Data is the driver of business. And when that data is solid, operators can be confident in the decisions they are making.

Pivotal data that should be a part of all marketing endeavors can be found by analyzing what your prospective residents want. There are various ways to gather this data, including asking prospects how they found you, what they are looking for in an apartment home, and what their target rent is, but smaller pools of prospects may not provide enough information to draw broad conclusions.

RentPath has nearly 9 million unique visitors to its sites every month, and their search behavior provides valuable insight into what they want from their next home. We closely analyzed this data to get a greater understanding of the search experience and how we can further optimize the process. We then combined this data with information gathered through ongoing ethnographic research, observing renters while they are searching to uncover what they want, need, and expect from the search process.

Based on our findings, here are the top five ways you can ensure you are meeting prospects’ needs:  

• Be transparent about total pricing picture: It is no longer acceptable to provide a price range for apartment homes at your communities. Today’s renters are becoming accustomed to full transparency about a product or service, as well as the ability to gather information almost instantly. As such they expect unit-level pricing, and they want deposits, fees and any included utilities to be included in the pricing information.
  
  Keep in mind that these details can’t be buried in your listings but should be shown on a single page. An interactive floor plan is the best way to make pricing information as transparent as possible. The technology that drives interactive floorplans helps provide a visual understanding of how location within a building can impact pricing.
  
  Also consider adding a section to your listing where prospects can select optional add-ons such as pet rent, extra parking, or storage space. Consumers are comfortable with this model and will have a better understanding of their all-in price up front, helping them feel confident they have selected the right unit, at the right time, and for the right price.
  
  

• Share updated, unit-level availability: Once prospects have determined that your apartment homes meet their budget, the next key piece of information they seek is availability. Most consumers have a keen understanding of their exact move date, so providing them with the ability to see which units are available in their timeframe will further help move them along in the decision process.
  
  Interactive floor plans built with real-time availability indicators empower prospects to select their exact future apartment home without having to spend time calling communities to determine availability.
  
  

• Provide detailed lease requirements: Today’s renters are savvier than ever before - they want transparency in pricing and expect the same transparency when it comes to lease requirements. They are motivated by knowledge, and they don’t want anyone to waste their time. They want to know up front what the minimum requirements are - including income, credit score, and security deposit - to make sure they will not be denied a lease.
  
  While some of this information varies from community to community, being able to include the minimum requirements for renting can help deter unqualified applicants from contacting you and reduce time wasted by your leasing team.
  
  

• Highlight recent reviews: If you include reviews on your listing or your community website, make sure they are current. Renters want to see a high volume of recent and authentic reviews to garner a more robust understanding of what living at your community is like.
  
  And please don’t be worried about negative reviews. Think of reviews as a public relations opportunity. As long as you have a proper online reputation management program and are responding to reviews in a timely, professional manner, you’ll demonstrate a commitment to delivering excellent customer service.
  
  

• Include apartment home interior photos: At this point, prospects have determined that your pricing matches their budget, that you have the available unit that meets their move-in timeframe, and that they are happy with your online reviews. Now they are trying to imagine themselves (and their belongings) in your community.
  
  The best way to deliver on this last aspect is to provide unit-specific photography. This needs to go beyond traditional shots of the kitchen, the bathroom, and the views. Take photos of every room from multiple angles. Consider also providing a sense of the living experience during the day and in the evening. This transparency is the best way to set an accurate expectation for prospects.

Your renters want what they want when they want it. Housing costs are by far the biggest expense they have, and so they have very specific expectations of their future home. By following these data-driven suggestions, multifamily marketers can create an excellent online search experience for their prospects, save time for their leasing teams, and set the stage for a pleasant resident experience.