Just 18% of landlords think renters value specific features more than affordable rent, while nearly half of renters say that getting the features they want is a higher priority than paying less.
Key takeaways for landlords
If you're a landlord, it pays to know what renters want. Specifically, renters value convenience and flexibility and also want their homes to be easy for their guests to visit.
More renters are willing to pay up to get these things than you might think, and while guest parking might come with a significant price tag, adding convenience and flexibility come with minimal added costs to the landlord, so they may be worth considering when trying to add value to your rental portfolio.
Millionacres distributed this survey via Pollfish to 1,500 American renters ages 18 and over on December 3, 2020. Data from 136 landlords was collected via SurveyMonkey between December 3 and December 9, 2020. The landlord survey was distributed via Paydirt, the Millionacres newsletter.
Renter respondents were 53% female and 47% male. Age breakdown was approximately 15% 18–24, 31% 25–34, 32% 35–44, 11% 45–54, and 11% over 54. Geographic breakdown was approximately 36% South, 23% Midwest, 19% Northeast, and 23% West, as delineated by Census Regions.
Landlord demographic data was not collected.
Some figures may not total to 100% due to rounding.