Attract and retain residents with new renter insights

•

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New data reveals that nearly 60% of leases will expire over the next 12 months, and roughly 30% of renters are already searching for a new home. With over 1,000,000 rental units under construction — half of which will open soon — 2023 is shaping up to be a renter's market. Against this backdrop, attracting and retaining residents is vital. When almost half of renters cite “seeking a better property manager" as a reason to relocate, property management businesses must address residents’ needs. To learn how, take a deep-dive into key findings from the 2023 AppFolio Property Manager Renter Motivations Report and gain actionable insights for providing standout service that attracts and retains residents.

Technology

Attract and
retain residents
with new
renter insights
Presented by: James Erickson
Hosted by: Jenny Domash
May 25, 2023

3 2023 © AppFolio, Inc. Conﬁdential
As an attendee:
● Lines are muted, but your participation via chat is encouraged!
● Please ask questions via the chat or Q&A module
● Stick around for a bonus Q&A session at the end of the hour
● Let us know how we did via the post-webinar survey
● The recording will be sent to you

4 2023 © AppFolio, Inc. Conﬁdential
james.erickson@appfolio.com
Market Intelligence Lead, AppFolio
James Erickson
Presenter

5 2023 © AppFolio, Inc. Conﬁdential
Introduction
PMs will need to compete more for renters in
2023 than they have in recent years.
Improving satisfaction is one of the factors to
help PMs retain and attract high quality
renters.

6 2023 © AppFolio, Inc. Conﬁdential
Have you seen your occupancy
rates increase or decrease in
the last year?
Poll

7 2023 © AppFolio, Inc. Conﬁdential
How satisﬁed are
you with your current
property manager?

8 2023 © AppFolio, Inc. Conﬁdential
What do you
plan to do when
your current
lease expires?

9 2023 © AppFolio, Inc. Conﬁdential
What are the main
reasons you are
considering
moving to a
diﬀerent rental?

10 2023 © AppFolio, Inc. Conﬁdential
What are the
main reasons
you are thinking
about renewing
your lease?

11 2023 © AppFolio, Inc. Conﬁdential
Where do you
typically search for
a new rental unit?

12 2023 © AppFolio, Inc. Conﬁdential
How important are
each of the following
when you evaluate a
rental before signing
a new lease?

13 2023 © AppFolio, Inc. Conﬁdential
How can you
better attract
and retain
renters?

14 2023 © AppFolio, Inc. Conﬁdential
Do you pay
rent online?
What are some of the beneﬁts you
experience by paying your rent online?

15 2023 © AppFolio, Inc. Conﬁdential
Approximately what
percentage of your renters
pay rent online?
Poll

16 2023 © AppFolio, Inc. Conﬁdential
What are some of the
reasons you don’t
pay your rent online?

17 2023 © AppFolio, Inc. Conﬁdential
Availability of
Payments Services

18 2023 © AppFolio, Inc. Conﬁdential
Importance of
payment services
(by age group)

19 2023 © AppFolio, Inc. Conﬁdential
% agreeing with
the following
statements about
their PMs

20 2023 © AppFolio, Inc. Conﬁdential
Time to resolve
maintenance
issues is critical to
renter satisfaction

21 2023 © AppFolio, Inc. Conﬁdential
How quickly do you typically
resolve maintenance issues?
Poll

22 2023 © AppFolio, Inc. Conﬁdential
How satisﬁed are you with your current property manager
in the technology they make available to you?

23 2023 © AppFolio, Inc. Conﬁdential
Takeaways

24 2023 © AppFolio, Inc. Conﬁdential
24
Clarity to focus
on what matters

25 2023 © AppFolio, Inc. Conﬁdential
Ask us anything.
25
Questions?

26 2023 © AppFolio, Inc. Conﬁdential
Thank you ✌

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Attract and retain residents with new renter insights

2. Attract and retain residents with new renter insights Presented by: James Erickson Hosted by: Jenny Domash May 25, 2023

3. 3 2023 © AppFolio, Inc. Conﬁdential As an attendee: ● Lines are muted, but your participation via chat is encouraged! ● Please ask questions via the chat or Q&A module ● Stick around for a bonus Q&A session at the end of the hour ● Let us know how we did via the post-webinar survey ● The recording will be sent to you

4. 4 2023 © AppFolio, Inc. Conﬁdential james.erickson@appfolio.com Market Intelligence Lead, AppFolio James Erickson Presenter

5. 5 2023 © AppFolio, Inc. Conﬁdential Introduction PMs will need to compete more for renters in 2023 than they have in recent years. Improving satisfaction is one of the factors to help PMs retain and attract high quality renters.

12. 12 2023 © AppFolio, Inc. Conﬁdential How important are each of the following when you evaluate a rental before signing a new lease?

14. 14 2023 © AppFolio, Inc. Conﬁdential Do you pay rent online? What are some of the beneﬁts you experience by paying your rent online?

22. 22 2023 © AppFolio, Inc. Conﬁdential How satisﬁed are you with your current property manager in the technology they make available to you?

Attract and retain residents with new renter insights

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