Renters feel excited, but stressed, about property search

By Kelly Leighton | Oct. 22, 2018 | 2 min. read

With the prospect of finding a new place to rent hanging over their heads, most renters feel… excited.

According to the results of Apartment Guide’s recently-released survey, 46 percent of renters reported feeling excited about their housing hunt, and 40 percent feel optimistic. It’s not all sunshine and rainbows though. Forty-four percent felt stressed during their property search, 35 percent felt overwhelmed and 31 percent felt worried.

Not surprisingly, the rising cost of rent and lack of properties available may be leading to some of the stress and negative feelings associated with the apartment search. Nearly half of renters said their budget is their priority when looking for a place, and 29 percent said location is a major factor. In fact, 62 percent of renters said where the property is trumps the actual property, and 74 percent reported they are moving to a place that is familiar to them.

Beyond location and price, the features tenants desire most are a washer/dryer in the property and gated access. A gym and swimming pool are also appreciated amenities. Hardwood floors, a rooftoop terrace, a cafe or coffee shop, Amazon lockers and shuttle service to public transportation were also liked, but not necessary, amenities.

The majority of tenants are realistic that they may have to compromise to find a rental property that fits their budget. The top area they are willing to compromise on is the size and square footage, at 29 percent, followed by the housing type of 26 percent and price at 15 price. Sixteen percent said they are not willing to compromise on anything.

At the end of the day, after signing their lease, each renter had at least one regret. The top one, according to 31 percent, was not touring more properties. Thirty percent said they wish they learned more about the neighbors, while 29 percent said they should have inspected the property more thoroughly.

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