Enter your email address for weekly access to top multifamily blogs!

Multifamily Blogs

This is some blog description about this site

Positive Review Peril: 5 Steps to an Authentic Online Story

Positive Review Peril: 5 Steps to an Authentic Online Story
Imagine you are planning to make a major purchase, let’s say a car for example.  You decide to check out a local dealership’s website and find nothing but 5-star ratings, hundreds of glowing reviews describing excellent service, and testimonials of loyalty from customers who are over-the-moon happy with their experiences.  At this point you’re feeling pretty confident that buying from this dealership would be a smart decision.  Or are you?  Human nature tells us a little skepticism is bound to seep in when something seems too good to be true. We’ve all been burned before; it would not be far-fetched to say in hindsight the situation at the beginning was in fact, too good to be true.  “I should have known better”…sound familiar?  Renters have also been burned before; some have spent an entire year or longer dealing with bad neighbors, inconsistent service, unresponsive management and more - none of which was depicted in the community’s marketing message.  In a previous post, I wrote people now value the written word over the actual score.  Scores, while still a prominent factor for management companies and communities, have become secondary to those seeking information.  Star ratings are following this trend as well.  According to Brightlocal’s Consumer Review Survey, 68% of respondents said they’d be willing to do business with a company that had at least a 3.5 out of 5 star rating.  Communities intent on projecting an all-positive image could be in peril.  Renters are not looking for perfection – they’re looking for authenticity.  If......
Continue reading
2745 Hits
0 Comments

Forget Your Rep, Worry About Mine!

Forget Your Rep, Worry About Mine!
Here’s a hard truth; residents could care less about the jobs that we do.  Residents have no clue what a day in the life of a multifamily professional entails.  I should know – I used to be one of them.  As a resident, I thought management teams had the easiest jobs in the world.  Planning parties, answering the phone, maybe showing an apartment here and there, how hard could that be?  You can only imagine how quickly and dramatically that theory was eviscerated the day I began working onsite. Management teams are a special breed.  At its core, teams do their very best to make sure residents are happy where they live.  Aside from putting in long hours, dealing with a multitude of different resident personalities and watching the bottom line to ensure owners are profiting from their investments, teams also have to contend with not-so-nice things being said about their performance in online forums. Reputation management has become prominent and prevalent in recent years.  Back in the day when I was leasing, very rarely would a prospect mention that our online reviews were the reason we were chosen over a competitor.  Nowadays, it’s commonplace for a prospect to outright take a community out of contention or sign on the dotted line squarely based on what they read online. Just as a community’s reputation is vital to its success, a resident’s own reputation can determine where they call the next year “home”.  Our SatisFacts Insite Q1 2016 analysis, released just 3 days ago, sug......
Continue reading
3033 Hits
10 Comments

Apartment Ratings, SatisFacts, and How This News Could Change the Multifamily Industry

For a long time, our industry has been in need of a reputational face lift.  From fighting the illusion of the “American Dream” to crime reporting that unfairly compares apartment living relative to single family housing, our industry has been constantly placed in a negative light relative to home ownership.  Adding to that reputational stigma was the always-frustrating Apartment Ratings that historically seemed more than content to let negative reviews flourish and fester, showing not just one community as a bad place to live, but casting a shadow over our entire industry in the process. For a long time, Apartment Ratings has been the dominant force when it comes to reviews of apartment communities, so when the site is overwhelmingly negative, it serves as a giant anti-marketing campaign for multifamily.  Essentially, the largest unbiased source of reviews is telling America that apartment living isn’t all that great.  Even if apartment prospects mentally adjust the reviews in anticipation of it being negatively biased, which I believe they do, it still affects their anticipated satisfaction level with apartment living as a whole.  No matter how much adjusting one does to account for the negative bias, an average score stuck on the south side of 50% harms the industry as a whole. But that was then, and this is now.  Apartment Ratings has recently made some very positive moves to engage with the industry and present a more balanced view within their ratings database.  Within that strategy, the parent company of Apartment Ratings, Internet......
Continue reading
5826 Hits
1 Comment