“Resident experience is the single most important success factor for any BTR development.”Richard Smith, Managing Director of Moda Life Operations
Operators are not just in the business of providing accommodations; they’re in the business of delivering an experience. Today’s residents expect more than just a place to live; they seek convenience, connectivity, and community. Meeting these expectations is not just about keeping up with the competition; it’s about staying ahead and ensuring sustained profitability.
ResEx: Worth the hype?
In the dynamic world of property management, site teams and building operators face a constant challenge: balancing resident satisfaction with financial profitability. In an era where technology drives both profit and customer experience, finding the equilibrium between these two objectives has become more crucial than ever. Here at Utopi, we believe we can provide you with the right solutions, improving internal efficiencies and asset value for building operators, and elevating experience for your residents. Investment into the right technology can see returns beyond reduced running costs and asset valuation, and drive profit through increased tenant satisfaction and residence quality.
Here are just a few of the benefits of increased resident satisfaction:
- Improves retention rates
- Boosts reputation
- Simplifies rent collection
- Reduces maintenance issues
- Satisfies Investors and Asset Managers
Not to mention the additional value of improving social wellbeing within residential assets in the rise of the ‘S’ in ESG…
Connecting with Tenants, it’s all in Tech.
We can discuss the importance of prioritising resident satisfaction all day, but with an already busy day-to-day, what can operators do to drive satisfaction scores up? Engaging with the right technology and tools to streamline daily tasks is key.
Investing in technology isn’t just about cutting costs or maximising revenue streams; it’s about creating an environment where residents feel valued and supported. By implementing user-friendly platforms, (like Utopi’s new resident app, coming soon!) operators can foster a sense of belonging and empowerment among residents. While prioritising resident satisfaction is paramount, it’s also essential to ensure financial viability. Thankfully, technology offers numerous avenues for driving profitability without compromising on customer experience. Data analytics tools can provide valuable insights into resident preferences, allowing operators to tailor their offerings effectively.
Utopi: What can we do for you?
Here at Utopi, we provide you with an effective and complete service, from data collection and metering all the way to resident experience management. Here are just some of the benefits of our metering, monitoring and software solution (and soon to be resident app) that set us apart, and will set your resident satisfaction apart too.
- 1. API integration.We understand the importance of a simplified solution, and don’t want to overhaul what is already working for you. Utopi are currently integrated with Spike Global, allowing individual space data to be presented alongside the standard resident app experience. The data we collect is also available to 3rd parties through API or CSV export, creating frictionless access to your data where you need it. Get in touch with a member of our team today to learn about how we can integrate into your current workflow.
- 2. Community Building.Our new app focuses on the gamification of utility control and reduced energy consumption. Engaging residents in challenges within their buildings, and stimulating healthy competition and conversation around sustainability and heating habits, key for building stronger communities and nourishing the social aspect of asset management. It can also provide a link of communication between resident and building operator for those who are less inclined to head down to the lobby.
- 3. Air Quality.I’m sure by now you’ll know all about the importance of improving air quality for increased building health and resident experience. But you can’t improve something you can’t measure! Our multisensors come with built in air quality sensors, which is easily visible from your Utopi dashboard. So you can track air quality in both individual and shared spaces to ensure the best experience for your residents.
- 4. Use of shared spaces.We can’t say it enough, we love data, and we love good use of data. Our people counting capabilities can help you understand the usage of shared spaces and facilities, so you have the ability to modify your provisions to tenants, and design of future buildings. Understanding the spaces people want, how they use them, and how to improve them is key to elevating your tenant experience. One of our clients has already used such data in their lift facilities to influence their lift shaft design in a future project!
- 5. Mental Wellbeing and Independence.
As providers of accommodation and services, it can be hard to connect with residents and create positive behaviour change. But how can we expect residents to create sustainable habits in their private areas if they have poor awareness in the first place. Our technology is a game-changer in the likes of PBSA. Giving students the information and tools they require to make positive changes, and a feeling of control and independence within their living environments.
Finding new benefits within ResEx.
The importance of resident satisfaction and the craftsmanship of the resident experience is not going anywhere soon, as more and more are turning from home ownership to renting, and looking to find a sense of community within those residences. But designing the bespoke resident experience need neither be costly nor time-consuming. To keep the pressure off the already busy site operator, a turn to alternative and innovative technology-based solutions is a key consideration. And, Utopi’s fully scope solutions and services have proven results beyond operational efficiency and increased asset value, of which will also only be benefitted by improving the tenant experience.
Providing residents with the ultimate experience while still running a profitable site doesn’t need to feel paradoxical, with our technology the two come hand-in-hand. If you want to find more about how we can simplify site operations for you, get in touch.
Author: Ben Roberts, Chief Growth Officer and Co-Founder at Utopi.
Speak to our expert team today on how Utopi can help – from ESG Advisory Services to our award-winning ESG solutions.
Click here, or email Ben, Chief Growth Officer: Ben.Roberts@utopi.co.uk.