How Much Are You Willing to Invest in Tenant Satisfaction?
The era of tenant-driven decision making is here. Experts are predicting that the most important factors for asset managers and property owners in the next few years will be using data-driven decision making to maximize tenant experience. How you embrace these key trends will decide whether you beat out the competition, or fall behind. If tenant experience is what differentiates you, how can you make sure you manage your resources well enough to provide a great experience that remains affordable?
Analyze the Relationship between the Workload and your Capacity
Your teams need to have tenant satisfaction as their number one goal. AI can help you understand your teams and the time that you will need for a specific job or site, rather than relying on third-party vendors who may overestimate for their own gain. For example, rather than hiring a constant team of customer support staff who end up overworked when something goes wrong, and manning a quiet support desk at other times, use AI to analyze the true relationship between the service calls or tickets and the capacity you need. This can help you accurately use your teams efficiently, using your available resources in a smart way.
With smart notifications sent to the right employee at the right time, your staff aren’t skipping urgent items on a to-do list, waiting for someone more skilled to come along and take it off their plate. Each member of staff knows exactly what they should be doing, and can work outside of crisis mode and out from the weight of an endless sea of tickets. In turn, tenants are not left waiting for response or completion, utilizing your various teams to delight where it matters most.
Utilizing AI can also help you avoid the kinds of internal bias that the Wall Street Journal explains are a challenge of relying on human insight alone. Managers that rely on their own opinion for how much staff they need at a particular time could fall into patterns of confirmation bias or making decisions based on their intuition rather than the facts in front of them, letting down tenants with mismanaged resources in a crisis.
Use Data to your Advantage
Historical data can allow you to compare desired behaviors or experiences against any past period, such as analyzing breakdown costs annually across seasons to scale up or down in preparation for a busy time, or spotting spikes in usage that could point to misuse. Higher rates of occupancy could alert you to the need for more cleaning support or contractors on hand, or even prompt you to think about expansion.
One trend to look out for in 2019 is service-based offerings. 63% of attendees at a recent RealComm conference agreed technology that helps improve the occupant experience will impact them the most next year. An example could be noting that complains rise during a snowfall, and utilizing resources to grit the communal areas in advance or shovel snow to allow access. By using your own data in a smart way, you can work on changes that support lease optimization, filling up empty homes, and encouraging tenant retention and satisfaction.
Identify Trends and Predictive Insight
Today, Big Data allows you to prepare in advance, allowing your staff to provide optimum tenant experience, even in previously unpredictable situations. As well as historical baselines, predictive analytics can help you accurately assign resources to a given time or building, knowing in advance that you’re going to experience a hectic or a quiet period. These insights can come from a wide range of sources, from cutting-edge technology like building sensors, to something as simple as weather data or IoT devices. Surges in usage could point to imminent breakdowns, while tracking the lifecycle of machines could show you where preemptive maintenance hours should go. For customer support or experience teams, weather data could allow you to act ahead of a snowstorm or a cold snap, ensuring adequate heating is provisioned before the temperature drops.
Data analysis can also help you accurately assign schedules and teams for projects such as extending a property or refitting new appliances. Human intuition can only suppose how much time to add on to a vendor’s quote to account for error or external delay. In contrast, AI can use data to guarantee with high reliability a scope for the project, not only in time, but in cost, and HR, too. Most importantly? Giving your tenants an accurate estimate will limit their frustration in terms of disruption or noise.
Revolutionize Your Level of Services with Operational Insight
Tenant satisfaction is directly linked to your ability to manage your resources effectively. With the help of Artificial Intelligence, your building teams can support the overall business strategy of improving tenant experience at the same time as optimizing their operations on the ground. With more efficient planning and response, staff can pre-empt tenant complaints, remove the surfeit of tickets waiting on your operational to-do list, and stay ahead of the competition in achieving optimum tenant satisfaction.
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