Posted by: housingdabble | June 29, 2010

Tenants we LOVE YOU

One thing that I’m seeing many leading letting agents increasingly do is to spend more time and effort looking after tenants. Rather than seeing tenants as simply a necessity to get the next property let, they are working hard to build tenant loyalty and ensuring they stand out as an agent that is there to help.

An agent that has really caught my eye in their efforts to do this is Young London and I’m going to share with you a couple of things they do that make them different.

Firstly, every new applicant to register with them receives an email from Neil Young, their CEO. This is great customer service and no doubt they stand out for this amongst their competitors. It shows a personal interest in each prospective tenant and at the same time it is a chance to direct the applicant back to their web site by pointing out three handy documents

  • What to look for when viewing properties
  • Printable property checklist
  • Moving guide

By doing this, it helps tenants to bookmark their service and web site by giving them reasons to return to their site

The letter also suggests they join their Facebook page which reflects the demographic of their target audience. When a tenant joins this page, it will tell all their friends that they ‘LIKE’ Young London, likely prompting them to take a look themselves.

Are their friends likely to be considering renting at a similar time in a similar location – an area served by Young London?…

From this point on, their guides, social updates, lowdown magazine and various other initiatives keep them at the forefront of tenant’s minds before, during and after tenancy.

Another particularly bold step in the journey is their approach to property management

Young London have taken the decision to only deal with properties on which they are instructed on a fully managed basis. Yes, that’s right, they refuse to work for landlords on a ‘let only basis’. They do this because they saw that tenants don’t recognize the difference between let only and fully managed. If they have a poor experience, when a landlord doesn’t deal well with issues, it reflected on Young London, even though they have only been responsible for placing the tenant in the property.

The next idea is within their welcome pack for all new tenants. Gifts for tenants when they move in to a property can vary in quality and I’ve seen some real shockers, such as agency branded key rings and balloons.

Young London do things differently here too. As part of a welcome pack (also including Molton Brown toiletries) every new tenant gets a hardback book entitled ‘The London Companion’ which has a Young London branded spine and dust cover.

The book itself is a collection of hundreds of facts, figures, stories, quotes, jokes and extraordinary anecdotes about London. But Young London have personalized it by putting a map on the dust cover highlighting their latest recommendations for entertainment such as pubs, galleries etc which of course also includes their logo and web address and demonstrates their local knowledge. They can change the cover at any time to be in line with promotions or messages they want to convey.

Would you be impressed? I certainly would. I think this is such a good example of an interesting and memorable gift that helps to build goodwill with the tenants.

These are just a few of the creative ideas from a whole range of agents  that I will be sharing on an ongoing basis from my research over the last few weeks. They cover Customer service, marketing, use of technology and other areas too.

If you have any great ideas of your own then I would love to hear them.

WYACAT39SM4E


Responses

  1. […] This post was mentioned on Twitter by Ben Harris, Martin Smith. Martin Smith said: RT @housingdabble: It's blog O'Clock – Tenants we LOVE YOU – http://bit.ly/cdujGc ( Great ideas from @YoungLondon ) […]

  2. Thanks Ben, an additional benefit from treating tenants in the way they should be treated is our renewal rates are higher. Neil.

  3. […] https://housingdabble.wordpress.com/2010/06/29/tenants-we-love-you/ […]

  4. […] https://housingdabble.wordpress.com/2010/06/29/tenants-we-love-you/ […]


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