{"id":51504,"date":"2023-06-23T17:24:10","date_gmt":"2023-06-23T17:24:10","guid":{"rendered":"https:\/\/www.yardi.co.uk\/?p=15429"},"modified":"2026-03-11T10:38:43","modified_gmt":"2026-03-11T10:38:43","slug":"delivering-resident-value-operations-marketing-and-customer-experience","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/en-gb\/delivering-resident-value-operations-marketing-and-customer-experience\/","title":{"rendered":"Delivering Resident Value: Operations, Marketing and Customer Experience"},"content":{"rendered":"<p>Yardi\u2019s Senior Account Executive, Georgie Drewery joined industry experts at this year\u2019s Bisnow Conference 2023, held in London, to discuss delivering resident value in BTR. The panel was moderated by Katherine Rose from <a href=\"https:\/\/verv-life.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">VervLife<\/a> and included:<\/p>\n<ul class=\"wp-block-list\">\n<li>Nicola Fleet-Milne from <a href=\"https:\/\/fleetmilne.co.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">FleetMilne<\/a><\/li>\n<li>Valerie Cseplo-Jeffery from <a href=\"https:\/\/www.lendlease.com\/uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">Lendlease<\/a><\/li>\n<li>James Hart from <a href=\"https:\/\/www.lasalle.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">LaSalle Investment Management<\/a><\/li>\n<li>Grace Oyebunmi Oyesoro from <a href=\"https:\/\/www.quintainliving.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Quintain Living<\/a><\/li>\n<li>Dominic Sherry from <a href=\"https:\/\/www.muraliving.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mura Living<\/a><\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"h-btr-vs-prs-value-understanding-resident-value-proposition\">BTR vs PRS Value: Understanding Resident Value Proposition<\/h2>\n<p>In the rapidly evolving real estate market, the concepts of Build to Rent (BTR) and the Private Rented Sector (PRS) have gained prominence. Starting the discussion, Hart highlights how the \u201cconcept of resident value is subjective\u201d and can be \u201cslightly different depending on geography and demographic.\u201d In the BTR sector, certain trends consistently emerge as high-priority factors for residents \u2013 these are \u201clocation, security and value for money,\u201d states Hart. When compared to PRS, BTR developments excel in offering \u201curban locations with excellent connectivity, on-site staff and security measures.\u201d However, he notes that the perception of value for money can vary depending on the demographic and location of the building \u2013 \u201cWhat someone might find value in, another person might not.\u201d Therefore, it is \u201cimportant to look at the granularity of the demographic in the location and who\u2019s in the building,\u201d stresses Hart.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><\/figure>\n<\/div>\n<p>Amenity provision in BTR is a big differentiator between traditional PRS. It \u201coffers residents an extension of their home, beyond the square meters of their apartments,\u201d Hart continues, thus becoming much more in the rental sector.<\/p>\n<p>Following this, Drewery reflects on her rental experience as someone who has lived in both BTR and PRS. Affordability holds a significant value for renters when considering their next move. Drewery notes while \u201cBTR may carry a premium price tag to PRS,\u201d it often offers additional benefits that justify the cost. Residents are \u201cwilling to pay a premium for the enhanced services, amenities and management\u201d provided by BTR developments. Cseplo-Jeffery emphasises this notion, highlighting how BTR developments are \u201cbuilt for the renters. Everything is catered to the resident\u201d and that\u2019s an important distinction to make.<\/p>\n<p>Hart rounds off the first half of the discussion by noting the flexibility aspect you can find in BTR when compared to PRS. He explains that the flexible feature in BTR developments \u201cprovides residents with a blank canvas to adapt the space and use it how they want to,\u201d helping to form a community that residents want to be a part of and \u201cthat\u2019s the ultimate customer experience,\u201d states Fleet-Milne.<\/p>\n<h2 class=\"wp-block-heading\">The Power of Brand in Rental Housing<\/h2>\n<p>The conversation led on to the importance of the brand. Rose asked the panel their views on branding and how important they believed it to be for marketing BTR developments. Sherry\u2019s response \u2013 \u201cBrand is crucial.\u201d<\/p>\n<p>Brand plays a vital role in the rental housing market and \u201cit\u2019s always from the customer side.\u201d For BTR operators, establishing a strong brand identity is essential in differentiating themselves from PRS and building a sense of community. Sherry notes that when it comes to his personal experience, Mura Living were able to create a sense of belonging by branding its \u201ctenants as guests and not as tenants.\u201d He highlights how these \u2018guests\u2019 \u201clive in a community where they want to feel a sense of belonging\u201d and branding helps facilitate that. He suggests that when developing, providers need to \u201cstart with a brand and not with the building,\u201d only then can they ensure alignment of their BTR building with residents\u2019 expectations.<\/p>\n<p>Oyesoro, emphasises this and argues by prioritising branding, BTR operators can create a loyal customer base. She agrees that \u201cbranding efforts should extend beyond the physical building to every touchpoint.\u201d But highlights the importance of building a brand that residents can trust and identify with as this will be instrumental in ensuring tenant satisfaction and creating a stronger community.<\/p>\n<p>Drewery expands on this by stressing how branding can be a powerful marketing tool \u2013 \u201cIt can create longevity and attract the renters,\u201d states Drewery but \u201cwithout the renters, there is no brand,\u201d reinforces Oyesoro. Therefore, branding plays a critical part in building image, trust and community, but it can also \u201chelp to explain what build to rent is,\u201d ends Hart.<\/p>\n<h2 class=\"wp-block-heading\">Reputation: A Cornerstone of Success<\/h2>\n<p>Reputation holds immense value for renters, operators and investors. For Fleet-Milne, a positive reputation \u201cinfluences lease-up rates and drives resident renewals.\u201d In an era where online reviews can make or break a business, it is crucial to actively manage and respond to resident feedback.<\/p>\n<p>\u201cResponding promptly and resolving issues demonstrates a commitment to continuous improvement,\u201d she states. By \u201cleveraging platforms such as HomeViews\u201d and embracing resident feedback, operators can monitor their reputation, make necessary changes and shape their success in the market.<\/p>\n<p>Cseplo-Jeffery states it\u2019s \u201cimportant to own up to mistakes.\u201d She further stresses that not responding to bad reviews or feedback \u201cis the worst thing a BTR provider can do\u201d because you want to build a reputation that shows you are a BTR provider that is \u201clistening to feedback, taking it in and making the appropriate changes.\u201d Fleet-Milne agrees and notes that \u201cno one in the BTR industry knows it all,\u201d resident reviews\/feedback allows the sector to listen to its audience, take on board what they are saying and helps to \u201cchange, innovate and improve\u201d BTR\u2019s reputation. Hart reiterates this point by quoting, \u201cEvery complaint has the potential to become a compliment.\u201d<\/p>\n<h2 class=\"wp-block-heading\">Harnessing the Power of Data<\/h2>\n<p>Data has become an indispensable tool in the rental housing industry. The panel were asked, \u201cHow important is data regarding understanding resident satisfaction and brand success?\u201d<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/06\/Bisnow-event-blog-image-v2-1200x800-1-1.jpg\" alt=\"Georgie Drewery speaking at Bisnow BTR panel\" class=\"wp-image-15435\" width=\"512\" height=\"341\"><\/figure>\n<\/div>\n<p>\u201cData is super important,\u201d states Drewery. \u201cData provides valuable insights and guides decision-making from resident satisfaction to brand success. Capturing resident data, including reviews, allows operators to gauge satisfaction levels, identify areas for improvement and refine their marketing strategies.\u201d But gathering data from the moment a \u201cresident is looking for somewhere to rent on the website,\u201d to when they leave helps to reduce \u201cthe unit turn process, avoid empty apartments\u2026and helps to plan for preventatives,\u201d Drewery continues.<\/p>\n<p>Oyesoro also points out that data can further enable a comprehensive understanding of the customer journey. Capturing data from initial enquiry to lease conversion and asking tenants about their move-in experience through to their post-notice period, will \u201cempower operators to optimise their operations, deliver exceptional customer experiences\u201d and help to nurture long-term relationships with residents.<\/p>\n<h2 class=\"wp-block-heading\">The Role of Technology: Enhancing Customer Experiences<\/h2>\n<p>Rose concluded the session by asking the panel, how does technology help? \u2013 Cseplo-Jeffery highlights how technology, including AI, has transformed the rental housing industry by offering convenience and efficiency. \u201cTechnology is all about making the resident\u2019s lives easier,\u201d it\u2019s there to streamline processes, such as \u201conline rent payment, maintenance requests and electronic document signing,\u201d simplifying the resident experience. However, she notes that the focus should be on adopting technology, which is \u201cmeaningful\u201d \u2013 Technology that not only enhances residents\u2019 lives by saving time and energy but that allows the property management teams to enhance values within the development. She states, \u201cAdding smart features to your unit is great,\u201d but urges BTR providers to find technology that not only \u201cbuilds a connection with residents.\u201d<\/p>\n<p>Drewery ends the panel discussion by noting that developers need to invest in technology that helps with different touchpoints. They need to implement software that has an \u201capplication portal, a tenant portal and a leasing or a maintenance dashboard.\u201d Having this type of \u201csingle, connected solution, with that one login, is very important when wanting to improve efficiency and experience for both staff and customers,\u201d Drewery explains.<\/p>\n<p>See what events <a href=\"https:\/\/www.yardi.co.uk\/events\/\" target=\"_blank\" rel=\"noreferrer noopener\">we\u2019ll be attending in 2023<\/a> and meet with Team Yardi or get in touch to see how our <a href=\"https:\/\/www.yardi.co.uk\/build-to-rent-software\/\">single, end-to-end property management and accounting technology<\/a> for BTR can help drive resident value.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yardi\u2019s Senior Account Executive, Georgie Drewery joined industry experts at this year\u2019s Bisnow Conference 2023, held in London, to discuss delivering resident value in BTR. The panel was moderated by Katherine Rose from VervLife and included: Nicola Fleet-Milne from FleetMilne Valerie Cseplo-Jeffery from Lendlease James Hart from LaSalle Investment Management Grace Oyebunmi Oyesoro from Quintain [&hellip;]<\/p>\n","protected":false},"author":897,"featured_media":51052,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3497,3501,3456],"tags":[],"class_list":["post-51504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-build-to-rent","category-events","category-residential"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yardi Blog<\/title>\n<meta name=\"description\" content=\"Yardi\u2019s Georgie Drewery joined industry 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