ESR-REIT Annual Report 2024 139 2024 Performance: Tenant Satisfaction ESR-REIT’s annual tenant satisfaction survey We track tenant satisfaction rates through an anonymous survey to understand the needs of our tenants and identify areas of improvement. The survey is conducted by an independent third party which allows tenants to feedback on their experience with the property management team, leasing team and finance team, and includes a net promoter score. 2023 2024 Tenant Satisfaction Rate 78.0% 78.2% The FY2024 tenant survey data only accounts for responses from the Singapore and Japan portfolios. Australia portfolio was excluded as the survey was conducted anonymously across the ESR Australia portfolio instead of ESR-REIT arising from the recent integration. Therefore, the results cannot be analysed in relation to properties held by ESR-REIT only. The survey method will be improved in 2025 to ensure coverage of the entire portfolio. The FY2024 tenant satisfaction rate is slightly below our new target of 80.0%, but remains consistent with FY2023’s score of 78.0%. This may have been influenced by the Service Charge increase implemented for the Singapore portfolio in 3Q2024, which coincided with the Tenant Satisfaction Survey. The updated target in FY2024 is a stretch target that challenges us to continuously improve and serve our tenants better. ESR-REIT is committed to enhancing engagement with tenants to improve relationships and to obtain and gather feedback on our services and assets through a series of planned tenant programmes such as Chinese New Year tenant lunch, OktoberFest and Durian Party.
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