If there were ever any doubt as to how important property ratings and reviews are to residents of multifamily housing, this month's ORA report should dispel them.
In our latest research, more than 28,000 residents rated the impact of online ratings and reviews on their decision to visit a property at 7.33 (on a scale of 0 to 10, with 10 being the highest), proving that apartment communities need to closely watch their digital curb appeal.
This issue of ORA™ Power Rankings focuses on the top 10 properties by online reputation in the 26 to 50 most-populous MSAs (metropolitan statistical areas) in the nation. For each MSA, we also provide the ORA - Online Reputation Assessment score. Earlier in March, we ranked the top 10 properties in the top 25 MSAs in the nation.
Overall, nine of the top 26 to 50 MSAs performed above the national average ORA of 59. The most reputable among the 26-to-50 group is Raleigh–Cary, NC, with an ORA of 66. Three properties, in particular, have tied for the No. 1 spot in this MSA: Bexley at Heritage (Wake Forest, N.C.), managed by Weinstein Properties; The Franklin at Crossroads (Raleigh, N.C.), managed by Drucker and Falk Real Estate; and Link Apartments at Glenwood South (Raleigh), managed by Grubb Properties. All three scored 92.
At 63, the second-most reputable MSA in the 26-to-50 ranks is Virginia Beach–Norfolk–Newport News, VA–NC. Two properties have tied for the first position in this MSA, with an ORA of 93 each: St. Andrews Apartments (Newport News, Va.), managed by Perrel Management, and Old Donation Apartments (Virginia Beach, Va.), managed by Drucker & Falk Real Estate.
Of the 250 properties listed in the top 26-to-50 group, 71 scored 90 or above. The apartment with the best “digital curb appeal” in this ranking is Pohlig Box Factory (Richmond, Va.), managed privately. It scored 97, the highest ORA in this ranking. Close on the heels of Pohlig Box Factory are three properties with a score of 95 each: The Hamilton (Fishers, Ind.), managed by J.C. Hart; Stewart Village Apartment Homes (Sunnyvale, Calif.), managed by Irvine Co.; and Sorrento (Overland Park, Kan.), managed by Price Brothers Management Co.
Fifty-seven of the 250 properties are privately managed. Towne Properties manages nine of the properties, the most in the top 26 to 50 MSAs list. Four companies have tied for the second spot, with six properties each: Drucker & Falk Real Estate, Fogelman Management Group, 1st Lake Properties, and Mandel Group. Alliance Residential, Greystar, and MAA manage five properties each, to take the third position on this list.
About ORA Power Rankings
ORA Power Rankings is powered by J Turner Research in association with media partner Multifamily Executive. Each month, MFE publishes a new ranking of apartment properties and management companies based on different parameters.
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 64,000 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 with competition.
Questions? Please contact the J Turner Research team, at [email protected]