March 27, 2015
BANNER EARNS HIGHEST-IN-CATEGORY AWARD THANKS TO EXCEPTIONAL SATISFACTION MARKS FROM RESIDENTS
SatisFacts Research is thrilled when it sees a client not only talking about achieving high resident satisfaction marks – but more importantly is when they get there. Said another way, it is gratifying to see firms that not only “talk the talk” but even more importantly “walk the walk.” Therefore it is exciting that Banner Management is not only talking – but also walking.
In 2014 Banner earned “Exceptional” resident satisfaction scores and the “Highest” score of any client that manages between 5,000 and 9,999 units from its Insite® resident feedback program (which included the Move-In, Work Order Follow Up, and Unclosed Traffic programs). These programs monitor day-to-day customer service delivery performance. In 2014 Banner achieved an astonishing 4.57 on a five point scale. This score is not only at the top award winning level (scores between 4.50 -5.00), but is significantly above the 4.26 SatisFacts Index, multifamily’s benchmark based on results for more than 200 property management companies. Only approximately 10% of our clients achieve an Exceptional score for their portfolio – so Banner is in a very small list of top performing firms. A total of sixteen (16) of the company’s properties also won a resident satisfaction award:
Enclave at Winghaven
Riachi at One21
The Greenway at Carol Stream
The Wellington at Willow Bend
“Award winning resident satisfaction ratings can be attributed to the management company’s leadership and team members focusing on the actionable best practices that the Insite® feedback program surveys address,” states Doug Miller, SatisFacts founder and president. Miller continues, “And the results from the feedback program show that residents notice and appreciate this commitment. Earning an Exceptional award is quite significant as renewal likelihood is dramatically impacted when this level is achieved.”
Miller adds, “Besides the significant impact that superior service delivery has on resident retention, and reducing costly and controllable turnover, clients achieving award winning scores also can proudly promote a significant marketing advantage – being able to tell prospective residents that an independent third party research company reports that residents rate their performance as superior.” Expanding on the latter point, Miller states, “We like to say it this way – promoting a property or company winning an award in ads is like being able to say, ‘Forget what our ad says…look at how fantastic our residents think we are.’”
Miller continues, “Quality assurance has always been an area of great passion, focus and attention for Banner. And their results validate this.”
SatisFacts Research (www.satisfacts.com), a division of Internet Brands (www.InternetBrands.com), is the multifamily industry’s resident satisfaction research and retention authority. SatisFacts Research’s satisfaction survey and feedback systems Take the Guesswork Out of Retention™, and help clients reduce turnover and grow NOI. Having worked with millions of units nationally, SatisFacts is the industry’s retention authority. To obtain more information, contact Doug Miller, SatisFacts, at 866.655.1490 x100 or firstname.lastname@example.org.
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