New research from Rushbrook & Rathbone suggests the sector may have an image problem rather than a service problem. More than four in five tenants, 81%, said they were satisfied with the service provided by their property management company.
The survey covered tenants living in professionally managed properties, exploring satisfaction with property management services, responsiveness, maintenance, communication and transparency, as well as the role property management plays in tenant retention.
Satisfaction levels break down as follows:
- 38% of tenants said they were very satisfied
- 43% said they were fairly satisfied
j - ust 18% expressed dissatisfaction
This suggests that the experience of many tenants differs from the negative perception often associated with the sector. However, the findings also highlight the importance of maintaining high service standards. More than two-thirds of tenants, 68%, said poor property management would cause them to move out of a property, including 11% who said they had already done so in the past.
Communication and accessibility are generally viewed positively. Some 66% of tenants rated their property manager's responsiveness as either excellent or good, while 85% said it was either very or fairly easy to get in touch when needed. Transparency also scored highly, with 85% describing fees and charges as either very or fairly clear.
Maintenance remains the area where tenants are most likely to experience frustration. Asked to identify their biggest issue with their property management company, tenants cited:
- delays to repairs and maintenance (47%)
- a lack of updates on ongoing issues (17%)
- poor attitude or customer service (13%)
- slow response times (12%)
Overall sentiment towards property management companies remained positive, with 58% of tenants saying they would be likely to recommend their property management company to another renter.
Roma Sharma, managing director at Rushbrook & Rathbone, said the findings reflect a gap between perception and reality. "Property managers don't always enjoy the best reputation, so it's encouraging to see that tenants living in professionally managed homes are generally having a positive experience," she said.
"The findings also show just how important good property management has become. While many tenants are happy with the service they receive, they're also clear that poor management can quickly become a deciding factor when it comes to whether they stay or move on.
"Repairs will always be one of the biggest tests of any property management company because they're often the most disruptive issue a tenant faces. Keeping residents informed, communicating clearly and resolving issues as efficiently as possible goes a long way towards building trust and encouraging longer tenancies."
