Reputation matters. As the developer and manager of several multi-family communities, we understand the importance of keeping our tenants happy. Something we need to be more aware of, is the importance of maintaining our reputation and the reputations of our properties.
A new survey by ForRent.com found that the majority of renters today research the reputation of apartment communities before signing leases. According to the survey, 75 percent of renters base their renting decisions on reviews of the communities.
Surprisingly, online reviews seem to be far more important that positive word of mouth. The survey found that only 48 percent of renters use positive word of mouth to help them find an apartment.
This means that if current and former tenants are blasting your apartment community online you might struggle to attract new tenants.
Of course, you can try to fight back by faking positive reviews. But these are often easy to identify. The best bet? Fix the problems that renters are pointing out in negative reviews.
Positive reviews aren’t the only factors that…
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