What Renters Want Most
Flexible space, connectivity, and pets are key considerations during the search for a new home.
A group of multifamily experts recently took a comprehensive look at what features matter most for prospective renters when searching for a new home. Survey from renters across the country to determine the most recent trends and preferences on housing priorities.
From the survey, based on consumers’ most recent search, 57% wanted a traditional apartment, 23% wanted a townhouse, and 19% wanted a single-family rental.
Research shows that if people move, the two reasons are price and more space. In the age of live-work-play at home, renters are looking for flexibility. Nearly two-thirds said flex space was either important or extremely important in their search.
When considering smart-home technology, renters’ interest is tied to its ability to add convenience or to drive savings. Survey results found that the most popular smart feature is the thermostat; 70% said they are interested or wouldn’t rent without it.
When it comes to connectivity, 86% said reliable cell service was the most important thing they considered when making their decision to rent. In addition, 90% said they wouldn’t rent if cell service and Wi-Fi connections weren’t reliable. Greater reliance on connectivity, and that will only increase. This is a priority area for operators.
Another big change brought on by the pandemic concerns are packages and deliveries. The frequency of online shopping and perishable grocery deliveries has skyrocketed, warranting a change in package pickup preferences. Self-service pickup solutions such as package lockers or a package room are the preferred options.
Living with a pet is an important renter preference, as one-third of all renters indicated they have a pet. According to Apartments.com, it receives twice as many searches for dog-friendly spaces than for cats. Having pet-friendly outdoor spaces is crucial, but it’s also important to provide some type of outdoor space for all residents. With fitness centers, 70% said they wouldn’t rent without one, although only about 40% actually use them. Bike storage and kitchens are also important.