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Tenant satisfaction surveys

Our tenant 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 potential improvements.

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 7.0, which is above the benchmark score of 6.9. We believe that our outperformance compared with the benchmark, also in previous 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.

Our score of 7.0 in 2021 was slightly lower than the 7.1 we scored in 2020. The Customeyes benchmark provides us with detailed information on how our tenants experienced our homes, the living environment and our service levels in 2021. Key areas for improvement in 2022 are waiting times on the phone, maintenance of certain complexes and our response time on repair requests. We continue to focus on improving tenant satisfaction based on the information from this survey, with the goal of outperforming the benchmark again this year.

Survey on the impact of COVID-19

The slightly lower score for both Vesteda and the benchmark may be linked to the situation related to COVID-19 restrictions. In 2021, many people were at home more often and saw any defects in their homes and nuisances in or around their homes as more urgent than they had previously.

In March 2021, we conducted a second COVID-19 survey to help us gain insight into the impact of the prolonged pandemic. Around 500 tenants participated and provided us with insights into their experiences with respect to their homes and living environments since the outbreak of COVID-19.

The most noticeable difference between the first and the second survey was nuisance. Although nuisance was also an issue in the first survey, in the second survey it was much more significant. For 37% of the respondents, nuisance had increased since the outbreak of COVID-19. Most frequently mentioned nuisances were neighbours, for example their talking, cooking, home repairs, children or dogs. Other frequently mentioned types of annoyance were around the home, such as building sites, parties, garbage on the streets or parking issues.

We are also pleased to report that many tenants indicated 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, nearby grocery stores and a green neighbourhood are especially appreciated.

Since the outbreak of COVID-19, what did you miss or appreciate in your house or living environment, more than before? (%)

Source: Vesteda Survey 2021. Note: Excludes answers given by less than 10% of tenants.

Conclusion

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 2022 of this report for our plans to improve our tenant services in 2022.