How Origin users were able to reduce their tenant arrears by just over 50% in 1 week!

How Origin users were able to reduce their tenant arrears by just over 50% in 1 week!

Think back to the last SMS reminder you received. Did it do what it was sent to do? This begs the question, how effective are they? 

 

A recent survey carried out by bill payment company PayPoint found that 57% of tenants were opposed to phone calls, with 62% indicating text message would be their preferred method of contact. 

 

It is a timely reminder of how things can change quickly, it doesn’t really seem that long ago that we were sending out bulk rent arrears letters in the mail along with circulars going out by email..some may still be doing it this way but the news is out people.. there is a strong argument that a simple and fast text message will have a greater effect. 

 

In our opinion, a layered approach is always a good strategy, combining the tried and tested methods of letters and emails along with SMS reminders, will ensure you are covering every base when it comes to getting the results you are after. After all, we do need to consider that 14% of adults surveyed in the UK in 2019 did not use email at all, whereas according to Statista 95% of households in the UK have at least one mobile phone. 

 

Did you know that there are rent templates pre-loaded into Origin for arrears correspondence with tenants – a real time-saver when you are taking this layered approach! 

 

The stats speak for themselves, SMS communication is faster, more efficient and more welcomed when it comes to communicating with your tenants. At least 99% of SMS messages are read by the recipient.. if this isn’t an impressive conversion rate then I don’t know what is! 

 

To really test this theory, we ran some stats of our own in Origin this month and the results were pretty impressive! During the month of September, nearly half of all tenants who were notified by text message in Origin that their rent was in arrears made a payment within 7 days. That was nearly 50% of arrears cleared within 7 days! Imagine the impact on your office KPIs if the portfolio rent arrears were to reduce by this amount within 1 week! 

 

So there you have it, if you haven’t been using SMS reminders then we would recommend you start doing so pronto.. Just head to your Origin account and you will find your SMS bundle options under the Control Panel tab, trust me when I say.. you won’t regret it! 

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