Bouwmeester, Sven (S.D.J) (2022) Tenant satisfaction and the investment performance of Dutch Real Estate. Master thesis.
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Abstract
The real estate industry is transforming into a more customer-oriented world. Real estate investors who engage in tenant satisfaction programs may benefit from higher tenant retention and a willingness to pay higher rents. However, the direct link between tenant satisfaction and the investment performance of a real estate investor is barely reviewed in the literature. This study provides new insights based on linking excess returns of institutional investment data and satisfaction ratings. The regression analysis of tenant satisfaction on excess returns suggests that no effect can be noticed. The following discussion provides arguments for this result that were not fully covered in the literature. Namely, modernization, high demand for premium buildings, and the acceptance of low returns for proper locations which may bring investor returns down, leading to insignificant regression results. Finally, a deeper inspection of the data indicates that dissatisfied clients tend to leave their property relatively more often, which has the potential to impact vacancy rates and investor returns.
| Item Type: | Thesis (Master) |
|---|---|
| Degree programme: | Real Estate Studies |
| Supervisor: | Daams, M.N. |
| Date Deposited: | 23 Sep 2022 11:56 |
| Last Modified: | 23 Sep 2022 11:56 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/4045 |
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