What is the SatisFacts Index?:
The SatisFacts Index is the Multi-Family Housing’s most reliable benchmarking tool for measuring resident satisfaction. It consists of data from over 4.9 million resident surveys from across the United States and Canada.
How is the SatisFacts Index Calculated?:
The SatisFacts Index is the average score of prospective and current resident responses to questions related to key events in a renter’s occupancy using a ranking of 1 (very unsatisfied) to 5 (very satisfied).
Scores are comprised of questions on a variety of categories such as:
- Office staff
- Maintenance requests/service
- Apartment appearance
In addition, Insite® modules are geared toward events triggered by the specific Insite® survey, i.e. Unclosed Prospect, Move In, Work Order, Pre- Renewal.
Based on scores received from each question, properties receive an overall achievement ranking from:
- Exceptional (4.50+)
- Superior (4.00-4.49)
- Average (3.50-3.99)
- Warning (3.00-3.49)
- Red Flag (below 3.00)
How to use this score:
“As a Resident!” – When armed with the SatisFacts Index, today’s online renter can more accurately gauge what it would be like to live at a SatisFacts Client Property. Additionally, clients that use SatisFacts are constantly engaging their residents to give feedback using satisfaction surveys, which improves the living experience and a resident’s sense of community.
“As a Community Manager!” Property Management Companies need a tool to measure resident satisfaction in order to respond to concerns and improve resident retention. The SatisFacts Index allows clients to benchmark their resident satisfaction with the National Average. Properties are always competing for residents and by implementing the SatisFacts program, properties ensure that the portfolio is performing at or above the competition.
How does the SatisFacts Index relate to the ApartmentRatings Score?
SatisFacts and ApartmentRatings scores may survey the same residents but provide different insights about the properties.
ApartmentRatings reviews may be from current residents or past residents or individuals who have recently visited the property. They can range from detailed reviews praising a specific aspect of the property to generalized impressions.
ApartmentRatings also allows residents to rank aspects of the property such as: Grounds, Maintenance, Neighborhood, Noise, Office Staff and Safety. Based on user reviews, a statistical model is used to calculate the “% Recommended” score, in which more weight is placed on recent reviews to more accurately reflect any recent changes made to the property in response to user feedback.
The SatisFacts score is more structured and specific in terms of information provided. Current residents are able to give their feedback based their specific experience at a particular interaction with the community and team. This helps residents make informed decisions based on what is important to them, as it allows them to look at specific score for various aspects of the property from both past and present residents.
The SatisFacts Badge displayed on a property’s ApartmentRatings.com page represents the overall scores given by respondents living at that property regarding the specific event surveyed for (Move-In, Work Order, Pre-Lease Renewal or Prospective Resident).