Multifamily Industry Trends Q2 2015 To request permission to use Kingsley data, please contact: Peggy Robinson, Vice President of Marketing
Overall resident satisfaction Overall Resident Satisfaction 78% % Satisfied 76% 74% 75.9% 75.7% 75.9% 75.8% 75.7% 75.6% 75.4% 76.2% 76.4% 76.6% 76.7% 76.7% 72% 70% 2
Overall resident satisfaction by market Overall Resident Satisfaction by Market Q2 2015 Q2 2014 74% 82% 75% 75% 77% 76% 81% 77% 79% 75% % Satisfied 0% Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York San Francisco Seattle Washington, DC Change +1.9% +1.2% 0.8% +0.1% +1.0% +0.7% 0.5% +1.1% 2.9% 1.2% +2.3% 3
Value for amount paid Value for Amount Paid 70% % Satisfied 50% 57.6% 57.3% 57.3% 57.8% 58.4% 58.4% 58.1% 56.9% 56.0% 55.1% 54.5% 53.9% 30% 4
Value for amount paid by market Value for Amount Paid by Market Q2 2015 Q2 2014 % Satisfied 59% 57% 56% 57% 54% 52% 48% 50% 49% 54% 54% 0% Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York San Francisco Seattle Washington, DC Change +0.4% 3.3% 1.4% 0.8% +0.2% 3.4% 4.8% 7.7% 9.0% 4.4% 2.7% 5
Renter renewal intent Renter Renewal Intent 70% 65% % Likely 55% 57.5% 57.0% 56.1% 54.4% 54.7% 54.9% 54.8% 53.8% 53.5% 53.4% 53.2% 52.3% 50% 6
Renter renewal intent by market Renter Renewal Intent by Market Q2 2015 Q2 2014 % Likely 53% 58% 56% 53% 49% 50% 49% 56% 49% 53% 54% 0% Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York San Francisco Seattle Washington, DC Change 0.1% +0.1% 4.2% 0.2% 2.0% 2.6% 7.5% 0.2% 5.1% 2.1% +0.1% 7
Renewal decision factors Top Renewal Decision Factors Q2 2012 Q2 2015 % of Respondents 0% 32% 56% 43% 51% 34% 36% Rental rate Location management 36% 32% Apartment features / finishes 26% 32% Security 33% 32% appearance 13% 27% Floor plan 11% 22% amenities 12% 19% Lease terms 8
Renewal decision factors Top Renewal Decision Factors Residents LIKELY to Renew Q2 2014 Q2 2015 % of Respondents 73% 71% 46% 49% 44% 45% 44% 43% 36% 39% 42% 39% 33% 36% 25% 28% 19% 21% 0% Location Rental rate management appearance Security Apartment features / finishes Floor plan amenities Too much trouble to move 9
Renewal decision factors Top Renewal Decision Factors Residents UNSURE of Renewal Q2 2014 Q2 2015 % of Respondents 55% 66% 44% 37% 24% 25% 17% 25% 23% 23% 22% 17% 22% 23% 19% 0% Rental rate Location Apartment features / finishes Security management appearance Lease terms Floor plan Too much trouble to move 10
Renewal decision factors Top Renewal Decision Factors Residents UNLIKELY to Renew Q2 2014 Q2 2015 % of Respondents 0% Rental rate 30% 31% management 26% 25% Apartment features / finishes 22% 23% 23% 17% 19% 18% 18% Location Security Other appearance 14% 16% Lease terms 12% 14% amenities 13% 14% Floor plan 11
Leasing priorities Top Decision Factors Leasing Process Q2 2014 Q2 2015 % of Respondents 90% 89% 83% 83% 73% 64% 49% 53% 37% 90% 90% 83% 83% 75% 66% 53% 51% 39% Location / Convenience Property Appearance / Quality Floor Plan / Layout of Apartment Rental Rate Staff / Management Amenities Online Reviews / Ratings Closet / Storage Space 's "Green" Practices 12
Kingsley Solutions 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
THE standard for performance benchmarking and management consulting San Francisco Atlanta