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Top 10 Features Renters Want

Discover the top features renters seek in their rental housing based on survey results from The National Multifamily Housing Council and Kingsley Associates.

 

Most Desirable Amenities for Renters

High Speed Internet

94% of renters expressed an interest in high speed internet.  Based on the survey, renters are willing to $35/month for this feature.

 

Parking

94% of renters expressed an interest in provided parking.  Based on the survey, renters are willing to $32/month for this feature.

 

Walk-in Closet

89% of renters expressed an interest in walk-in closets.  Based on the survey, renters expect to pay an additional $49/month in rental costs.

 

Soundproof Walls

88% of renters expressed an interest in soundproof walls. Renters expect to pay $62/month for this additional amenity.

 

Patio or Balcony

87% of renters expressed an interest in a patio or balcony. Renters expect to pay $52/month for this feature. In 2014, 93% of renters wanted a patio or balcony.

 

Washer/Dryer in Unit

87% of renters expressed an interest in an in unit washer/dryer. Renters expect to pay $64 more for rent for housing that includes washer/dryer in unit.

 

Microwave

87% of renters expressed an interest in a microwave. Renters consider a microwave to cost an additional $21 per month.

 

Refrigerator with water/ice dispenser

85% of renters expressed an interest in a Refrigerator with water/ice dispenser. Renters expect to pay an additional $31/month for this feature.

 

Garbage Disposal

83% of renters expressed an interest in a garbage disposal. Renters are willing to pay an additional $17/month for this feature.

 

Pool

83% of renters expressed an interest in renting a home with a pool. Renters expect to pay an additional $46/month for a pool.

 
 
Property managers can use this information to evaluate a potential investment property to determine what kind rental income it would generate. Alternatively, a landlord may think twice before purchasing a new refridgerator that includes a water/ice dispensor if it will only generate an additional $31/month.
 
What features have you found to be the most important to your renters? Let me know the comments!
 

About the Survey

The National Multifamily Housing Council and Kingsley Associates partnered to survey over 500,000 residents across the US regarding their apartment rental experience. As a follow up to the inaugural survey initiated in 2013, the 2015 NMHC / Kingsley Renter Preferences Study shines light upon nearly 120,000 apartment residents' perspectives on preferred neighborhood destinations, methods used in the apartment search process, and interest in and pricing expectations for 69 apartment features and community amenities.

 

 

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