Sizing Up Today’s Tenants

Print Friendly

When it comes to the biggest influence in selecting their next apartment home, renters are swayed most by cost (63 percent) when their lease is expiring. This finding is one of the insights from research released by Apartment Finder that explores how apartment hunters shop and what entices them to sign the lease.

The national only survey of over 5,000 apartment seekers across the U.S. also reveals that online peer ratings and reviews matter: 96% of respondents said that online reviews influence their decision when choosing an apartment.

But the final decision rests on the bottom line. Price and budget largely drive renters’ final apartment choices. Location came in a distant second at 24%, followed by neighborhood crime statistics (7.3 percent), school system (3 percent), and community amenities (2.6 percent).

Renters Are On The Move

The top 3 reasons that apartment shoppers are looking for a new home are: their current lease is expiring (42 percent); job relocation/new job (22 percent); and moving out of parents’ home (18 percent).

Apartment shoppers increasingly prefer to search on the move: While using their personal computer is still the leading method for searching for their next apartment home, nearly half (49 percent) of apartment hunters prefer to use their mobile device.

Mobile users not only browse, but take action: With calling (45 percent) and emailing (42 percent) ranking as the top two ways to contact an apartment community to learn more, a mobile device makes it easy and convenient to do so. In fact, nearly half (49 percent) of respondents used their mobile device to call the apartment community directly from the listing.

Apartment Finder offers a suite of marketing tools that include a recently enhanced, mobile-enabled website, ApartmentFinder.com; free integrated iPhone, Android and Tizen applications; a widget offering access to renter peer reviews on its apartment listings; and much more. These digital options help connect advertisers with apartment seekers with greater speed and convenience than ever before. Apartment Finder is recognized as the leading apartment rental resource among consumers and the industry.

American Apartment Owners Association offers discounts on products and services for all your property management needs. Find out more at www.joinaaoa.org.