A survey of active renters shows the top three criteria potential tenants use to evaluate a property are the price, the location and the community environment, according to a recent study.
The survey by Village Green, called the National Renters Index, involved 1,000 respondents in seven markets across the country.
In looking for properties, 59 percent of renters said in the survey they research online before visiting a potential rental property and 65 percent used nationally-known renting websites, such as apartments.com.
Community environment is important to renters who say they want a “homey” look and feel in their apartment community with a high-end feel. The cities included in the survey were Phoenix, Atlanta, Chicago, Dallas, Detroit, Philadelphia and Minneapolis.
The top 3 criteria potential tenants use to evaluate a property
- Rent price – 85%
- Location – 81%
- Community environment – 49%
“The National Renters Index serves as a call to us all that we need to be listening to our current and prospective renters around the amenities and experiences sought from their next rental experience,” Diane Batayeh, CEO of Village Green said in the release.
“Renters should carry the believ that they are getting a special experience filled with amenities and the feel of home,” she said.
The top 4 amenities renters are seeking
- Homey look and feel – 62%
- Fits my lifestyle – 60%
- Ability to issue a maintenance request online – 52%
- High-end property amenities – 52%
How generations differ in what they want
Online, millennials care most about high quality photos, 69%. GenX and Baby Boomers are looking for clear and thorough information about amenities.
In terms of amenities, millennials are willing to pay more for high-end property amenities, 48% of them, compared to only 25% of Baby Boomers who are willing to pay for the high-end property amenities.
The high-end amenities they are willing to pay more for were smart-time technologies, 45%, and door service and/or a coffee bar, 49%.
The Phoenix renter profile
Community environment is especially important to renters in Phoenix, according to the survey. It has the highest percent of renters who are interested in a community with a “homey” or high-end feel. Facilities are also especially important to Phoenix residents.
About the Index
The first Village Green National Renters Index was conducted online, surveying 1,000 paneled respondents in the seven markets across the country. The survey was conducted using SurveyMonkey and ResearchNow online polls in February and March 2017. Respondents were required to be active renters in a residential community.
About Village Green
Village Green is an award-winning, Detroit-based property management company serving more than 30 cities throughout the U.S. Village Green’s hospitality-based business model is focused on delivering exceptional living through passionate service. The company operated 40,000 units valued in excess of $6.5 billion.