New AppFolio Survey Finds Property Managers Must Innovate to Meet Modern Renter Expectations
AppFolio's 2024 Property Manager Renter Preferences Report reveals key insights for property managers in a competitive rental market. Nearly one million new apartment units are expected by 2025, highlighting the need for innovation to meet modern renter expectations. Key findings include:
1. 30% of renters search for rentals on property websites, emphasizing the importance of a strong online presence.
2. 95% of respondents value clear and transparent listings.
3. 76% of renters expect responses within 24 hours.
4. Gen Z and Millennials prioritize online portals and smart home technology.
5. 46% of respondents intend to renew their current lease.
6. Satisfied renters are 25% less likely to move and more likely to recommend their property managers.
The report underscores the critical role of technology in enhancing resident experiences and operational efficiency for property managers.
Il Report sulle Preferenze degli Affittuari 2024 di AppFolio rivela importanti intuizioni per i gestori immobiliari in un mercato degli affitti competitivo. Si prevede che entro il 2025 ci saranno quasi un milione di nuovi appartamenti, evidenziando la necessità di innovazione per soddisfare le aspettative moderne degli affittuari. Le scoperte chiave includono:
1. Il 30% degli affittuari cerca affitti sui siti web immobiliari, sottolineando l'importanza di una forte presenza online.
2. Il 95% degli intervistati valuta annunci chiari e trasparenti.
3. Il 76% degli affittuari si aspetta risposte entro 24 ore.
4. La Gen Z e i Millennials danno priorità ai portali online e alla tecnologia per la casa intelligente.
5. Il 46% degli intervistati ha intenzione di rinnovare il proprio contratto di locazione.
6. Gli affittuari soddisfatti sono 25% meno propensi a trasferirsi e più inclini a consigliare i loro gestori immobiliari.
Il report sottolinea il ruolo cruciale della tecnologia nel migliorare l'esperienza dei residenti e l'efficienza operativa per i gestori immobiliari.
El Informe sobre las Preferencias de los Inquilinos 2024 de AppFolio revela información clave para los administradores de propiedades en un mercado de alquiler competitivo. Casi un millón de nuevas unidades de apartamentos se esperan para 2025, lo que resalta la necesidad de innovación para satisfacer las expectativas modernas de los inquilinos. Los hallazgos clave incluyen:
1. El 30% de los inquilinos busca alquileres en sitios web de propiedades, enfatizando la importancia de una sólida presencia en línea.
2. El 95% de los encuestados valora listados claros y transparentes.
3. El 76% de los inquilinos espera respuestas dentro de 24 horas.
4. La Generación Z y los Millennials priorizan los portales en línea y la tecnología de casas inteligentes.
5. El 46% de los encuestados tiene la intención de renovar su contrato actual.
6. Los inquilinos satisfechos son 25% menos propensos a mudarse y más propensos a recomendar a sus administradores de propiedades.
El informe subraya el papel crítico de la tecnología en la mejora de las experiencias de los residentes y la eficiencia operativa para los administradores de propiedades.
AppFolio의 2024 년 임대인 선호도 보고서는 경쟁이 치열한 임대 시장에서 자산 관리자에게 중요한 통찰력을 제공합니다. 2025 년까지 거의 100 만 개의 새로운 아파트가 예상되며 현대 임차인 기대에 부응하기 위한 혁신의 필요성을 강조합니다. 주요 발견 사항은 다음과 같습니다:
1. 임차인의 30%가 부동산 웹사이트에서 임대를 검색하며, 강력한 온라인 존재의 중요성을 강조합니다.
2. 응답자의 95%가 명확하고 투명한 정보 목록의 가치를 두고 있습니다.
3. 임차인의 76%가 24 시간 이내에 응답을 기대하고 있습니다.
4. Z 세대와 밀레니얼 세대는 온라인 포털과 스마트 홈 기술을 우선시합니다.
5. 응답자의 46%가 현재의 임대 계약을 갱신할 의사를 가지고 있습니다.
6. 만족한 임차인은 25% 덜 이사할 가능성이 있으며, 자산 관리자를 추천할 가능성이 높습니다.
이 보고서는 거주자의 경험 향상과 자산 관리자의 운영 효율성을 높이는 데 있어 기술의 중요성을 강조합니다.
Le rapport sur les préférences des locataires 2024 d'AppFolio révèle des informations clés pour les gestionnaires de propriétés dans un marché locatif compétitif. Près d'un million de nouvelles unités d'appartements devraient voir le jour d'ici 2025, soulignant la nécessité d'innovation pour répondre aux attentes modernes des locataires. Les principales conclusions incluent :
1. 30% des locataires recherchent des locations sur des sites immobiliers, soulignant l'importance d'une forte présence en ligne.
2. 95% des répondants apprécient les annonces claires et transparentes.
3. 76% des locataires s'attendent à des réponses sous 24 heures.
4. La Génération Z et les Millennials privilégient les portails en ligne et la technologie de maison intelligente.
5. 46% des répondants souhaitent renouveler leur contrat actuel.
6. Les locataires satisfaits sont 25% moins susceptibles de déménager et plus enclins à recommander leurs gestionnaires de propriétés.
Le rapport souligne le rôle crucial de la technologie dans l'amélioration de l'expérience des résidents et l'efficacité opérationnelle des gestionnaires de propriétés.
Der Bericht über die Mietvorlieben von AppFolio für 2024 bietet wichtige Einblicke für Immobilienverwalter auf einem wettbewerbsintensiven Mietmarkt. Bis 2025 wird mit nahezu einer Million neuen Wohnungseinheiten gerechnet, was die Notwendigkeit von Innovationen zur Erfüllung moderner Mietererwartungen hervorhebt. Zu den wichtigsten Ergebnissen gehören:
1. 30% der Mieter suchen auf Immobilien-Websites nach Mietobjekten, was die Bedeutung einer starken Online-Präsenz unterstreicht.
2. 95% der Befragten schätzen klare und transparente Angebote.
3. 76% der Mieter erwarten Antworten innerhalb von 24 Stunden.
4. Die Generation Z und die Millennials setzen einen Schwerpunkt auf Online-Portale und Smart-Home-Technologie.
5. 46% der Befragten beabsichtigen, ihren aktuellen Mietvertrag zu verlängern.
6. Zufriedene Mieter sind 25% weniger geneigt, umzuziehen und eher bereit, ihre Immobilienverwalter zu empfehlen.
Der Bericht hebt die entscheidende Rolle der Technologie bei der Verbesserung der Bewohnererfahrungen und der operativen Effizienz für Immobilienverwalter hervor.
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Transparent property listings, smart technology and effective communication are critical in attracting and retaining happy, long-term renters
SANTA BARBARA, Calif., Aug. 22, 2024 (GLOBE NEWSWIRE) -- AppFolio (NASDAQ: APPF), the technology leader powering the future of the real estate industry, today released its 2024 AppFolio Property Manager Renter Preferences Report. For property managers looking to gain an edge in a competitive rental market, this report of more than 2,000 U.S. renters uncovers key insights into their shifting motivations and behaviors, emphasizing the critical role of technology in the resident experience.
Nearly one million new apartment units are projected to be available by 2025, signaling an increasingly competitive market for owners and property managers, according to a market analysis by AppFolio using data from the U.S. Census Bureau. With more choices available to renters, AppFolio’s report sheds light on the challenges and priorities that property managers must address head-on to meet renter expectations throughout their resident journey. Highlights include:
The marketing and leasing process are key
Nearly one-third of renters surveyed (
- A clear and transparent listing is ranked as the most important factor that renters consider, with
95% of respondents saying they view it as very important or important. 88% of renters describe a property manager’s reputation on review sites as a very important or important aspect of evaluating a new rental.- Furthermore, more than three-quarters (
76% ) of renters expect to hear back about a listing within 24 hours of contacting the owner or property manager, while27% expect a response within a few hours.
Meeting the needs of different generations
By 2030, Gen Z is expected to become the largest demographic of renters in America, making it essential for property managers to continue investing in modern technology solutions.
81% of Gen Z and77% of Millennials surveyed expressed the importance of having access to an online resident portal or mobile app for their unit, compared to52% of Baby Boomers.- Most younger renters (
66% Gen Z,60% Millennials) want smart home technology, like Wi-Fi enabled thermostats, lights and locks, compared to38% of Boomers. - When it comes to making payments,
90% of Gen Z and87% of Millennial renters consider online payment options very important or important, compared to67% of Boomers.
Catering to long-term renters with effective communication and service
With a growing number of residents planning to rent for longer, there is increased demand for rental housing that fits their long-term needs. Effective communication and prompt maintenance services play a pivotal role in attracting and retaining these renters, as residents who are satisfied in those areas are more likely to renew their leases and recommend their property managers to prospective renters.
- Nearly half (
46% ) of respondents said they intend on renewing their current lease, with about one in four (23% ) reporting this was because they are unable to purchase a home. - Renters who are satisfied with their property manager’s communication methods are
25% less likely to be planning a move and nearly four times more likely to recommend their property managers than renters who are unsatisfied. - Similarly, those satisfied with maintenance are
25% less likely to say they are planning to move, and nearly three times more likely to recommend their property management company.
“This report highlights the undeniable impact that technology has in meeting renter expectations,” said Stacy Holden, senior director and industry principal at AppFolio. “Bottom line, great resident experiences today are all about timely and clear communication, while having access to the information you need at your fingertips. By leveraging the latest innovations, including AI-powered leasing solutions, smart home technology, and easy-to-use online resident portals, property managers can create win-win scenarios for their business. These tools not only maximize convenience and satisfaction for their residents, but also increase their operational efficiency, enabling them to thrive in the current market conditions.”
For a more in-depth look at the key trends shaping the rental market, download the 2024 AppFolio Property Manager Renter Preferences Report.
Survey methodology
AppFolio surveyed 2,105 U.S. renters ages 18 and up from May 13, 2024 to May 22, 2024.
About AppFolio
AppFolio is the technology leader powering the future of the real estate industry. Our innovative platform and trusted partnership enable our customers to connect communities, increase operational efficiency, and grow their business. For more information about AppFolio, visit appfolio.com.
For more information, please contact:
Mission North for AppFolio
appfolio@missionnorth.com
FAQ
What are the key findings of AppFolio's 2024 Renter Preferences Report for APPF stock?
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What percentage of Gen Z and Millennial renters consider online payment options important for APPF's property management solutions?
How does renter satisfaction impact lease renewals and recommendations according to AppFolio's APPF report?
