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  • Writer's pictureDan Thomas

8 Critical Takeaways from the 2022 Rental Preferences Survey

For folks that aren’t familiar with Real Estate Syndications, it involves multiple investors pooling their capital together to purchase no-hassle, hands-off investment properties that deliver passive income and appreciation to the investor.


Because the success of a value-add real estate syndication is largely driven by the sponsor's ability to increase the rental rates, it is important to understand what renters value when deciding on an apartment. With that in mind, let’s review the critical takeaways from the 2022 Renter Preferences Survey Report, which gathered input from over 221,000 renters, living in 4,564 communities nationwide across 79 markets:


Takeaway #1 - The Future is Remote


  • 64% of renters expect to be working remotely about the same next year as they are this year

  • Because of this 35% indicated an interest in their apartment community offering shared workspace


Takeaway #2 - The Future is Smart


  • 70% of renters said they were interested in or would not rent an apartment without a smart thermostat

  • 67% of respondents also indicated interest in leak detection systems and water-saving features


Takeaway #3 - The Future is Organized


  • 72% of renters want modular closet and drawer systems

  • This represents a 36% interest since 2020


Takeaway #4 - The Future is Connected


  • 86% of renters indicated that reliable cell phone service is a must have

  • 90% of respondents said they would not rent an apartment with poor internet connectivity


Takeaway #5 - The Future is Pet-Friendly


  • 33% of respondents indicated they lived with a pet or service animal

  • 70% of pet owners surveyed are dog owners which drove interest in dog parks, pet washing stations, doggy daycare and grooming


Takeaway #6 - The Future is Active


  • 70% of renters are either interested in or won’t rent without a community fitness center

  • 29% of respondents that do not use a community fitness center cited lack of or outdated equipment as the reason why


Takeaway #7 - The Future is Healthy


  • 71% of respondents reported interest in enhanced indoor air quality

  • 90% of respondents indicated that they would not rent an apartment that lacked air conditioning or an in-unit washer/dryer


Takeaway #8 - The Future is Outdoors


  • 73% of renters indicated interest in a community pool

  • Unsurprisingly, renters in large cities a cited interest in outdoor amenities like BBQ areas and rooftop space


Conclusion


These 8 critical takeaways from the 2022 Renter Preferences Survey Report, help paint a solid picture of what renters want going forward. When analyzing the value-add business plan of a property, it is important to understand if the sponsor has included the amenities that renters value. This along with the local market, is one of the keys to selecting a great real estate syndication investment.


Our team here at Limitless Investing independently reviews every syndication opportunity through this and many other lenses prior to sharing with our investors to ensure they are only receiving high-quality, pre-vetted opportunities.


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