Top Renter Priorities: Pets, Privacy & Protection

What do residents want? Well, it depends on who you ask. But sometimes, it also depends on who’s doing the asking.

For example, a survey by security firm Deep Sentinel finds that most apartment renters think that management should be doing more to provide a safer environment. And one conducted by J Turner Research and Flex, a rental payments management company, finds that flexible payment schedules could lead the way towards enhancing the resident experience.

Self-serving? Perhaps. Yet the studies were undertaken by reputable research outfits and polled a statistically relevant sample of renters: approximately 1,000 in Deep Sentinel’s “Multifamily Security Concerns in 2024” and 850 in Flex’s “Revolutionizing the Resident Experience in the Digital Age.”

Another meaningful survey, conducted by Point2 Homes, asked 1,500 people why they chose to rent a house rather than an apartment. Some of the responses may be surprising.

Pets, utilities and amenities

According to the “Inside the House Renter’s Mind” Point2 study, the ability to have pets is a major consideration, even more than having space to raise a growing family. And it’s no wonder, considering slightly more than two out of three survey respondents were pet owners.

That’s why almost one in four said a pet policy is crucial in deciding on a place and almost 6 percent believe that pet-friendliness would justify an increase in rent. For 44-to-59-year-olds, this is more justifiable than security upgrades.

Another surprise: Almost half of those responding to the Point2 survey noted that they’d be willing to pay a higher rent if utilities were included in the price. That’s twice as many as would pay a higher rent if a swimming pool came along with the deal.

Ownership perks for renters

With ownership remaining out of reach for many, renting whole houses as opposed to apartments has stepped into the breach and redefined the “starter home.”

According to Census Bureau data, 14.2 million households now rent single-family houses. To help meet the growing demand, build-to-rent completions hit a record 27,500 last year. With 45,400 single-family rentals currently under construction, 2024 is on track to surpass that number.

Consequently, understanding the preferences of single-family home renters is vital, not just for rental house builders and managers but also for apartment developers who must compete with that segment of the market.

The Point2 study found that unlike apartment residents, house renters prioritize features typically associated with home ownership. This means amenities such as privacy, extra space and a yard. But while some are satisfied with their current housing situation, others still aspire to own the roof above their heads.

Just more than half the respondents said the allure of owning rather than renting remains strong. At the same time, though, nearly one in four said they are committed to continue renting. But they are not totally satisfied, either.

When asked how they would customize their rental units, many said they would like an upgraded kitchen. About one in 10 said a better kitchen would be reason enough for a rent increase. Their second and third choices, almost evenly divided, were additional living space and storage space, and improved energy efficiency.

Beyond functionality—and in some cases beyond reality—about a third of the renters polled said they’d love a sunroom or a roof-top deck. Another one in eight said they could go for workshop/crafts area-type space or a greenhouse.

Safety and flexibility remain top of mind

While almost three out of four respondents to the Deep Sentinel study said that apartment properties should be doing more to provide a safer environment, a third said management “should be doing a lot more.” Indeed, three out of five said they don’t feel safe at all, and more than one in four reported that their communities do not provide any type of security.

Nearly 70 percent of respondents said that they are aware of at least one crime occurring on their property, with package theft being the most common. Of course, how current residents perceive safety goes a long way in improving occupancy rates. But this survey found that 15 percent of their occupants would “absolutely not” recommend their properties to safety-conscious friends, while 30 percent “might” advocate for their places.

Meanwhile, the Flex study also highlighted the importance of renter retention, noting that a whopping 85 percent of residents who are allowed to split up their payments over a month’s time have a “heightened” sense of satisfaction with where they live.