We end 2018 with a bang by featuring the first-ever compilation of all ORA Power Rankings published in the year. The December issue, 2018 Year-End Summary, gives a comprehensive view of the properties and companies ranked in the monthly rankings published this year.
The count of properties we track for online reputation has skyrocketed. Currently, we monitor the online ratings and reviews of more than 92,000 developments nationwide across 19+ review sites and ILSs. This gives us a unique perspective on the progression of online reputation in the multifamily industry. The national average ORA score is 61.50 as of the end of November 2018.
Review Volume Continues to Register Steep Growth
As of Q3 2018, we recorded close to 7 million reviews for the 78,351 properties tracked in that quarter. The total volume of reviews in Q3 grew 10% over Q2—610,757 reviews were added in Q3 across various review sites and ILSs. The market share of review sites and ILSs based on the volume of reviews as of Q3 2018 is as follows: ApartmentRatings (34%), Google (21%), ApartmentGuide (11%), Rent.com and Facebook (both at 9%), and Modern Message (6%).
Residents Are Closely Watching the Online Reputation of Their Management Company
According to various studies conducted this year, it's evident residents and prospects are highly dependent on online ratings and reviews and, increasingly, even manager responses in their apartment shopping process. More than 39,000 conventional residents rated the importance of the online reputation of the management company managing their apartment at a high of 7.85 on a 10-point scale. Although residents consider multiple factors while deciding to rent at a property, online reviews account for a significant 52% of the total influence. In a separate study involving more than 19,000 students, the influence of online reviews was rated at 47%. In our annual Leaders’ Survey for 2018, dealing with online ratings and reviews is among the top challenges for apartment executives across the board.
Biggest Names Among the 2018 ORA Power Rankings:
- The Bozzuto Group was the No. 1 manager among the NMHC Top 50 managers for 2017 by online reputation, for the fourth consecutive year.
- The Skygarden (Charleston, S.C.), managed by The Cardinal Group, bagged the top spot among students in the student housing Elite 1% ranking for 2017. Skygarden continued its lead in the August refresh as well.
- The Dinerstein Cos. was the No. 1 student housing manager by online reputation based on the 2017 Top 25 Student Housing Managers compiled by Student Housing Business.
- For the second consecutive year, AvalonBay Communities was ranked the No. 1 multifamily REIT for 2017.
- Washington, D.C., was the leading “state” among apartment residents, for the fourth consecutive year. The top property in D.C. was AVA NoMA, managed by AvalonBay.
As the competition heats up, it will be interesting to see which properties secure a spot in the Elite 1% Ranking for 2018, to be announced in January 2019.
About the ORA Power Rankings
Developed by J Turner Research, the ORA Power Rankings are a monthly, independent ranking of apartment properties and management companies based on their Online Reputation Assessment (ORA) scores. A property or management company is not required to be a J Turner Research client to qualify for this ranking, which is published by J Turner’s media partner Multifamily Executive. To learn more or to request your ORA score, visit www.jturnerresearch.com/about/what-is-ora-score.
Methodology
The ORA score is an aggregate compilation of a property’s ratings across 19-plus review sites and ILSs. Each month, J Turner Research monitors the online ratings of more than 92,000 properties nationwide. Using a statistical model, a single score based on a scale of 0 to 100 is assigned to each property. This score serves as a benchmark to compare a company’s individual properties and portfolios nationally, regionally, and against the competition.
