Apartment landlords take note: Renters are willing to make sacrifices when searching for a new apartment. But even though they are willing to compromise on some features, there are certain items that renters do consider must-haves.
Apartment Guide recently surveyed consumers looking for new apartments. According to the survey results, 74 percent of renters either agreed or srongly agreed that they had to make sacrifices if they wanted to find an apartment in their budget.
Apartment Guide found that renters are least likely to compromise on housing type, price and location, but are willing to cut other amenities to help them find a unit that they can afford.
The survey is a good blueprint for landlords and building owners looking to attract tenants. It gives owners a good idea, for example, of What renters are most willing to sacrifice. The Apartment Guide survey found that 21 percent of them were willing to give up on amenities. That was higher than the 12 percent of renters who were willing to compromise on housing type and the 14 percent who said they would compromise on location.
Some amenities that renters might have to sacrifie when looking for a new home are hardwood floors, gated community access and rooftop terraces.
Apartment Guide reported that 54 percent of those surveyed said they agreed or strongly agreed that the location of a property is more important than the unit itself. This gives landlords or owners who have apartments in key urban areas an advantage: Renters, it seems, are willing to pass on some amenities if they can find an apartment unit in a desirable location. Today, more renters are seeking units in the urban centers of cities.
How an apartment building looks matters, too. According to the survey, 48 percent of renters said that they agreed or strongly agreed that aesthetics are more important than features such as updated appliances.
