2016 Q2 Multifamily Trends - MASTERMultifamily Industry Trends Q2 2016 For permission to use...

Multifamily Industry TrendsQ2 2016

To request permission to use Kingsley data, please contact:

Shelby Lee, Marketing Manager770.908.1220 ext 227 | [email protected]

CONFIDENTIAL | Ⓒ Kingsley Associates

2Business intelligence for the real estate industry.

Multifamily Industry Trends Q2 2016For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Overall Resident Satisfaction

75.7% 75.6% 75.4%

76.2% 76.4% 76.6% 76.7% 76.7% 76.6% 76.7% 76.7% 76.7%

70%

72%

74%

76%

78%

80%

% Satisfie

dOverall resident satisfaction





Overall Resident Satisfaction by Market

75%

83% 82%

76%

72%

78%77%

79%76% 77%

76%

0%

20%

40%

60%

80%

100%

Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York SanFrancisco

Seattle Washington,DC

Q2 2016 Q2 2015

Overall resident satisfaction by market% Satisfie

d

Change +0.7% +1.5% +2.3% +0.4% ‐2.7% +0.9% +0.8% ‐2.0% ‐0.9% ‐2.6% +1.0%





Value for amount paid

Value for Amount Paid

58.4% 58.4% 58.1% 56.9% 56.0% 55.1% 54.5% 53.9% 53.5% 53.9% 54.4% 54.2%

30%

40%

50%

60%

70%

80%

% Satisfie

d





Value for Amount Paid by Market

63%59% 57% 57%

54%52%

46%

51% 50%53%

55%

0%

20%

40%

60%

80%

100%



Q2 2016 Q2 2015

% Satisfie

dValue for amount paid by market

Change +3.4% +1.5% +0.4% +0.5% ‐0.2% +0.1% ‐1.7% +0.3% +1.2% ‐0.9% +0.7%





Renter Renewal Intent

54.7% 54.9% 54.8%53.8% 53.5% 53.4% 53.2%

52.3% 51.9% 51.6% 51.5% 51.4%

40%

45%

50%

55%

60%

65%

70%

Renter renewal intent% Likely





Renter Renewal Intent by Market

51%

58%54%

50%46%

51%

49%53%

51%52%

56%

0%

20%

40%

60%

80%

100%



Q2 2016 Q2 2015

% Likely

Renter renewal intent by market

Change ‐1.4% ‐0.4% ‐2.2% ‐2.4% ‐2.7% +1.2% ‐0.3% ‐2.8% +2.1% ‐0.8% +1.2%





Top Renewal Decision Factors56

%

51%

36%

32%

32%

32%

27%

22%

19%

56%

53%

37%

33%

33%

32%

27%

24%

21%

0%

20%

40%

60%

80%

100%

Rental rate Location Communitymanagement

Security Communityappearance

Apartmentfeatures /finishes

Floor plan Communityamenities

Lease terms

Q2 2015 Q2 2016

Renewal decision factors% of R

espo

nden

ts





Top Renewal Decision Factors – Residents LIKELY to Renew71

%

49%

45%

43%

39%

39%

36%

28%

21%

73%

50%

46%

44%

40%

39%

36%

31%

22%

0%

20%

40%

60%

80%

100%

Location Rental rate Communitymanagement

Communityappearance

Security Apartmentfeatures /finishes

Floor plan Communityamenities

Too muchtrouble tomove

Q2 2015 Q2 2016


espo

nden

ts





Top Renewal Decision Factors – Residents UNSURE of Renewal66

%

37%

25%

25%

23%

22%

22%

19%

20%

66%

41%

27%

25%

24%

24%

23%

20%

19%

0%

20%

40%

60%

80%

100%

Rental rate Location Security Apartmentfeatures /finishes

Communitymanagement

Lease terms Communityappearance

Too muchtrouble tomove

Floor plan

Q2 2015 Q2 2016


espo

nden

ts





Top Renewal Decision Factors – Residents UNLIKELY to Renew60

%

31%

25%

23%

23%

19%

18%

16%

14%

14%

60%

31%

25%

25%

24%

21%

20%

17%

15%

13%

0%

20%

40%

60%

80%

100%

Rental rate Communitymanagement

Apartmentfeatures /finishes

Security Location Other Communityappearance

Lease terms Communityamenities

Floor plan

Q2 2015 Q2 2016


espo

nden

ts





Top Ways Residents Discovered Their Community

31.2%

23.9%

20.6%

9.5%

2.9%1.3% 1.4%

34.1%

31.2%

17.0%

8.9%

2.1% 1.8% 1.7%

0%

10%

20%

30%

40%

Internet listing /advertisement

Drive / walk by Personal referral Referral from apt.finder / relocation

firm

Prior experiencewith landlord

Brand reputation Internet searchengine (Google,Yahoo, etc.)

Q2 2011 Q2 2016

Community search process% of R

espo

nden

ts





Top Social Media Sites Residents Use to Post Ratings / Reviews

23.4%

4.2%6.0% 5.4%

2.7%

12.7% 12.4%

5.5%

2.6%0.4%

0%

10%

20%

30%

40%

Facebook Yelp Google+ Twitter YouTube

Q2 2012 Q2 2016

Social media ratings / reviews% of R

espo

nden

ts





Sentiment of Residents’ Online Reviews

4.0%

12.9%

7.8%12.1% 12.2% 12.8%

38.6%

33.5% 34.9%

29.4% 30.4% 31.2%

57.4%53.5%

57.3% 58.5% 57.4% 56.0%

0%

10%

20%

30%

40%

50%

60%

70%Mostly negative Neutral / mixed Mostly positive

% Satisfie

dOnline review sentiment

Kingsley SolutionsBusiness intelligence for the real estate industry

RESEARCH• Resident/tenant satisfaction assessments• Employee/associate engagement programs• Broker perception surveys• Client and investor surveys• Portfolio performance scorecards• Time and motion studies

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.

BENCHMARKING• Compensation research• Fund structuring and fee benchmarking• Organizational structuring

CONSULTING• Succession planning• Competitive positioning assessments• Strategic planning facilitation

San Francisco | Atlanta

Business intelligence for the real estate industry

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