SmartRent survey reveals renters' expectations for summer leasing

Key Takeaways

• Basic living standards took precedence over building amenities for most renters surveyed
• The desire for smart technology for security and safety is strong, especially for Gen Z renters
• Over one-third of Gen Z renters desire a larger living space, and have cited that as a reason for moving to a new apartment

A new research report by Morning Consult and SmartRent, a provider of smart operations solutions for the rental housing industry, finds that renters bring firm expectations to their apartment search when it comes to utilities and smart tech.

What Do Today's Renters Want in an Apartment?

Today's renters want modern, smart technologies, and it's a big factor in their search for an apartment. Among those surveyed, many said the following are "somewhat" or "very important" to their search:

• Networked security cameras (69%)
• Smart door locks/keyless access (58%)
• Smart thermostats (56%)

Smart security and safety are obvious features that renters desire. According to the survey, some other priorities proved to be surprising.

When asked about what they would expect to be included in their monthly rent, 61% of respondents said their property manager should cover water, 53% said trash and 43% said on-site maintenance.

"These priorities indicate that renters have a standard level of convenience and care that they believe should be built into the rental experience. Basic living standards took precedence over building amenities like a gym, pool, or common outdoor space," the report states.

What Gen Z Renters Desire Most in an Apartment

Gen Z renters are driving these changes as they are driven less by rental costs and more by smart home staples. Among the 939 renters surveyed, 68% of Gen Z respondents are ready to move to a new rental property—the highest of any cohort surveyed.

In addition to technology, the desire for a larger apartment is apparent as 34% of Gen Z respondents cited desiring more space. Meanwhile, 26% want to move to live in a new neighborhood, and 21% are moving due to price increases at their last residence.

The Gen Z crowd is also the largest group to be frustrated by the lack of security features in their current apartment. This generation expressed the greatest desire for smart technologies like networked security cameras (72%), video doorbells (70%), and smart indoor lighting (57%), compared to the other age groups.

“Our survey shows that when operators bundle essential utilities with smart‑home features, they stand out, especially among renters under 30 years of age," says Frank Martell, President and CEO of SmartRent.