The next generation of renters is equipped with more access to information than ever before. Recent survey data published by ForRent.com, sister site of Homes.com, sheds light on what renters are looking for and the methods they’re using to find it. With more than 8,000 responses, the month-long survey revealed convenience and cost-efficiency are most important to apartment dwellers.
“Today’s renters are well informed and looking for the best amenities,” said Brock MacLean, executive vice president of Homes.com. “They know what they want and how to find it. If one apartment community does not offer the right features, they will use online resources to find one that does.”
Online reviews and social networking make it simple to find information on prospective apartment properties and allow people to quickly ask online friends if they have positive or negative experiences with rental establishments.
Before signing on the dotted line, renters check out an apartment’s reputation to help make a final decision regarding a lease:
- Ratings are number one, with 75 percent of renters basing a decision on reviews
- 48% of those on the apartment hunt also use “word of mouth” to help make a decision
- Videos are important to renters with 90% of renters saying they watch a video as part of the apartment search.
Photos and Virtual Tours
Visuals are a key component. While on the quest for their next apartment, renters want to easily view photos and take virtual tours, bringing the apartment search to life:
- 91% of renters use an Internet listing service, such as Homes.com and ForRent.com
- Print is very relevant, as 25% of renters also use print sources such as apartment listing magazines
- 28% percent of searchers look on mobile sites or apps
Features and Amenities
When it comes to features and amenities in apartment units and communities, renters want quick and easy methods of communication and convenient amenities.
- Email is the preferred communication route in general for 62% of renters
- Email is also the preferred method for follow-up communications, says 82% of renters
- Only 23% of renters prefer mobile communications with their apartment management or property owner.
Convenience and Cost-Efficiency
Convenience and cost-efficiency trump other preferences by the next generation’s renters.
- All-inclusive utilities ranked number one in preferred amenities, followed preferences are in-unit laundry features, stainless steel appliances and walk-in closets.
- As renters look to the future, 54% would like a recycling center; 52% prefer a poolside kitchen and 38% are interested in a community with a theater room.
- 83% percent want wireless Internet
- 73% want to pay rent online
- 43% would partake in community-sponsored group exercise.
From affordable houses to luxurious estates, apartments, condos and more, Homes.com features more than four million property listings for sale and rent in a user-friendly format. Homes.com apartment listings are powered through an exclusive partnership with www.ForRent.com.
For Rent Media Solutions was founded in 1982 as For Rent Magazine and is headquartered in Norfolk, Virginia. They provide property managers and owners with diverse marketing and advertising. www.ForRent.com.
Reprinted with permission of the Arizona Multi-Housing Association.