Digitalisation in real estate has not been as rapid as in many other sectors. Even the traditionally more old-fashioned banking and insurance sectors have long since overtaken real estate. According to a brand new Danish Proptech report 2023, 55% of the real estate companies are still steering blind - without having a digital strategy in place.
The digitalisation of the sector is now urgent and a pure necessity. But why exactly?
Apart from the elderly, people are used to receiving and consuming services digitally. Why would they want to manage their housing in the old-fashioned way? The youngest people moving into their own homes are digital natives, and are as surprised by the lack of digital tools as if they had to fetch water from a well. Thus digitalisation is an integral part of tenant satisfaction.
Digital tools and channels are the preferred way for people to receive services. Digitalisation enables self-service, faster handling of issues, transparent communication, and the ability to store and share information to improve efficiency. It makes life easier, for everyone.
A modern, fast and excellent service increases tenant satisfaction – all while being fully dependent on digitalisation. Digital tools also play an important role in improving tenant retention through community building, as well as in building resilient and sustainable residential properties that meet today's standards.
By exceeding what today's tenants expect, you take tenant satisfaction to a new level. You'll make the experience of living in a rental apartment feel more like home, and raise the threshold for moving out. This is how you increase your Tenant Lifetime Value – at best, you'll get Lifetime Tenants – and needless to say, this will have a positive impact on your ROI.
While our Happy Tenants Guide Part 2 was dedicated to the ROI of tenant satisfaction, in the new Improving ROI with a digital solution -guide we continue with how digital tools are a tangible key to building better and longer tenancies, and achieving better ROI.
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