SatisFacts & ApartmentRatings 2022 Awards Criteria Changes

We want to congratulate everyone on their 2021 achievements in awards for both SatisFacts and ApartmentRatings. As we all know, there has been huge growth in the multifamily industry and resident satisfaction is more critical than ever.

Over the years, we have been monitoring our metrics for resident satisfaction, and while management companies and onsite teams have moved to provide quality service to their residents – our measurements for excellence have not adjusted to align with that higher level of performance.

For 2022, we are modifying the awards criteria for SatisFacts Annual and Insite Survey awards and ApartmentRatings Top Rated awards. Please read these changes carefully, review your current standing in regards to the new awards criteria, and reach out to our education team if you feel an action plan would help your company and/or communities to stay on target to earn awards for 2022.

SatisFacts Survey Awards Criteria Change

In previous years, an overall score of 4.00 would qualify companies and communities to earn a SatisFacts award (in addition to meeting the minimum survey requirement). In 2021, we administered over 2.5 million surveys resulting in a 4.39 overall SatisFacts Index. As of 2022, the SatisFacts Index currently stands at 4.38; further proof of the need to make adjustments to our awards criteria to recognize those performing at a consistently high level.

SatisFacts Awards Criteria for 2022:

To earn a Company Award:

  • Annual Survey: Minimum overall score: 4.25 and 100 completed surveys.
  • Insite Survey: Minimum overall score: 4.25 and 100 completed surveys for all modules under contract with the exclusion of Move Out and On Notice surveys
Companies earning a 2022 SatisFacts Award will receive a trophy delivered to the corporate office. Digital award logos will also be available in Exchange. 

To earn a Community Award:

  • Annual Survey: Minimum overall score: 4.25 and 25 completed surveys.
  • Insite Survey: Minimum overall score: 4.25 and 25 completed surveys for all modules under contract with the exclusion of Move Out and On Notice surveys.
Communities earning a 2022 SatisFacts Award will receive a window cling. Digital award badges will also be available in Exchange.

ApartmentRatings Top Rated Awards Criteria Change

The epIQ Index (Experience and Performance Intelligence Quotient) is the most authentic, relevant, and actionable resident experience and community performance data metric in the multifamily industry. With that in mind, to consider a community as “top rated” on ApartmentRatings, we must align our standards for what a truly epIQ community looks like.

As companies and communities across the nation continue to raise the bar for their standard of excellence, we must also raise the bar on our end to recognize those who are the best of the best when it comes to delivering a top rated experience.

ApartmentRatings epIQ Top Rated Awards Criteria for 2022:

To earn a community award:

  • Community must have at least 5 new reviews in 2022
  • Community must have an A+ overall epIQ Grade at time of awards calculation
  • *The epIQ Index is subject to change daily. Award determinations are made based on the community’s epIQ grade as of the last day of the calendar year.
Communities earning a 2022 ApartmentRatings Top Rated Award will receive a window cling. A newly designed “A+” epIQ Top Rated digital award badge will be available in Exchange. 

Updates to the epIQ Index Rankings for 2022

In addition to the SatisFacts Awards and ApartmentRatings epIQ Top Rated Awards, we will continue to acknowledge the highest ranking companies and communities in the epIQ Index.

Company level distinctions:

  • The top 100 management companies in each portfolio size category will be ranked in our Biannual Report, which will be published in January 2023.
  • A newly designed “epIQ top 100” digital badge will be available in Exchange.
  • The top 10 management companies in each portfolio size category will be recognized in the live announcement planned for January 2023.
  • NEW for 2022: The top 10 management companies in each portfolio size category will receive a trophy delivered to the corporate office.

Community level distinctions:

  • All epIQ Top Rated communities nationwide will be ranked in our January 2023 Biannual Report, which means it will not only showcase the Top 250, but all communities with an A+ epIQ Grade.
  • The top 10 communities nationwide will be recognized in the live announcement planned for January 2023.
  • NEW for 2022: The top 10 communities nationwide with the highest epIQ Index for 2022 will receive a trophy delivered to their community.

Our education team provides Annual Survey and Insite Survey performance reviews, in addition to portfolio-level epIQ Index improvement sessions throughout the year. If you would like to learn more about scheduling an epIQ Index improvement session or to make sure you’re on the invite list for the next round of Insite performance reviews, please fill out the form on our education page.

Additional changes to the epIQ Index, including the update to Review Reply Time beginning November 2022, were announced in January 2022 and are included in this article.

The Art of Outreach Marketing Top Takeaways and Q & A

Our February 2022 Power Panel on the topic of Outreach Marketing was well attended with significant engagement. What we learned is that the topic of Outreach Marketing is still very relevant and very challenging. There are so many questions and there are so many avenues.

Our panelists touched on some of those “old school” techniques and how they have revived them as well as how they are using new, innovative techniques. 88% of the attendees rated it a 4+ with 100% of of the attendee feedback being positive. Because of this, and the many questions and comments we received on the value of this topic, we’ve created a blog post to make sure we cover all questions from the webinar (visit the Webinars Power Panels series in the Education Library to watch) as well as a few additional requests for follow up from our expert panelists.

Thank you again to the wonderful panelists: Tiffany Haney with JVM Realty, Melania Armenta with RangeWater Real Estate, and Jessica Adams with Grubb Properties.

Top 3 Takeaways:

  1. As one of our attendees, Jennifer G commented: “My takeaway from this panel is that by building your outreach with experiences and local partnerships, you have, as a bonus, created an amenity for your community/company!” One main focus that all 3 panelists mentioned, is utilizing partnerships with vendors and local businesses. Build rapport and even friendships with them, communicate regularly, and create experiences that mutually benefit both parties. One of our panelists, Melania Armenta, an Experience Marketing Manager for RangeWater Real Estate, coined the term “Marketing Floss” and described it as marketing hygiene ie regular outreach marketing maintenance. By regularly going out, meeting with your neighbors and businesses and being stewards of your community, you open up a world of possibilities where more partners will come to you to want to host or sponsor an event, your residents and community partners will be helping build your brand awareness, and you will build long lasting relationships within your community.
  2. Building a social media following and relationships within the community takes time. Start small and continue building. As Jessica Adams, one of our panelists who is a pre-leasing specialist at Link Apartments® Innovation Quarter mentioned, they started their Win It Wednesday giveaways on social media by purchasing a $25 gift card from a local business. They had to have an Outreach Marketing budget for purchasing these gift cards, but this event has become so popular on social media, because they tagged their partner businesses as well as used tagging as a contest rule, that their partner businesses have begun adding extra items to the giveaways, and new partners have reached out asking to sponsor giveaways. All of the panelists mentioned that hosting outreach events doesn’t have to require a large budget and eventually pays off with vendor partners wanting to help because it is mutually beneficial for them as well. Grow your audience organically by regularly sharing your social media presence with your residents, providing fun content, and hosting small (or large) giveaways that make a big impact. Make sure to use tags and hashtags, encourage vendor partners to share on their social channels, and make Liking/Following your social channels and tagging friends part of your giveaway and contest rules.
  3. Residents are your influencers. Melissa DeCicco, our Director of Client Performance and Power Panels moderator, showed some results from our Online Renter Study regarding sense of community. There were so many takeaways from our latest study (download free report here), but one thing we learned is that residents highly value a sense of community. 39% of residents said they visit their community’s social media to check on news and updates about the community. 34% said they visit to see the calendar of community events. When potential residents see content related to sense of community on your social media channels, and better than that, see other residents commenting, engaging, and showing they’re happy at your community, they see VALUE. When you host events (big or small, in-person or virtual, onsite or off-site), this helps build positive brand awareness, increases resident retention, and brings in referrals. Additionally, one of our panelists, Tiffany Haney, mentioned building value with resident testimonials. Her residents create video testimonials which she uses on her community’s Instagram stories as well YouTube channel. One of our attendees commented TikTok Testimonials would work as well. At SatisFacts & ApartmentRatings, we see senior living communities in our Top Ranked reports with excellent social media engagement and review ratings because they build relationships with their residents and their residents reciprocate – and that’s all it takes. It doesn’t matter the type of community, the resident portfolio, or the budget, if you invest the time and resources into building a sense of community, building relationships, and regularly nurturing those relationships, you can be successful at outreach marketing.

Follow Up Q & A:

Q1: Can you provide a copy of the “signed agreement” for the loyalty program recommendation? Also, would love to see an example of the custom coaster you’re giving the local bars nearby.

  • A1: Tiffany Haney, Senior Community Manager with JVM Management and one of our panelists today, was kind enough to provide examples of some of her outreach techniques.
    • Coasters with QR codes that she regularly leaves during her visits to local businesses.
    • She created an in-house Resident Loyalty Program in which she partners with local businesses to provide discounts to her residents.

We reached out to Tiffany and she provided an image of her coaster, which you can see HERE, as well as an image of her loyalty program details, which you can see HERE. Additionally, Tiffany provided details regarding her loyalty program. She created a one page document that includes the vendor partner name, a paragraph thanking them for participating in the loyalty program and letting them know that they are agreeing to offer a discount exclusive to her property which will be a one year agreement. The document states that they must give a 30 day notice if they wish to end the agreement or if they wish to amend it during the one year. The document also includes a picture of the key tag that she provides to her residents for the discount. She and the vendor both sign it and get a copy. Her residents are provided the key tag that they have to present at the time of their visit to the vendor partner.

Q2. For social media, do you have an addendum or a clause in the lease that they sign giving permission to use the images?

  • A2: Our recommendation is to check with a representative in your company or HR to see if there are company specific requirements. One of our attendees mentioned they have a clause in their leasing contract regarding using resident images, so check with a sister property or company representative who may be able to provide one.

Q3: Can you talk about the best practice to get gifts for win it wednesdays?

  • A3: Jessica Adams, one of our panelists, discussed the social media giveaway her community hosts weekly called Win It Wednesdays. This has been a very popular and effective outreach marketing strategy for her team and she had a lot of great information to share. For her community specifically, they are walkable to many local businesses, so they partner with those local businesses, buy gift cards or merchandise from them (and sometimes receive additional swag), and host a giveaway on their social media channels and tag the partner business as well. The rules to win are to follow both their social channel and the partner business and tag a friend in the comments. This creates exposure for both businesses and helps build the relationship. They share the post to their story, tag the partner business, and encourage them to share on their story to help increase followers for both businesses. By allowing anyone to win their giveaways, it brings new people into the community to claim their prize, leading to a potential new resident. We encourage you to Follow and check out their Link Apts Innovation Quarter Instagram for all of the fun and innovative ways they are using their social channels for effective outreach marketing.

Q4: If you don’t have one main space – i.e. one building for all residents – where do you propose we hold these events? How should we hold our events? Additionally, due to COVID – what outdoor activities and outreach marketing do you suggest?

  • A4: All of our panelists had some helpful answers to this question. One of the biggest takeaways was branded “Away Games” by Jessica with Grubb Properties. Take your events off-site. All of our panelists offered great examples of ways they’ve incorporated off-site and virtual events and outreach opportunities. From pre-packaged giveaways to luncheons at preferred employer’s offices to virtual Yoga, cooking classes, and virtual cocktail making and Happy Hour experiences.

Get your pencil and paper ready, because there are so many fantastic ideas to implement from The Art of Outreach Marketing webinar!

Biennial Online Renter Study [February 2022 Release]

Examining the behaviors, preferences and implications of renters across the country

Get ready to dig into 10 years of renter data! Download our free report to learn all there is to know about how shopping habits and expectations of renters across the country have evolved.

Download the report to learn more about:

  • The importance of reputation
  • Top leasing and renewal motivators
  • Most desired social media content
  • Top amenities, features, and services

2022 epIQ Index Updates: epIQ Just Got Even More EPIC!

The ApartmentRatings & SatisFacts design and development team recently released several brand new features for all manager center clients. These tools will help your teams more easily promote your epIQ Grade, as well as provide additional tips and education on how to improve your epIQ Grade and exceed renter expectations.

Find out what’s new with epIQ:

Dynamic epIQ Badge:

You can now display your epIQ Grade on your company and/or community website with an embeddable epIQ Badge. This is a dynamic badge so as your grade changes (hopefully only going up), it will automatically reflect on your website. To access your badge, login to the Exchange platform and select Awards in the left menu. For the company badge, you will see the Embed Badge box at the top of the page. Click that to get the code. If you would also like to embed your individual community badges, select the ‘Community epIQ Badges’ tab in the table. Click on each community and then click Copy Code to get each of their badges. There are white background and dark background options depending on the design colors of your website and where you plan to place the badge. Switch the toggle next to Dark Badge to see the second option for your preference. Once you have copied the code, you can embed it anywhere on your website.

Legend Managent Group logo and epiq company badge

Legend Management Group

coomunity epiq badge with WRH and 11 East Forsyth logos

11 East Forsyth Apartments with WRH Realty

Rate the Manager Response:

Renters can now rate the manager’s response to a review. When a response is submitted by the manager, the original reviewer will receive an email that there is a response and be given the opportunity to rate it. Additionally, visitors checking out reviews will be given the opportunity to rate responses as well. A visitor must create an account or sign in to their current account on ApartmentRatings in order to rate a response. **This new feature does not currently factor into the epIQ Score and will not in 2022.

review and new rate review response box with arrow pointing to it

There are 2 purposes for this new feature:

  1. We have seen over the years that renters notice canned/templated responses. In fact, 79% of renters from our 2021 Online Renter Study said they believe they can recognize one. And when asked how they feel about a templated response vs a response that acknowledges and addresses specific details/complaints in a review, renters responded with a very negative 2.2 sentiment to templated responses vs a 4.4 very positive sentiment to acknowledging specifics in responses.
  2. Much like visitors of products and services on many sites, it’s important for customers to rate the helpfulness and quality of the products they plan to purchase to help other buyers in their decision making process. The ultimate goal of ApartmentRatings is to do just that; provide renters with the best and most authentic information to help them in their apartment rental decision.
Review Reply Time:

This change is coming in November 2022, but in order to make sure all companies and communities are prepared for the change and have put effective action plans in place to ensure all reviews are being responded to based on renter expectations, we are sharing this change now. Coming November 2022, in order to earn an A+ for Manager Review Reply Time, the component which makes up 10% of the overall epIQ Index, a review must be responded to within 1.99 days. For an A, response time must be at least 2.99 days, and 3.99 days for an A-. The response time will change for all grades A-F, so it’s important to review your current response times now and prepare for this future shift. To check your current average response times, login to the Exchange platform, select Performance Reports from the menu on the left, and then select Response Trends.

epiq grade chart with a+ through F reply time ranges
respone trends report with graphs
Education Library:

This brand new feature is now available in the Exchange platform! You can now easily find all the educational information you need regarding epIQ, Insite & Annual Surveys, and Power Panels webinars. Plus, additional articles, webinars, videos, and more education for ApartmentRatings & SatisFacts.*This is an ongoing project and our education team will continue to add relevant content, which can all also be found at SatisFacts.com.

Get epIQ Education:

If you have any questions on any of these new features and how to best utilize them, reach out! Access to our education team is always free and available!