Google released a new study which speaks to the tenant-landlord relationship. The question asked was: “What’s most important when booking travel?” … but the same answers apply to being a great landlord or property manager.
What did Google find as most important?
- 60% said Customer Service (not lowest price)
- 55% said easy-to-use website
- 50% said Online Reviews
Apparently, there are 2 types of loyalty: Attitudinal & Behavioral
Attitudinal Loyalty is what people claim to feel about a company. Behavioral Loyalty is about what customers actually do & where they spend their money.
So what’s the return on investment of a happy tenant?
- A happy tenant will submit positive online reviews. 82% of people trust online reviews more than friends. (Attitudinal loyalty!)
- A happy tenant will refer their friends and family. (Attitudinal loyalty!)
- A happy tenant will renew their lease. (Behavioral loyalty!)
- A happy tenant – if moving away – will leave your unit cleaner & less-damaged. (Behavioral loyalty!)
Want to find out how you are doing?
How your “run” your property as a landlord will impact your tenant’s behavior and loyalty. Our Tenant-Campaign will establish a tenant-score based on three spheres: People, Process, and Product.
- Do your People have positive interactions with the tenants? Are they caring? Do they communicate?
- Does your business Process give tenants confidence? Peace-of-mind?
- Is your Product (your physical units) well-maintained? Is it what the tenant expected?