Grand City Properties launches tenant loyalty program with goal of achieving high standards in the digital area

Grand City Properties (GCP) has launched a tenant loyalty program. The program will continue to provide tenants with excellent customer service while goals have been set in digital area. GCP’s Head of Communications and Marketing, Katrin Petersen, shares details on the program and its goals.

What was the genesis to the tenant loyalty program?

Grand City Properties has a very high customer satisfaction rate of 97%. We want to continue with such a high rate of satisfaction and set the highest standards in tenant service. We also want to set high standards in the digital area. Satisfied tenants are long-term tenants. The GCP tenant loyalty program is a digital lighthouse project in the real estate industry. We have combined the loyalty program with the service app to make a customer’s digital journey seamless. 

How does it all work and benefit tenants?

Grand City Properties tenants collect loyalty points for completing activities in relation to their tenancy. The points are then converted into credits in their account. We want our loyal customers get something back for their patronage. The program is intended to build a positive spin-off effect. The program will rewards customers and promote various issues such as conserving energy and the careful handling of living space. The tenant loyalty program is an important part of our service app. Customers receive their initial loyalty points after a lease is signed. Points are then accumulated on an ongoing basis. For example, points can be earned for paying rent on time. 

What has the reaction to the program been like?

It has been well received by our customers. Almost 2,000 tenant households have collected GCP loyalty points. More and more tenants are getting involved. The program has hit a nerve with customers. We are continuing to evolve the program and add to it. For example, we want to make the loyalty points redeemable with third-party providers. 

In terms of digital offers, what can tenants expect from GCP?

We integrated the loyalty program with the GCP service app. It is now a part of GCP’s comprehensive digital customer service. In terms of digital areas, we offer virtual apartment tours and the option to sign leases digitally. Existing tenants have 24/7 accessibility with cell phone chat, regular digital tenant promotions, and the GCP app, which was introduced six years ago. The app provides digital maps that are important to the tenant processes. The service app has been downloaded approximately 37,000 times since start 2021. 

GCP is majority owned by the public company Aroundtown SA. Avisco, controlled by entrepreneur Yakir Gabay, holds over 10% in Aroundtown and Blackrock holds a 5% stake in Aroundtown. The group is made up of other key shareholders including Norges, Vanguard, Allianz, BNP Paribas, Japan’s Government investment fund, Aliance-Bernstein, Dekabank, State-Street, Bank of Montreal and many more. The main bond investors in Aroundtown include ECB, GIC, Union Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole and many more major international institutional investors.