The Recipe for Repeat Rental Business

If you can make it there, you can make it anywhere – New York City! RentJuice followed Frank Sinatra’s wisdom as they gathered data from renters in NYC. The whitepaper generated by this data is rich in helpful insights and recommendations –for rental professionals nationwide, not just New York. The nice folks at RentJuice have allowed us to offer a few highlights here, but we recommend that you check out the full whitepaper for more – it’s free from this page on RentJuice.com.

Renters Want to Use the Same Broker
We had to include this image – it’s just so clear and unambiguous. Better yet, it’s good news for rental professionals. Renters want to give you their repeat business; you just need to earn it. That’s where the next findings come in. What matters most when renters are choosing a rental professional?

Honesty Matters
There’s a lot being said right now about the importance of positioning yourself as a “neighborhood expert.” While we’re not going to contradict that this can be helpful, the data from RentJuice seems to suggest that it’s certainly not one of the top factors. Instead – what matters most to renters (and, taking a broader view, any consumer looking for a REALTOR®) is honesty. After honesty, access to apartments, commission, and inventory knowledge follow. Local knowledge appears last, with only 10%.

Stick to the Facts
Renters aren’t looking for fluff when they visit your website. In fact, the RentJuice data shows that renters care little about neighborhood details or agent bios. What do they want? Concrete details about available listings.

RentJuice asked, “The most important thing a rental company’s website can have is . . .” and here’s what they found:

• 55.8% want detailed info on specific listings

• 35% want access to the full listings database

• 7.5% want neighborhood details

• 0.8% want multiple contact options

• 0.8% want information on individual agents.

Other Key Findings
How important is social media? How much do renters care about your office? The answers to these questions and more can be found in the whitepaper, available for (free) download on RentJuice.com.

About the Data
Kyle Paice of RentJuice explains that the data for the whitepaper was gathered from a survey of 21 questions given to renters in NYC. “We’ve got over 175,000 unique listings in New York City alone. With that much of the market using the RentJuice platform, we felt an obligation to conduct market research and help our customers uncover the best ways to establish long-term relationships with their clients.”

For more information about the survey’s results, check out this PowerPoint presentation from David Vivero, the founder of RentJuice.

About RentJuice
RentJuice is a rental marketing platform. It provides brokers and property managers with the tools they need to find tenants and sign them to leases as quickly as possible. To learn more, you can visit www.RentJuice.com.