It is no secret that technology can help overcome the biggest challenges, and with the demand for tenant experience software on the rise, property owners are facing pressures to invest in these systems. Tenant-experience software platforms introduce a streamlined process for property owners and tenants alike to view an all-in-one user experience. Through these platforms, tenants can do anything from paying rent, booking onsite amenities and submitting maintenance requests, while owners can use the platform to access property data, monitor tenant satisfaction and evaluate space usage. The types of platforms available have increased dramatically over the last few years and Building Engines research .
shows that 52% of property teams are foreseeing investments in the technology. As this technology continues to rise, BOMA Fellow Becky Hanner, Commercial Real Estate Executive, Hanner Commercial Asset Services encourages property owners and managers to still hone in on their communication practices which will continue to serve at the forefront of delivering optimal service.
Read below to learn the three ways that property owners can boost efficiency with tenant-experience software:
Streamlined Communication and Issue Resolution
According to a source by Building Engines, about 63% of owners communicate through notifications via tenant app, which is likely to increase as property teams scramble to upgrade their technology. The demand for tenant-experience software platforms is introducing smarter and faster ways for property owners to streamline their communication methods with tenants. Platforms like HqO, Bengie and Equiem are just a few of the few top-rated apps for owners and tenants, according to SharpLaunch research . Each platform presents a unique approach to updating tenants with announcements or newsletters, all while offering a reduced administrative approach for management teams. In addition, other apps like MOBLZ are offering mobile service solutions for tenant engagement, by facilitating events like wellness seminars, educational luncheons and food truck and catering services in their parking lots. BOMA Fellow Becky Hanner is a partner of MOBLZ, and her work is another avenue for property managers to streamline insurance compliance and monitoring of mobile vendors all in one place.
These apps can solve some of the bigger communication roadblocks between vendors and owners. In Hanner’s presentation, “How to Develop a Partnership with Property Managers and Owners,” one of the biggest challenges vendors experience is connecting with property management teams. “Part of what I discuss in my presentation is to give vendors a better understanding for how to approach us, especially as it can be frustrating when we don’t return calls.” These apps, however, could present a solution for better maintaining these relationships by providing a simple to use communication hub.
Automated Processes and Data Analytics
A recent NAA survey sponsored by AppFolio found that operational inefficiencies are the second greatest challenge to the property management industry, with finding high quality vendors as the top challenge within the category. One of the many benefits of incorporating these tenant-experience technologies for property management teams is that it can automate daily administrative tasks, such as tracking rental income and expenses. This technology will not only help property management teams improve their overall efficiencies but will increase tenant satisfaction as a whole. In fact, according to the 2024 Capterra Tenant Experience Survey , they found that “73% of tenants strongly or somewhat agree that a property that features advanced technology would significantly influence their decision to sign a rental agreement.” These preferences could be due to many elements, such as the ease and convenience of online payment portals, enhanced security from smart locks, or smart energy management, which allows tenants the ability to monitor their utility costs and promote sustainable practices.
Enhanced Tenant Engagement and Satisfaction
As reported in Building Engines recent survey, 63% of property manager respondents are seeing an increase in communications via a tenant app, fast-tracking the advancement of digital tools within the tenant experience space. As more tenants continue to prefer the optionality of an all-in-one platform for paying rent, booking amenities and accessing building news, property managers need to keep pace with delivering the best services. And, while considering the best tenant experience software for their teams, property managers shouldn’t forget that at the end of the day, delivering optimal tenant service is top of mind amid these integrations.
As Hanner shared during her presentation about building these vendor/manager relationships, she emphasized the need for managers to communicate frequently and actively with tenants. “Producing quality work and responding in a timely manner is always important,” says Hanner. “If you can’t perform a certain task within your role, don’t be afraid to say so, because responding promptly is always integral to providing optimal tenant service.”
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