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PART 1: 2019 Online Renter Study

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PART 1: 2019 Online Renter Study

  1. 1. Part 1
  2. 2. How many renters in 2019 said “yes”? Poll question
  3. 3. Did you use a smart phone or tablet during your most recent search for an apartment home? 2011 2015 2017 2019 26.3% 60.1% 67.5% 82.8%
  4. 4. This community has the best staff! Wonderful location, great maintenance 1 Love the community amenities This place is just alright, grounds need to be cleaner My neighbors are the worst! Reviews matter
  5. 5. v #1 Ratings/Reviews #2 Word of Mouth
  6. 6. Which do you trust more when deciding on an apartment community or management company? 2019 2017 Social Networks 22.2% 8.9% Company Websites 8.9% 35.8%
  7. 7. What this means… • Not all about website • Renters want authenticity and experience • Wisdom of the crowd needs to reinforce the online story
  8. 8. 2 Sight unseen = a shorter stay
  9. 9. Did you rent your current apartment without visiting the community? 14.4% 2019 2017 12.7%
  10. 10. Less than 1 year 1 to 2 Years 3 to 5 Years More than 5 Years 22.5% 14.3% 11.4% 16% Did you rent your current apartment without visiting the community?
  11. 11. What this means… • Renters are more comfortable doing up front research • Secure residents for 3 plus years • No connection with lease less than 1 year
  12. 12. 3 Engagement is a journey
  13. 13. Apartment community reviews Less than 1 year 1 to 2 Years 3 to 5 Years More than 5 Years 3.45 3.56 3.55 3.72 Less than 1 year 1 to 2 Years 3 to 5 Years More than 5 Years 16.9% 17.8% 13.9% 27% I have posted a positive comment on community’s social media page/AR How likely are you to share/rate/comment about your community experience?
  14. 14. Apartment community reviews Less than 1 year 1 to 2 Years 3 to 5 Years More than 5 Years 10.1% 9.4% 9.1% 6.7% Less than 1 year 1 to 2 Years 3 to 5 Years More than 5 Years 3.45 3.56 3.55 3.72 How likely are you to share/rate/comment about your community experience? I have posted a negative comment on community’s social media page/AR
  15. 15. What this means… • Sense of Community • Longer stay – feel a sense of community - positive comment • Shorter stay – no connection – negative comment
  16. 16. 4 Everything is important
  17. 17. Did you visit the current apartment community’s website before contacting the community office directly to speak with someone about renting 2019 2017 2015 Yes 84.5% 81.1% 78.5% No 15.5% 19.0% 21.5%
  18. 18. When Shopping for an Apartment, What is Most Important? 2017 Rents and specials 4.67 Apartment floor plans/design 4.61 Current availability of apartments 4.61 Photographs of the apartments and community 4.61 Information on the community’s apartments, facilities and location 4.58 Able to easily communicate with the apartment community staff 4.54
  19. 19. What this means… • Websites: one stop shop • More information, less marketing • Renters want to leave your website confident enough to make the next step
  20. 20. 5 Do social the residents’ way
  21. 21. What reasons would/do you use an apartment community’s social networking page? 1 Calendar of community social events and activities News/updates about the apartment community from the community staff 3 Provide feedback on your experience as a resident 4 Communication with the management team 5 Communicate with residents
  22. 22. What this means… • More eyes on the community when it comes to social media • Renters believe they can sense who you are through social media • Use social media to connect with your residents not prospects
  23. 23. KEY TAKEAWAYS
  24. 24. Key takeaways • Renters are more likely to do up front research • Websites should be a wealth of information, not advertisement; reviews are reinforcement • Renters want to start their offline journey with confidence due to what they learned online
  25. 25. Onsite Insites LIVE! See you next month!

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