TY - JOUR
T1 - Customer satisfaction with apartment housing offered by Real Estate Investment Trusts (REITs)
AU - James, Russell
PY - 2009/9
Y1 - 2009/9
N2 - The explosive growth of Real Estate Investment Trusts (REITs) is changing the ownership structure of rental housing in the US and across the world. This paper reports the impact of REIT ownership on renter satisfaction by analysing nearly one-half million ratings posted on the largest US consumer comment website for apartments. Descriptive statistics and ordered logit analyses (both with and without zip code fixed effects) indicated that REITs following an aggressive branding strategy had positive effects on residential satisfaction, while non-branding REITs had negative effects. This dichotomous outcome is consistent with an asymmetric-information model of consumer choice in apartment rentals.
AB - The explosive growth of Real Estate Investment Trusts (REITs) is changing the ownership structure of rental housing in the US and across the world. This paper reports the impact of REIT ownership on renter satisfaction by analysing nearly one-half million ratings posted on the largest US consumer comment website for apartments. Descriptive statistics and ordered logit analyses (both with and without zip code fixed effects) indicated that REITs following an aggressive branding strategy had positive effects on residential satisfaction, while non-branding REITs had negative effects. This dichotomous outcome is consistent with an asymmetric-information model of consumer choice in apartment rentals.
KW - Consumer rating website
KW - Housing
KW - REITs
KW - Residential satisfaction
UR - http://www.scopus.com/inward/record.url?scp=85011330695&partnerID=8YFLogxK
U2 - 10.1111/j.1470-6431.2009.00800.x
DO - 10.1111/j.1470-6431.2009.00800.x
M3 - Article
AN - SCOPUS:85011330695
VL - 33
SP - 572
EP - 580
JO - International Journal of Consumer Studies
JF - International Journal of Consumer Studies
SN - 1470-6423
IS - 5
ER -