Key Findings from Parcel Pending’s 2024 Resident Preferences Report

Operating budgets for multifamily properties are being squeezed by rising costs and historically high interest rates. To help you plan for 2025 more effectively, our 2024 Resident Preferences Report highlights what residents value most today.

Residents’ Most Valued Amenities Are Their Most-Used Amenities

For the second year running, smart lockers have ranked as a top amenity among residents, with a significant percentage (69%) emphasizing the importance of parcel security. Notably, lockers are a universal amenity, with almost 90% of residents taking advantage of them weekly and 73% receiving 1-3 weekly deliveries.

Residents Demand Amenities that Ensure Safety & Security

Resident satisfaction has reached impressive levels, according to the survey results. In the National Multifamily Housing Council (NMHC) and Grace Hill 2024 Renter Preferences Survey, an overwhelming 85% of participants either agreed or strongly agreed with the statement, “I enjoy living in my community.”¹ This positive sentiment is further reflected in residents’ Net Promoter Score, which saw a significant five-point increase in the 2024 National Business Research Institute survey of apartment residents, indicating a growing willingness among residents to recommend their community to friends and family.

The survey identified four key factors driving this high level of satisfaction:

1. Top-Notch Amenities: Residents value facilities such as secure parking and package management, gyms, pools, and common areas, which contribute significantly to their quality of life.
2. Strategic Location: Community members appreciate easy access to essential services, including shops, schools, and transportation hubs.
3. Enhanced Security Measures: Features like gated entrances and smart parcel lockers have fostered a strong sense of safety and security among residents and can directly impact resident attraction and retention.
4. Responsive Management: Efficient and professional property management and maintenance services have played a crucial role in resident satisfaction.

These findings highlight the critical role of comprehensive community planning that addresses physical amenities, safety, security, and service in creating highly satisfying living environments. The importance of secure package management in this equation cannot be overstated. An overwhelming majority (80%) of residents surveyed this year agreed with the statement, “Knowing my package is secure until I am home and able to retrieve it is important to me.”

Lockers Are Residents’ Preferred Package Receiving Method

Smart lockers have emerged as a game-changing feature in multifamily communities. They drive resident attraction, referrals, retention, and satisfaction. A striking 78% of residents prefer package lockers as their primary retrieval method and use them regularly, outstripping unscheduled door delivery, package room retrieval, leasing office pick up, or scheduled delivery.

Off-site delivery services are also underwhelming to residents. There’s been a staggering 159% increase in residents reporting a poor experience with off-site delivery.

In essence, smart lockers have transitioned from a luxury to a necessity in modern multifamily living. By offering this highly valued and frequently used amenity, you attract more prospects, boost the resident experience, increase renewal rates, foster word-of-mouth referrals, and create a healthy and happy community.

Get the full breakdown of these and other important resident preferences in our free 2024 Resident Preferences Report. Download the report here:

Sources:

1. National Multifamily Housing Council, Grace Hill. 2024 NMHC and Grace Hill Renter Preferences Survey Report. www.nmhc.org. November 7, 2023. https://www.nmhc.org/research-insight/research-report/nmhc-grace-hill-renter-preferences-survey-report/