Multifamily Industry Trends Q3 2015 - Kingsley Associates · Multifamily Industry Trends Q3 2015 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |[email protected]

Multifamily Industry Trends

Q3 2015

To request permission to use Kingsley data, please contact: Shelby Lee, Marketing Manager 770.908.1220 ext 227 | [email protected]

CONFIDENTIAL | Ⓒ Kingsley Associates

2 Business intelligence for the real estate industry.

Multifamily Industry Trends Q3 2015 For permission to use Kingsley data, contact Shelby Lee:

770.908.1220 ext 227 |[email protected]

Overall Resident Satisfaction

75.7% 75.9% 75.8% 75.7% 75.6% 75.4%

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

70%

72%

74%

76%

78%

80%

% S

atis

fie

d

Overall resident satisfaction





Overall Resident Satisfaction by Market

75%

82% 81%

75% 74%

78%

76%

81%

77% 79% 76%

0%

20%

40%

60%

80%

100%

Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York SanFrancisco

Seattle Washington,DC

Q3 2015 Q3 2014

Overall resident satisfaction by market %

Sat

isfi

ed

Change +1.9% +1.9% +1.5% -1.6% -0.3% +0.7% -0.5% +0.3% -3.2% -1.8% +2.4%





Value for amount paid

Value for Amount Paid

57.3% 57.3% 57.8% 58.4% 58.4% 58.1% 56.9% 56.0% 55.1% 54.5% 53.9% 53.5%

30%

40%

50%

60%

70%

80%

% S

atis

fie

d





Value for Amount Paid by Market

60%

59% 56% 56%

53%

52% 47%

50% 48%

54% 54%

0%

20%

40%

60%

80%

100%



Q3 2015 Q3 2014

% S

atis

fie

d

Value for amount paid by market

Change +0.9% +0.3% -1.9% -2.2% -1.4% -1.4% -3.3% -6.6% -8.7% -2.8% -1.8%





Renter Renewal Intent

57.0% 56.1%

54.4% 54.7% 54.9% 54.8% 53.8% 53.5% 53.4% 53.2%

52.3% 51.9%

40%

45%

50%

55%

60%

65%

70%

Renter renewal intent %

Lik

ely





Renter Renewal Intent by Market

52%

59% 55%

52% 48% 50% 48%

56%

49% 52%

54%

0%

20%

40%

60%

80%

100%



Q3 2015 Q3 2014

% L

ikel

y Renter renewal intent by market

Change -2.1% -0.1% -4.5% -1.9% -3.3% -2.4% -5.9% -0.2% -5.3% -1.5% 0.0%





Top Renewal Decision Factors 5

4%

52

%

35

%

28

%

33

%

32

%

25

%

19

%

17

%

56

%

52

%

36

%

33

%

32

%

32

%

27

%

22

%

20

%

0%

20%

40%

60%

80%

100%

Rental rate Location Communitymanagement

Security Apartmentfeatures /

finishes

Communityappearance

Floor plan Communityamenities

Lease terms

Q3 2014 Q3 2015

Renewal decision factors %

of

Re

spo

nd

en

ts





Top Renewal Decision Factors – Residents LIKELY to Renew 7

2%

47

%

44

%

44

%

36

%

41

%

34

%

26

%

19

%

71

%

49

%

45

%

43

%

40

%

39

%

36

%

29

%

21

%

0%

20%

40%

60%

80%

100%

Location Rental rate Communitymanagement

Communityappearance

Security Apartmentfeatures /

finishes

Floor plan Communityamenities

Too muchtrouble to

move

Q3 2014 Q3 2015


of

Re

spo

nd

en

ts





Top Renewal Decision Factors – Residents UNSURE of Renewal 6

1%

38

%

20

%

25

%

23

%

18

%

20

%

19

%

19

%

66

%

39

%

26

%

25

%

24

%

22

%

22

%

20

%

19

%

0%

20%

40%

60%

80%

100%

Rental rate Location Security Apartmentfeatures /

finishes

Communitymanagement

Lease terms Communityappearance

Floor plan Too muchtrouble to

move

Q3 2014 Q3 2015


of

Re

spo

nd

en

ts





Top Renewal Decision Factors – Residents UNLIKELY to Renew 6

1%

30

%

26

%

20

%

22

%

17

%

18

%

14

%

12

%

13

%

60

%

31

%

25

%

24

%

24

%

20

%

19

%

16

%

14

%

13

%

0%

20%

40%

60%

80%

100%

Rental rate Communitymanagement

Apartmentfeatures /

finishes

Security Location Other Communityappearance

Lease terms Communityamenities

Floor plan

Q3 2014 Q3 2015


of

Re

spo

nd

en

ts





Resident Satisfaction - Community Events

59.1%

60.3% 60.6% 60.7%

59.4% 59.2% 59.2% 59.7%

61.6% 61.0% 60.6%

50%

55%

60%

65%

70%

% S

atis

fie

d

Satisfaction with community events





Resident Satisfaction with Security by Market

73%

91% 88%

82% 86%

70%

77%

84%

70%

81% 79%

0%

20%

40%

60%

80%

100%



Q3 2015 Q3 2014

Satisfaction with security by market %

Sat

isfi

ed

Change +6.3% -0.6% -3.4% -7.9% 0.0% -1.7% -3.2% +8.0% +5.3% -3.9% +0.2%

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Documents

Multifamily Industry Trends Q3 2015 - Kingsley Associates · Multifamily Industry Trends Q3 2015 For permission to use Kingsley data, contact Shelby Lee: 770.908.1220 ext 227 |[email protected]