At ApartmentRatings & SatisFacts, our mission is clear: we’re committed to providing verified data, valuable education, and actionable strategies to property management companies to achieve their resident satisfaction and retention objectives, while also offering a transparent review platform where renters can access accurate information about the communities they’re considering for their next home.
Since its founding in 2000, ApartmentRatings has become the most comprehensive and trusted resource for renters nationwide and we want to take this opportunity to verify the information about our data.
ApartmentRatings Review Sentiment Is On The Rise
Review sentiment on ApartmentRatings has continued to grow over the years. Having the only platform that provides a direct internal survey to online renter automation service, our SatisFacts resident surveys combined with the Verified Resident Program have helped communities see significant improvements in review volume and sentiment from verified renters after completing a survey.
The Review Sentiment chart below indicates a 2.5% rise in resident sentiment since 2021 among nearly 600,000 reviews nationwide. This upward trend corresponds with the Survey Sentiment chart, which portrays how surveys can uncover operational challenges that contribute to negative resident sentiment. Once these challenges are identified and resolved, there is a substantial increase in review sentiment. In other words, our internal resident surveys play a vital role in improving the overall resident satisfaction score as well as enhancing online review sentiment.
Unveiling the Narrative Behind the Data
The catalyst for this positive change comes directly from our industry’s realization of the inherent value of first-party data (internal surveys) to enhance and drive marketing and operational strategies. As a leading multifamily survey partner, and the only consumer-facing review platform dedicated to renter reviews, what we know to be true about first-party data is that onsite experiences are strongly correlated to online reputations; a concept we were the first to talk about over 10 years ago and have continued to champion.
At SatisFacts, we have noticed a growing number of management companies leveraging resident surveys and seeking more data and touchpoints to request feedback from residents. Additionally, they are expanding the types of surveys utilized such as FLEX (pulse surveys) and incorporating additional modules such as Unclosed Traffic and Pre-Renewal, to gain deeper insights and improve the overall customer journey.
The bottom line is that as companies continue to better understand their renters and leverage their feedback to elevate their customer service, streamline operations, and enhance the overall living experience, it is reflected in improved review sentiment.
Ensuring Accurate Data in the Multifamily Industry
The multifamily industry often relies on data regarding review volume, sentiment, and relationships among review providers to stay informed. However, it’s crucial for third-party organizations to ensure the accuracy of the data they share about other providers. At ApartmentRatings & SatisFacts, we take pride in being a trusted multifamily provider of renter review and survey feedback data. That’s why we’re committed to being cautious about who we share our data with and where it’s shared.
We want to clarify that we do not have integrations with third-party providers for our reviews on ApartmentRatings. Any third-party report that includes ApartmentRatings review volume or sentiment data without proper attribution is likely to contain erroneous information. It’s essential for consumers to be aware of the potential for fraud or incomplete/ inaccurate data when the information does not come directly from the source or is not cited as reviewed or approved by the source. At ApartmentRatings & SatisFacts, we prioritize accuracy and transparency in all our data sharing practices.
Insights on the Future of Data in the Multifamily Industry
Our ongoing commitment to data-driven insights and authenticity has profound implications for the multifamily industry. According to consistent findings from the SatisFacts Biennial Online Renter Study, renters place the utmost significance on reviews from the past 12 months. Thanks to the epIQ Index, which measures renter sentiment on a rolling 365-day calendar, we can confidently say that renters have access to the most valuable and authentic information that provides a comprehensive view of the experience and performance of communities on ApartmentRatings.
Our first-party data and award-winning education team have been instrumental in supporting the multifamily industry. Together, they empower our partners to make well-informed decisions and reap the economic benefits of improved satisfaction levels by understanding their renters and employees’ feedback. Through our survey and reputation solutions, clients continue to achieve their resident engagement and retention goals, reduce vacancies, and create satisfied renters who are eager to share their positive experiences on top review platforms like ApartmentRatings.
Overall, our commitment to authenticity and data-driven insights has helped improve the experiences of both renters and property management companies. We are excited to continue this important work as we look ahead, further elevating the multifamily industry’s standards and enhancing the relationships between renters and communities.