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Therefore, being able to measure likelihood of recommendation to one’s peers, along with why and why not, can provide actionable insights that improve your company’s bottom line.
NPS scores are reported with a number from the range -100 to +100. Naturally, a higher score is more desirable.
Across the country and among the various metro areas that we surveyed, when asked “How likely is it that you would recommend your property management company or landlord to a friend or colleague?” the greater United States’ received an NPS of -12. The Dallas-Fort Worth metro took the top spot with an NPS of 31, while the Los Angeles metro bottomed the list with an NPS of -36.4. But despite a low NPS score, 72% of surveyed U.S. renters responded as being satisfied with their property managers or landlord. While these may at first seem eyebrow raising, these two metrics are in fact not mutually exclusive, and there’s a story both scores tell when viewed together: While many renters are finding that the bare minimum of their expectations are being met (and thus are satisfied with their property managers or landlord), the vast majority are not impressed enough with the level of service they receive to recommend their current property management company or landlord.
HOW CAN PROPERTY MANAGEMENT IMPROVE?
To better understand why renters gave the scores they did, we asked them to share feedback in their own words. Interestingly, some of the greatest areas of disappointment among L.A. renters, the metro that received the lowest Net Promoter Score, were also the areas of outperformance within the metro that received the highest NPS, Dallas-Fort Worth. These areas are:
1. Flexibility / rent payment / costs 2. Communication
3. Unit Improvements / Maintenance 4. Disposition / Kindness
In our national survey, we also asked “Compared to before the pandemic, how important are each of the following factors to you now: Responsiveness, Flexibility, Technology?” around 30% of respondents said each category is now more important than it was pre-pandemic.
The connection between employee satisfaction and resident satisfaction
We found in a previous AppFolio survey that staffing and retention is the top challenge facing the property management industry. The question is, are the industry’s staffing challenges caused by unhappy renters, or are renters unhappy because the industry overall is experiencing a shortage of labor? Whatever the case may be, it’s clear that there is a negative feedback loop. Unhappy renters lead to burned out employees who churn faster. Employee churn can make it even harder to keep residents happy.
HOW TECHNOLOGY CAN HELP IN THESE AREAS
Property management technology can help teams meet — and exceed — the expectations of their renters. Here’s how businesses just like yours have used technology to up their communication, maintenance, and flexibility game, boosting employee satisfaction:
COMMUNICATION
We asked renters, “How has your property management company or landlord disappointed you in this last year?” For them, communication issues were a top concern. One way that property managers can take action to improve in these areas is to consolidate all communications onto a central hub. From there, residents can communicate with
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CS-8 FEBRUARY 2022 - APARTMENT MANAGEMENT MAGAZINE