By using this website, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.
December 5, 2024
Street Blog

5 benefits to providing a great tenant experience

Head of Sales

A tenant’s perception of their rental journey — from onboarding to everyday living — can have a significant impact on retention rates, operational efficiency, and even a landlord's reputation. A positive tenant experience doesn’t just make for happy tenants; it means happy landlords too (and the portfolio growth that comes with them). But the benefits of prioritising your tenants’ experience don’t stop there. In this article, we’ll explore why your letting agency should deliver a great tenant experience, and how to get started. For a detailed guide to exceeding modern consumer expectations, read our latest guide here.

1. Faster tenant onboarding 

The onboarding process sets the tone for the relationship between you and the tenant as well as between your agency and the landlord. A smooth and efficient tenant onboarding process demonstrates professionalism, builds trust, and means your landlord’s property is let and collecting rent quicker.

For letting agents, faster onboarding means fewer administrative headaches and more time to focus on winning new landlords, while tenants feel valued when they experience an organised and stress-free start to their tenancy.

Tools and self-service solutions like Street.co.uk can simplify onboarding, reducing paperwork and delays while giving tenants more control over their move-in journey. For example, with Street.co.uk’s Xodo integration, applicants can digitally receive and sign paperwork – saving them the time and hassle of sending over physical copies.

As a result, happier tenants are more likely to stay longer, meaning more guaranteed income for your landlords, and saving your agency time and money on finding new tenants.

2. Renewed tenancies, longer-term lets, and improved communication

Effective and continuous communication is at the heart of a great tenant experience. Tenants who feel heard and supported are more likely to renew their leases, meaning longer leases and more guaranteed income for your landlord clients.

A mobile-first experience plays a key role here. Today’s tenants expect the convenience of managing their tenancy from their smartphones, whether it’s paying rent, submitting maintenance requests, or accessing important property information.

Happy tenants often become long-term tenants, reducing turnover and minimising the costs associated with finding new renters – while allowing your landlord clients to enjoy a smooth, hands-off investment.

3. Enhanced operational efficiency with technology

Letting agencies and landlords can use technology to streamline everyday processes, creating a win-win for all parties. 

Solutions like Street’s AI Maintenance, for example, can transform how tenant maintenance requests are handled. Instead of juggling multiple enquiries manually, agencies can use AI to prioritise and route requests to the right contractors efficiently – and reduce inbound requests by up to 20%.

Street.co.uk’s AI document reader is another feature that helps letting agents win back their time – this time when dealing with landlords. The tool scans documents like safety certificates and contractor invoices, and automatically fills in fields like certificate type, valid dates, invoice number, amount, and payment due dates. The tool will even set auto-reminders based on the dates in the document for when maintenance needs to be carried out, or certificates renewed. 

By automating repetitive, manual processes, your agency benefits from:

  • Speed: AI tools ensure maintenance issues are addressed promptly, reducing tenant frustration.
  • Accuracy: Automated systems help eliminate human error in scheduling or communication.
  • Cost savings: Efficient maintenance workflows mean fewer delays and better resource allocation.

For tenants, knowing their concerns are being handled promptly improves their overall satisfaction and builds trust in the letting agency or landlord, meaning increased word-of-mouth referrals, positive reviews, and less hassle for the landlord.

4. A stronger brand reputation in a competitive market

It might not be obvious, but great tenant experiences can really set your agency apart. Tenants talk — whether through online reviews, word-of-mouth, or social media — and their feedback can significantly influence your brand reputation.

Positive experiences lead to:

  • Better reviews: Tenants who enjoy their renting journey are more likely to leave glowing reviews, boosting your local reputation.
  • Referrals: Satisfied tenants often recommend their letting agency to friends and family.
  • Market differentiation: A reputation for excellent tenant care can attract high-quality tenants, ensuring stable rental income.

Investing in areas like personalised service, mobile-first tools, and efficient communication can give your brand a competitive edge. This edge is particularly valuable in attracting tech-savvy tenants who prioritise convenience and responsiveness.

5. Long-term cost savings through proactive tenant care

Providing a great tenant experience isn’t just about making tenants happy in the short term — it also delivers tangible financial benefits over time. When tenants feel valued and respected, they are more likely to maintain the property, pay rent on time, and communicate openly about potential issues.

Cost-saving outcomes include:

  • Reduced turnover costs: Long-term tenants mean fewer expenses related to advertising, cleaning, and onboarding new tenants.
  • Lower maintenance expenses: Tenants are more likely to report minor issues early, preventing costly repairs later.
  • Fewer disputes: Clear communication and tenant-friendly policies reduce the likelihood of conflicts, saving legal or mediation costs.

By fostering a strong tenant-landlord relationship, you’re creating a cycle of mutual respect and care that benefits both parties financially and emotionally.

Practical tips to enhance tenant experience

If you’re ready to reap these benefits, here are a few actionable strategies to improve tenant experience:

  1. Adopt a mobile-first platform: Invest in apps or platforms that allow tenants to manage their tenancy conveniently.
  2. Utilise AI for maintenance: Implement AI tools to streamline maintenance reporting and resolution.
  3. Communicate proactively: Send regular updates about property maintenance, local events, or other tenant-relevant information.
  4. Collect feedback: Regularly ask tenants for feedback on their experience and use it to make improvements.

From faster onboarding and increased retention to operational efficiency and long-term cost savings, the benefits of prioritising tenants’ experience are undeniable. By leveraging technology, letting agents and landlords can ensure that tenants feel valued and cared for — while also setting themselves apart in a competitive market.

By committing to these principles, you’re not only building stronger relationships with your tenants, but guaranteeing high-quality, long-term lets for your landlord clients.

Want to learn more about providing an exceptional tenant experience? Read our latest guide.