the choices you can make, and the rules for evictions. Stay aware of those on the books and any proposed laws. TECHNOLOGY AND TENANT PREFERENCES Today’s tenant has a new set of preferences. It depends on their age group, whether they are a single renter or a family, and what’s most important to them. Many properties have amenities that can fill these needs, including proximity to shops, services, and entertainment. For the property itself, many renters seek out must-haves like pet-friendly policies, smart technology, energy- efficient appliances, and properties with sustainability features. They may also prefer properties with office space for remote workers, an outside living area, and a garage. Finally, many renters want more flexible lease terms. They may rent for a shorter term as they search for a property to buy; others may want to sign for longer than the standard year. Recognizing these trends can inform how you promote properties, highlighting flexibility. HOW REAL ESTATE PROFESSIONALS CAN ADAPT With so many trends, what’s the response? It depends on your market and who you represent. There are several strategies you can consider. First, you can help landlords and property managers remain competitive by discussing the demand for the area and what renters want. Focusing on these trends enables them to stay competitive and avoid vacancies.
Today’s tenant has a new set of preferences. It depends on their age group, whether they are a single renter or a family, and what’s most important to them.”
MICHAEL LUCARELLI
Be sure to review investment opportunities with people looking to buy, comparing cap rates to understand potential profitability. Provide them with data about the property and the demand for the area. Also, leverage market data to anticipate shifts. Stay current on what’s happening locally and nationally. When you identify trends, follow them and make some assumptions about how they may impact rental demand and pricing. A MOVING TARGET Rental market changes are part of the landscape. Sometimes, the changes are more turbulent than others. Beyond following trends and understanding how to respond, streamlining applications with tenant screening technology is critical to bringing renters and properties together. The road ahead may be uncertain, but data is your best source for how to pivot. With these practical strategies, your rental business can flourish in 2025.
Michael Lucarelli is the CEO and cofounder of RentSpree. Since starting RentSpree with business partner Paul Sirisuphang in 2016, Lucarelli’s goal has been to reimagine how people rent homes by pioneering a new rental platform that allows agents, landlords, and renters to interact seamlessly. Lucarelli is the recipient of Forbes 30 under 30, Los Angeles Business Journal 20 in their 20s, ASPIRE Alumni Entrepreneur of the Year, RISMedia 2023 Real Estate Newsmaker, and a HousingWire Rising Star. Under Lucarelli’s leadership, RentSpree has been named three times to Inc. 5000’s list of fastest-growing private companies (2022, 2023, 2024).
20 | think realty magazine :: july - august 2025
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