While half of current renters are planning to stay put for the foreseeable future, about one-third of renters are thinking about moving in the next 12 months. Those who plan to renew their lease tend to report being happy with their current location and unit, are dissuaded by the expense of moving, and believe their rent might be more expensive elsewhere, according to a renter preferences report from real estate technology firm AppFolio.

Those who plan to move are primarily looking for a better apartment or house, lower rent, a better community, or a change in their roommate situation, the survey found.

In a competitive rental market that is expecting a million new units to hit the market by the end of 2025, property managers who innovate and embrace technology may have an edge over renters, said AppFolio. Nearly a third of renters search for new rentals on the property or property manager's website, which ranked in the top three resources prospective tenants use along with internet listing services Zillow and Apartments.com. While searching, renters favor listings that are clear and transparent and they say they are influenced by a property manager's reputation on review sites when evaluating a new rental, the report found. Recommendations from friends and family were also important and highlighted the value of the property manager's reputation.