Thursday, November 20, 2008

2009 Apartment Owner Survey Predicts Coming Trends for Improvements, Advertising

J. Turner Research has released its Apartment Market Industry Outlook Survey for 2009. Among the findings:

  • 54% of owners plan to increase print advertising, 64% plan to increase online advertising.
  • In the coming year, 50% of owners plan to increase spending on in-unit kitchen upgrade, 43% plan to increase spending on bathrooms, 42% plan to improve flooring and 40% plan to improve fixtures.
  • 40% of landlords surveyed also said they plan to improve common areas and 47% plan to add WiFi.
  • Regarding the country's economic conditions, 47% said they felt the economy was having a negative impact, and 37% said it was having a positive impact.
  • 40% of owners said they had experienced some increase in site traffic as a result of a recent home foreclosure.  45% of owners said they were requiring residents with foreclosures to pay additional deposits or increasing their rates. 
Other areas covered in the survey included questions regarding the importance of a multifamily property being "green" and what tactics are most often employed and planned by owners to make properties more green.