Renters and the Leasing Decision - is price the most important factor? Discover the magic combination that matters most to renters today.

1. Part
2

2. Focus Group
Demographics
• 30 current renters
• ages 23 – 67
• 17 states
• 24 cities

3. When
deciding
to lease
Is price the most
important factor
for you?

5. Choose your
top 3
 Amenities
 Apartment Appearance
 Location
 Online Reviews
 Value

6. _ Amenities
_ Apartment Appearance
_ Location
_ Online Reviews
_ Value
Choose your
top 3
13
22
26
6
23

7. LOCATION
VALUE
APARTMENT

8. What we
learned
Location
• Safety, commute, conveniences
Value
• Affordable, will to pay more if it’s
worth it
Apartment
• Appearance, quality, and comfort

9. Making
Contact
After researching
online, what would
make you want to
contact the
community?

10. What we
learned
They want to see it all
• Photos, floorplans, amenities,
reviews and price
Easy to make contact
• Directly from your website
Lurking on social media
• Want to get a sense of the
community’s “personality”

11. Touring
the model
What do you think
about model
apartments?

12. What we
learned
Vacants are preferred
• Actual apartment #1 (4.60)
• Model apartment #14 (3.67)
Value in seeing their home
• Quality, space, view, location
Makes deciding harder
• Their apartment may not look as
good

13. Two
Communities
Same Price
What would make
you choose one
over the other?

14. What we
learned
It comes down to the reviews
• Main deciding factor
Sense of community
• How are residents treated by
management
• How do residents treat each other

15. First Visit
Leases
What would make
you lease on the
spot?

17. What we
learned
Cautious but would
• “Good value, location and
amenities in relation to the price;
affordable and offers everything I
want and residents have given it
good reviews.” ~Devi, 32 Lowell, MA
• “I don't know if I'd ever do that but
if I was blown away gorgeous with
a price you can't beat. ~Byron 51,
Collingswood, NJ

18. What we
learned
Absolutely not
• “That’s tough…there’s really
nothing. I want to compare at least
two places.” ~Kimo 40, Louisville, KY
• “I’ve done that before and I
regretted it after moving in.”
~Missy 33, Houston, TX

19. Key
takeaways
 Magic combo: location + value + apt
 Complete websites with an easy
way to make contact
 Vacants are preferred over models
 Reviews are most important at the
decision phase