“Overall Rating” on ApartmentRatings now called “Renter Ratings” & Include SatisFacts Insite Surveys!
In an ongoing effort to fulfill our mission of providing the most authentic and useful information to renters looking for their next apartment home, we have improved the “Overall Rating” for all of the communities on the ApartmentRatings website to now include results from our SatisFacts Insite Surveys and rebranded them “Renter Ratings”.
How will it impact your star ratings?
Those communities who do not use SatisFacts Insite Surveys to help get resident feedback regarding satisfaction with key events throughout the resident lifecycle will see no change in their star ratings. (Image above)
Communities that do use one, some, or all four of the Insite modules will have them included in the determination of the “Renter Rating” and the quantity of reviews and surveys will be listed below the star rating. (Image above)
Our analysis indicates that, on average, communities with Insite Surveys experience an increase of approximately 1/3 of a star when compared to their “Renter Rating” based solely on renter reviews posted directly to ApartmentRatings. To learn more about SatisFacts Insite Surveys, click HERE
Which surveys are included?
Results from the four following SatisFacts Insite Survey modules will be included in the new “Renter Rating”:
- Unclosed Traffic
- Move-In
- Work Order
- Pre-Renewal
How is the Renter Rating calculated?
The “Renter Rating” for those without Insite Surveys is based on a straight average of the six categorical ratings included in reviews created by real renters and posted on ApartmentRatings. The formula looks something like the one below:
Renter Rating w/out surveys = (Noise + Safety + Grounds + Maintenance + Neighborhood + Office Staff) / 6
For those with Insite Surveys the formula includes the surveys to which they are subscribed in the straight average calculation:
Renter Ratings w/surveys = (Noise + Safety + Grounds + Maintenance + Neighborhood + Office Staff +Insite Unclosed Traffic Insite Move-In + Insite Work Order + Insite Pre-Renewal) / 10
Where can I find my Renter Rating?
The Renter Rating will be available to all renters on each community’s page on ApartmentRatings as well as in our new EXCHANGE reporting platform. If you do not currently subscribe to any of our services, but would like to have access to the EXCHANGE platform and your community & portfolio reports, please contact us to find out how you can gain access.