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Why resident engagement is so critical

Engaged!?! I barely know you!

If you asked someone 20 years ago 'what is engagement?', they would say it's the time after a marriage proposal and before a wedding. Today, engagement includes meaningful interactions between people, even if they don’t know each other like strangers online through social media. Companies engage with their customers through marketing. And landlords and tenants engage with each other from the beginning to the end of the lease.

Studies show engagement is a top priority for operators

A 2020 Deloitte Study showed that of 750 commercial real estate executives asked, 92% planned to spend the same or more on tenant engagement technologies. There is a subset of proptech startups (JoyHub included), that offer Tenant Experience ("TeX") technologies. When did engagement become so important?

Three main factors have led to the rise of engagement as an important goal for landlords

  • Technology use connects us online but leaves us disconnected in the real world. As social media use has become a dominant force in many people’s lives, depression and feelings of loneliness have risen. People seek community and connection, but often don’t have ways to do so.
  • Tight housing markets have put rental operators in a position of offering more amenities to find and keep tenants. Tenant retention goals push managers to try new and innovative ways to keep tenants happy. Resident satisfaction rises through building and supporting true communities.
  • Tenant service level expectations continue to increase. Amazon has put almost any product we can imagine at our finger tips within 24 hours, and in big cities much faster. These heightened on-demand expectations of consumers have expanded into the housing sector. Maintenance requests are a large driver of tenant satisfaction. Residents expect that they will have their needs met quickly. Renter prospects make decisions in large part by reading tenant online reviews.

Technology helps

Many rental operators today look to technology for tools to help with engagement. With tenant expectations so high, it is nearly impossible to deliver without using technology to keep costs - both time and money - down. And as technology continues to improve, it is becoming easier for rental operators to meet and exceed expectations.

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