uncommon apartment
TRANSCRIPT
Discussion question
Why aren’t majority of the residences of uncommon apartments renewing their leases for the following year?
Research Problems
investigated resident satisfaction
investigating why residences terminated their lease and moved elsewhere
DemographicsDemographics
College Students in the Eugene Area
Economic Environment
Studio $851
one $846
two $483
three $420
Studio $1359
One $1459
Two $899
Three $799
Average Rent in Uncommon apartments
Average Rent in October 2015 in Eugene
Average rent in Springfield compared to Eugene: $836 vs $966
Average US apartment rent range: $984-$1,518
Social/ Cultural Environment
VS
Company- CA Ventures
Alliance
Suppliers
Main Competitors
Customers
In depth-Interviews
Six interviewees-- All lived at Uncommon 2014-15
3 Renewals
&
3 Non-Renewals
Survey Research
Survey for all residents who didn't renew the lease in Uncommon.
47 out of 300 started survey
36 feedbacks completed
9 open-ended 7 close-ended
Biases and Limitations
Instrumentation Bias:
Over-demanding recall
Limitations:
● Only have sample size as people who did not renew.
● 253 people not respond
Conclusion (The Good) Uncommon is Highly sought after
60% of respondents like the location of Uncommon
44% of respondents favorite aspect of Uncommon were the amenities (gym, hot tub, washer dryer, etc.)
Respondents rated the outside look of the building on average 5.74 out of 7
Conclusion (The Bad)
The Hub is more desired than Uncommon
Overall Experience at Uncommon ranked 2.94 stars out of 5
64% never considered renewing with Uncommon
Conclusion (The Ugly) Rent Price and Staff Performance were the main reasons of not renewing
With Cross Tab, changing the price by $50 and Lease Length to 9-months had little to no effect
Staff Performance was a negative indicator
Recommendations1. Highlight the Amenities and the Location in advertising for renewals and new
leasing
2. Staff Performance needs to change, whether that is hiring new more qualified staff, or training the staff
3. More research is needed to determine how low the rent must go for people to want to renew even with bad staff performance