In the recently released 2018 NMHC 50 Largest Apartment Managers ranking, we learn which property management companies have grown in terms of size, but how have these firms performed with regard to their online reputation?
For the fourth year in a row, The Bozzuto Group bagged the No. 1 spot as the NMHC 50 manager with the highest online rating, with an ORA of 80.76. The company's score increased 2% since last year, when its ORA rating was 79.13.
In a repeat of last year’s performance, AvalonBay Communities continues its pursuit of the top spot, missing it marginally. AvalonBay scored 80.17 to register a 2% jump in its ORA score from last year.
Gables Residential ranked third on the list, with an ORA of 76.98. Gables’s score increased by 4% over last year. MAA, meanwhile, scored 76.44 to take the fourth spot.
The biggest gainer this year, however, is Cortland Partners. Cortland improved its ORA score by 10%, moving from 68.56 in 2017 to 75.20 in 2018, to take the fifth position in the ranking. Last year, the company ranked sixth. Greystar’s score leaped 9% over the same period, from 65.95 in 2017 to 71.58 this year.
In the latest national research report by J Turner Research, more than 39,000 residents gave a high rating to the importance of the online reputation of the company that manages their apartment home. Respondents rated reputation at 7.85 on a scale of 0 to 10.
The average ORA score of the top 10 managers has increased by 5% in the past year, from 71.69 in 2017 to 75.36 this year. The national average ORA score is 60.39.
|ORA Rank||Company||2018 NMHC 50 Rank||2018 ORA||2017 ORA||% Change|
|6||Camden Property Trust||21||74.49||72.2||3%|
About the ORA Power Rankings
Developed by J Turner Research, the ORA Power Rankings is a monthly independent ranking of apartment properties and management companies based on different parameters. A property or management company isn't 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 find your ORA score, visit www.jturnerresearch.com/about/what-is-ora-score.
The ORA score is an aggregate compilation of a property’s ratings across various review sites. Each month, J Turner Research monitors the online ratings of more than 75,000 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 and contrast a company’s individual properties and portfolios nationally, regionally, and against the competition.