• Bathroom grab bars • Anti-slip floor in the shower • Good lighting • Lever door handles • Pet-friendly
If the property is in a building: • Elevator • Security guard • Common areas for socializing • Exercise area and/or pool • Café • Dog park and/or grooming facility MORE DEMAND FOR RENTALS The demand for renting over buying continues to grow. Homeownership peaked between 2004 and 2007, with nearly 70% of Americans owning a home. Today, the homeownership rate has dropped to 65%, according to the U.S. Census Bureau. There will always be people who want or need to rent. Now, an increasing number of people, especially millennials and seniors, are choosing to rent as a lifestyle. Are you a single-family rental owner? Find out how we optimize your workflows and acquisition. •
that job off people’s plates, allowing them to focus their time and money on other things. They want flexibility. Like the nomadic millennials, seniors who rent can travel anytime they like, for as long as they like, without needing to make care arrangements for a house. (A house left vacant for a long period can invite trouble, such as squatters or plumbing problems.) They might have family members spread across the country (or world) they want to visit, or they just have a desire to travel. They want accessible amenities. Seniors both desire and require certain amenities they might not be able to have as homeowners. Amenities many seniors need include the following: • Modern furnishings that are easy to clean and maintain
a new adventure. Sometimes the nomad life involves living on the road; other times, nomads settle down in a spot for a month or more. When they do, they usually rent. OTHER DEMOGRAPHICS PREFER RENTALS TOO Some retired adults also prefer rentals for the same reasons as millennials. Rather than aging in place at home, some seniors are downsizing and using the profits to live life to the fullest. Moving to a warmer climate or a seniors community, or leaving the suburbs for a walkable, urban environment are popular options. Here are some features seniors look for: They want low maintenance. Owning a house comes with regular repair and maintenance jobs that homeowners either do themselves or hire professionals to do. Renting takes
Kori Covrigaru is the co-founder and CEO of PlanOmatic, a provider of Property Insights, 3D tours, photography, and floor plans for real
estate nationwide. The company’s full suite of property insights and marketing services allow SFR investors, owners, and operators to make fast, accurate, and well-informed decisions throughout the property life cycle, including acquisition, renovation, and leasing. With a vetted network of professional contractors across the country, PlanOmatic ensures SFR investors, owners, and operators receive all orders within 48 hours. For more information, visit www.PlanOmatic.com.
• Security camera • Smart thermostat
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