Communication is the key to a good tenancy

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Backup and security measures: Landlords should implement appropriate backup and security measures to protect tenants' data and information. This includes regular data backups , the use of firewalls , and the encryption of sensitive data . 
 
Open and clear communication between tenant and landlord is crucial to avoid misunderstandings and to address and resolve problems early on. This builds and strengthens a relationship of trust. 

According to our German study participants, communication between tenants and property management takes place primarily via email (30%) or in person (23%). Messenger apps like WhatsApp or special communication platforms provided by property management are used relatively rarely (13% and 6%, respectively). In contrast, only 22% of tenants worldwide use email to communicate with their property management, and 22% use messenger services. This international comparison highlights the need for digitalization in the c level executive list German real estate industry to be profitable for the future.

In most cases, communication works well: 66% report that property management responds within a few minutes to a maximum of one day. However, this still leaves 34% who have to wait a few days to more than a month for a response. 

Long waiting times can lead to frustration for the tenant, especially in the case of acute defects such as a burst water pipe or a defective heating system, and negative consequences for the landlord, such as a rent reduction or withholding of rent.

Business tip:
To prevent this from happening, landlords should fulfill their maintenance obligations (regulated in Sections 535 and 538 of the German Civil Code). Maintenance software can automate the tracking and planning of maintenance activities.
Technology offerings can alleviate discontent over rent increases
Rent increases represent an additional financial burden for many tenants, leading to frustration. A robust range of digital tools can have a positive impact. For example, 23% report that their rent has increased by 5% to almost 10% in the last 12 months, and 17% report a rent increase of 10% to almost 15%.

One solution to avoid rent increases would be to purchase a property. However, respondents have various reasons for renting rather than buying. Most (54%) cannot afford to buy, 25% do not want to take on the responsibility of owning a property, and 19% prefer the flexibility of renting.