Property ManagementStudy Reveals What Renters Want: A Must-Read for Landlords by Sylvia Shalhout January 21, 2021January 21, 2021 by Sylvia Shalhout January 21, 2021January 21, 2021As a landlord, you must often wonder “What do renters want in an apartment?” In fact, this is a question you need to be asking as you search for a profitable rental property for sale and as you set up your management plan.And while you may think you have a good grasp on what renters want in a rental property and what they’d be willing to pay more for, a new study reveals that landlords and tenants are not always on the same page. Millionacres, a real estate investing service by The Motley Fool, set out to answer the question of what renters want as well as determine if landlords really do know what is most important to renters. 1,500 renters and 136 landlords from across the US rental market participated in the survey and here’s what Millionacres uncovered:What Renters Want – Landlords Were Right About a Few ThingsLandlords were asked about the following features and property amenities and if they thought renters would be willing to pay higher rents for each of them:A convenient location and nice neighborhoodA pool or gym on the premises of the rental propertyA larger rental propertyParkingModern building and appliancesAir conditioningUtilities includedSafety and accessibility featuresAs it turns out, their answers mostly matched those of the tenants surveyed.Related: 6 Neighborhood Amenities for a Successful Residential Investment PropertyBut Here’s What Landlords Didn’t Know About Renters’ DesiresThis is the must-read part – there were a few things that landlords assumed renters didn’t value or would pay more for when, in reality, renters felt differently.The renters surveyed said the following was important to them:Convenience and flexibility when it comes to rent payment optionsParking for their guestsFlexibility when it comes to lease agreementsThe renters surveyed revealed that the following was not as important to them as the landlords thought:A pet-friendly rental propertyClose proximity to good schoolsThe study also revealed something interesting: tenants would rather pay more for the amenities and features they desire. Meaning, they would sacrifice affordability as long as the rental property offered certain desirable amenities.The Bottom LineWhat do renters look for? As it turns out, you may not always be on the same page as your tenants. Owning a rental property and successfully earning an income from it relies on knowing your tenants and what they want. Keeping up with current trends and tenants’ needs and wants will go a long way in helping you with rental property management and finding the right tenants for you.Know what tenants want but still need to find that perfect rental property for them? Find it in 15 minutes with Mashvisor. Start Your Investment Property Search! START FREE TRIAL LandlordTenants 0FacebookTwitterGoogle +PinterestLinkedin Sylvia ShalhoutSylvia is the Content Marketing Manager at Mashvisor. As a real estate writer, she has been covering topics for the beginner and advanced real estate investor, helping them make smarter decisions as well as real estate agents looking to take their business to the next level. Previous Post 10 Best Cities for House Hacking in 2021 Next Post Where to Find Cap Rate Data for Residential Real Estate Related Posts Which Apartment Amenities Should Investors Spend Money On? All You Need to Know About Owning and Managing Residential Real Estate Properties 6 Mistakes Investors Make When Selecting a Property Manager Is Multi Family Real Estate Management Compatible With Part-Time Real Estate Investing? How Much Does It Cost to Evict Someone? Professional Property Management Is Not Always a Bad Idea Despite Its Costs How to Generate Passive Income from Multifamily Real Estate Investing How to Manage Multiple Investment Properties on Your Own The Ultimate Guide to Becoming a Landlord of Multi-Family Real Estate Staging for Rent: Is It Necessary to Get Tenants? Are You Ready for Owning and Managing Multiple Investment Properties? How to Create the Perfect Tenant Application Form