Catella

A satisfied tenant has a positive impact on an investor’s return. That’s why it’s crucial to understand tenants’ experiences and expectations and incorporate them into the strategy. “This goes far beyond routine maintenance. Think of initiatives related to safety, sustainability, and a sense of community within complexes.”

The sustainable link between property and capital

Catella Investment Management Benelux (CIMB) is a leading real estate company and part of the publicly listed Swedish firm Catella AB. Headquartered in Maastricht, CIMB focuses on Investment and Asset Management. “We offer investors opportunities to invest in diverse asset classes in the Benelux region (residential, logistics, retail, offices, and parking). Within the residential portfolio, we provide housing for the entire life cycle: from student housing to senior living.”

Satisfied tenants, satisfied investors

What does investing in tenant satisfaction yield? Insights in this area enable CIMB to create value across multiple dimensions. For achieving higher returns—both social and financial—satisfied tenants are a critical factor. Tenant satisfaction surveys conducted by Customeyes serve as an important tool to identify tenant needs, which are then linked to initiatives. “The daily management of our properties, from rent collection to handling repair requests, is outsourced to external Property Managers. Success ultimately lies in the interaction between CIMB’s Asset Managers and the Property Managers.”

Customer focus is also one of the pillars of Environmental, Social & Governance (ESG). “Many of our funds actively report on sustainability (e.g., GRESB), with customer satisfaction being one of the metrics. Customeyes’ surveys help us provide the required data and improve on these criteria.”

From insight, to action, to impact

Prior to the first tenant satisfaction survey about three years ago, detailed insight into tenant satisfaction was lacking. CIMB faced the challenge of improving tenant satisfaction, particularly regarding service charge settlements and communication. “We now live in a 24/7 economy where we’re always ‘on.’ Tenants expect to be continuously informed—proactive communication is key. We must ensure that our external partners are also at the forefront of this.”

There was also a need to measure activities and results against other players in the sector. CIMB partnered with Customeyes to conduct a structured tenant satisfaction survey and participate annually in a benchmark study. The survey focused on identifying pain points and finding practical solutions. Customeyes helped design a questionnaire tailored to Catella’s tenants’ needs.

“We now know how our tenants feel about the housing, living environment, and services provided by the Property Manager. Based on these insights, we can create concrete action plans.”

Happy employees, happy customers, happy investors

The collaboration with Customeyes has resulted in significant improvements, benefiting the organisation, tenants, and investors alike:

• Improved service charge transparency: Clearer communication regarding service charges has led to fewer tenant questions and complaints. Satisfaction scores regarding these settlements have noticeably improved. Generally, over half of customer service conversations revolve around preventable issues. These interactions drain energy from employees and tenants while adding no value. Customer focus, therefore, also reduces operational costs.

• Adjusted concierge role: Insights from the survey have prompted an analysis of the concierge role, which will lead to more efficient resource allocation and better service for tenants without unnecessary cost increases. “Customeyes provides a clear dashboard and in-depth final analysis. For example, they examine whether complexes with a concierge score higher than those without one. Such services increase costs for both tenants and landlords but should create added value in both cases.”

• Higher participation: Tenants noticed that their feedback was taken seriously after the initial survey and appreciated the actions taken, leading to higher participation in the second survey. This resulted in more valuable feedback and a more accurate understanding of tenant experiences.

• Collaborating with the right partners: CIMB organises an annual event to bring external Property Managers together. In 2023, this event focused on tenant satisfaction. Customeyes delivered a presentation and facilitated a workshop, proving to be a successful way to enhance collaboration among different organisations and break down silos. This directly increased engagement and enthusiasm among all parties. At the same time, HTO results are one of the criteria used to assess collaborations with external Property Managers.

Truly listening as a value driver for all stakeholders

Through its partnership with Customeyes, CIMB has gained valuable insights into tenant satisfaction and optimised its operational processes. This has led to increased tenant satisfaction, positively influencing investments.

This customer case highlights the importance of targeted and well-executed satisfaction surveys in property management. By giving tenants a voice, CIMB’s mission is further strengthened, benefiting all stakeholders—the tenants, investors, and the organisation itself.