Want to attract renters to your multi-family community? Better make sure those Yelp reviews are positive ones.
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 influence renters. The ForRent.com survey also found that renters like to watch online videos that highlight the amenities of apartment communities. The survey found that 90 percent of renters watch video as part of their apartment search.
What’s this mean for landlords? Only that good customer service — fixing broken appliances quickly, maintaining clean lobby areas, shoveling snow promptly — matters more than ever. Renters are far from shy about reporting bad service. And these reports can cost landlords and building owners serious dollars.
