Key Highlights
- Millionacres surveyed 1,500 renters and some 140 landlords to learn what renters want from landlords and what landlords think renters want
- In many areas, renters and landlords on same page
- In other areas, there are many discrepancies
If you and/or your clients are either already landlords or are considering becoming landlords, it’s important to know what tenants prioritize and what they don’t. Here are findings from a recent survey done by Millionacres, the real estate investment market segment of The Motley Fool, that may help you and/or your clients know what features tenants prioritize and what features tenants may be willing to pay more for.
Are you ready to join EXP REALTY? Choose Tim and Julie Harris as your sponsor! Text Tim directly 512-758-0206.
Here are some key findings of this Millionacres tenant-landlord study:
- Where Landlords and Tenants on the Same Page
- Convenient location
- Modern building
- Nice neighborhood
- Modern appliances
- Large size unit
- Utilities included
- Safety and security features
- Reserved parking or parking lot for residence
- Accessibility features such as elevators and ramps
- On-site pool and/or gym
- Central HVAC
- Where Tenants and Landlords Not on Same Page
- Renters willing to pay more than landlords thought for convenient payment options, guest parking and flexible lease terms
- Renters not willing to pay as much as landlords thought they would for pet-friendliness and high-quality nearby schools
- Nearly 50% of tenants believe that specific features more important than affordability
- Tenants would like and pay more to have guest parking for their friends and family members when they come to stay and/or visit
For landlords/potential landlords, it’s important to know that tenants value convenience and flexibility…and they’ll pay more for that convenience and flexibility.
Get your free 2021 Fill In The Blank Business Plan Now. Simply TEXT 2021 to 855-685-1045.
It’s also important to remember that the renter population skews in favor of people who do not have children, as families are more likely to buy than rent. Similarly, 82% of landlords thought renters would pay more for a pet-friendly property and proximity to high-quality schools while just 65% of renters said they would pay more for pet-friendliness and for closeness to a high-quality school.
Thanks to Millionacres, a division of The Motley Fool.
URGENT: 2021 Results Released. New FREE On-Line Web Event Reveals 17 Surprising Secrets Of The Top 100 Millionaire Agents. Get Your FREE Spot For The On-Line Webinar Now. When You Attend This Event You Will Have A Sense Of Relief Knowing You Can FINALLY Laugh At Your Money Worries – If You Follow This Simple Plan. Learn How To Generate 100’s of Motivated Leads Without Coming Off As A Pushy Salesperson and Losing Your Soul. Learn Now How To Become One of the 1000s of Agents Making HUGE Money NOW Who Never Thought They Could.
