A majority of landlords (57%) say managing the monetary impression of the present economic system is a prime precedence in 2023, in line with the 2023 VTS International Landlord Report, and a big majority stated the know-how will assist them to try this.
Some 86% of landlords stated that know-how will assist them to advance tenant relationships, prioritize tenant retention, and spend money on extras that help constructive tenant experiences.
Making a “hospitality-like expertise for tenants on-site in buildings” is favored by 91% of survey respondents.
As for constructive tenant experiences, touchless tech is crucial, many stated, together with meals and beverage choices, tenant expertise applied sciences, out of doors communal areas, and constructing administration techniques.
Retention is an enormous key amongst goals as properly, as declining market demand has change into a difficulty as energy is now within the arms of tenants, VTS reported.
“Landlords are taking a severe have a look at how their portfolio compares to what’s obtainable available on the market and what tenants now count on,” in line with the report. “Given the monetary impression of the present financial local weather, retaining present tenants is a prime focus and elevated experiences have gotten desk stakes, and tenants have gotten extra desensitized to what was once awe-inspiring.”
Nonetheless, extra landlords don’t have insights into tenant attrition or know what tenants are on the lookout for from their areas, or have perception into the chance that their tenants might quickly be leaving.
