Here's what renters want more of in 2020
Multifamily housing has seen a lot of change and adaptation this decade.
The 2020 Apartment Resident Preferences Report released by the National Multifamily Housing Council and Kingsley Associates collected input from renters all across the U.S.
The report found many differences in the way we live now. From smart home technology to pet amenities and co-living spaces, here’s what renters want to see more of.
“While emerging technologies have allowed communities to offer virtual tours and other opportunities for online engagement, we found that the majority of renters still prefer an in-person tour with a community representative,” said Rick Haughey, NMHC’s vice president of industry technology initiatives. “That said, 14% of renters noted they would rent an apartment sight unseen.”
Younger renters expressed an interest in short-term rentals, according to the report. Across the U.S., nearly 60% of those surveyed said having short-term rentals would either positively impact their perception of a community or have no effect at all.
Only 16% said they wouldn’t rent at a community that allowed short-term rentals.
Even though 42% of those surveyed said they telecommuted at least part-time, 15% said they had or would use a coworking space, while over half said they were interested in an on-site business center.
Co-living made an entrance in 2019, but nearly 70% said they would not be interested in this type of living situation.
Of course, technology made the most significant impact on the way renters live. Even though over a third of respondents said they already own devices like Amazon Alexa or Google Home, 43% said they were interested or would not rent without a virtual assistant.
Notably, in 2020, multifamily housing professionals will need to look beyond their human clientele. According to the survey, not only were renters enticed to rent from a place with pet amenities, they’d be willing to shell out extra money as well.
According to the report, more than a third of respondents were pet owners, most of them owning dogs. Dog owners said they would pay $28 to $34 more per feature per month for perks such as a community dog park among other pet services on site.
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