Measures to Enhance Net Operating Income and Property Value
There are several key metrics that successful real estate companies rely on to generate long-term economic value. Two of the most important are a...
Using tenants' feedback when developing the organization is crucial to achieve successsuccess. That is something that Victoriahem is well aware of. When Victoriahem was formed after a merger between two companies, they experienced a negative media image and dissatisfaction among tenants..
Victoriahem's faced several challenges. Many of their properties are located in socially vulnerable areas with a large maintenance debt and socio-economic challenges. The need for renovation was therefore a high priority. Peter Ullmark, COO at Victoriahem, explains that the maintenance debt created over decades and some times all the way back to when the buildings were built, also meant inheriting a tenant base that was dissatisfied with previous service and maintenance standards. To tackle these challenges, Victoriahem launched several initiatives. For example they decentralized decision-making to better adapt to thier portfolios different needs.
We are engaged in activities that contribute to developing society, including hiring long-term unemployed tenants to work with the maintenance of our properties. This has strengthened the ties between us as a landlord and our tenants," says Peter Ullmark.
Victoriahem used insights from the customer surveys they do with AktivBo in the external communication. By openly sharing their progress with tenants and the general public, the negative media coverage gradually decreased. The results of their efforts are clear. Victoriahem has seen a noticeable improvement in its level of service and a strengthened relationship with its tenants. Despite its significant progress, Victoriahem continues to strive for improvement. By prioritizing areas with lower customer satisfaction, the goal is to continuously improve by using insights from tenant surveys to boost their Service Index.
There are several key metrics that successful real estate companies rely on to generate long-term economic value. Two of the most important are a...
Commercial real estate companies on several European markets are facing a new reality. After years of steady demand, vacancy rates are rising — in...
Tenant loyalty is a business-critical issue for real estate companies. Data shows that the service experience plays a decisive role in whether...