renter engagement Archives - Binary Fountain

Reputation Roundup: How Multifamily Property Managers Boosted Renter Feedback in 2019 [Infographic]

Renter surveys and online reviews hit record highs for Binary Fountain clients last year, pushing multifamily marketers to focus heavily on monitoring and responding to consumer feedback. With nearly 2 million renter reviews, 2019 brought significant increases in both the volume of online feedback and review responses.

Social media and third-party review sites produced nearly 150,000 more positive reviews than first-party renter surveys, incentivizing multifamily marketers to pay close attention to external feedback sources.

That’s no small change: The amount of review responses increased by 69% between 2018 and 2019. Not to mention, positive reviews for multifamily facilities outnumbered negative reviews five to one.

That positivity was reflected in consumer ratings throughout the year. Ratings of property managers steadily rose in 2019, with average Patient Feedback Scores, Facebook Reviews ratings and Google ratings all holding above 3.4 out of 5. Facebook’s 4.4 average rating was the highest of the three platforms last year.

Meanwhile, hundreds of thousands of comments were processed by Binary Fountain’s proprietary Natural Language Processing software, producing 2.5 million unique insights into consumer sentiment.

 

For all the insights and a peek into Binary Fountain clients’ 2019 results, download the infographic here.

Want to learn more about how Binary Fountain can give your multifamily organization’s online reputation a boost?

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Binary Fountain’s 2019 Renter Insight & Digital Engagement Survey

renter insight digital engagement surveyWhen it comes to finding an apartment, where do consumers look for information and who do they trust for advice?  

In our 2019 Renter Insight and Digital Engagement Survey, we asked more than 1,100 current and prospective renters to give us their perspectives on a variety of important topics, such as online reviews and listings, referrals, pain points and must-haves for a new apartment.

Using this e-book, property owners and managers can gain insight into what renters are thinking and learn about. 

Here are some of the biggest takeaways you’ll get from this ebook:

How renters search for and use information regarding apartments 

In the past, consumers had to seek out recommendations from family and friends or rely on word of mouth when seeking a place to rent.

Today, more consumers are going online to guide their search and help them make their final housing choice. From the survey, it was found that 96 percent of respondents considered online reviews and ratings when searching for a rental property and 85 percent also said they would consult online reviews even if they had been given a personal referral at the start of their search.

Without a doubt, the most influential online resources that renters turn to are review platforms.

How to maximize your reach and ensure your properties are well represented

Positive online ratings and reviews are not just a nice-to-have for today’s multifamily properties–they are essential for maintaining a healthy resident acquisition pipeline.

Our survey respondents told us that online ratings and reviews are among the first factors they consider when looking for a place to rent. Altogether, 85% of them indicated that they looked at online ratings and reviews at the beginning of their search or before choosing which apartments to visit.

More than half of our respondents indicated that they used online search engines to begin their apartment research, while 16 percent said they used an apartment listing site. A minority of respondents also consulted social media, ratings and review sites and property websites in their search strategy.

The biggest pain points for renters during the apartment search

When it comes to marketing to prospective residents, we wanted to know where property owners fell short. We asked our respondents to choose which tasks they found most frustrating about searching for a rental property.

Our renter insight survey identified issues related to customer service and the logistics of visiting properties as frustrating. However, the most frequent pain point for our survey respondents was finding accurate information online about the property–31 percent of respondents agreed this was their biggest issue with finding a rental property.

There are many more insights available to help you understand what potential renters are looking for!

Download this free ebook to see how you can take control of the online conversations already happening about your multifamily properties.

Download Your Free Ebook Here


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