch with the more productive aspects of your work.
For example, aspects like boosting ROI and profitability, or ensuring that you are delivering the best experience possible to your tenants. An easy and simple-to-use platform which helps to streamline, say, your issue reporting – can dramatically improve the satisfaction level for both you and your tenants – helping you quickly resolve issues with fire alarms, water heaters, malfunctioning radiators, and more.
Moreover, the platform can help you quickly access important documents like H&S protocols so that you don’t have to rely on hard copies, making document management a lot easier.
Nearly all property managers are using some kind of platform, system, software or app to streamline day-to-day property management processes and improve tenant satisfaction.
From maintenance requests and rent collection to generator maintenance reports and fire alarm activation reports to compliance and repairs and decoration works – The Inspection Manager is your property management companion, helping you do a lot more in less time.
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Today’s facility managers find themselves in the midst of many challenges, including regulatory and compliance hurdles, resource scarcity, and burnout. Resource constraints, for example, which affect time management, materials delivery, and budget planning, pose major obstacles, all the while demanding highly prudent allocation without operational efficiency taking a hit.
Technology is rapidly expanding into all spheres of life, and this is especially true of industries. In the property management sector, for instance, one is surrounded by disruptive technology which is improving ‘quality of life’ for not only property and facility managers but also tenants.
The property and real estate sector has traditionally been associated with stacks of paperwork, manual documentation, and physical blueprints. However, all that is changing quickly as the idea of paperless building operations is steadily gaining momentum.
If we go back a few years, the property management sector was a bit slow to adopt new changes, especially those revolving around technology and automation. But in the present day, it has taken a dramatic step forward.
In a 2021 survey where 2,000 UK adults were surveyed who had rented a home over the last 5 years – 66% of them had experienced some kind of disrepair issue, while 26% of Housing Association Properties tenants were not happy with the quality of repair and maintenance during their stay.
Everyone wants nothing more than to have secure, safe, and decent housing. Unfortunately, the housing supply in the UK has been unable to keep up with the surge in demand over the last couple of years. This has made accessing housing of any kind rather difficult for individuals and families alike, especially those from low-income households.
If you recall the government’s 2019 election manifestos, all the main parties committed to boost housing supply in England. The Conservative manifesto, in fact, pledged that the number of homes being built will continue to increase, targeting at least 300,000 affordable homes by the middle of 2020.
The property management industry has been traditionally shy and somewhat hesitant to embrace new technological trends. The word “automation” would make everyone from real estate agents to property managers cringe with disapproval – as if impending doom and job insecurity was right around the corner.
Data standardisation refers to using consistent methods for collecting data, although this is a very basic and somewhat generic description of what it truly is. If we delve in deeper, data standardisation is the process used for transforming data to fit a constrained and predefined set of values – ultimately, relying on uniformity to improve efficiencies.
Data standardisation refers to using consistent methods for collecting data, although this is a very basic and somewhat generic description of what it truly is. If we delve in deeper, data standardisation is the process used for transforming data to fit a constrained and predefined set of values – ultimately, relying on uniformity to improve efficiencies.
