On Oct 07 2022 / by Cassie Daley

5 tenant experience apps to increase your WALE

The workplace is changing. Even in the last 3 years, tenant needs have changed, demanding greater flexibility, improved amenities and more of a focus on workplace experience. In addition, with the advent of hybrid workspaces, tenants are more resistant to signing longer leases.

It’s no secret that improving tenant experience will directly impact your Weighted Average Lease Expiry (WALE) and Weight Average Lease Term (WALT). Ultimately, this will contribute to increasing your bottom line.

Many property professionals are exploring tenant experience apps as an approach to tackling tenant stickiness and retention.

What is a Tenant Experience App?

A tenant experience app is like a remote control for your tenants to use in their space. It offers employers a single administration console where they can manage their employees' experiences. Employees can easily access on-site and digital resources, such as workplace commuting options, desks, conference rooms, or parking space reservations, and even book on-site services.

Tenant experience apps act as a hands-on assistant that helps employees and employers get the most out of their leasing space. Tenants can even reach out to their leasing offices with some tenant experience apps including CBRE Host and Equiem. Offering a tenant experience app to potential and current tenants is a significant value add. Tenant experience apps may be the perfect addition that will entice new tenants and keep old tenants, increasing your WALE and WALT.

Tenant experience apps are often mistaken for employee experience apps, but the two are different. Employee experience apps are excellent tools for paring down employees' apps to a straightforward dashboard - it's a virtual assistant for virtual work. Tenant experience apps are more visceral and physical, working to streamline the tenant's physical space for employers and employees.

5 Apps to increase Your WALE

1. HqO

HqO offers significant tenant experience interactions through creating a feedback loop to engage with everyone at a property. The pre-built tenant management provides an easy-to-use framework to stay organized even when you have multiple locations and tenants.

This tenant experience app offers push notifications, community forums, and content and event programming. HqO is excellent for your WALE and WALT because it empowers your tenants to handle many aspects of their experience, including visitor management, resource booking, and self-service work order submissions. The easier it is to work in the space, the longer your tenant will want to stay.

2. CBRE Host

This tenant experience app focuses equally on tenant and landlord experience, offering the standard tenant experience app functionalities, with booking space capabilities and more. However, CBRE Host also acknowledges the needs of landlords by providing detailed analytics on app engagement, workplace occupancy, amenity usage and more. Providing Not only does this improve your WALE and WALT by improving the experience, but it helps elevate all aspects of your business.

Including a fun option for in-app ordering and payment for the property's existing food and beverage providers, an in-app events calendar with custom registration forms, and mobile access options that eliminate the need for keycards, this tenant experience app streamlines the experience for everyone. They even have an integration with Parkable that enables parking space booking and sharing and can open gates to parking lots, all without leaving the app.

3. Cureoscity

Cureoscity offers a bespoke native experience hand-tailored for iOS and Android for each client. Their content is curated and layered for an immersive yet organized experience supported by leading websites. In addition, their property management tools are streamlined to support a high workload while giving a live performance analysis so that you can make real-time decisions and pivots. This tenant experience app creates a platform that heightens your WALE and WALT by offering more profound insights from landlord through to tenant.

4. Equiem

Equip offers the opportunity to create a branded tenant experience app, increasing brand loyalty in a simple, streamlined, and custom way. It also allows you to integrate existing building management systems, including parking lot management, access control, and space-booking software, to create fun and interactive user experiences that don't miss a beat. Landlords' lives are also made easier by increasing communication between themselves and tenants while understanding their needs with actionable intelligence. Leveraging this abundance of information can help you improve your WALT and WALE by applying insights to building and tenant management strategies.

5. Yardi

This tenant experience app brings flexibility to a vast range of services and products. Yardi is designed to handle a massive load of properties, making it the perfect tenant experience app for property management companies looking to increase their WALE and WALT on an extensive list of properties simultaneously. With a suite of products that can be tailored to your needs, Yardi assures you that they have the answer to your problems.

Increase your WALE with these apps

Tenant experience apps increase engagement and satisfaction; a tool to meet changing tenant needs. Equipping you with enhanced building and tenant capabilities to increase tenant happiness and engagement, ultimately supporting sustainable long-term WALT and WALE growth.

Talk to us about integrating your tenant experience technology with Parkable to improve parking management across your portfolio.

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