According to a global tenant survey, tenants rated building management the highest among technology services and physical amenities for better tenant satisfaction. Tenants look for better management above accessible amenities and convenient leasing experiences. If you are falling behind, you need to gear up and improve your property management software for better tenant satisfaction and, in turn, tenant retention.
Today, around 65% of young adults are renting properties which makes tenant satisfaction a key factor for your property management business. If you’re trying to improve your tenant retention rates by implementing new tools and technology for a better tenant satisfaction, you may get a better idea of how to enhance tenant satisfaction here.
Why is tenant satisfaction important?
Tenants propel the property management business, and if tenants are not satisfied with their stay on your properties, it’s something to ponder. Scaling your business can only be possible when there are higher tenant satisfaction rates.
You may have the best property management software with all the latest features, but if you fail to respond to your tenants on time or do not meet their needs, it’s time to re-think your objectives and improve your process for more tenants in the future. Keeping your tenants on top is what makes your business thrive.
Ways to improve tenant satisfaction
Property management software are a boon to property managers. But not always do they help you retain tenants for a long term. If you’re looking to improve your overall property management, here are some of the ways you can better tenant satisfaction rates through property management software:
1. Give ready access to facilities
Properties with all the necessary amenities attract tenants. When the tenants can use the amenities such as party halls by making bookings instantly, it builds trust. But, if the access to the facilities comes with constraints, it leads to client dissatisfaction and eventually vacant units.
When you allow tenants to use amenities, ensure there is a smooth process of making reservations. Technical glitches can hinder the process of booking slots and may lead to frustration, so verify if your property management software is up and running at all times, so that it is easy for the tenants.
2. Respond to queries quickly
Implementing a communication channel or adding answers to commonly asked questions can quickly solve tenant queries. You don’t have to be there every time there is an issue. Ease the process with the help of chatbots or automated responses so that their waiting time is reduced.
Effective communication is key to retaining and getting future tenants. Responding and solving queries are two different things, and understanding tenant needs crucial to tenant satisfaction. If you have software that responds but doesn’t solve the problem, you need to consider a better solution.
3. Track maintenance/repair orders
A regular status update is important when maintenance or repairs is going on. You need to update the status at every step so that tenants don’t have to keep track of it every second. Any repair orders in their house should be met instantly, and even if there is a delay, you should update them about the status. Tenants rated communication of major upgrade requirements the highest when it comes to building administration of the property.
Property management software should allow tenants to submit maintenance orders instantly and reduce response times for efficient management. It will also lead to higher tenant satisfaction rates when responses are quick and when there is a smooth flow of submitting orders.
4. Respond round the clock
Implement systems where you would be able to respond to your tenants day and night. You never know the kind of problems that might arise late at night. Employ staff who work in shifts and ensure all your systems are operating fine so that the tenants don’t get frustrated while reaching out to you.
Sometimes, the problems need to be addressed by the management at odd hours, and it cannot be done by tenants alone. As a part of your business, this is something to keep in mind for better tenant satisfaction.
5. Keep the properties updated
Having property management software is not enough; you need to keep your properties updated too. Follow the latest trends in the property management space and try to implement them soon to stay reliable for tenants who reside for a long term. Revamp your digital systems and add a new look for a better user experience.
Make the systems more intuitive and ensure all the resources are present so that the tenants can check back to learn about the properties when needed and not depend on property managers every time. Always update your software for better tenant satisfaction.
6. Tie up with small businesses
This is a great way to improve tenant satisfaction as you’ll be beyond offering them the property of their choice. You can tie up with local businesses such as groceries and essentials to provide the best to your tenants.
You can also integrate the systems so that your tenants can order from their mobile devices. Partnering with other small businesses that you think may help residents every day can lead to better tenant satisfaction and, in turn, retention.
7. Get regular feedback
Getting feedback from both happy and dissatisfied tenants can help in many ways. You can know the areas where you need to work on and make changes accordingly. Keeping track of every issue can be overwhelming, but you can automate certain processes and offer tenants the best services.
Survey your tenants and keep notes on what they like about the property and what they don’t. Improve on them to keep your property management business profitable. You can do that by defining KPI to measure tenant satisfaction and hence retention.
8. Build a better user experience
Updating your systems is a great way to keep your tenants happy, but you also need to work on the user experience of your digital systems. Having the right user journey where there’s a flow from the start to the end makes it a good design.
Empathize with your tenants and understand what challenges they are facing and try to meet their needs by changing your applications time and again. Keep the tenant portals updated to stay on top of industry trends and to serve tenants better. The only thing that helps build a better tenant experience is to empathize and find solutions to current problems.
Elevate tenant satisfaction with Assetsoft
Integrate property management software to transform your business and serve the best to your tenants. Assetsoft can help you automate all your property management processes so that you can track and be there for your tenants at all times.
Our experienced team can help you with the integration, support, and maintenance of the systems so that you no longer have to worry about dealing with the technical issues of the software. Instead, you can focus more on providing the best service to your tenants and build a relationship with them for their retention.
Assetsoft can tailor the software to your property needs and choose the right strategy to implement it for your business.
Update your property management software and improve tenant satisfaction with Assetsoft!