What to include in a resident satisfaction survey

April 24, 2024

TABLE OF CONTENTS

Home is one of the most important places in someone’s life. So as a property manager, you don’t want to take it for granted that your residents have chosen your property as their home. For the sake of your residents, you want to make sure you’re keeping tabs on areas where you’re meeting, exceeding, or falling short of their expectations. 

This is for your business’s sake, too, though. According to a 2023 report, satisfaction with the property management team is the biggest deciding factor in whether someone renews their lease or not. That means that being proactive about providing a great resident experience is a highly lucrative strategy. 

You don’t want to wait for problems to arise, finding out what issues you need to address in online reviews or from complaints piled on your leasing team or maintenance staff. 

One property manager we talked to mentioned an open forum as a great way to gather this feedback. During this forum, he discovered a myriad of issues to improve upon, including roof leaks that were never addressed, a problem residents gave up submitting work orders for. “If I hadn’t opened up for feedback, I would have never known,” he said. 

Resident satisfaction surveys

Although hosting an open forum is a great strategy, it’s perhaps not the most convenient or feasible way to get consistent feedback from a variety of residents. That’s why sending out resident satisfaction surveys on a regular basis is a common solution to staying on top of evolving resident expectations.

Using the responses you get from these surveys, you can get ahead of problems as they’re just beginning and discover/invest more in the areas that you’re really shining. 

In terms of cadence, it’s typically a good idea to send out broader surveys on a regular basis, such as once a quarter or twice a year. You could also layer on additional context-specific surveys to engage residents at certain points in their experience. One property manager we talked to recommended the following:

“I’d recommend also sending them individually like after a work order is completed, a week after move-in, and a few months ahead of renewal.”

Key areas to touch on in a resident satisfaction survey

Everyone knows that the success of your survey is dependent on what you ask. You want to strike a good balance between asking enough questions to get valuable insights, but not too much where you overwhelm or annoy your residents. You also want to make sure that the questions themselves get to the heart of issues that matter. 

So we’ve talked to some property managers and dug into online forums and stats to determine what topics to touch on in your resident satisfaction survey. The tips below will give you the best shot at curating an experience that’s most likely to lead to renewals. 

Overall living experience

Of course, you want to pull some insight on how they feel about their overall living experience on your property. 

Apartment features

Start by asking about what they interact with every day: their apartment unit. 

Ask questions about:

  • The functionality and modernity of appliances
  • The availability of desirable features like air conditioning or in-unit laundry
  • The apartment layout

While the feedback you collect here may not be something you can immediately act upon, it can guide projects for your property. For example, if you see that everyone wishes they had air conditioning, but most people are fine with on-site instead of in-unit laundry, you have a clear indicator of where to invest in future upgrades. 

Maintenance

92% of residents say that they’ve had a negative experience with maintenance. This points to a massive opportunity to request feedback about how you can improve the maintenance experience. 

One property manager we talked to couldn’t overstate how important (and low cost) it is to improve maintenance response times when it comes to improving the overall resident experience:

“Start with stellar maintenance response times on work orders. This is the #1 priority that cost $0. I have a property built in the 60’s that’s 1000 units. My resident satisfaction would be significantly better if not for maintenance shortfalls.”

Ask questions about how quickly and effectively maintenance requests are handled, as well as your resident’s perception of how friendly or helpful the maintenance staff was. You can ask these questions in a broader resident satisfaction survey as well as immediately after maintenance requests are fulfilled.  

Cleanliness and upkeep

Tidy common areas are another major driver of a positive experience for many residents. You may want to include a question or two about the perceived cleanliness of common areas and the exterior of the property, including trash management, landscaping, and other upkeep like paint or pipes.

Management

There are several logistical considerations that your residents take into account in their overall satisfaction. 

Communication

Your team’s ability to communicate effectively has an incredible impact on the resident experience. Communication is critical for problem resolution, updates on policies, community news, and many other instances. 

Poor communication is typically one of the quickest ways to ruin a resident’s experience. A quick scan of any low-rated apartment building is riddled with complaints of terrible communication.

Look at the following review for a Los Angeles apartment complex: 

But on the flip side, good communication is also one of the easiest ways to fix a poor resident experience. One property manager shared a story with us of the transformative power of communication at a community they took over: 

“I took over a community about three years ago that was not loved on. Not by any means. If I remember, 1.4 stars. The residents hated everybody. I spent about three months just being a KIND person. Treating people with respect. Learning their names. Asking people how they are doing in their home, and GENUINELY meaning it…Sometimes you don’t have to jump through hoops to improve resident satisfaction.”

In your resident satisfaction survey, probe for their feelings about how your communication is. Include questions about the logistical factors like frequency of communication, availability of channels to contact staff, and how well-informed they feel about changes, but also ask about how they feel about the more human aspects of communication. 

Pricing

Although you may have very little wiggle room in the amount that you’re charging for rent, you still may want to inquire about how much value your residents feel like they’re getting from the price they’re paying, and if it will be a barrier to renewing their lease. This could guide long-term pricing decisions.  

Amenities

The main draw for many large apartment complexes is the amenities that come with them. As Wise Property Management mentioned:

“Well-maintained and thoughtfully designed amenities enhance the overall living experience, creating a sense of community and shared spaces that residents value and appreciate.”

So you should absolutely ask about how your residents perceive your amenities on your resident satisfaction survey to make sure you’re packing the biggest punch possible. 

Quality, upkeep, and availability

Especially if you have a large property and/or a small on-site team, you may not notice when issues arise with your amenities. This gives you residents an opportunity to bring these issues to your attention. 

It’s also an opportunity to see if there’s a shortage of any amenities. For example, let’s say you only have two treadmills in your fitness center, so they’re often in use when another resident heads there to use them. This survey can indicate to you that you may want to impose time limits or look into adding more treadmills.

Utilization

You should also ask questions about what amenities your residents are actually using, including parking. You may find some amenities have very little demand, while others are a hot commodity with residents. This knowledge can inform future decisions on which amenities to update or replace. 

Safety and security

Feeling safe is one of the most crucial components of a comfortable living environment. So you want to make sure you address this topic on your resident satisfaction survey. 

You could ask more general questions like how safe they feel in the community during the day and at night, as well as more specific questions about the effectiveness of your safety features, like night patrol officers, cameras, and parking gates

This section of the survey could also probe into any areas where residents feel vulnerable and ask for suggestions on improving security.

Ease and accessibility

There are few things that residents hate more than inconvenience, so creating a smooth overall experience should be near the top of your list of priorities as a property manager. 

Some areas that may be ripe for improvements are:

Parking

Ask your residents how easily they’re able to navigate parking themselves, or how easy it is for their guests to find a place to park. This could include asking about preferences for reserved vs. unreserved spaces, the availability of parking amenities like EV chargers, logistical issues like parking gate access, how effective they perceive your enforcement strategy, and more. 

Parking is often a major thorn in the side of residents, so your survey may reveal the need to address shortages or spot assignments, or to revamp your parking processes from manual systems like spreadsheets to a digital parking management system like Parkade

Accessible access

Even if you’re compliant by law with ADA guidelines about the number of accessible spots and ramps that you have, there may be a gap between those guidelines and the actual experience for people with disabilities or limited mobility. 

You may want to include some questions asking about how effectively they feel their needs are met with accessible accommodations like ramps, accessible parking spots, elevators, and wider doorways or passageways.

Convenient technology

Increasingly, residents are craving a tech-driven experience with their apartment complex. Here are some numbers to illustrate this growing need:

  • 45% of renters said that they wanted an automated system for maintenance requests.
  • More than 75% of residents indicated in a survey that they would pay more for a package of 3 smart home amenities.
  • In a survey where participants were asked what technologies were most important to them as a renter, over 55% said online payments, the second highest answer on the list.

Your resident satisfaction survey could dig into some of the areas where you’re not using technology currently, or the technology you are using is outdated, to identify areas for improvement. 

How to send the survey

If you’ve never sent out a survey before, you may be a little unsure about the best method to collect this feedback. 

Google forms is a popular free option that allows you to create a really simple survey that allows you to easily collect information from your residents. There are also purpose-built resident survey platforms like Respage that offer just a bit more sophisticated survey functionality. Depending on the property management system you use, there may be survey capabilities directly in the platform, giving you the added convenience of keeping everything in one place. 

Of course, the final, most important step is distributing the digital survey. To ensure that you get the most (and most reliable) responses possible, distribute the survey through a variety of channels. For example, you could send emails with a link to the survey, post fliers with QR codes around the property and leasing office, and leave a card with a QR code at residents’ doors. 

If you anticipate struggling to get the number of responses you like, you could even look into offering some kind of an incentive, whether you make something small (like a $5 gift card) available to everybody, or enter a smaller number of people into a raffle for a larger prize (like a $100 gift card).

Taking action after the survey

Your resident satisfaction survey shouldn’t stop at collecting responses, though. To make the effort you put into creating and distributing the survey worth it, you need to take some time to dig into the results, pull out interesting insights, and prioritize what you want to take action on. 

For example, let’s say many people expressed concern that the pool was always too crowded for them to be able to enjoy. Perhaps this leads you to put up a gate to ensure only residents can use the pool (if you find that non-resident guests are the problem), or if your community is large, you may decide to put in a second pool. 

Another example could be that you receive a lot of feedback that you don’t have enough parking spots in your lot or garage. This could be an indicator to dig into ways to make the most of the parking spaces you do have, or do a more extensive overhaul of your parking management strategy. 

Another possible way to leverage this feedback is to highlight it in your marketing materials like social media, flyers, or your website. If you get any incredible quotes demonstrating the positive experience you provide for your residents, go ahead and flaunt it.

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BlogParking Management Software ROI

Investigating the ROI of parking management software

With parking being one of the largest drivers of ancillary revenue at multi-family properties, it's imperative to get it right. But just how much return can you expect from parking management software? Read on to find out.

Published: August 7, 2024
Hannah Michelle Lambert
Content Writer
Boosting ancillary revenue is often a major focus for property managers and owners alike.

Especially given that the baseline forecast for rent growth is slightly lower this year than average (2.5% versus 2.9%), properties are increasingly looking for ways to raise their bottom line without compromising the quality of living for their residents. 

One often overlooked but significant opportunity lies in parking. If managed well, it’s a potential treasure trove for additional revenue. But that’s only if it’s done well. 

Parking tends to be one of the biggest thorns in the side of a property manager. Because traditional systems — like spreadsheets and rentable items — are not built to handle tenant parking efficiently, teams aren't able to reap the full benefits parking has to offer as an ancillary revenue source. As soon as a team makes the decision to invest in a proper parking management system, the benefits often more than pay for themselves.

In this guide, we will explore those benefits, touching on both the financial and operational upside of a solid parking management strategy.

We’ve combed the data from all of our clients to identify the exact numbers to prove that there truly is ROI in parking management systems like Parkade. 

Understanding parking management

Before we dive into the numbers, let’s first establish a baseline of what exactly parking management entails. As any property manager will tell you, it involves much more than just hanging a tag on a resident’s car and calling it a day.

The key components of a parking management system are:

  • A system of record to track parking assignments, lease lengths, vehicle details, and parking prices, ideally integrated with your PMS.
  • An enforcement strategy that ensures parking rules are clear and establishes consequences (typically fines or towing) when someone breaks them.
  • A method to pay for parking, whether it’s bundled in with rent (which we don’t recommend) or paid for in a separate system.
  • A self-serve system for residents and guests to book long or short-term parking. 
  • If there is a gate on the property, provisioning and deprovisioning of gate entry should also be considered in the parking management strategy. 

The old-school way of addressing these needs isn’t cutting it anymore. Many properties are still using manual processes, like an Excel spreadsheet, rentable items, or even a physical piece of paper to keep track of their parking. 

And far too often, properties are relying too heavily on staff members to handle parking matters that take up a significant amount of time, like enforcement or guest parking.

Moreover, there’s one point that just can’t be ignored: If you’re still using old-school parking management systems like spreadsheets and rentable items, you’re leaving money on the table. 

So the parking management we’re discussing here that delivers positive ROI is a technology-led solution that automates all aspects of parking operations, improves resident experience, and unlocks new revenue streams.

Setting the stage: Residents value good parking

Delivering on resident expectations should be a main priority for any multifamily property, and parking is one area of the resident experience that is especially critical to consider here. 

65% of property managers cite parking as a top concern among residents. Whether it’s for existing residents or prospective residents, providing a simple, reliable, and flexible parking solution has a direct impact on the success of your property. 

Part of this is due to reputation. Properties have reported a 44% increase in their reputation scores after fixing their parking problems. And this boost in a reputation score can trickle into several different areas, boosting not only the number of new residents, but also leading to more renewals from existing residents.

But we know you want the hard dollar amounts, so let’s talk more about some real-world outcomes that Parkade's parking management software delivers. 

So, what do the numbers say about the ROI of parking management software?

Long-term net parking revenue for stabilized buildings

Once properties implement a system to help them optimize pricing and management of long-term parking, they see immediate gains in their long-term parking revenue. The average 6-month increase in net long-term parking revenue for the cohort of 7 properties we sampled was 24%, translating into thousands of extra dollars. 

Long-term net parking revenue for lease-ups

Better parking management also empowers properties to far outperform their projected revenue from long-term parking when they’re in the lease-up phase. 

On average, properties from the cohort we sampled estimated that they would bring in $15,925 on average from long-term parking revenue per month. But thanks to Parkade helping them optimize their parking strategy, better enforce their parking rules, and keep a better record of who is parking where, the average revenue from long-term parking was $23,450 on average, which is a 47.3% increase from the estimates in their pro forma. 

Total net parking revenue for stabilized buildings

For buildings that are already at full occupancy, the average increase in parking revenue sits at 31% once they implement Parkade’s parking management solution. 

Revenue metrics for lease-ups

The best time to implement new parking management systems is at the inception of the building. Getting parking right from the beginning ensures that you are maximizing total parking revenue from day one, as well as establishing a positive reputation around parking. Many properties underestimate the revenue from long-term parking and may often leave out potential short-term parking revenue altogether. 

When a few properties we worked with during this phase were estimating parking revenue at the start of their lease-up, they estimated around $35,000 on average. But the results, since they decided to go with Parkade right from the start, blew those numbers out of the water. In reality, they were able to bring in closer to $58,000 on average, which is a 66% increase from the estimates.

Short-term parking: An opportunity

The boost in revenue continues to be apparent when you zoom out to look at short-term parking, too. Short-term guest parking can be one of the most underutilized revenue streams, and represents a huge opportunity for multi-family properties to tap into. However, it's historically been very difficult or impossible for properties to see this revenue without parking management software that automates the process.

Especially in popular areas, like city centers or near shopping malls and sporting arenas, there’s often a high demand for short-term parking. When properties put a system in place to monetize this guest parking, they can unlock hundreds or even thousands of extra dollars per month. 

Automating guest parking

Without a good system in place to manage parking, many properties often leave guest parking as a free-for-all (meaning they don’t make money from it), or if they do attempt to monetize guest parking, it turns into a massive beast to handle. 

Erica, a property manager at Thrive Properties, told us about her pre-Parkade experience with guest parking, preventing them from delivering on a key resident need: “There was no world where we were doing short-term parking by the hour or even by the day because there was just no way to manage that.”

If you have a complicated or inconvenient system for guests to reserve parking, especially one where they have to walk into the office during office hours, guests are often more likely to try to get away with not paying for parking. (And if you don’t have a great system to enforce parking, they may very well get away with it).

With the right parking system, you’re able to give guests a flexible, 24/7 solution, removing any previous barriers that may have caused them to break the rules out of convenience. 
Maximizing guest parking availability

Another way that manual parking management may stand in the way of effectively monetizing guest parking is the inability to accurately track how many spots you have available for guests to reserve in the first place. 

Taylor, the property manager at Strata and Venue, shared her experience of desperately needing more guest parking and discovering they had a full 50 more open spots than they thought. 

“We actually had way more spots that we could have used for guest parking, but we didn’t know that because of the way we were using our parking system. Not to mention, we wouldn’t have the system to leverage them without a Parkade.”

When your parking management system gives you an accurate, real-time view of available spots, you can leverage guest parking to its full capacity.

Utilizing idle parking spots

A reliable parking-management system also allows you to make the most use of every single spot available. With technology that uses smart inventory management, properties can release idle or unassigned parking spots into the system for short-term use. So spots that would have otherwise been sitting empty between leases can suddenly be leveraged as an extra revenue-generating spot in the meantime. 

Net revenue for short-term guest parking

When properties have a great system to implement paid guest parking, without putting too much strain on their staff, they immediately see a boost in revenue.

They’re able to turn an operation that was perhaps bringing in no money — or some revenue, perhaps at the expense of staff time —  into a significant revenue source with little-to-no staff involvement. 

On average, Parkade customers experience a 303% increase in their guest parking revenue after Parkade fees. And there were some properties that saw almost a 400% increase.

Opex (operational expenses) savings

When handled manually, parking management can steal hours from on-site property management teams every week. Between fielding requests or complaints from residents, tracking down parking records, walking the lot to enforce rules, handling guest parking, and manually inputting rentable items, parking can quickly balloon into one of the most time-consuming tasks for staff.

Parking management software can automate away a lot of the most tedious aspects. For example, Parkade gives residents self-service access to reserve and pay for parking (while allowing for any rule sets the property wants to enforce), provides hands-off enforcement support, and even automates gate access via the app so that teams don’t have to worry about distributing or replacing clickers. 

Properties have seen that the time teams no longer spend on parking leads to a direct decrease in operational expenses. As a result, they can redistribute those team members' time to more meaningful tasks.

On average, we’ve seen properties decrease their operational expenses by $60,000-$100,000 from savings on parking operations alone. This means that they were able to save what’s equal to a full-time employee’s salary. 

Annual NOI improvement

All of the revenue metrics mentioned up until this point have been after Parkade's fees. 

When you roll everything up together — both the increase in revenue (after fees) and the opex savings — investing in parking management software has an incredibly positive impact on annual Net Operating Income (NOI).

Whether teams are looking to calculate their property value, secure financing, make operational decisions, or pitch to investors, NOI is one of the most critical numbers to boost. 

By coming at NOI from both sides, in terms of opex savings and revenue generation, parking management technology is extremely low-hanging fruit when it comes to boosting NOI. 

At the Parkade properties we surveyed, teams saw anywhere from a $66,000 to $126,000 improvement to their net operating income from parking alone. 

While parking may not seem like it deserves to be the biggest priority for many properties, the numbers tell a different story. By investing in a proper parking solution, properties are able to significantly improve upon all of their business goals, whether it’s boosting revenue, streamlining operations, improving resident experience, or all of the above. 

About Parkade

Parkade is the #1 parking management software for multi-family buildings. With our resident-facing app and staff dashboard, parking runs itself. Your team will boost revenue, reduce time spent on parking, and improve experience for residents and guests, all without lifting a finger.

Explore our features below, built for communities just like yours.

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