In August 2024, Entrata surveyed 3,000 renters across the United States to better understand their experience. From that survey we created the 2024 Resident Report, which provides valuable insights into the renter's journey and highlights areas where property managers can improve their processes and offerings. The following are the key insights we gleaned from the survey

Affordability is King:

• The rising cost of rent is a major concern for renters. Properties need to be mindful of pricing and offer competitive rates to attract and retain residents.

Location Matters, Community Doesn't:

• Renters prioritize location over community when choosing an apartment. Properties should focus on highlighting their proximity to amenities, transportation, and desirable neighborhoods.

Size and Safety are Crucial:

• Apartment size and safety are top considerations for residents. Properties need to provide clear information about floor plans and what safeguards they have in place to create a safe and secure environment for residents.

Maintenance is Key to Retention:

• While not a top priority during the initial search for an apartment, maintenance plays a critical role in lease renewals. Responsive and efficient maintenance services are essential for resident satisfaction and should be a top priority for properties.

Technology Simplifies the Process:

• Renters prefer online applications and digital communication, but still value some in-person interaction. Properties should adopt technology to streamline the application process while maintaining a human touch.

Transparency is Key:

• Clear communication and transparency are crucial throughout the rental process, from accurate listings to clear screening procedures. Make sure you are providing explanations as to why a renter is denied during the screening process.

Opportunities for Improvement:

• Properties can enhance the resident experience by offering more digital tools, like move-in checklists and online payment options with autopay features.
• Focus on providing accurate information, responsive communication, and a seamless application process to attract and retain residents in an increasingly competitive market.

Learn more

To download the entire Resident Report click here.