03 Dec 2019
The Bouwinvest Residential Fund is working continuously to generate stable, long-term returns for its 23 Dutch pension fund investors. And increasing tenant satisfaction is one of our strategic aims to generate returns that are both social and financial.
Why are we trying to increase tenant satisfaction?
Bouwinvest is an institutional investor in real estate, tasked with generating long-term returns to pay pensions. The social element of this role is becoming increasingly important both to us and our investors, which is why we also focus on the added value of our investments to society as a whole. So, we are working continually to make our portfolio more sustainable and on improving the satisfaction rate of all our stakeholders. Within this framework, tenant satisfaction is one of the Residential Fund’s key indicators.
Tenant satisfaction also has a positive effect on the financial returns which we generate for our investors. Happy tenants live longer in their rental property, ensuring we have stable rental income and therefore a stable return for our pension funds.
How are we increasing tenant satisfaction?
We are doing this by investing in everything that can contribute to tenant satisfaction. The primary focus is on the quality and maintenance of the residential property. So we invest in housing for specific groups, such as first-time renters, young professionals and senior citizens. In addition, we have adopted a rental strategy with a focus on affordability. We moderated the rent rises in all our non-rent controlled properties to inflation plus 1% in 2018 and inflation plus 0.5% in 2019. In addition, we are client-focused, and we make sure our tenants’ wishes are leading as we make our processes better and more efficient. This will remain a specific focus point for the Residential Fund in the coming years.
Our recent tenants satisfaction surveys show that one area where we can make improvements is in Customer Service. For example, our tenants would like to be able to organise housing-related issues more easily and have a single access point for complaints and requests.
One of the initiatives we plan to launch shortly is a digital tenant portal. This portal will allow tenants to deal with housing issues 24/7 as well as keep on top of the latest news and developments relating to their home or residential complex. The portal will also make it easier for them to report a breakdown or make a repair request, and monitor how that request is being dealt with.
For more information about the Residential Fund, click here.