The 2019 year-end summary is a compilation of the flagship ORA Power Rankings published last year. To download the report, visit www.jturnerresearch.com/2019-year-end-power-ranking.
Eight years ago, we began tracking the online reputation of more than 48,000 properties. Today, we monitor the online ratings and reviews of more than 116,000 properties nationwide across over 21 review sites and ILSs. The national average ORA score is 62.99 as of the end of December.
As a significant development in 2019, we introduced the Division ORA Power Rankings – Division I, II, III, and IV – to expand the ORA awards recognition to include all management companies managing over 2,000 units. This provides the opportunity for smaller companies to compete for ORA recognition. For the past five years, we limited this recognition to the NMHC Top 50 management companies, where we rank the Top 10 of this group by online reputation. Division I comprises the Top 10 of the NMHC Top 50 management companies. The remaining three divisions were determined based on the management companies and unit count obtained from ALN Data Services in May.
Review volume in 2019 grew by 19%
As of 2018, we recorded close to 7.8 million reviews for the 101,261 properties tracked in that year. The total volume of reviews in 2019 grew 19% over 2018 to 9.3 million across 116,910 properties. The market share of the dominant review sites and ILSs based on the volume of reviews as of 2019 is as follows: ApartmentRatings and Google (28% each), Modern Message (10%), Apartment Guide (9%), and Facebook (7%).
The influence of online ratings and reviews on prospects’ decision-making is on the rise
According to a study involving more than 22,000 residents, although multiple factors affect their decision to rent at a property, online reviews account for a significant 58% of the total influence, up from 52% in 2018.
In our annual Leaders’ Survey for 2019, dealing with online ratings and reviews continues to be among the top challenges for multifamily executives across the board.
Biggest names of 2019 ORA Power Rankings
- Elite 1% 2018: The Courts of Devon (Gaithersburg, Md.), managed by The Bozzuto Group, was the No. 1 property in the country. A total of 1,234 properties earned the Elite 1% status. (The Elite 1% rankings are for the previous year and were published in January 2019.)
- Sterling 920 Terrace (Tempe, Ariz.), managed by The Dinerstein Cos., bagged the top spot in the student housing Elite 1% ranking for 2018.
- For the third consecutive year, AvalonBay Communities was ranked the No. 1 multifamily REIT.
- The Dinerstein Cos. was the No. 1 student housing manager by online reputation for the second consecutive year.
- Washington, D.C., topped all states among apartment residents, for the fifth consecutive year. The top property in D.C. was 2701 Connecticut, managed by WC Smith.
The much-awaited Elite 1% 2019 ORA Power Ranking will be announced shortly. Stay tuned.
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 21 plus review sites and ILSs. Each month, J Turner Research monitors the online ratings of more than 116,000 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.
