RealPage Unveils New Multifamily Rental Trends - Seite 3

• Safety, comparable monthly rates, and good online ratings and reviews are the most important characteristics for renters when deciding on a new rental property.
• Safety, good online ratings and reviews, allows pets, and updated interiors are significantly more important to women compared to men.

Technology Drivers

Gen Z renters are not only willing to pay more for a home with smart technology, but they also expect these amenities to be included:

• Younger generations (especially Younger Millennials) expect all technologies to be included at a new rental property significantly more than older generations.
• Over half (51%) of renters are likely to pay for electric doorbells and cameras at their current rental property - the highest of any technology tested.
• 56% of Gen Z renters would be willing to pay higher rent for green and sustainable initiatives such as smart water and composted waste.
• 79% of American renters think they should be able to get everything they need from their property manager via direct message, text, or chat.

Renewal Drivers

The factors that influence whether a renter will renew their lease vary by age group:

• Renters say they are more likely to renew their lease if property managers update their unit (such as installing new carpet or appliances), provide quick and quality repairs, offer flexible lease terms (other than a 12-month lease) and provide online renewal lease signing.
• Problems with neighbors (such as noise) or property managers (such as slow response to maintenance requests) are significant factors in decisions not to renew a lease.
• Older renters are more likely to renew to “avoid the hassle and cost of moving,” whereas younger renters would be more influenced by upgraded amenities and new technology.

Jay Parsons and Jason Dorsey are speaking among other luminaries at RealPage’s annual customer conference, RealWorld. The three-day event delivers a powerful blend of industry-leading innovation,

thought-provoking content, and opportunities for multifamily professionals to leverage proven best practices for optimizing RealPage solutions. Attendees of RealWorld will hear from thought leaders such as RealPage’s Chief Executive Officer and President Dana Jones, followed by Cassandra Worthy, Creator of Change Enthusiasm. They are joined by over 1,400 attendees with a combined 5 million rental property units under management or ownership.

About RealPage

RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency into asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 20 million units and serves customers in the conventional, affordable, student, and senior housing segments. For more information, visit https://www.RealPage.com.

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The RealPage Stock at the time of publication of the news with a raise of +0,05 % to 73,72EUR on Tradegate stock exchange (22. April 2021, 00:26 Uhr).