2015 Online Renter Study - Jen Piccotti

1. @SatisFactsJen SVP Education and Consulting SatisFacts and ApartmentRatings.com
2. in 2011
3. were asked
4. Q. How does it make you feel if an apartment community staff member responds to an online review by a resident?
5. RESIDENTS- Ball State University Analysis PROSPECTS– 2015 Online Renter Study 2015 Online Renter Study and Ball State University Analysis
6. CHAT/QUESTIONS jpiccotti@satisfacts.com
7. THANK YOU FOR ATTENDING!

Editor's Notes

60.1% of all renters used a smart phone or tablet during their recent search – up from 26.3% in 2011
Companies need to ensure their websites are WAP-enabled and HTML5 coded (the only way Apple products can read websites, etc.) to allow smart phone and table users to view the website in the correct and ideal layout.
Nearly 70% search ILS or community website. Nearly 60% drive the neighborhoods. Nearly 50% use ratings and review sites. Referrals – just over 40%. Social networking sites – around 11% (down from 14%)
20% of residents follow apartment communities or property management companies on Facebook. Twitter – 3.2%, Instagram 2.6%, Pinterest 2.1%
Interacted with a property management/apartment community’s social networking site – 10.1%. The highest – 12.4 (25-34), Lowest – 3.5% 65+
Of those who had interacted - #1 – Ask a question, #2 – Compliment or Enter a contest
How important is it for an apartment community to have a social networking page like Facebook? 2.01 on scale of 1-5. Up from 1.92.
74.4% referrals from friends/co-workers, 67.7% online reviews, 32.6% company website., 11.8% trust ads, only 7.1% trust social media sites
Info Desired During Search: rents, specials, floor plans, features/amenities, availability and photographs , and now ratings and reviews.
Prospects continue to want to have all the information at their fingertips so that if they wanted to, they could make a rental decision on the spot, without having to visit. And 10% of prospects now do that!
Greatest impact on leasing decision
#1 Viewing actual apartment vs. #12 viewing furnished model
The community who can figure out how to show turned, move-in ready apartments both in-person and online will win the first-visit lease game. (Calculate the overall cost of your model units vs. average vacancy loss for unoccupied units.)
Email is the #1 Preferred method of contact, Cell phone is #2, and #3 is now Text Messaging
Do you have the capability to communicate via text with your residents?
61% of all renters are willing to post a positive rating/review - 15.8% were asked, up from 8% in 2011
50.3% would not trust a review site if all or most of the reviews were positive
52% - They have customer service, 49% - They really care about their residents, 29% - They are a trustworthy PM team, 28% - They offer a quality living experience, 11% - I don’t care if the staff responds
Very similar drivers in what matters most to Residents and Prospects

2015 Online Renter Study - Jen Piccotti

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