Residents by the numbers: what they want and really care about

Last modified on December 1st, 2022
By Rae Parker

Today’s residents value an elevated living experience more than ever. Our 2022 US Resident Motivations report found that while 70% of survey respondents were satisfied with their property management company; just 24% say that they’re likely to recommend their property management company.

We’ve pulled together some resident stats to help you get a better understanding of what they’re looking for and how providing a positive experience can lead to greater retention and satisfaction.

Marketing & Leasing:

26% of renters said they would prefer a self-guided tour during their next rental search

73% of renters said they would not rent a home without physically visiting the property in person And after touring the property, 37% of renters said that it took them two weeks or less to sign a lease for their new home NMHC 2022

Findings: It’s clear that residents value technology when searching for their next home. Consider using AppFolio marketing tools like Professional Websitesself-guided tours, or Lisa, the AI ​​Leasing Assistant to maintain a healthy leasing pipeline and a frictionless experience for residents and prospects.

Accounting & Reporting:

In 2021, 52% of renters typically paid their rent online, compared to 36% in 2018 Zillow 64% of Gen Z (18-26) 51% of Millennials (27-41) 41% of Generation X (42-56) 38% of Boomers/Silent Gen (57+)

  • 76% of renters would prefer to pay their rent electronically via debit/credit card, ACH transfer, or app-based methods
    2022 NMHC/Grace Hill Interest Rate Preferences Survey Report; percentage includes debit/credit card payments (26%/22%), ACH bank transfers (20%), and app-based payment methods such as PayPal, Apple Pay, and Venmo (8%).

Findings: A new generation of tech-savvy consumers expect their property management technology to keep up with them, including convenient and easy ways to pay rent online. Consider using AppFolio Online Payments to allow renters to pay their rent through their online tenant portal — from anywhere, on any device.

Maintenance & Efficiency:

Around ⅓ of all renters in the US say faster resolution of maintenance requests and proactive communication have become more important during the pandemic

Findings: Managing maintenance is demanding and time-consuming. Using automation tools like Smart Maintenance can streamline your processes, handle any requests that come in no matter the time of day or night, and provide instant visibility into your maintenance workflow.

Communication & Service:

62% of young renters say that apartment technology is extremely important to them when searching for a new home

When it comes to online reviews, 58% of prospects prefer a response within 72 hours that offers a solution

Findings: Being responsive, accountable, and connected — from virtually anywhere — is what matters most to residents. Provide a stand-out using experience mobile communication tools. Our online portal empowers residents with a one-stop-shop for the information and tools they need in an instant. With all of your communications stored in one system, you can easily and quickly contact residents from within AppFolio.

Resident lifestyle

27% of renters say that the biggest benefit of renting is because of the lifestyle amenities offered

80% of renters would prefer to have package lockers for their belongings, versus a package room

Findings: Amenities add a touch of luxury for your residents and can boost your property’s value. From smart-home technology to community spaces, residents delight in amenities that provide peace of mind. However, finding the right integration and partners that work with your property management software can be a challenge. AppFolio Stack™ gives you the power to customize your key workflows, all within our easy-to-use platform. Our partners include the top proptech solutions in the market, giving your business a competitive edge while enhancing productivity and improving the resident experience.

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