I am writing to share with you a study which was recently published called “Getting Inside the Head of Today’s Online Renter”. This is a powerful study that has received great reviews – within the multifamily industry – for its insights that can be used to develop strategies for technology and communication adoption, brand development, and resident retention. The study was developed after surveying residents from 20 multi-family management companies with a collective potential rental pool of 82,000 residents. Just a few insights from the study, which you might find valuable, are:
Residents prefer to receive communication alerts regarding their community through email Over 89% of the residents surveyed indicated that their primary communication preference with their office staff is email. The second most important preference is cell phone followed by text messages. Only 13.3% of the residents surveyed indicated that they preferred snail mail as a communication preference.
Residents ranked quality of maintenance services as a primary decision when considering to renew their lease Regarding what impacts renewal decisions, issues relating to customer service significantly outranked every other factor (including “sense of community”, social activities and community facebook pages). Resident satisfaction with maintenance service was driven by: how promptly the request was handled; was the issue resolved right the first time; and if there were any outstanding issues.
Residents are willing to help enhance your online reputation if you ask them to The study indicated that across all age groups, a dramatic 62.5% of residents surveyed said they would post a positive comment or review on a website or external rating sites (i.e. apartmentratings.com) if asked by the property manager.
Overall, I would highly recommend reading the aforementioned study when you get the chance to get more information and insights on planning for today’s online renter. A copy of the report can be found through the following link: http://theonlinerenter.com/.