Guest Blog: Appealing to Today’s Renter: 4 Ways to Improve Resident Satisfaction
While the home ownership dream is still alive and kicking, people who actually pursue it are fewer and less determined to act on it right away.
By Amalia Otet, Copywriter, RENTCafe Apartments
While the home ownership dream is still alive and kicking, people who actually pursue it are fewer and less determined to act on it right away. In fact, according to Census data, the nation’s homeownership rate is on a steady decline, falling to 63.7 percent in Q1 2015, the lowest since the mid-‘90s.
If there was a time when landlords couldn’t give apartments away because everybody was so keen on buying, things are a lot different today. More and more people choose to rent because of the flexibility that this way of life entails and enjoy living without having to worry about property taxes or home maintenance chores. The high demand for apartment living combined with other factors—including demographic and job growth, and limited inventory levels—have pushed up rents all across the country, with U.S. average rents hitting a record high of $1,136 in May.