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NEW DATA REVEALS HOW U.S. PROPERTY MANAGERS CAN BETTER MEET THEIR RESIDENTS’ TEXPECTATIONS
By Stacy Holden, Appfolio
he one commonality between the various real estate markets across our nation is that everywhere, things have changed significantly in the past two years. And while much has been written about the state of both local and national residential markets, there is a gap when it comes to data
that helps property owners and managers better understand the changed motivations, expectations, and perceptions that U.S. renters have of their property management companies or landlords. As a result, AppFolio conducted a national survey to provide property managers aand landlords with a clearer understanding of how their renters perceive them.
Here’s the good news: nearly three-quarters of US renters surveyed said that they are satisfied with their property manager. However, a follow up question
revealed that there’s a real opportunity to improve that level of satisfaction.
SATISFACTION LEVEL VS. NET PROMOTER SCORE
We asked renters to measure their satisfaction in two ways. First, we asked them about their overall satisfaction. That is a straightforward metric. Then we calculated satisfaction based on Net Promoter Score, which is a bit more complicated, but can show more specific areas of opportunity.
A Net Promoter Score is a metric that rates the likelihood that respondents would recommend a company, product, or a service to a friend or colleague. It is typically interpreted and used as an indicator of customer loyalty, and can be used by businesses looking to differentiate and grow their business. The popularity of NPS stems from the idea that you can’t improve what you can’t measure.
APARTMENT MANAGEMENT MAGAZINE - FEBRUARY 2022 CS-7