Amid rising competition, resident satisfaction continues to be critical for renter retention, according to the findings from AppFolio’s 2025 Renter Preferences Report.
AppFolio surveyed 2,002 U.S. renters 18 and older between Jan. 24 to 30 to gather their insights for the report, which outlines key strategies for property managers.
Renters who are satisfied with their property manager reported they are 73% more likely to renew their lease and more than five times likely to recommend them. The same holds true for maintenance satisfaction, with 71% more likely to renew their lease. In addition, 86% who said they are satisfied with maintenance issues also said they were satisfied with their property manager.
Communication is another area that has a big impact on renter satisfaction. Residents who are satisfied with communication are 79% more likely to be satisfied with their property manager and 146% more likely to recommend them.
Today’s renters also are looking for digital experiences that provide convenience. When considering a new rental, respondents cited online rent payments, 86%, as the most valuable financial service, followed by rent reporting at 72%, renter rewards programs at 72%, flexible rent at 69%, and security deposit alternatives at 65%.
However, 39% of respondents said they still pay rent through traditional methods like cash or check, with over half of those, 59%, saying online payments are not available to them.
“Residents expect fast, easy, and personalized experiences, and our report shows that demand is only growing,” said Stacy Holden, vice president, industry principal, at AppFolio. “Property managers that meet and exceed resident expectations will not only address current gaps in service but also attract new renters and build stronger relationships with existing residents.”
The AppFolio report also broke down generational differences on meeting resident expectations.
With Gen Z on track to become the largest renter demographic by 2030, 71% of these respondents said they consider digital move-in services important. This is compared with 58% of millennials, 53% of Gen X, and 34% of baby boomers.
Gen Z respondents also had higher percentages interested in smart-home technology and flexible rent:
- When looking at a new rental, 71% of Gen Z renters said they are interested in smart-home technology, followed by 58% of millennials, 50% of Gen X, and 46% of baby boomers; and
- 77% of Gen Z renters reported prioritizing flexible rent compared with 67% of millennials, 49% of Gen X, and 37% of baby boomers.
