Do you know?
The average NPS for tenants is -11.1
37% of tenants prefer to have their property managed by the Landlord
59% of Landlords left their letting agent due to poor service
The average NPS for tenants is -11.1
Net Promoter Score has become increasingly popular to measure within our sector. The 2016 Landlord & Tenant Survey carried out by the Property Academy last month highlights that the average NPS for Letting Agents, from a tenant perspective, is -11.1, a figure collated from the answers of 4,879 respondents. Considering the maximum NPS is +100 this is a disappointing find and clearly there is improvement to be made in our service levels to tenants.
BoomerangCRM measure NPS on behalf of many agents across the UK. In contrast, their average tenant NPS is incredibly different at +51 straight after tenant move in. This does however decrease to +24 after 6 months. I spoke to Annalese and Claire at BoomerangCRM to find out more and they confirmed that when clients come on board, the NPS is quite low from tenants. However, on a monthly basis Boomerang give their clients their own scores (vs the national average) along with feedback on how to increase their customer service levels. As the months go by every client has seen an increase in their average NPS which is excellent.
As NPS is used by companies such as American Express and Apple and is said to relate to profits, it is great to hear of companies working on improving their NPS every month. We know that what gets measured, gets focused on, and customer service is extremely important to focus on. You can find out more about NPS and BoomerangCRM here
37% of tenants prefer to have their property managed by the Landlord
I wonder if this statistic ties in with the above?
59% of Landlords left their letting agent due to poor service
This is not surprising. In a competitive market place, customer service is extremely important.
We will be reviewing these ‘hot off the press’ Landlord & Tenant Survey findings in more detail at Lettings LIVE on 10th June. Book your ticket here if you haven’t already secured it.
