Multifamily Industry Trends
Q2 2016
To request permission to use Kingsley data, please contact:
Shelby Lee, Marketing Manager
770.908.1220 ext 227 | [email protected]
Overall resident satisfaction
Overall Resident Satisfaction
80%
78%
% Satisfied
76.2%
76%
75.7%
75.6%
76.4%
76.6%
76.7%
76.7%
76.6%
76.7%
76.7%
76.7%
75.4%
74%
72%
70%
2
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Overall resident satisfaction by market
Overall Resident Satisfaction by Market
Q2 2016
Q2 2015
100%
83%
80%
82%
75%
78%
76%
77%
72%
% Satisfied
76%
79%
76%
77%
60%
40%
20%
0%
Change
Atlanta
Boston
Chicago
Dallas
Denver
Los Angeles
Miami
New York
San
Francisco
Seattle
Washington,
DC
+0.7%
+1.5%
+2.3%
+0.4%
‐2.7%
+0.9%
+0.8%
‐2.0%
‐0.9%
‐2.6%
+1.0%
3
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Value for amount paid
Value for Amount Paid
80%
% Satisfied
70%
60%
58.4%
58.4%
58.1%
56.9%
56.0%
55.1%
54.5%
53.9%
53.5%
53.9%
54.4%
54.2%
50%
40%
30%
4
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Value for amount paid by market
Value for Amount Paid by Market
Q2 2016
Q2 2015
100%
80%
% Satisfied
63%
59%
60%
57%
57%
55%
52%
51%
54%
50%
53%
46%
40%
20%
0%
Change
Atlanta
Boston
Chicago
Dallas
Denver
Los Angeles
Miami
New York
San
Francisco
Seattle
Washington,
DC
+3.4%
+1.5%
+0.4%
+0.5%
‐0.2%
+0.1%
‐1.7%
+0.3%
+1.2%
‐0.9%
+0.7%
5
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Renter renewal intent
Renter Renewal Intent
70%
65%
% Likely
60%
55%
54.7%
54.9%
54.8%
53.8%
53.5%
53.4%
53.2%
52.3%
51.9%
51.6%
51.5%
51.4%
50%
45%
40%
6
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Renter renewal intent by market
Renter Renewal Intent by Market
Q2 2016
Q2 2015
100%
% Likely
80%
60%
56%
58%
54%
51%
51%
50%
40%
51%
53%
52%
49%
46%
20%
0%
Change
Atlanta
Boston
Chicago
Dallas
Denver
Los Angeles
Miami
New York
San
Francisco
Seattle
Washington,
DC
‐1.4%
‐0.4%
‐2.2%
‐2.4%
‐2.7%
+1.2%
‐0.3%
‐2.8%
+2.1%
‐0.8%
+1.2%
7
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Renewal decision factors
Top Renewal Decision Factors
Q2 2015
Q2 2016
100%
21%
19%
24%
22%
20%
27%
27%
32%
32%
33%
32%
33%
32%
37%
53%
36%
40%
51%
56%
60%
56%
% of Respondents
80%
0%
Rental rate
Location
Community
management
Security
Community
appearance
8
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Apartment
features /
finishes
Floor plan
Community
amenities
Lease terms
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Renewal decision factors
Top Renewal Decision Factors – Residents LIKELY to Renew
Q2 2015
Q2 2016
100%
22%
21%
20%
31%
28%
36%
36%
39%
39%
40%
39%
44%
43%
46%
45%
40%
50%
73%
49%
60%
71%
% of Respondents
80%
0%
Location
Rental rate
Community
management
Community
appearance
Security
9
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Apartment
features /
finishes
Floor plan
Community
amenities
Too much
trouble to
move
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Renewal decision factors
Top Renewal Decision Factors – Residents UNSURE of Renewal
Q2 2015
Q2 2016
100%
19%
20%
20%
19%
23%
22%
24%
22%
24%
23%
25%
25%
20%
27%
25%
37%
40%
41%
66%
60%
66%
% of Respondents
80%
0%
Rental rate
Location
Security
Apartment
features /
finishes
Community
management
10
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Lease terms
Community
appearance
Too much
trouble to
move
Floor plan
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Renewal decision factors
Top Renewal Decision Factors – Residents UNLIKELY to Renew
Q2 2015
Q2 2016
100%
60%
60%
60%
13%
14%
15%
14%
17%
16%
20%
18%
21%
19%
24%
23%
25%
23%
25%
25%
20%
31%
40%
31%
% of Respondents
80%
0%
Rental rate
Community
management
Apartment
features /
finishes
Security
Location
Other
11
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Community
appearance
Lease terms
Community
amenities
Floor plan
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Community search process
Top Ways Residents Discovered Their Community
Q2 2011
Q2 2016
40%
34.1%
31.2%
31.2%
% of Respondents
30%
23.9%
20.6%
20%
17.0%
9.5% 8.9%
10%
2.9% 2.1%
1.3% 1.8%
1.4% 1.7%
Brand reputation
Internet search
engine (Google,
Yahoo, etc.)
0%
Internet listing /
advertisement
Drive / walk by
Personal referral Referral from apt. Prior experience
finder / relocation
with landlord
firm
12
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Social media ratings / reviews
Top Social Media Sites Residents Use to Post Ratings / Reviews
Q2 2012
Q2 2016
40%
% of Respondents
30%
23.4%
20%
12.7%
12.4%
10%
6.0%
4.2%
5.5%
5.4%
2.6%
2.7%
0.4%
0%
Facebook
Yelp
Google+
13
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Twitter
YouTube
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Online review sentiment
Sentiment of Residents’ Online Reviews
Mostly negative
Neutral / mixed
Mostly positive
70%
60%
57.4%
57.3%
58.5%
57.4%
56.0%
29.4%
30.4%
31.2%
12.1%
12.2%
12.8%
53.5%
% Satisfied
50%
40%
38.6%
33.5%
34.9%
30%
20%
12.9%
10%
7.8%
4.0%
0%
14
Business intelligence for the real estate industry.
CONFIDENTIAL | Ⓒ Kingsley Associates
Multifamily Industry Trends Q2 2016
For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Kingsley Solutions
Business intelligence for the real estate industry
The most successful firms in real estate rely on Kingsley Associates for cutting‐edge business intelligence solutions. With a depth and breadth of insight unmatched in the industry, we bring thought leadership and exceptional client service to every engagement. Let us partner with you to unlock the value in your organization and its relationships.
RESEARCH
• Resident/tenant satisfaction assessments
• Employee/associate engagement programs
• Broker perception surveys
• Client and investor surveys
• Portfolio performance scorecards
• Time and motion studies
BENCHMARKING
• Compensation research
• Fund structuring and fee benchmarking
• Organizational structuring
CONSULTING
• Succession planning
• Competitive positioning assessments
• Strategic planning facilitation
Business intelligence for the real estate industry
San Francisco | Atlanta