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Who Are Your Potential Renters? [Infographic] by Harold Willig


Who rents and why? The firms ForRent.com and Homes.com recently conducted a demographic survey to find out. Here are 6 key points investors in single-family homes should know about today’s renter:

1. Age

According to the survey, millennials – those aged 18 to 33 – were the biggest renter group, at 34%. Baby Boomers - 50 years+ comprised 29%.

2. Marital Status

45% of survey respondents said they were single, 22% married, 15% had a roommate or one to two children, and 7% in a domestic partnership.

3. Rental Type

While the majority (53%) of renters surveyed lived in an apartment, 18% preferred to live in a single-family home, and the balance in a condo or townhome.

4. Neighborhood

Not surprisingly, 57% said it was important to be close to work and schools. And 13% said proximity to public transportation was critical.

5. Amenities

As a landlord, you’ll likely want to make sure your property has what are now common amenities - a washer/dryer, air conditioning and a garage.

6. Dogging It

If you don't allow pets, you may want to think again. 28% of renters had a dog, and 15% had a cat. On the other hand, pets may add to the wear and tear of of properties, and thus increase repair costs for investors.

For more information on why your should consider investing in a professionally managed portfolio of single-family homes, please contact Harold Willig at 917-209-4452 or harold.willig@springviewinvestments.com

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