By now, owner/operators understand the consequences of ignoring ratings and reviews. They are here to stay, and their impact is exponentially increasing.

While more and more owner/operators are making the effort to respond to reviews and finding ways to generate positive ones, there is a second tier to the equation: Ratings and reviews can be used as a marketing research tool.

Here’s how:

Large-scale owner/operators that receive multiple reviews per day can use the data as market research. While some resident reviews undoubtedly will allude to specific, one-time problems, the idea is to diagnose particular themes across an entire portfolio.

For instance, if parking is a common complaint spanning several communities, the owner/operator can take an organization-wide look and devise a plan to alleviate concerns. While it might be too late for certain properties, that data is still beneficial in that it encourages a proactive approach to create more parking space at soon-to-be-constructed properties. 

Perhaps pet waste is a widespread complaint. With DNA testing becoming more prominent—yes, many communities now gather the DNA of dogs belonging to new residents—it could raise the question as to whether using the technology to diagnose the offenders would be beneficial on a companywide basis. Simply having staff clean up the waste trains pet owners that it is OK to leave it behind.

Another common complaint is pricing. It is natural for residents to bemoan a rent increase, but that doesn’t mean the only way to stop the influx of grievances is to re-adjust the price. Instead, communities might opt to educate residents on local demand and market value of the property by comparing it to others in the area. This approach can at least provide residents with the logic behind the increase.

Other typical concerns, such as noise level and how quickly maintenance can fulfill a service request, also can be attacked on a portfolio-wide basis if the issues appear consistent and wide-ranging.

Positive and neutral reviews can also be used in a market research capacity. Perhaps residents laud the quality of fitness centers at the communities, but many just wish they were open 24 hours. That might prompt an owner/operator to consider the feasibility of keeping it open around the clock.

Before you can use review content as market research, you might need to increase the number of reviews your communities receive through resident surveys or simply encouraging your residents to post reviews. Communities that actively solicit reviews are ahead of the curve here. The more verified reviews, the clearer the community-wide issues are, whether positive or negative. Plus, proactively asking for reviews also increases the likelihood happy residents will post reviews. 

While ratings and reviews previously were viewed as insignificant, and to some, an annoyance, their power can be harnessed and transformed into tangible benefits for owner/operators.