No fluff. No vendors. Just the facts. It’s the J Turner Research Summit. It’s data worth knowing, and it’s happening December 9-11 in Scottsdale, AZ.
Our 2015 national study, Marketing to Different Generations, involving 25,000-plus residents, frames the story of ratings and reviews in the multifamily industry. The report’s findings show that more than half (52%) of prospective apartment renters are turning to ratings and reviews at the beginning of their apartment search. In fact, other than location and price, ratings and reviews are among the first factors consumers consider in looking for an apartment.
When was the last time you tried a new restaurant without checking the reviews? Or made a big purchase without first checking the ratings? Consumers across industries rely more and more on what the world wide web has to say about a business or product, and it is increasingly becoming the same way when it comes to apartment communities. Multifamily Industry leaders have had to come up with methods to consistently garner positive feedback from residents on online review and internet listing sites.
Online reputation continues to grow in importance for the multifamily industry and properties benefit from a streamlined monitoring system. ORA™score is an aggregate compilation of a property's ratings across all review sites. Each month, we monitor the online ratings of more than 62,000 properties, nationwide, to assign ORA™ scores to each property. The national average ORA™ score is 56.87.
EdR is the number one student housing company in online reputation in the nation, with an impressive ORA™ score of 62.
In a candid conversation, Matt Sadler, Marketing Manager, EdR shared his expert insights into the company's policies and processes to communicate with Generation Z and to maintain a stellar online reputation.
The 2016 MFE Concept Community Study, The Next Gen Apartment, is a look to the future of the multifamily industry. The study takes a deep-dive into the technology, lifestyle, and design wants and needs of the youngest generation of renters, Gen Y, and the next generation, Gen Z.
Airbnb has shaken up the hospitality industry, giving guests new options for vacation and short-term rentals. As the Airbnb community grew in size and popularity, property managers were also feeling the effects of the “shake up.” New policies and leasing agreements were drawn up across several communities to address the allowance of the Airbnb model and short-term renting. But what about how long-term renters feel about the changes?
Closet space is a precious commodity for any renter. In fact, we found that in-unit storage space is such a desired design feature that nearly half of all renters (49%) are willing to pay at least $75 more per month for larger closets (10 feet by 6 feet) rather than try to squeeze their belongings into standard-sized closets (4 feet by 6 feet) for lower monthly rent.
To talk to your residents, you have to know where they are. Insights into where residents are spending their time online will influence your marketing and community outreach messaging.