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How do you expect to make a profit if you’re NOT monetising 80% of your customer base? Shocking statistics reveal the opportunities you are missing!

2 minute read

Matt Pickersgill

Apr 12, 2021


Did you know that there are around 4 times as many tenants as there are landlords? Which means you are probably only monetising one fifth of your customer base.

The roll-out of the tenant fee ban has forced many agents to give up on or become nervous about making any revenue from their tenant customers.

The Vaboo platform creates data that can give you key insights to make your business much more profitable! We have over 120,000 tenants on the platform and each month we allow them to enter competitions to win free rent. All they have to do is answer ‘key insight’ questions that we report back to agents.

Here are some of those insights...

Commission opportunities

80% of tenants say they would like their agent to help them save by utility switch. This is nothing new. Agents have used kickbacks as a tool to earn commissions, but most tenants are only being engaged at the point of move in.

With the Vaboo platform you can host your own custom offers that tenants will see every time they login to use their rewards and discounts.

AND

It’s not just utilities that can give you commission opportunities.

62% of tenants said they would pay for help with moving the furniture. Our clients use data like this to build up relationships with other business whether local or national and create opportunities.

Save money with retention

Do you have any idea when your tenants want to buy?

48% of tenants we spoke to said they were either ‘likely’ or ‘highly likely’ to buy a property after their current rental.

31% planning to buy in the next 2 years, and 57% planning to buy in the next 4 years.

If you do sales and lettings, you don’t want to miss the opportunity of those tenants going through you!

Be an expert

So let’s talk COVID.

Only 28% of tenants answered ‘Yes’ when asked ‘Has COVID made you more likely to stay in your current property?

Only 17% of tenants believed that COVID would impact their ability to pay rent.

With up-to-date key insights you can act confidently in even the most obscure of times.

Book a demo to find out what data your own private reports can provide


Tags

Insights Content Success