Tenant experience, as we know it, is 'the experience of living or working in a building where you are a tenant'. In 2023, it continues to gain a deeper and wider meaning with the real estate industry becoming more and more customer-oriented.
Today, property operators recognize the crucial role of tenant satisfaction and engagement in the success of their buildings. Let's explore the key elements shaping tenant experience and how they are revolutionizing the industry.
01 Personalization and Customer-Centricity: Catering to Unique Tenant Needs
“The framework for the future of real estate must be people-centric. Great places tell great stories, because they are made for and are all about people,” says Dragana Marina from CBRE.
One size no longer fits all when it comes to tenant experience. In 2023, the property world is embracing personalization to meet the diverse needs and preferences of individual tenants. Leveraging advanced technology and data insights, they are tailoring amenities, services, and communication channels to create unforgettable experiences. Tenants feel more valued and empowered when the space is serving their needs and demands.
02 Technology Integration: Empowering Tenants with Smart Solutions
“The point is not to miss the competitive advantage in the industry with digitalization already coming to the market in the past decade,” says Jan Baxa from CA Immo.
In 2023, tenants enjoy a mix of digital tools and services that enhance convenience, connectivity, and control. With integrated building technologies getting more and more widespread, tenants are able to reserve amenities and spaces, access digital keys, automate maintenance requests, report feedback and suggestions to the space managers, see utility spendings, and more. This brings the overall building experience to a new, more elevated level.
03 Community and Engagement: Building Vibrant Connections
“Real estate is more than just a space – it is a place where people live, work, and come together. The key to great experience is to provide an area that fosters community and engagement, to offer selected amenities and services, and to create a place where tech and people are seamlessly connected,” says Daniel Bauer from Swiss Life Asset Management.
Property operators now acknowledge the significance of fostering a vibrant and connected community. Today's buildings are designed to encourage social interactions and build a sense of belonging.
Collaborative workspaces, shared amenities, and communal areas serve as catalysts for organic connections among tenants. Property managers organize community events and networking opportunities, facilitating interactions and creating a dynamic environment. By nurturing a strong community, tenant experience flourishes with shared experiences, collaboration, and a deeper sense of community.
04 Health and Wellbeing: Prioritizing Tenant Wellness
“The industry has been conservative for many years. There has been a tendency to put asset profitability before the residents. We always put the customer first and provide value-adding services to enrich tenants' lives,'' says Morten Nielsen from NREP.
In the wake of the global health crisis, the focus on tenant well-being has gained further prominence. Today, property operators are implementing measures to support tenants' physical and mental health. Fitness facilities, wellness programs, and outdoor spaces encourage an active lifestyle and foster a healthy work-life balance.
Additionally, properties are embracing sustainable practices, incorporating green spaces, and optimizing indoor air quality to create healthier environments. By prioritizing health and wellness, landlords enhance tenant satisfaction and contribute to their overall quality of life.
05 Seamless Services: Elevating Convenience
“We strongly believe in a consistent dialogue with our tenants, supported by innovative tools that support our community framework,'' says Dimitri Huygen from Xior Student Housing.
Bringing seamless and hassle-free services is key to creating distinguished experiences in buildings. In today's buildings, property operators implement streamlined communication channels, efficient maintenance processes, and responsive customer support.
Tenants can easily report maintenance issues, receive timely updates, and access support through digital platforms. The goal is to anticipate and address tenants' needs promptly, ensuring their experience is smooth and enjoyable throughout their stay.
Watch the RExperience event recording where we discover tenant experience case studies presented by the quoted property professionals in this article, and so much more!