Study examing the attitudes and media usage of people hunting for an apartment

1. ApartmentApartment
Renters:Renters:
ApartmentApartment
Renters:Renters:
Shopping for an
Apartment
Community
Shopping for an
Apartment
Community
Research Conducted by
FGI Research

2. Apartment Renters’ Study 2
The W’s of
S E A R C H
Who…are today’s apartment shoppers and residents?
What…do today’s shopper’s want (and expect!) online?
When…do they surf and for how long?
Where…are they shopping online?
Why and how…do shopper’s search the web?
ApartmentFinder.com

3. Apartment Renters’ Study 3
Respondent Profile
These respondents use and often rely upon information sources,
such as rental publications / magazines and the Internet, in their
search for a new apartment community. These users are our
primary target.
Typically in their mid-30’s and single.
Most have attended college and are employed full-time.
Median household income is approximately $36-$38K.
Most live in a garden apartment.
Willing to pay more for something they really want.
Take their time making important decisions.
Like to live close to where they work – within 5 miles.
Like to keep abreast of the latest technology.
They are more likely to make a purchase if they like a salesperson.
Willing to spend more to live in a community that has extras.
Targeted Media Users

4. Apartment Renters’ Study 4
Non-Targeted Media Users:
 Most considered moving to be closer
to family.
 They also preferred a smaller home
and considered moving for health
reasons / due to illness.
Top Reasons for Moving
Lower-Level Income:
 Primary reason for moving was to
saving money.
Higher-Level Income:
 Their main reason for moving was to
upgrade to a larger apartment.
Among all renters,
the #1 reason for
moving / thinking
about moving:
Saving
Money
Targeted Media Users:
 Their main reason for moving was to save money.
 Significantly more media users said they were moving to be closer to work or schools.

5. Apartment Renters’ Study 5
Primary Sources Used in the Apartment Search
 There is significant overlap between rental publications and use of the Internet
among Targeted Media Users.
70% of Targeted Media Users used rental pubs when looking for an
apartment
80% used the Internet.
 Responses suggest that rental publications send shoppers to the Internet
for more information.
Shoppers’ Top Four Sources:
•The Internet
•Locator Services
•Rental Information
Publications
•Word of Mouth

6. Apartment Renters’ Study 6
Usefulness of Targeted Media
Source
Targeted
Media Users
Non-Targeted
Media Users
Lower-Level
Income Renters
Higher-Level
Income Renters
Rental Publication 88% Do Not Use 87% 88%
The Internet 94% Do Not Use 80% 97%
The vast majority of shoppers who used targeted media
said those sources were extremely, very, or somewhat
useful in their search for an apartment home.
High and low level incomes use targeted media.
Usefulness of Targeted Media
 Among all sources used, which was the most useful?
 Targeted Media Users cited the Internet and Rental Publications.

7. Apartment Renters’ Study 7
Specific Targeted Media Used: Rental Publications
Target Media Users are closely split between
Apartment Finder and Apartment Guide
Followed by For Rent.
 Targeted Media Users most often use publications to:
Compare prices
Locate apartment communities in the area
Compare apartment features.
 While the majority of users primarily rely on both Apartment Finder and Apartment Guide for
price comparisons, more users prefer Apartment Finder to compare community amenities
and to identify specific communities to visit.
The two most commonly used rental publications:
Publications are used to serve a number of purposes.

8. Apartment Renters’ Study 8
Specific Targeted Media Used: Rental Publications
 51% of all Targeted Media Users said they called the
telephone number listed in the publication.
 Another 43% said they visited the property.
 Nine in ten – 90% of Targeted Media Users were satisfied
with the response they received from telephoning the
apartment community.
 Almost 30% of respondents viewing rental publications
reported going to an apartment web site after seeing it in the
magazine.
86% of Targeted Media Users say they were
extremely or very satisfied with information
found in rental publications

9. Apartment Renters’ Study 9
Specific Targeted Media Used: Rental Publications
Publications effectively and positively
impacted the Targeted Media Users’
search for a new apartment home.
 71% percent of users agreed that the apartment rental
magazines gave an accurate view of the apartments or
communities they visited.
 80% percent of users agreed that the apartment rental
magazines gave a useful understanding of the
apartments and communities they visited.
 More than 7 out of 10 (70%) Targeted Media Users
have found or believe they will find their apartment
home in a rental information magazine.

10. Apartment Renters’ Study 10
Specific Targeted Media Used: The Internet
 Over half of all renters surveyed said they used the
Internet as a resource in their search for apartment
homes:
 Search engines drew the most traffic –
50% of Targeted Media Users
 Almost 40% of Targeted Media users went to specific websites.
(typing in a specific url : www.apartmentfinder.com)
 ApartmentFinder.com was the most frequently mentioned specific website to
locate an apartment home.
 Rent.Com and ApartmentGuide.com were the second and third most commonly used.
The top search engine mentioned was Google, used by 72% of those who used a search
engine to locate an apartment home.
 Yahoo came in second, used by 26% of shoppers using a search engine.

11. Apartment Renters’ Study 11
Specific Targeted Media Used: The Internet, cont.
 The average Targeted Media User spent
approximately 12 hours looking for an
apartment via the Internet.
Higher-Level Income Renters spent an
average of 13 hours.
Lower-Level Income Renters spent 8
hours looking online for an apartment
 ApartmentFinder.com has a strong stickiness factor –
meaning prospects spend more time on Apartment
Finder’s web site. Average is 9-10 minutes.

12. Apartment Renters’ Study 12
Specific Targeted Media Used: The Internet
Satisfaction with using the Internet as an information resource was high.
• 94% of Targeted Media Users said they were extremely or very satisfied.
Rich Online Content Drives Activities to Properties
•Most users were prompted to call apartment community’s telephone number
•Inclined to drill down to the community’s website page and view photos,
floor plans, get driving directions
•Want key information to help them make a decision on which communities to
visit in person (rental rates, amenities of unit, amenities of property)
• 96% said that logging onto an apartment website was very helpful in
deciding to visit a community in person.
The Internet was a helpful tool in driving
Target Renters to apartment communities

13. Apartment Renters’ Study 13
Appealing to the Renters
In an advertisement for an apartment, certain elements appeal to different prospective
renters. Respondents say price is the number-one factor in rental decisions, regardless
of the type of shopper. Here’s what stands out (besides price) to our primary targets:
Targeted Media Users Higher-Level Income
 Amenities / features / details
 Uniqueness of Floor plan / layout
 Photos
 Area / location / neighborhood
and

14. Apartment Renters’ Study 14
Likelihood of Using Features
Some amenities offered by apartments/communities are more
important to prospective renters than others. The top five amenities
that our targets would “definitely” or “probably” use are:
Targeted Media Users Higher-Level Income
1. Swimming pool
2. Onsite gym or fitness center
3. Valet garbage removal
4. On-site business center
5. Private movie theaters
and
1. Valet garbage removal
2. Swimming pool
3. Onsite gym or fitness center
4. On-site business center
5. Private movie theaters
How the message is delivered is important!!
A person is more likely to lease if they like the leasing specialist.

15. Apartment Renters’ Study 15
Essential Features & Amenities
When it comes to finding a place to call home, the renters with higher incomes and
more access to information have more demanding tastes and preferences. When
deciding which apartment to rent, our targets take into highest consideration:
Targeted Media Users Higher-Level Income
1. Monthly rent
2. The size of rooms
3. Amount of closets or storage space
4. Floor plan (any unique)
5. Cable- or wireless-ready apartment
and
Other important elements—
 Number of bathrooms
A private patio or terrace
If you have it –
Brag about it!!