Sunday, May 21, 2023
HomeProperty ManagementResidents by the numbers: what they need and actually care about

Residents by the numbers: what they need and actually care about

Final modified on April fifth, 2023

Immediately’s residents worth an elevated dwelling expertise greater than ever. Our 2022 U.S. Resident Motivations report discovered that whereas 70% of survey respondents had been happy with their property administration firm; simply 24% say that they’re prone to advocate their property administration firm.

We’ve pulled collectively some resident stats that can assist you get a greater understanding of what they’re in search of and the way offering a constructive expertise can result in better retention and satisfaction. 

Advertising and marketing & Leasing:

26% of renters said they would prefer a self-guided tour during their next rental search

73% of renters said they would not rent a home without physically visiting the property in person And after touring the property, 37% of renters said that it took them two weeks or less to sign a lease for their new home NMHC 2022

Findings: It’s clear that residents worth know-how when trying to find their subsequent house. Think about using AppFolio advertising instruments like Skilled Web sites, self-guided excursions, or Lisa, the AI Leasing Assistant to keep up a wholesome leasing pipeline and a frictionless expertise for residents and prospects. 

Accounting & Reporting:

In 2021, 52% of renters typically paid their rent online, compared to to 36% in 2018 Zillow 64% of Gen Z (18-26) 51% of Millennials (27-41) 41% of Generation X (42-56) 38% of Boomers/Silent Gen (57+)

  • 76% of renters would favor to pay their hire electronically by way of debit/bank card, ACH switch, or app-based strategies
    2022 NMHC/Grace Hill Renter Preferences Survey Report; share contains debit/bank card funds (26%/22%), ACH financial institution transfers (20%), and app-based fee strategies corresponding to PayPal, Apple Pay, and Venmo (8%).

Findings: A brand new era of tech-savvy customers anticipate their property administration know-how to maintain up with them, together with handy and simple methods to pay hire on-line. Think about using AppFolio On-line Funds to permit renters to pay their hire via their on-line tenant portal — from wherever, on any machine. 

Upkeep & Effectivity:

Around ⅓ of all renters in the U.S. say faster resolution of maintenance requests and proactive communication have become more important during the pandemic

Findings: Managing upkeep is demanding and time-consuming. Utilizing automation instruments like Sensible Upkeep can streamline your processes, deal with any requests that are available in irrespective of the time of day or night time, and supply immediate visibility into your upkeep workflow.

Communication & Service: 

62% of young renters say that apartment technology is extremely important to them when searching for a new home

  • 91% of renters say that they like emails when receiving common info from their property administration firm
    2022 NMHC/Grace Hill Renter Preferences Survey Report; percentages present the p.c of respondents that chosen a number of reply choices. The sum of the chances might complete greater than 100% as a result of respondents may choose a couple of possibility. 
  • 44% of renters say that they want to obtain weekly communication from their property administration firm relating to non-emergency property info
    2022 NMHC/Grace Hill Renter Preferences Survey Report

When it comes to online reviews, 58% of prospects prefer a response within 72 hours that offers a solution

Findings: Being responsive, accountable, and linked — from nearly wherever — is what issues most to residents. Present a stand-out expertise utilizing cell communication instruments. Our on-line portal empowers residents with a one-stop-shop for the data and instruments they want immediately. With all your communications saved in a single system, you possibly can simply and rapidly contact residents from inside AppFolio.

Resident way of life

27% of renters say that the biggest benefit of renting is because of the lifestyle amenities offered

80% of renters would prefer to have package lockers for their belongings, versus a package room

Findings: Facilities add a contact of luxurious to your residents and might enhance your property’s worth. From smart-home know-how to group areas, residents enjoyment of facilities that present peace of thoughts. Nonetheless, discovering the suitable integration and companions that work along with your property administration software program could be a problem. AppFolio Stack™ offers you the facility to customise your key workflows, all inside our easy-to-use platform. Our companions embody the highest proptech options out there, giving your corporation a aggressive edge whereas enhancing productiveness and bettering the resident expertise. 

To be taught extra about how one can improve your resident expertise, check out our free information beneath.

Customer experience guide



Please enter your comment!
Please enter your name here

Most Popular