We are in the very early stage of developing a 'Tenant Satifaaction Survey' to use in our rental home business, and looking for ideas or samples of what should, or shouldn't, be in it, and general feedback on your experiences for those of you who have done this. In general we feel we take GREAT care of our tenants from the verbal feedback we get from them.
Our thoughts are to use this in several ways;
- To know what we are doing 'right AND wrong' with our current tenants and what we could do to keep the good ones longer.
- To use the results when we are looking for new tenants to help persuade them to choose us over the competition, especially when our better quality properties are a little more expensive than much of the completion.
- To use the results to convey to both our bankers and potential Private Passive Investors that we would be good to partner with - We have superior properties, management, and overall company culture to stand out in the rental property space.
Thanks for any feedback you can help out with,
When I first started landlording I tried an "exit survey" for outgoing tenants, and the response rate (even with SASE) was so low I abandoned it. The feedback that I did get was not all that insightful or useful. This was one of those "good ideas on paper" but the implementation did not yield the intended result.
I never tried it with current tenants, as they are all MTM.
As far as attracting new clients, my strategy has always been to have my units just under market and/or be in better shape than the competition's and provide superior service. Before each listing, I do a fair amount of market research to see who I'm going up against. I haven't found it necessary to self-promote, as my reputation precedes me, and I'm noticing for the first time this year I am getting a fair amount of traffic via referrals from other tenants prior to posting any ads.
I tried surveys in the past and had a 1% response rate which is absolutely useless.
I now ask for feedback when we make a repair (no responses yet, but I keep trying) or when a tenant vacates. I just ask them to leave a review at Google or Facebook.
@Daniel Dietz It's a great idea. I'm starting to employ the same strategy in my rentals. In order to avoid the low participation rate, I've a.) suggested that by completing the survey, the tenants could win up to $100 - the amount is a function of the thoroughness and comprehensiveness of their answers and b.) issue the survey with 3-6 months left on the year-long lease so that I can take the feedback into consideration and assess repairs and improvements that may help retain my top quality tenants and reduce vacancy.
Did you manage to put together a survey you felt comfortable with? Mind sharing your approach/ questions?
I have not got to it yet, but still want to. Life got busy with some health issues in the family, adding another 4 doors, and my day job getting crazy busy too.
I will post an update when I get it done though. I have a bunch of notes of what I want to include in it, now to just get it put together :-)