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With shoppers in all industries looking to peer reviews online before making buying decisions, it is only natural that the multifamily industry would feel the effects of the same trends. More than three-fourths (78 percent) of respondents use online rating and reviews in their apartment search. Prospects rank the influence of online ratings and reviews on their rental decisions at 6.94 on a scale of 1-10.
Our research highlights that over the years prospects are taking more and more notice of online ratings and reviews while scouting for their perfect home. In 2015 a good majority, 78 percent of respondents, reported using online ratings and reviews to gather information about the communities they were interested in, this is up five percent from 2012.
How much do these online ratings and reviews affect their rental decisions? On a scale of 1-10, they ranked influence at 6.94 in 2015, up from 6.67 in 2012. Up four percent, the effect of ratings and reviews on the rental decision is also showing signs of trending higher.
Source:
Marketing to Different Generations: Emerging Online, Language, and Lifestyle Trends, an extensive national research project by J Turner Research in partnership with Multifamily Executive. With 25,099 responses, the study drew participation from 18 companies and more than 500 properties.
