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Few renters relying on social media for apartment search

December 9, 2010 - A new survey shows that despite the wide use of social media sites worldwide, few tenants are using these sources to find their next apartment when moving.

Apartments.com surveyed tenants looking for their next apartment and found that even though 71 percent considered themselves to be active users of social media networks, only about 25 percent actually used those sites to find an apartment. Even so, 70 percent said they would consider using social media for their apartment needs, but they would be more likely to use it to find recommendations from other tenants or to search for videos and photos of their next rental, as opposed to actually searching through listings.

"Our survey tells us that residents want to connect with their apartment community through social media to receive special offers, gain access to other residents and to keep current on community news and events," said Chris Brown, vice president of product management at Apartments.com.

Interestingly, the report also shed light on which types of consumers are packing their moving boxes and choosing to live in apartments. Forty percent of respondents actually said they did not currently live in an apartment community, but were looking to join one.

That could be because some homeowners today are shopping for apartments or rental homes instead of regular single-family properties. High rates of foreclosure, low employment and tough mortgage restrictions have encouraged more homebuyers to become renters instead.
 

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