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How can Pinacl’s Digital Property Management Solution be used as part of a Tenant Incentive Scheme (TIS)?

Pinacl's IoT Solution will transform property management as we know it!

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Our solution is based around gathering data which then feeds back onto a dashboard. The primary aim is to give housing providers and landlords as much visibility into the health of their property as possible. As well as being accessible to landlords, the dashboard can be accessed by tenants, giving them the opportunity to see how their well house is performing and to be notified of any necessary corrective actions.

This could be used as part of a TIS, whereby the tenant is required to maintain good property health in order to receive recognition and rewards. Incentives could include: Good tenant policy to reward tenants who comply with their tenancy agreement: paint kit, gardening vouchers, increased amenities, or ‘Tenant of the month’ competitions.

Schemes like Gold Star could incorporate the dashboard readings to help reward tenants who contribute to maintaining good property health, or for tenants that should an issue arise, would follow the corrective actions to resolve it. Those tenants who comply with the terms of their tenancy agreements could be made eligible for an ‘upgrade’, so should a more desired house become available they would get priority.

The TIS could enable tenants to receive entitlements such as vouchers for shopping outlets or supermarkets, fast track repair services, rent discounts, monthly prize draws.

Tenants who join the Scheme but break the conditions of their tenancy (for example by non-payment of rent, negatively impacting the health of the property/ not following corrective actions, or anti-social behaviour) can be excluded from the Scheme.

Tenant Incentive Schemes have been found to contribute to decreased rent arrears, to more satisfied tenants and to the lower rate of evictions, meaning that the percentage of rent collected has increased and the percentage of properties that are empty has declined.

Interventions such as TIS suggest that attitudes within the social housing sector are shifting, with a greater expectation that tenants engage, contribute and/or take responsibility.

The data collected as part of our Digital Property Management Solution would enable clear visibility into the health of each property, so that landlords and housing providers can identify which houses are performing well and which tenants are not complying or struggling to comply with their tenancy agreement. Should a tenant dispute not complying with corrective actions or disagree with the status of their property health then the data will form as evidence for this.  

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