TC2.1: Tenant Satisfaction Survey – Above Green

Intent

This indicator examines whether and to what extent the entity engages with tenants regarding their satisfaction. Tenant satisfaction surveys help entities understand critical issues within the portfolio, engage with their tenants, and increase tenant satisfaction, which may contribute to improving retention rates and productivity.

Using widely applied tenant satisfaction surveys should be translated into easily interpretable metrics that can help analyze and compare outcomes, despite the many variations between tenants.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Has the entity undertaken tenant satisfaction surveys within the last three years?

Yes
- The survey is undertaken (multiple answers possible)
  - Internally
    - Percentage of tenants covered: ____________%
    - Survey response rate: ____________%
  - By an independent third party
    - Percentage of tenants covered: ____________%
    - Survey response rate: ____________%
- The survey includes quantitative metrics
  - Yes [metrics include]
    - Net Promoter Score
    - Overall satisfaction score
    - Satisfaction with communication
    - Satisfaction with property management
    - Satisfaction with responsiveness
    - Understanding tenant needs
    - Value for money
    - Other: _____________
  - No
No

Percentage of tenants covered: Calculated based on the number of tenants (e.g. entities) in the portfolio that received the tenant satisfaction survey during the reporting year. If the number of tenants changed during the reporting year, use the number at the end of the reporting year. The denominator is the total number of tenants at portfolio level.

Validation

Evidence: Document upload or hyperlink. The evidence must sufficiently support all the items selected for this question. If a hyperlink is provided, ensure that it is not outdated and the relevant page can be accessed within two steps.

The evidence must indicate that the survey was conducted and whether it was undertaken internally or by an independent third party. It can be a sample survey or survey results reports with aggregated feedback. A blank survey template that is not accompanied by aggregated results is not appropriate evidence. The evidence must indicate that the survey was administered within the last 3 years.

The evidence must also indicate that the survey was administered within the last 3 years. If applicable, the evidence must also include the selected quantitative metrics.

Other: State the other quantitative metric. It is possible to report multiple other answers.

See Appendix 2a for additional information about GRESB Validation.

Scoring

1 point, S

Scoring is based on the number of selected options. It is not necessary to select all options to achieve the maximum score.

Percentage number: The coverage percentage reported is used as a multiplier to determine the assigned score.

Evidence: The evidence is manually validated and points are contingent on the validation decision.

Other: The 'Other' answer is manually validated and points are contingent on the validation decision.

See the Scoring Document for additional information on scoring.

Terminology

Net promoter score: The Net Promoter Score ® (NPS) is a customer loyalty metric developed by Bain & Company, Fred Reichheld, and Satmetrix. It divides customers, tenants or employees into three segments: passives, detractors and promoters, using the following question “On a scale of 0 to 10, how likely would you be to recommend this company (or this product) to friends and colleagues?” The Net Promoter Score ® (NPS) ratings of 9 or 10 indicate promoters; 7 and 8, passives; and 0 through 6, detractors. The NPS is the percentage of promoters minus the percentage detractors.

Overall satisfaction score: An overarching metric in a satisfaction survey, with no prescribed scale, that measures how happy an employee or tenant is with the entity, lease, and/or services provided. The industry best practice is a 1-5 scale - very poor, poor, average, good, and excellent, respectively.

Quantitative metric: Any measure or parameter in employee or tenant satisfaction that can be represented numerically.

Survey response rate: The proportion of substantially complete survey responses received as a percentage of the total number of employees or tenants invited to participate.

Tenant satisfaction survey: A written survey conducted by the landlord, managing agent or by an independent third party on its behalf, which gives the tenant the opportunity to provide feedback on the quality of the building, amenities and customer experience provided.

References

GRI Sustainability Reporting Standards (2016): 102-43, Approach to stakeholder engagement

Brain & Company, Introducing: The Net Promoter System®