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

Final modified on December 1st, 2022

At present’s residents worth an elevated residing expertise greater than ever. Our 2022 U.S. Resident Motivations report discovered that whereas 70% of survey respondents have been glad 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 will help you get a greater understanding of what they’re in search of and the way offering a optimistic expertise can result in larger 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 looking for their subsequent house. Think about using AppFolio advertising and marketing instruments like Skilled Web sites, self-guided excursions, or Lisa, the AI Leasing Assistant to take care of 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 like 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; proportion consists of debit/bank card funds (26%/22%), ACH financial institution transfers (20%), and app-based fee strategies similar to PayPal, Apple Pay, and Venmo (8%).

Findings: A brand new technology of tech-savvy shoppers count on their property administration know-how to maintain up with them, together with handy and straightforward methods to pay hire on-line. Think about using AppFolio On-line Funds to permit renters to pay their hire by means of their on-line tenant portal — from anyplace, on any gadget. 

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 Good Upkeep can streamline your processes, deal with any requests that are available irrespective of the time of day or night time, and supply prompt 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 could whole greater than 100% as a result of respondents might choose multiple 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 anyplace — 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 knowledge and instruments they want straight away. With your entire communications saved in a single system, you’ll be able to 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 in your residents and may increase your property’s worth. From smart-home know-how to group areas, residents enjoyment of facilities that present peace of thoughts. Nonetheless, discovering the precise integration and companions that work together with your property administration software program is usually a problem. AppFolio Stack™ provides you the facility to customise your key workflows, all inside our easy-to-use platform. Our companions embrace the highest proptech options available in the market, giving your enterprise a aggressive edge whereas enhancing productiveness and enhancing the resident expertise. 

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