Published on May 21st, 2025
By Marc Frenkiel
With rent growth slowing, operational costs rising, and new construction surging, maintaining high occupancy rates has become more critical than ever for property managers. And with renters now enjoying more options than they’ve had in years, understanding what they truly want is essential.
The 2025 Renter Preferences Report surveyed over 2,000 U.S. renters to uncover key insights into what they expect from their property management company so you can exceed those expectations and deliver a standout experience throughout their rental journey.
Here’s a quick look at what you’ll discover in this year’s Renter Preferences Report.
Renter Satisfaction Leads to Retention
85% of renters are satisfied with their property manager, but there’s always room for improvement.
The research reveals the importance of renter satisfaction in securing renewals and recommendations.
Satisfied renters are 73% more likely to be planning to renew their lease and more than five times more likely to recommend their property manager.
Why Renters Are Moving in 2025
More than a third of renters surveyed for the report plan to move in the next year. Nearly half plan to renew or stay at their rental, but the remaining 20% are unsure. There’s an opportunity for property managers to sway uncertain renters to renew their leases.
Renters are considering moving in 2025 to find a better residence or lower rent. What’s notable is that close to one in five renters are “seeking a better property manager” in their move.
The reasons renters stay are largely similar to the reasons they consider leaving, including satisfaction with location or property. Notably, 41% of residents who plan to renew include “I’m satisfied with my property manager or landlord” as a key reason they plan to stay.
Offering a Seamless Application Experience
Starting with an easy application process offers potential renters a preview of how their property manager operates. That begins with a clear and transparent listing, which is important to most renters surveyed. A good listing sets the tone for a positive relationship between a renter and a property manager. It validates a renter’s interest in the property and can encourage them to apply. But just as the listing should be clear and straightforward, so should the application process.
A simple yet comprehensive application form means more prospects enter the sales funnel, providing property managers with a larger pool of quality applicants to choose from. 85% of renters consider online and mobile applications to be “very important” or “important” when applying for a new rental.
Technology and Financial Services on the Rise
Renters who use technology offered by their property manager, such as online portals, apps, and online payments, are more satisfied with the technology their property manager provides. That satisfaction with technology leads to overall higher satisfaction with the property manager.
Offering technology to renters can differentiate properties in a crowded market. The demand for these services exceeds their current availability, presenting an opportunity for property managers.
For example, less than half (42%) of renters say their property managers offer a “benefits package or add-on bundle,” but 71% of renters consider this technology important when evaluating a property before signing a lease.
A similar trend is occurring with property managers offering financial services. Residents are 97% more likely to recommend their property manager if they are satisfied with their financial services.
Similar to resident service technology, renters prioritize financial tools, even if they aren’t currently available to them. Only 34% of renters surveyed say they have access to a renter rewards program, but 72% consider this tool important when evaluating a new rental before signing a lease.
Offering these in-demand financial tools can help property managers stand out in a crowded rental market.
Offering in-demand resident services, including easy-to-use technology and financial tools, can make a property stand out in a crowded market. Beyond filling vacancies, these services can boost resident satisfaction, raising the likelihood of renewals and meaning fewer vacancies in the future.
Standing Out Through Tools
With new developments increasing rental options, property managers must prioritize simple-to-use tools to differentiate themselves. Renters have a wide variety of properties to choose from, and property managers must work to stand out with exemplary service and technology.
Beyond one-on-one interactions, tools such as online and mobile applications, maintenance portals, and digital move-in services can create a smoother experience for residents and property managers.
For more data-backed insights on what renters want and to excel as a property manager in 2025, read the full Renter Preferences Report.
