Search
 

Renters Pay Up, But Want Amenities

CARROLLTON, TX—"For all the noise about affordability, there isn't yet any real evidence that market-rate apartment renters are unable or unwilling to renew their leases," says Jay Parsons at MPF Research.

By Paul Bubny | Updated on November 19, 2015

CARROLLTON, TX—Their rents may be increasing at the fastest pace in almost a decade, yet US apartment renters continue to prefer to renew their leases rather than move elsewhere. “For all the noise about affordability, there isn’t yet any real evidence that market-rate apartment renters are unable or unwilling to renew their leases,” says Jay Parsons, director of analytics for Carrollton, TX-based MPF Research.

That being the case, a new study from the National Multifamily Housing Council finds that renters bring heightened expectations to the table when they sign those leases. “There have been 1.6 million new renter households created in the past five years,” says Rick Haughey, VP of industry technology initiatives with NMHC in Washington, DC. “Many of these new residents are making a lifestyle choice to rent instead of buy and are thus looking for personalized services and amenities. The apartment industry is stepping up to provide those experiences.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.