According to the 2024 NMHC/Grace Hill Renter Preference Survey Report on apartment features and amenities, today’s renters have a clear preference for the following 10 features.
A property owner, developer, or manager must understand the preferences of prospective renters.
You must understand more than what tenants want or would like, but also identify the non-negotiable elements that are essential to modern living and everyday pleasure. Maintaining consistent and reliable occupancy ensures a happier community by recognizing the dealmakers (and dealbreakers).
Incorporating desirable differentiators into your marketing narrative can make your property stand out to current and potential renters. When considering which home to rent, renters shared both aspirational and practical aspects when responding to NMHC and Grace Hill’s 2024 Renter Preferences Survey Report. The report provides an insightful snapshot into the needs and desires of renters across 77 markets and 4220 communities based on 172,703 responses.
Among the rental respondents surveyed, privacy, convenience, and lifestyle were the most important attributes. Their goal is to find homes and communities that will serve as retreats for themselves, their friends, and their families.
Renters’ top 10 must-have features for renting
Here are a few factors that can make or break a deal:
- Air conditioning (93 percent)
- Washer/dryer in unit (93 percent)
- High-speed Internet access (90 percent)
- Soundproof walls (88 percent)
- Walk-in closets (87 percent)
- Garbage disposal (87 percent)
- Dishwasher (87 percent)
- Noise-reducing window panes (83 percent)
- Pre-installed window shades/blinds (83 percent)
- Refrigerators with water/ice dispensers (81 percent)
Previously considered luxuries, air conditioning and in-unit washers/dryers are now essential amenities.
According to the survey, 93 percent of renters indicated they were interested in these features or wouldn’t rent without them.
High-speed internet access is also an essential for renters (90 percent), whether for remote work, streaming music, or gaming. Soundproof walls (88 percent) and noise-reducing windowpanes (83 percent) provide renters with the privacy they need to work or enjoy an evening.
The majority of renters (87 percent) and owners of rental homes (83 percent) believe that walk-in closets provide storage space and ease of relocation. Similarly, washers and dryers in the unit (81%), refrigerators with water dispensers (81%), and garbage disposals (87%) once considered desirable extras, now are essential kitchen necessities.
Ranked Top 10 Amenities
Check out the amenities renter respondents said they would not rent without.
- Reliable cell reception (86 percent)
- Secure self-service 24/7 package access (76 percent)
- Covered parking (76 percent)
- Swimming pool (76 percent)
- Controlled property/amenity access (75 percent)
- Dedicated visitor/guest parking (73 percent)
- Fitness centers (73 percent)
- Controlled-access parking (72 percent)
- Non-smoking buildings (71 percent)
- On-site back-up power supply (68 percent)
The renter expects seamless use of their mobile device at all times, whether it’s for answering emails, providing GPS navigation, or conferencing. For work-from-home professionals, family communication, and personal safety, this level of connectivity isn’t just convenient. This is why renters of all kinds won’t live without reliable cell reception, according to the survey. 68 percent of respondents mentioned onsite backup power supplies as an important amenity that ensures online access isn’t interrupted by a power outage.
The convenience of receiving packages and deliveries is a key consideration for 76 percent of renters, regardless of whether they order essentials through Amazon or order dinner from a local restaurant.
As a result of on-the-go lifestyles, 76 percent of respondents prefer covered and controlled access (75 percent) parking options. 73 percent of renters surveyed also prioritize ensuring that guests have a dedicated parking space when they arrive.
The amenities in their community can support active lifestyles for many renters. 76 percent of renters surveyed wanted a swimming pool, 73 percent requested fitness centers, and 71 percent requested non-smoking buildings.
A better understanding of the lifestyles and needs of tenants offers property investors, developers, and management companies the opportunity to create marketing strategies tailored to potential tenants in their properties, differentiate services, and plan ahead. You can keep homes full and residents happy by knowing the difference between nice-to-have features and amenities and must-have ones.
It is good for all of us to build more thoughtful, purpose-driven, and responsive communities.
