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4 Ways Property Management Portals Reduce Customer Price Sensitivity

Customer retention is essential to enduring success in the crowded property management industry. When customers are left unsatisfied, they’re more likely to move on to another service provider. In the book “Strategic Customer Service,” John A Goodman determined that customers who are sensitive to price are most likely to churn.

For property managers, that sensitivity refers to the cost of service, which inevitably rises annually. In 2019 the rent increase guideline for stabilized apartments in New York City was set to 1.5%-2.5%, the Ontario rent guideline for 2019 was 1.8% increase, in British Colombia that number was 2.6%, and in California the average rent increase expected to be limited at 5% in 2020.

According to Goodman, the fewer problems customers have with their experience, the less sensitive to price they will be to price, increasing brand loyalty and customer retention. Included in Goodman’s book are customer service elements that impact retention.

Here are 4 ways the OneLink owner and tenant portal can help property management increase those elements and drive retention.

Staying Informed

Instantly upon logging into their customer portal, owners and tenants are presented with a global overview of all account related information, including maintenance, arrears, and community announcements. This information is connected to the INFO-Tracker back office and updated in real time, so whenever customers are logging in, they are always connected to the most current updates.

Fast Interactions

Using the online portal system, owners and tenants can make requests directly to property managers at any time of the day this eliminates the time customers spend waiting for business hours to commence, or in phone queues. When property managers begin work, they can see all requests that have come in and addresses them faster on a priority basis.

Consistently Good Service

The portal provides customers with self-service functionality reducing the volume of calls incoming calls and foot traffic for property managers to deal with. Most of the time consuming and administrative work that is streamlined by owners and tenants who are processing requests and making payments online independently which not only enables faster turnaround times on customer requests, but also creates more time for property managers to focus on more pressing issues and deliver quality customer service organization wide.

Proactive Help

The OneLink portal suite keeps property management companies prepared for anything. The software allows organizations to adapt to unexpected emergencies or disasters by enabling continued functionality on any device. All data is secured on the cloud so companies could continue service in the case of an extenuating circumstance without any gaps in knowledge.

Customers want smooth, friendly, and fast service without problems, the comprehensive property management accounting software allows property management companies to deliver this level of service in volumes to not only to maintain retention rates but to increase them significantly.

The OneLink customer portals offer seamless and fast service that facilitate quality customer service to not only maintain customer retention rates but also increase them significantly.

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