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Renters influenced by online property reviews

 

NEW YORK – Aug. 29, 2014 – Property managers take note: online peer ratings and reviews matter. According to ApartmentFinder.com's recent survey of more than 5,000 apartment seekers, nearly all – 96 percent – said that online reviews influence their decision when choosing an apartment.

Property managers should also factor mobile use into their marketing strategy – nearly half (49 percent) of apartment hunters prefer to use their mobile device, according to the survey. And mobile property hunters are apt to take action: 45 percent will call and 42 percent will e-mail a rental office immediately from their mobile device. Of respondents who use their mobile device to shop for rentals, 49 percent will call the apartment community directly from the listing.

"The findings reinforce the importance of leveraging leading-edge online and mobile tools to reach apartment shoppers when they're actively engaged in their search process," says Marcia Bollinger, president of Apartment Finder.

When it comes to making the final rental decision, cost mattered most, swaying 63 percent of respondents. Location was the deciding factor for 24 percent of renters, followed by neighborhood crime statistics at 7.3 percent, school system at 3 percent and community amenities at 2.6 percent.

Giving context to why renters are moving, the top three reasons listed by survey respondents on why they're moving, included a current lease expiring (42 percent), job relocation or a new job (22 percent), and moving out of parents' home (18 percent).

Source: "New ApartmentFinder.com Survey Reveals Apartment Shoppers' Search Behavior and Lease Decision-Making Influencers," Apartment Finder (Aug. 13, 2014)

© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688

 

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