gables 2015 kingsley results

2015 CORE Program 1

CORE Survey Program Presentation of Results

February 2016 On behalf of:

2 2015 CORE Program

Agenda

Process Overview

Overall Results

• Comparisons to Kingsley Index

• Time Trend Comparisons

• Breakdowns

Renewal Intentions

Service Delivery

• Drivers of resident satisfaction and loyalty

• Sales

• Management

• Maintenance

Next Steps

3 2015 CORE Program

PROGRAM METHODOLOGY Section I:

4 2015 CORE Program

Survey process and methodology

Surveys sent at different milestones in the resident lifecycle: • Prospect • Move-in • Service Request • Pre-renewal

Survey invitations launch weekly • Reminders 4 and 9 days after initial invitation

Kingsley Portal to monitor scores and review transcripts • Alert emails

Prospect lease decision Request for contact

Weekly Digests • Customized digests that include the 15 bonus questions (survey-specific)

Quarterly reports • Portfolio • Regional Vice President • Regional Manager • Region • Community • Compensation reports

Resident reviews automatically sent to ReviewPush, Apartment Ratings, and Apartment Guide

5 2015 CORE Program

Weekly community digest emails

Delivered every Tuesday to:

Community teams Community managers Regional managers RVPs Service managers Regional service managers Regional service trainers

Contain the 15 bonus questions

All residents who’ve completed a survey in the past week

6 2015 CORE Program

Kingsley Associates surveys over 3.5 million residents per year and the Index includes data from 9 of the 15 largest apartment managers (2015 NMHC 50).

Firms in the Kingsley IndexSM (Partial List)

http://www.prometheusreg.com/index.html

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=xXMU5zjJKy7DcM&tbnid=sOIG4QwinxokOM:&ved=0CAUQjRw&url=https://payments.nwpsc.com/ConsumerConsole/GreystarPortal.aspx&ei=qEtTUemNMaqYiALT-YGYAg&bvm=bv.44442042,d.cGE&psig=AFQjCNEhGIPpu7uNQcFfOercHc34E_VONA&ust=1364499749980200

http://www.kettler.com/

http://www.bozzuto.com/

2015 CORE Program 7

Online reputation management: Verified Resident Reviews

• Add-on service – new page after existing questionnaire

• No partial responses, and residents must enter a comment with >200 characters

• Ability to respond to resident feedback

• 2015 average reviews per month: 86

• Currently active for 87 communities

2015 CORE Program 8

Online reputation management: Verified Resident Reviews

3,553

3,816

4,372

42%

54%

63%

3,400

3,600

3,800

4,000

4,200

4,400

4,600

10%

20%

30%

40%

50%

60%

70%

June 2015 August 2015 January 2016

# of Reviews % Recommended

“A quiet, well-managed community with an excellent maintenance staff …”

-Gables Rock Springs 12/12/2015

“Moving out of town can be a bit scary, but the friendly staff at Gables Sugarloaf Apartments really made me feel at home.”

-Gables Sugarloaf 11/05/2015

“I have been here for 6 months and this place is great. Always quiet and very neat …”

-Gables Metropolitan Uptown 1/11/2016

2015 CORE Program 9

Online reputation management: Certified Resident Reviews

• Live for 103 communities

• You can select the top 2 reviews that

appear first in the list

• All responses go through a

moderation process

Increase traffic to your community

pages

Communities with reviews have twice the lease conversion rate

compared to those without reviews 7 of 10 residents consult

online ratings and reviews 2014 Kingsley / RentPath Study

10 2015 CORE Program

23% 21%

20% 19%

0%

10%

20%

30%

40%

All Surveys

18%

34%

21%

29%

18%

33%

19%

26%

16%

32%

17%

24%

16%

30%

18%

22%

Prospect Move-in Service Request Pre-renewal

2012 2013 2014 2015 Industry Average

Response Rates by Year

% R

esp

on

de

d

Responses

36

,38

1

36

,03

2

32

,91

8

30

,10

4

10

,89

2

11

,02

1

10

,08

2

9,4

14

5,7

32

5,8

71

5,7

18

4,7

79

12

,66

7

12

,26

4

10

,71

2

10

,71

0

7,0

90

6,8

76

6,4

06

5,2

01

Response rates trail industry average


2015 RESULTS SUMMARY Section II:


4.05 4.02 4.09 4.10 3.90

1.00

2.00

3.00

4.00

5.00

All Surveys

4.27

3.90

4.22

3.90

4.22

3.89

4.22

3.97 4.11

3.73

Move-in Pre-renewal

2015 Q1 2015 Q2 2015 Q3 2015 Q4 Kingsley Index

Overall Satisfaction by Survey Type

Ave

rage

Sco

re

Overall satisfaction trends upwards in Q4 and outperforms the Index

2015 CORE Program 13

Overall Satisfaction - Gables vs. Kingsley Index

Ave

rage

Sco

re

Overall satisfaction continues to exceed the benchmark

3.75

3.85

3.95

4.05

4.15

4.25

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Q32014

Q42014

Q12015

Q22015

Q32015

Q42015

Gables Residential National Average


3.94

4.03

4.10

4.20

4.03

4.23

3.89

4.05

4.01 4.00 3.97

4.16

3.90

3.75

3.85

3.95

4.05

4.15

4.25

2011 2012 2013 2014 2015

Ave

rage

Sco

re

Atlanta Austin California Dallas DC Florida Houston KI

94%

93%

89%

76% 72% 68%

Overall satisfaction trends upward in every region except Florida

Overall Satisfaction - by Region

Percentile Rank


Key Performance Indicators - by Property Class

4.14

4.44 4.28

3.45

3.97

4.33 4.16

3.45

1.00

2.00

3.00

4.00

5.00

OverallSatisfaction

Overall Impressionof Community

CommunityRecommendation

RenewalIntentions

Class A (n=16,413) Class B (n=13,455)

Ave

rage

Sco

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Residents at class A communities are more satisfied and likely to recommend the community


Key Performance Indicators - by Property Type

4.05

4.38 4.22

3.49

4.12

4.42 4.26

3.41

3.92

4.43

4.11

3.25

1.00

2.00

3.00

4.00

5.00

OverallSatisfaction



RenewalIntentions

Garden (n=15,556) Mid-rise (n=9,928) High-rise (n=1,617)

Ave

rage

Sco

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Residents at high-rise communities are least satisfied and least likely to renew their lease


Key Performance Indicators - Owned vs. Fee-managed

4.16

4.43 4.28

3.44

3.97

4.36 4.17

3.46

1.00

2.00

3.00

4.00

5.00

OverallSatisfaction



RenewalIntentions

Owned (n=15,085) Fee-managed (n=12,547)

Ave

rage

Sco

re

Resident satisfaction is higher at owned assets


2.50

3.00

3.50

4.00

4.50

5.00

Overall Satisfaction - by Community vs. Kingsley Index

% D

iffe

ren

ce

87 communities exceed the KI

27 communities trail the KI

Overall satisfaction exceeds the Index at more than ¾ of communities

Top 5 Communities Overall Satisfaction Response Count

Desert Club 4.48 189

Gables Oak Creek 4.47 55

Broadway Knolls 4.47 118

Gables Centerpointe 4.46 35

Gables Point Loma 4.46 92

Bottom 5 Communities* Overall Satisfaction Response Count

Central Park Altamonte Springs 3.16 99

City West 3.24 93

Mission Gate 3.34 148

Vinings Corner 3.41 95

The Berkshire 3.43 181

KI: 3.90

*Only communities with more than 10 responses are included in the tables above


Overall satisfaction improves from prior year at majority of communities

Most Improved

Community Name 2014 2015 %

Change

Aqua Isles 3.00 4.14 38%

Kings Crossing 3.57 3.98 12%

Mizner Park Apartments 3.42 3.78 11%

Waverly Village 3.65 4.00 10%

Island Club 3.61 3.91 8%

Gables Uptown Tower 3.86 4.16 8%

Gables Ponce 3.51 3.78 8%

Gables Upper Rock 4.10 4.36 6%

Gables Woodley Park 4.10 4.36 6%

The Berkshire 3.23 3.43 6%

Largest Decline

Community Name 2014 2015 %

Change

Gables River Oaks 4.58 4.13 -10%

Mission Gate 3.65 3.34 -8%

Central Park Altamonte Springs 3.45 3.16 -8%

Gables Mirabella 4.31 4.04 -6%

215 C Street 4.05 3.80 -6%

Matthews Reserve 4.36 4.10 -6%

Gables Park 17 4.37 4.11 -6%

Gables Park Plaza 4.23 4.03 -5%

Gables Boca Place 3.98 3.80 -5%

Gables Upper Kirby 4.28 4.09 -5%

Most Improved and Declined Communities


Rating Area Gables 2015

KI Percentile

Rank

Sales Staff - Knowledge 4.58 4.37 92%

Sales Staff - Responsiveness 4.52 4.33 86%

Community Recommendation 4.23 4.04 84%

Management - Responsiveness 4.11 3.92 83%

Sales Staff - Professionalism / Courtesy 4.61 4.47 82%

Overall Satisfaction with Move-in Experience 4.19 4.10 70%

Convenience of Office Hours 4.29 4.19 66%

Renewal Intentions 3.45 3.38 65%

Maint. - Cleanliness after Work Performed 4.52 4.45 65%

Quality of Building 3.82 4.10 16%

Quality of building is the only category below the Kingsley Index

Largest Differences to the Kingsley Index


Resident Comments

Lack of cleanliness • Buildings • Common areas • Lobby • Stairs • Courtyards

Improved landscaping

Pest control issues

Mold

Pet feces

All 7 regions trail the Index in quality of building; 77% of communities below

Quality of Building by Region 2015

Kingsley Index 4.10 Houston 3.96 Austin 3.89 California 3.88 Florida 3.82 Atlanta 3.81 DC 3.79 Dallas 3.74

Quality of Building - Notable

Communities 2015

Gables McKinney Ave 4.75 Gables River Oaks 4.47 Gables Centerpointe 4.45 Kingsley Index 4.10 Gables Portfolio 3.82 Gables Uptown Tower 3.19 Waverly Village 3.17 City West 3.11 Vinings Corner 3.10 Flats at Wheaton Station 3.08 Gables Katy Trail 2.94 The Berkshire 2.80 Mizner Park Apartments 2.71 215 C Street 2.54


Rating Areas Gables 2014

Gables 2015

%

Change

Exterior Appearance / Cleanliness 4.28 4.40 2.8%

Condition upon Move-in - Fitness Center 4.15 4.22 1.6%

Condition upon Move-in - Business Center 4.33 4.40 1.6%

Landscaping 4.30 4.36 1.5%

Quality of Building 3.88 3.82 -1.4%

Maintenance - Notification of Completed Work 4.48 4.39 -2.0%

26 out of 30 rating areas improved from 2014

Largest Improvements / Declines from Prior Year


54%

65%

69%

75%

77% 80%

80%

84%

90%

91%

92%

96%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Community's green practices

Walkability to social activities / retail

Online reviews / ratings

Controlled access gates

Convenience to social activities

Proximity to work / school

Community / company reputation

Quality and variety of amenities

Quality of interior features / fixtures

Apartment floor plan / layout

Price / rental terms

Community appearance / quality

% High Priority (4s and 5s)

Gables 2015

96% of residents indicate community appearance and quality is a high priority in their initial lease decision

Priority in Initial Lease Decision

Kingsley Index


RENEWAL INTENTIONS Section III:


Satisfied residents are more likely to renew their lease

0% 3% 18%

59%

83%

0%

20%

40%

60%

80%

100%

Poor Fair Average Good Excellent

% L

ike

ly t

o R

en

ew

Impact of Satisfaction on Stated Renewal Intent

1,371 of 1,649

1,269 of 2,168

140 of 764

11 of 332

1 of 230


Renewal Intentions - Gables vs. Kingsley Index

Ave

rage

Sco

re

Renewal intentions improve relative to the Kingsley Index

3.20

3.30

3.40

3.50

3.60

3.70

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Q32014

Q42014

Q12015

Q22015

Q32015

Q42015

Gables Residential National Average


Renewal intentions exceed the Index across 6 of the 7 regions

51%

52%

53%

53%

53%

58%

63%

51%

54%

53%

52%

24%

26%

22%

24%

24%

21%

20%

26%

23%

25%

26%

25%

22%

25%

23%

23%

21%

17%

23%

23%

22%

22%

Austin

Dallas

Florida

Houston

Atlanta

DC

California

Kingsley Index

Gables 2015

Gables 2014

Gables 2013

Likely Unsure Unlikely

Stated Renewal Intent


21%

23%

25%

27%

60%

37%

38%

41%

44%

69%

0% 25% 50% 75% 100%

Apt.features / finishes

Location / convenience

Security / safety

Staff / management

Rental rate

Security / safety

Comm. appearance

Staff / management

Rental rate

Location / convenience

Top Renewal Decision Factors by Renewal Intent

% of Respondents

Likely to Renew (n=2,770)

Unlikely to Renew (n=1,100)

Location, rental rate, and management are the top decision factors among residents likely to renew

Kingsley Index


SERVICE DELIVERY Section V:


Service interaction continues to be a key driver in prospect and resident satisfaction

Rating Areas Most Highly Correlated with Overall Satisfaction by Survey Type

Prospect Satisfaction Drivers

Sales Staff - Professionalism / Courtesy

Sales Staff - Knowledge

Sales Staff - Responsiveness

Exterior Appearance / Cleanliness

Landscaping

Move-in Satisfaction Drivers

Overall Satisfaction with Move-in Experience

Sales Staff - Knowledge

Sales Staff - Responsiveness

Condition upon Move-in - Recreational Facilities

Cleanliness of Apartment at Move-in

Service Request Satisfaction Drivers

Maintenance - Quality of Work

Maintenance - Responsiveness

Maintenance - Notification of Completed Work

Maintenance - Professionalism / Courtesy

Maintenance - Cleanliness after Work Performed

Pre-renewal Satisfaction Drivers

Management - Overall Satisfaction

Management - Problem Resolution

Management - Communication

Management - Responsiveness

Management - Professionalism / Courtesy

= Leasing Metrics = Management Metrics = Maintenance Metrics


4.52 4.48 4.57

4.15

4.58 4.52 4.61

4.19

4.37 4.33 4.47

4.10

3.00

3.50

4.00

4.50

5.00

Sales Staff - Knowledge Sales Staff -Responsiveness

Sales Staff -Professionalism / Courtesy

Overall Satisfaction withMove-in Experience

Ave

rage

Sco

re

Gables 2014 Gables 2015 Kingsley Index

Sales Staff - Gables vs. Kingsley Index

All sales staff rating areas increase from 2014 and continue to outperform the Index

Percentile Rank 92% 86% 82% 70%


Sales Staff Knowledge - by Region

The sales staff’s knowledge outperforms the Index in all 7 regions

4.37

4.52

4.54

4.56

4.57

4.58

4.65

4.66

4.72

KI

Atlanta

DC

Dallas

Houston

Gables Portfolio

Florida

California

Austin Top 5 Communities Sales Staff Knowledge

Response Count

Gables Cherry Creek 4.89 36

Gables Town Colony 4.86 66

Gables Palma Vista 4.86 91

Gables Mirabella 4.85 47

Westbrooke Place 4.85 111

Bottom 5 Communities Sales Staff Knowledge

Response Count

Beechs Farm 4.07 41

Emory Point II 4.09 43


Gables 12 Twenty One 4.17 65



Overall Satisfaction with Move-in Experience - by Region

Satisfaction with the move-in experience exceeds the Index in all 7 regions

4.10

4.11

4.13

4.18

4.19

4.20

4.21

4.32

4.38

KI

Dallas

Atlanta

DC

Gables Portfolio

Houston

Florida

Austin

California Top 5 Communities Overall

Satisfaction with Move-in

Response Count

Gables Centerpointe 4.85 13

Westbrooke Place 4.77 31

Gables Park Tower 4.76 29

Gables Dupont Circle 4.75 12

Highland Park Brownstones 4.73 11

Bottom 5 Communities Overall

Satisfaction with Move-in

Response Count



Beechs Farm 3.45 11


Gables McKinney Ave 3.53 19


4.49 4.50 4.56

4.63 4.57

4.51 4.51 4.52 4.64 4.60

4.29 4.28

4.46 4.45

3.00

3.50

4.00

4.50

5.00

Quality of Work Responsiveness Notification ofCompleted Work

Professionalism /Courtesy

Cleanliness afterWork Performed

Ave

rage

Sco

re


Maintenance Rating Areas - Gables vs. Kingsley Index

Maintenance scores are in line with the prior year and continue to exceed the benchmark

No

Kin

gsle

y In

dex

Ava

ilab

le

Percentile Rank 83% 88% 83% 79%


Maintenance - Quality of Work - by Region

California is the top performing region in terms of quality of work

4.29

4.38

4.48

4.50

4.51

4.51

4.54

4.59

4.67

KI

Florida

DC

Atlanta

Gables Portfolio

Dallas

Houston

Austin

California Top 5 Communities* Maintenance

Quality of Work Response

Count

Emory Point II 4.88 17

Gables Uptown Trail 4.84 100

Post Oak 4.83 105

Gables Town Colony 4.83 63

Broadway Knolls 4.81 185

Bottom 5 Communities* Maintenance

Quality of Work Response

Count


Kings Crossing 3.48 54


Gables Boca Place 3.65 60

Beechs Farm 3.77 52

*Only communities with more than 10 responses are included above


4.04 3.93

4.00 4.11

4.20

4.06 3.93

4.01 4.11

4.21

3.90 3.79

3.89 3.92

4.11

3.00

3.50

4.00

4.50

5.00

Overall Satisfaction Problem Resolution Communication Responsiveness Professionalism /Courtesy

Ave

rage

Sco

re


Management Rating Areas - Gables vs. Kingsley Index

All management rating areas significantly outperform the Index

Percentile Rank 80% 75% 71% 83% 70%


Management - Overall Satisfaction - by Region

California leads all regions in overall satisfaction with management

3.90

3.93

4.00

4.01

4.03

4.06

4.13

4.24

4.40

KI

DC

Dallas

Atlanta

Florida

Gables Portfolio

Houston

Austin

California Top 5 Communities* Mgmt. - Overall

Satisfaction Response

Count

Avignon Townhomes 4.69 61

Gables Point Loma 4.61 36

Desert Club 4.60 84

Gables Oak Creek 4.56 27

Gables Cityscape 4.53 43

Bottom 5 Communities* Mgmt. - Overall

Satisfaction Response

Count


The Berkshire 3.25 97

Gables Ponce 3.27 59

City West 3.29 34

Gables 12 Twenty One 3.31 13

*Only communities with more than 10 responses are included above


Key takeaways and next steps

Residents’ overall satisfaction is in the top quartile of the Kingsley Index

o Satisfaction improved over the past year across 6 of the 7 regions

Service delivery continues to be the key driver of resident satisfaction

o All leasing, management, and maintenance metrics significantly outperform the Kingsley Index

Continue providing high-quality service to optimize resident satisfaction and loyalty

o Respond within 24 hours to residents requesting contact

Develop community-specific action plans

o Encourage community teams to complete specific, measureable and actionable plans

o Share best practices from highest performing and most improved communities


Action planning

Community Managers Action Plan Submitters

Regional Managers Action Plan Reviewers

• Online Kingsley Portal Tool • Pulls in Current, Previous, Portfolio

and Index scores for selected KPIs • Above the Portfolio?

• Share best practices • Trailing the Portfolio?

• Outline actionable items to implement within the community.

• Review action plans for all communities within your region

• Approve action plans or send them back for amendments

• Facilitate performance improvement plans

• Maximize value derived from the survey program


Case study: Completing action plans leads to increased resident satisfaction

4.33

4.51

4.21

4.49

3.96

4.16

3.95

4.12

3.00

3.50

4.00

4.50

5.00

Overall Satisfaction Mgmt. -Overall Satisfaction

Leasing Process -Overall Satisfaction

Maint. / Eng. -Overall Satisfaction

Completed Action Plan Did Not Complete Action Plan

2015 CORE Program 41 San Francisco | Atlanta

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gables 2015 kingsley results

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