Together with our tenants, we want to create an environment in which they feel at home. The satisfaction surveys are a valuable indicator for us and we use the outcome to improve our services and homes. Once a year, we measure our tenant satisfaction through a benchmark survey conducted by Customeyes. We participate in this survey with other institutional investors in the Netherlands. The Customeyes data consists of a representative sample drawn from all Vesteda’s tenants. We share the results of this survey with our tenants and employees. Together with the Vesteda Management Board, all managers involved evaluate the results to identify any potential improvements.
In April 2020, we insourced the property management of the remainder of the Delta Lloyd portfolio. The satisfaction scores of these tenants are included in this year's outcome.
Benchmark tenant satisfaction
The score for overall tenant satisfaction is comparable to the Net Promoter Score. The Net Promoter Score is a method used to measure client loyalty. Our current tenant satisfaction score is 7.1, an improvement on our score in 2019 (6.9) and above the benchmark (7.0). We believe this is a great achievement in such a tumultuous year, with COVID-19, the insourcing of the Delta Lloyd portfolio and the implementation of the new ERP system. We believe that the improved score, also during the prior years, reflects the importance of in-house property management as part of our business model and the need to gather direct feedback from our tenants to make them an integral part of our business model.
The Customeyes benchmark provides us with detailed information on how our tenants experience our homes, the living environment and our service levels. We continue to focus on improving tenant satisfaction based on the information from this survey. Our goal is to outperform the benchmark every year.
Monitoring of services
In addition to the annual benchmark survey, we monitor our daily services and the contact with our tenants. Our Operations department is in daily contact with our tenants, managing the intake of new tenants, repair and maintenance requests, and the handling of complaints. We analyse and share the results of the customer surveys within our organisation to increase company-wide awareness of the importance of tenant satisfaction, and we provide the insights they need to make any necessary improvements.
After the completion of a repair request, complaint procedure or new tenant intake, an external provider sends a questionnaire to tenants to evaluate our services. We have incorporated the targets specified in the table below in our performance cycle as KPIs and they have an impact on employee evaluations. The dashboard we use makes it possible to see results in real time, which enables us to take immediate action if necessary.
In April 2020, we switched from Client Contact Monitor to Tevreden.nl and in June we implemented the new ERP system. This new system will enable us to automate the daily monitoring process, which will reduce manual work and error margins. Unfortunately, we experienced some technical problems after the implementation of the new ERP system, which meant we were unable to send out surveys. As a result, no surveys were sent out for the intake of new tenants and repair requests from 1 June. Using a manual workaround, we did send out complaints surveys through to mid-October.
Scores vs. targets (out of 10)
January - March
April and further*
Intake new tenants
* Due to technical problems, surveys for the intake of new tenants and repair requests were collected until 1 June and surveys for complaint handling were collected until mid-October.
Survey on the impact of COVID-19
In a survey we conducted in October 2020, about 1,100 tenants provided Vesteda with insights into their experiences with respect to their homes and living environments since the outbreak of COVID-19. A large proportion of tenants indicated they did not miss anything in their home or their surroundings. One worrying outcome was that 19% reported a decline in household income.
Although the majority of our tenants do not have issues with neighbours, they do report cases of nuisance, mostly with respect to noise. The fact that people are now spending more time at home means that many are experiencing this nuisance for the first time, or more intensely than before. The reported cases of nuisance were not limited to neighbours, as they also included the state of our tenants’ homes or their living environments.
We are pleased to report that many tenants indicate that they are happy with their homes and their living environment, as they recognise more than ever the importance of a safe place and a pleasant living environment. Gardens or balconies and nearby grocery stores are especially appreciated. The number of aspects that tenants appreciated was 1.6 times higher than the number of aspects they missed. We see this outcome as a sign that our tenants are generally positive.
Since the outbreak of COVID-19, what did you miss or appreciate in your house or living environment? (%)
The improvement of our services for tenants remains important. We believe that satisfied tenants are less likely to move and that they contribute to the well-being of other tenants, which in turn enhances social cohesion and the performance of our assets. From the tenant satisfaction surveys, we learned what areas of the services we provide require extra attention. We would like to thank all the respondents from last year for sharing their thoughts and insights with us.
Please refer to the Management agenda 2021 of this report for our plans to improve our tenant services in 2021.