We want to congratulate everyone on their 2021 achievements in awards for both SatisFacts and ApartmentRatings. As we all know, there has been huge growth in the multifamily industry and resident satisfaction is more critical than ever.
Over the years, we have been monitoring our metrics for resident satisfaction, and while management companies and onsite teams have moved to provide quality service to their residents – our measurements for excellence have not adjusted to align with that higher level of performance.
For 2022, we are modifying the awards criteria for SatisFacts Annual and Insite Survey awards and ApartmentRatings Top Rated awards. Please read these changes carefully, review your current standing in regards to the new awards criteria, and reach out to our education team if you feel an action plan would help your company and/or communities to stay on target to earn awards for 2022.
SatisFacts Survey Awards Criteria Change
In previous years, an overall score of 4.00 would qualify companies and communities to earn a SatisFacts award (in addition to meeting the minimum survey requirement). In 2021, we administered over 2.5 million surveys resulting in a 4.39 overall SatisFacts Index. As of 2022, the SatisFacts Index currently stands at 4.38; further proof of the need to make adjustments to our awards criteria to recognize those performing at a consistently high level.
SatisFacts Awards Criteria for 2022:
To earn a Company Award:
- Annual Survey: Minimum overall score: 4.25 and 100 completed surveys.
- Insite Survey: Minimum overall score: 4.25 and 100 completed surveys for all modules under contract with the exclusion of Move Out and On Notice surveys.
Companies earning a 2022 SatisFacts Award will receive a trophy delivered to the corporate office. Digital award logos will also be available in Exchange.
To earn a Community Award:
- Annual Survey: Minimum overall score: 4.25 and 25 completed surveys.
- Insite Survey: Minimum overall score: 4.25 and 25 completed surveys for all modules under contract with the exclusion of Move Out and On Notice surveys.
Communities earning a 2022 SatisFacts Award will receive a window cling. Digital award badges will also be available in Exchange.
ApartmentRatings Top Rated Awards Criteria Change
The epIQ Index (Experience and Performance Intelligence Quotient) is the most authentic, relevant, and actionable resident experience and community performance data metric in the multifamily industry. With that in mind, to consider a community as “top rated” on ApartmentRatings, we must align our standards for what a truly epIQ community looks like.
As companies and communities across the nation continue to raise the bar for their standard of excellence, we must also raise the bar on our end to recognize those who are the best of the best when it comes to delivering a top rated experience.
ApartmentRatings epIQ Top Rated Awards Criteria for 2022:
To earn a community award:
- Community must have at least 5 new reviews in 2022
- Community must have an A+ overall epIQ Grade at time of awards calculation
- *The epIQ Index is subject to change daily. Award determinations are made based on the community’s epIQ grade as of the last day of the calendar year.
Communities earning a 2022 ApartmentRatings Top Rated Award will receive a window cling. A newly designed “A+” epIQ Top Rated digital award badge will be available in Exchange.
Updates to the epIQ Index Rankings for 2022
In addition to the SatisFacts Awards and ApartmentRatings epIQ Top Rated Awards, we will continue to acknowledge the highest ranking companies and communities in the epIQ Index.
Company level distinctions:
- The top 100 management companies in each portfolio size category will be ranked in our Biannual Report, which will be published in January 2023.
- A newly designed “epIQ top 100” digital badge will be available in Exchange.
- The top 10 management companies in each portfolio size category will be recognized in the live announcement planned for January 2023.
NEW for 2022: The top 10 management companies in each portfolio size category will receive a trophy delivered to the corporate office.
Community level distinctions:
- All epIQ Top Rated communities nationwide will be ranked in our January 2023 Biannual Report, which means it will not only showcase the Top 250, but all communities with an A+ epIQ Grade.
- The top 10 communities nationwide will be recognized in the live announcement planned for January 2023.
NEW for 2022: The top 10 communities nationwide with the highest epIQ Index for 2022 will receive a trophy delivered to their community.
Our education team provides Annual Survey and Insite Survey performance reviews, in addition to portfolio-level epIQ Index improvement sessions throughout the year. If you would like to learn more about scheduling an epIQ Index improvement session or to make sure you’re on the invite list for the next round of Insite performance reviews, please fill out the form on our education page.
Additional changes to the epIQ Index, including the update to Review Reply Time beginning November 2022, were announced in January 2022 and are included in this article.
1 Comment. Leave new
A lot of us are disappointed that you have raised the mark on the Top Rated community requirements to A+ rating. We could see “A” as the benchmark, but not “A+” which is near impossible to reach if you have been around for a long time. You should revise this bench mark in our opinion. New people can benefit then they would drop off this achievement as this bench mark is too high.