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Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
Apartment Finder Study of Renters
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Apartment Finder Study of Renters

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Study examing the attitudes and media usage of people hunting for an apartment

Study examing the attitudes and media usage of people hunting for an apartment

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  • Need interview specifics from Lenny
  • Need interview specifics from Lenny
  • Need interview specifics from Lenny
  • Need interview specifics from Lenny
  • Need interview specifics from Lenny
  • Need interview specifics from Lenny
  • Need interview specifics from Lenny
  • Need interview specifics from Lenny
  • Need interview specifics from Lenny
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  • Transcript

    • 1. ApartmentApartment Renters:Renters: ApartmentApartment Renters:Renters: Shopping for an Apartment Community Shopping for an Apartment Community Research Conducted by FGI Research
    • 2. Apartment Renters’ Study 2 The W’s of S E A R C H Who…are today’s apartment shoppers and residents? What…do today’s shopper’s want (and expect!) online? When…do they surf and for how long? Where…are they shopping online? Why and how…do shopper’s search the web? ApartmentFinder.com
    • 3. Apartment Renters’ Study 3 Respondent Profile These respondents use and often rely upon information sources, such as rental publications / magazines and the Internet, in their search for a new apartment community. These users are our primary target. Typically in their mid-30’s and single. Most have attended college and are employed full-time. Median household income is approximately $36-$38K. Most live in a garden apartment. Willing to pay more for something they really want. Take their time making important decisions. Like to live close to where they work – within 5 miles. Like to keep abreast of the latest technology. They are more likely to make a purchase if they like a salesperson. Willing to spend more to live in a community that has extras. Targeted Media Users
    • 4. Apartment Renters’ Study 4 Non-Targeted Media Users:  Most considered moving to be closer to family.  They also preferred a smaller home and considered moving for health reasons / due to illness. Top Reasons for Moving Lower-Level Income:  Primary reason for moving was to saving money. Higher-Level Income:  Their main reason for moving was to upgrade to a larger apartment. Among all renters, the #1 reason for moving / thinking about moving: Saving Money Targeted Media Users:  Their main reason for moving was to save money.  Significantly more media users said they were moving to be closer to work or schools.
    • 5. Apartment Renters’ Study 5 Primary Sources Used in the Apartment Search  There is significant overlap between rental publications and use of the Internet among Targeted Media Users. 70% of Targeted Media Users used rental pubs when looking for an apartment 80% used the Internet.  Responses suggest that rental publications send shoppers to the Internet for more information. Shoppers’ Top Four Sources: •The Internet •Locator Services •Rental Information Publications •Word of Mouth
    • 6. Apartment Renters’ Study 6 Usefulness of Targeted Media Source Targeted Media Users Non-Targeted Media Users Lower-Level Income Renters Higher-Level Income Renters Rental Publication 88% Do Not Use 87% 88% The Internet 94% Do Not Use 80% 97% The vast majority of shoppers who used targeted media said those sources were extremely, very, or somewhat useful in their search for an apartment home. High and low level incomes use targeted media. Usefulness of Targeted Media  Among all sources used, which was the most useful?  Targeted Media Users cited the Internet and Rental Publications.
    • 7. Apartment Renters’ Study 7 Specific Targeted Media Used: Rental Publications Target Media Users are closely split between Apartment Finder and Apartment Guide Followed by For Rent.  Targeted Media Users most often use publications to: Compare prices Locate apartment communities in the area Compare apartment features.  While the majority of users primarily rely on both Apartment Finder and Apartment Guide for price comparisons, more users prefer Apartment Finder to compare community amenities and to identify specific communities to visit. The two most commonly used rental publications: Publications are used to serve a number of purposes.
    • 8. Apartment Renters’ Study 8 Specific Targeted Media Used: Rental Publications  51% of all Targeted Media Users said they called the telephone number listed in the publication.  Another 43% said they visited the property.  Nine in ten – 90% of Targeted Media Users were satisfied with the response they received from telephoning the apartment community.  Almost 30% of respondents viewing rental publications reported going to an apartment web site after seeing it in the magazine. 86% of Targeted Media Users say they were extremely or very satisfied with information found in rental publications
    • 9. Apartment Renters’ Study 9 Specific Targeted Media Used: Rental Publications Publications effectively and positively impacted the Targeted Media Users’ search for a new apartment home.  71% percent of users agreed that the apartment rental magazines gave an accurate view of the apartments or communities they visited.  80% percent of users agreed that the apartment rental magazines gave a useful understanding of the apartments and communities they visited.  More than 7 out of 10 (70%) Targeted Media Users have found or believe they will find their apartment home in a rental information magazine.
    • 10. Apartment Renters’ Study 10 Specific Targeted Media Used: The Internet  Over half of all renters surveyed said they used the Internet as a resource in their search for apartment homes:  Search engines drew the most traffic – 50% of Targeted Media Users  Almost 40% of Targeted Media users went to specific websites. (typing in a specific url : www.apartmentfinder.com)  ApartmentFinder.com was the most frequently mentioned specific website to locate an apartment home.  Rent.Com and ApartmentGuide.com were the second and third most commonly used. The top search engine mentioned was Google, used by 72% of those who used a search engine to locate an apartment home.  Yahoo came in second, used by 26% of shoppers using a search engine.
    • 11. Apartment Renters’ Study 11 Specific Targeted Media Used: The Internet, cont.  The average Targeted Media User spent approximately 12 hours looking for an apartment via the Internet. Higher-Level Income Renters spent an average of 13 hours. Lower-Level Income Renters spent 8 hours looking online for an apartment  ApartmentFinder.com has a strong stickiness factor – meaning prospects spend more time on Apartment Finder’s web site. Average is 9-10 minutes.
    • 12. Apartment Renters’ Study 12 Specific Targeted Media Used: The Internet Satisfaction with using the Internet as an information resource was high. • 94% of Targeted Media Users said they were extremely or very satisfied. Rich Online Content Drives Activities to Properties •Most users were prompted to call apartment community’s telephone number •Inclined to drill down to the community’s website page and view photos, floor plans, get driving directions •Want key information to help them make a decision on which communities to visit in person (rental rates, amenities of unit, amenities of property) • 96% said that logging onto an apartment website was very helpful in deciding to visit a community in person. The Internet was a helpful tool in driving Target Renters to apartment communities
    • 13. Apartment Renters’ Study 13 Appealing to the Renters In an advertisement for an apartment, certain elements appeal to different prospective renters. Respondents say price is the number-one factor in rental decisions, regardless of the type of shopper. Here’s what stands out (besides price) to our primary targets: Targeted Media Users Higher-Level Income  Amenities / features / details  Uniqueness of Floor plan / layout  Photos  Area / location / neighborhood and
    • 14. Apartment Renters’ Study 14 Likelihood of Using Features Some amenities offered by apartments/communities are more important to prospective renters than others. The top five amenities that our targets would “definitely” or “probably” use are: Targeted Media Users Higher-Level Income 1. Swimming pool 2. Onsite gym or fitness center 3. Valet garbage removal 4. On-site business center 5. Private movie theaters and 1. Valet garbage removal 2. Swimming pool 3. Onsite gym or fitness center 4. On-site business center 5. Private movie theaters How the message is delivered is important!! A person is more likely to lease if they like the leasing specialist.
    • 15. Apartment Renters’ Study 15 Essential Features & Amenities When it comes to finding a place to call home, the renters with higher incomes and more access to information have more demanding tastes and preferences. When deciding which apartment to rent, our targets take into highest consideration: Targeted Media Users Higher-Level Income 1. Monthly rent 2. The size of rooms 3. Amount of closets or storage space 4. Floor plan (any unique) 5. Cable- or wireless-ready apartment and Other important elements—  Number of bathrooms A private patio or terrace If you have it – Brag about it!!

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